Pink Rice: ‘a Sustainable Alternative Protein Solution’
The food industry is witnessing change as alternative proteins emerge as a potential solution to environmental and supply challenges.
Pink rice is a new type of hybrid rice containing beef cells that combines plant-based and cultivated meat technologies to create a novel protein source.
According to a report by the Financial Times, Researchers at Yonsei University in South Korea have developed “a novel food ingredient that can overcome humanity’s food crisis has been created.”
The report adds that this hybrid rice produces significantly less carbon emissions than conventional beef and is less expensive to produce.
It is part of a growing trend in alternative proteins, which includes plant-based, cultivated and fermented foods designed to replicate animal products.
Alternative proteins encompass a range of products designed to mimic animal-based foods, including plant-based, cultivated and fermented food options.
Alternative protein innovation and research
Scientists are working to improve alternative protein products globally.
“Demand for meat is expected to rise 50 per cent by 2050”, the report states.
The report indicates that these alternatives use between 47% and 99% less land than traditional farming methods.
The report also suggests that if alternative proteins capture 11% of the overall protein market by 2035, they could reduce greenhouse gas emissions equivalent to decarbonising the entire aviation industry.
These alternatives aim to address environmental concerns associated with traditional livestock farming.
The report states that livestock contributes 12% of global annual greenhouse gas emissions, surpassing the transport sector.
The ground-breaking rice product reportedly produces less than a tenth of the carbon emissions of beef and costs significantly less.
Market dynamics and consumer acceptance
The alternative protein market has experienced both rapid growth and recent setbacks.
The report notes that plant-based meat sales grew 74% between 2018 and 2021.
However, the market has since faced challenges, with sales declining in recent years.
Beyond Meat, a plant-based food producer, saw its share price surge 163% on its initial public offering day in 2019 - making it the most lucrative launch on Wall Street in two decades.
However, the report indicates that investor enthusiasm has since waned due to global economic stagnation and rising interest rates.
Consumer acceptance remains a hurdle for the industry.
The report cites surveys indicating that many consumers find alternative protein products lacking in taste, texture and nutritional value.
In response, companies are reformulating their products.
Beyond Meat and Impossible Foods, both plant-based meat producers, for example, have recently relaunched products with simplified ingredient lists.
Challenges and future prospects
The report reveals that cost remains a significant challenge.
Plant-based products are more expensive to produce than farm-grown meat, with cultivated and fermented products even costlier.
These high costs have hindered production scaling.
Despite recent market challenges, the report suggests that the alternative protein sector continues to attract investment.
Infinite Roots, a German fermentation start-up, recently secured US$54m in funding.
Rosie Wardle, co-founder of Synthesis Capital, a venture capital manager focused on food innovation, views the current market consolidation positively.
Carlotte Lucas, head of industry at Good Food Institute Europe, an alternative-protein think-tank says: “Governments will play a critical role in enabling the scale-up of the sector. “We’ve seen a lot of venture capital coming into the space but, [when] scaling up to the next level, you need later-stage investors.”
Yet: “The potential is massive”, she continues.
“We’re facing so many challenges globally, whether climate change, food security or public health, and alternative-proteins are one of the key solutions.”
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