GFI APAC announces the "2020 Asia Alt 100" Industry Disruptors in Alternative Protein

by ACN Newswire

HONG KONG, Jun 22, 2020 - (ACN Newswire) -  The Good Food Institute Asia-Pacific (GFI APAC) today reveals the "2020 Asia Alt 100" organizations, together with a list of major investors identified as the driving forces for Asia's rapidly growing alternative protein industry. The raw materials and food production segments present significant opportunities, especially for regional industry players, according to GFI APAC's analysis.

GFI APAC Elaine Siu

The inaugural "Asia Alt 100" list published by GFI APAC identifies the 100 top players in Asia's alternative protein industry, from five building block segments, namely raw materials and ingredients, food production, research and development, corporate partnership, to end products. The research covers players in major markets in Asia including mainland China, Hong Kong, Singapore, Japan and South Korea. (Please see the full list in Appendix I)

Investment in alternative protein has been a major trend in the food industry worldwide in recent years. While alternative protein may still be in its infancy stage in Asia, compared to more mature markets such as the U.S. where plant-based retail sales already reached US$5 billion in value , there are unique opportunities in the growing Asia market to be captured, and both corporates and start-ups are clearly keen to compete for a share in this growing segment. Out of the "2020 Asia Alt 100", over half (57%) are corporates, 29% are start-ups, while the remaining 14% are academic institutions.

"Coming from a background of very vibrant and diversified food cultures, Asian consumers have a discerning palate and demand for a great variety when it comes to food. For alternative protein to truly become a protein solution for Asia, the industry needs to move beyond importing technologies and brands from Silicon Valley. We need homegrown players who understand and can cater to the local markets' taste," says Elaine Siu, Managing Director of GFI Asia Pacific.

"We have already seen local innovators and companies starting to emerge in the past year with huge potential to lead the future growth of this sector. With the Asia Alt 100, we have identified the ones we see as the top disruptors in the industry which have demonstrated that they are seriously committed to, and invested into, growing the alternative protein industry."

The Asia Alt 100 is presented in GFI APAC's Asia Alternative Protein Industry Map, which shows who these key players are and how they work together, alongside a list of 35 key investors in the field. Investors are another very important building block propelling the developments of alternative protein in Asia. They come from around and outside of Asia, including Singapore (10), Hong Kong (6), Japan (5), mainland China (4), South Korea (1), other southeast Asian countries (2) and outside of Asia (7). Twenty-eight out of the 35 investors identified are venture capital firms, while the remaining seven are accelerators. (Please refer to Appendix II for the full list of investors).

According to Siu, "While major consumer brands and retailers launching the 'next plant-based burger' have been getting the spotlights, as the industry matures, we have seen investors showing increasing interests in raw materials and ingredients suppliers and B2B companies." Both raw materials and production are integral parts of the alternative protein value chain, but the market is only just catching up on discovering the opportunities that lie in the upper stream. For example, currently Asian countries such as China and Indonesia are heavily growing plant-based protein's raw materials such as soybean and peas, while approximately 50% of the global supply of soy protein is being processed in mainland China, mainly in the Shandong and Henan regions.

Currently, about half (58%) of the raw material and ingredient suppliers in the 2020 Asia Alt 100 list are originated in Asia. If more homegrown players from Asia will enter the market to leverage the proximity to raw materials and processing capabilities, the industry as a whole can potentially bring down production costs to make alternative protein more affordable to Asian consumers and accelerate the development of the alternative protein sector in Asia.

Siu concludes: "We are currently at an exciting phase of accelerating growth in the alternative protein in Asia. It is expected that more and more Asian companies will enter the industry as the local players start to realize the competitive advantage they have in growing raw materials, processing ingredients, local distribution network, supply chain infrastructure, and of course, in creating products that are tailored to the variety of Asian palate and culture."

Note:
The team at GFI APAC is in a unique position to have their finger to the pulse of the industry. Day in day out the team is consulted by startups (in many cases even before they formed their founding team), corporates, investors, scientists, and policymakers, free of charge. Being privy to and trusted with invaluable information, the GFI APAC team has the inside track to identify the top players that have demonstrated that they are seriously committed to, and invested into, growing the alternative protein industry, and deserve a place in the "Asia Alt 100" list.

