Food Tech, Including Alternative Meat, Emerges as an Industry to Address the Food Crisis

As climate change, global pandemics, and conflicts worldwide intertwine, concerns about a potential food crisis are mounting. One industry emerging as a key solution is Food Tech.

Food Tech, a fusion of "Food" and "Technology," leverages cutting-edge technology throughout the food lifecycle—from production to distribution and consumption. Examples include smart farms that grow crops in containers and plant-based alternative proteins designed to replace conventional meat.

With livestock farming, including cattle production, identified as a significant contributor to global warming, alternative meats have risen as a promising solution to address these environmental challenges.

Food Industry Joins the ‘Food Tech’ Frenzy

The food industry is actively exploring the vast and ever-expanding world of food technology, closely monitoring future trends and enthusiastically venturing into related businesses.

Food companies have focused on reimagining food itself, creating alternatives such as lab-grown meat and soy-based steak. They’ve also innovated with tofu-based chicken and rice-based milk, among other products.

In the foodservice sector, automation has taken center stage, with the introduction of cooking robots designed to alleviate workforce burdens. Some companies have even tailored their dishes to meet individual customer preferences.

Franchise businesses have turned their attention to cooking automation, aiming to deliver food quickly and safely to customers. Beyond this, the industry is diversifying through ventures such as smart farms and automated cooking vending machines.

Biotech Startup Pensees Launches Food-Grade Cell Culture Medium

Biotech startup Pensees announced on the 21st the official release of its food-grade cell culture medium, a crucial ingredient for producing cultivated meat.

A cell culture medium is a liquid essential for the production of cultivated meat, supplying nutrients, growth factors, vitamins, and other elements necessary for cell growth and proliferation. It plays a critical role in helping cells form living tissues and is considered a key factor influencing the quality and production costs of cultivated meat.

Pensees emphasized that its food-grade culture medium significantly improves safety and cost-efficiency compared to conventional research-grade media. The company expects this innovation to greatly enhance the commercial viability of the cultivated meat industry.

[Top 10 Food & Beverage News of 2024] Plant-Based Foods Take the Lead as a Savior of the Domestic Market

Recently, the food industry has been focusing on plant-based foods, recognizing the limitations of the domestic market. For consumers accustomed to rich, meat-heavy diets, alternative meats and plant-based vegan products have emerged as options that satisfy both taste and health concerns.

The market outlook is also positive. According to the Korea Agro-Fisheries & Food Trade Corporation's report, "2023 Alternative Food Processed Food Submarket Trends," the plant-based food market is already expanding.

As of 2022, the domestic plant-based food market was valued at $24.83 million (approximately KRW 32.28 billion) and is projected to grow at an average annual rate of 6% from 2023 to 2028.