3D food printing, restaurant tech, blockchain, virtual kitchen, functional food and drinks are at the forefront of the food industry that will impact us in 2022.
Southeast Asia is a region that is intensely passionate about food. Every country in this part of the world has a long and proud culinary tradition that inspires great pride. But when it comes to innovations in the foodtech industry, Southeast Asia is still lagging behind the US, Europe, Israel, and other western countries.
Yet several foodtech companies in this region are working hard to catch up, building on trends that look likely to grow even more significant in the years to come.
Here are five such trends we’ve identified and the homegrown Southeast Asian entrepreneurs spearheading them:
Food delivery
Food-obsessed Southeast Asia had been one of the earliest adopters of food delivery services even before the COVID-19 pandemic, in which lockdowns increased the demand for such services exponentially.
Grab Food, by Singapore-based ride-hailing app Grab, is a leader in the region, but FoodPanda and Gojek have significant market shares too. With a compound annual growth rate of 11 per cent, competition in this sector is heating up, leading to further innovations, including financial products and possible mergers with other e-commerce players.
Having firmly entrenched themselves among the region’s most well-known – and well-used – brands, food delivery services, and apps look to grow from strength to strength.
Plant-based and cell-based meat
The meat industry has been identified as one of the biggest causes of climate change, producing 60 per cent of greenhouse gases from food production and 35 per cent of all global emissions.
This is one of the driving factors behind the rise of plant-based meat products, an industry that is estimated to be worth US$85 billion in 2030.
Popular brands such as Impossible Foods and Beyond Meat have developed plant-based meat that meets the standards of consumers who are health and environmentally conscious but reluctant to give up meat.
Also Read: The spotlight on foodtech: Why we believe that what we put on our plate will determine the future
Both brands have had high-profile launches in Singapore and Thailand, partnering with major fast-food brands like McDonald’s and Burger King. This will only raise awareness, interest, and ultimately, demand for more plant-based food products.
Urban or vertical farming
Most Southeast Asian countries have been traditionally agrarian societies. The agricultural sector in this region has been facing numerous problems, amongst which are climate change, water access, urban expansion, and rising consumer demand.
There is also a growing demand for transparency over where food comes from and what pesticides were used. Using the latest aquaponic or aeroponic techniques, vertical farms in urban areas offer an exciting solution.
It’s probably no surprise that Singapore – being a tiny island where land is precious – is leading the way with companies such as Comcrops and Sky Greens, but the Philippines has also introduced new laws to promote urban farming, and there are homegrown efforts in Malaysia and Thailand as well. Such efforts are likely to grow in profile in the coming year.
Next-gen functional food and drinks
Southeast Asians have long practised traditional methods of wellness and nutrition, such as TCM (traditional Chinese medicine) and Ayurveda. Hence, it’s perhaps ironic that when these ancient practises become trendy in the West, they become popular all over again in their native countries.
Recent research has found real health benefits in foods and ingredients such as tempeh, green tea, turmeric, and ginger, all of which have been traditionally prescribed as health boosters.
Known as functional foods, these ingredients reflect growing demand from consumers who want to eat healthy, prevent disease, and strengthen their immunity.
Startups such as Bangkok-based Jamulogy, which produces nutritionally dense functional drinks based on the Indonesian tradition of jamu, are meeting this demand.
Also Read: How COVID-19 accelerated digitalisation in the F&B industry in Malaysia
3D food printing
3D-printed food sounds like something out of Star Trek, but this promising new technology is estimated to hit over US$432 million in market value by 2025.
The main challenge for 3D food printing is incorporating a variety of ingredients, tastes, and textures. The many enterprising startups in this field are hard at work tackling this challenge; some have even managed to include regular ground beef.
The most exciting application, however, is providing personalised meals with precise amounts of ingredients for optimal nutrition, serving the needs of everyone from hospital patients to malnourished communities.
Singapore-based Anrich3D, a spinoff of Nanyang Technological University, is one such startup that is planning to go commercial within the year.
An emerging industrial trend too exciting to be ignored
Although Southeast Asia still has a lot of catching up to do in the foodtech scene, the region’s longstanding passion for food makes it a place to watch for some of the more exciting innovations to come.
With rising foodtech accelerator programmes in the region, such as Space-F and Big Idea Ventures stepping in to drive the growth of the region’s promising foodtech startups, we will indeed witness a variety of innovations disrupting the way we enjoy our food.
2022 will be the year that homegrown foodtech startups in this region see rapid growth and perhaps even make a few international headlines.
Having been long overlooked by the West, it’s about time Southeast Asian food culture gets its time in the spotlight.
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