The Food Tech Industry Landscape in Singapore Whitepaper
The Embassy of the Kingdom of the Netherlands is very proud to present The Food Tech Industry Landscape in Singapore Whitepaper. This report unfolds the current state and trends of the Food Tech industry in Singapore and the challenges and opportunities that may impact the marketability of food tech in Singapore.
This report unfolds the current state of foodtech industry in Singapore. Starting off with the market estimation, this report segments the industry into three sub industries namely: Urban Farming, Alternative Protein, and Aquaculture. Following the market sizing and estimation, products and services from each of the sub-industry are listed, along with the prominent players of each. We also listed 15 key players in the foodtech landscape in Singapore, also the current technology and key regulations, as well as the existing opportunities and challenges for this industry to develop.
As the report zooms into the sub-industries, readers will find the findings on the current trending available products in the market, followed by the notable players of each product or service. Urban farming is dominated by high-tech farms and vertical vegetable farms. Alternative proteins cover the products of plant-based proteins, fruit-based whole-food meat alternatives, and cultivated meat- or cell-based protein, while for aquaculture the report highlights farm operators: closed containment fish farms and end-to-end digital solutions and IoT forAquaculture. The readers will also find the discourse about other products and services available.
And once again, the report looks back on the greater view. The economic trends in Singapore find a challenge on consumption during COVID19 pandemic, however, the economic growth is expected to keep growing on about4-6% in 2021. This situation provides a positive signal for tech-based agrifood start-ups that plan to initiate their businesses around the start of next year. Nevertheless, the Ministry also stated that the economic activity in thefood services sector is unlikely to return to the pre-COVID level even by the end of 2021, and therefore, the start-ups should proceed carefully.
Food consumption trends in Singapore shows that the country’s annual consumption per capita of conventional farm animals reached 55kg.
This comes with environmental implication. Hence, this might be the opportunities for foodtech companies to convey the message about
how foodtech might help to sustain the environment. This report also highlights the study from Tan. et. al (2020) which outlines five possible scenarios of Singapore’s food consumption trends and how each impacts the environment by 2030. The study can be a guide for foodtech company on how to create a maximum impact in Singapore. Key regulations are highlighted, specifically to those that might affect the operation of foodtech companies in
Singapore, as well as the current news about the industry. The current news consists of the launches of the product, market perception, and multilateral agreements about food innovation that Singapore has taken part in.
To read the full Whitepaper click on below link