Details of the scope of this study are as follows:

- Regions
Included: Major markets in Asia e.g. Singapore, mainland China, Hong Kong, Japan, South Korea.
Excluded: India

- Businesses
Included: Raw materials and ingredients, food production, research and development, and corporate partners. In line with our goal to increase transparency and awareness of the makers in the supply chain.
Excluded: Retailers and food service providers.

- Local Presence
Included: Companies incorporated in Asia, and companies incorporated outside of Asia but have built a local presence or otherwise invested significantly in Asia.
Excluded: Companies incorporated outside of Asia and without a local presence or significant investment in Asia, notwithstanding that their products may be available in Asia via distributors.

Mapping the Industry

This year, GFI APAC presents the 2020 Asia Alt 100 alongside 35 investors on the Asia Alternative Protein Industry Map to showcase not only the who's who of this sector but how they work together.  Please view the full map at the following link: http://www.gfi-apac.org/asia-alt-100/

About The Good Food Institute (GFI)

The Good Food Institute is an international non-profit building a sustainable, healthy, and just global food system. With unique insight across the scientific, regulatory, industry, and investment landscape, we are accelerating the transition of the world's food system to alternative proteins using the power of food innovation and markets. For more information, please go to: http://www.gfi-apac.org/

Media Contact
Viola Chen
Direct: +852 5426 0552
Email: violac@gfi.org

Investor Contact
Elaine Siu
Direct: +852 9872 1690
Email: elaines@gfi.org

Appendix I: 2020 Asia Alt 100 - Full List (by alphabetical order)

1. AAK  https://www.aak.com/
2. ADM  https://www.adm.com/
3. Agency for Science, Technology and Research (A*STAR)  https://www.a-star.edu.sg/
4. Avant Meats  http://www.avantmeats.com/
5. Avebe  https://www.avebe.com/
6. Awano Food Group  http://awanofood.com/
7. Axiom Foods  http://axiomfoods.com/#
8. Baicaowei  https://www.vipbcw.com/
9. Beijing Technology & Business University  http://english.btbu.edu.cn/
10. Betagro Group  http://www.betagro.com/intro
11. Beyond Meat  https://www.beyondmeat.com/
12. Buhler  https://www.buhlergroup.com/content/buhlergroup/global/en/homepage.html
13. Calysta  http://calysta.com/
14. Cargill  https://www.cargill.com/
15. Cellivate Technologies  https://www.cellivate.xyz/
16. Charoen Pokphand Foods  https://www.cpfworldwide.com/en/home
17. DAIZ  https://www.daiz.inc/
18. Danisco (China) Investment  https://www.bloomberg.com/profile/company/ACHDOZ:CH
19. DSM  https://www.dsm.com/corporate/home.html
20. Duoning Biotech  https://www.duoningbio.net/
21. DuPont  https://www.dupont.com/
22. Fuji Oil  https://www.fujioil.co.jp/en/index.html
23. Givaudan  https://www.givaudan.com/
24. Glico Nutrition  https://www.glico.com/nutrition/en/
25. Growthwell Group  http://growthwellfoods.com/
26. Hey Maet  http://heymaet.com/
27. Hongchang Biotech (Suzhou)  http://en.hongchangfood.cn/
28. Impossible Foods  https://impossiblefoods.com/
29. Ingredion  https://www.ingredion.com/
30. Integriculture  https://integriculture.jp/?locale=en
31. Japan Science and Technology Agency (JST)  https://www.jst.go.jp/EN/
32. Jiangnan University  http://english.jiangnan.edu.cn/
33. Jinnong   http://www.jinnongbio.com/html/en/
34. Jinzi Ham  https://www.reuters.com/companies/002515.SZ
35. JUST  https://www.ju.st/en-us
36. Kagoshima University  https://www.kagoshima-u.ac.jp/en/
37. Karana  https://eatkarana.com/
38. Kerry  https://www.kerrygroup.com/
39. KosmodeHealth  https://kosmodehealth.com/
40. Lesaffre  https://www.lesaffre.com/
41. Let's Plant Meat  https://www.letsplantmeat.co/
42. Life 3 Biotech  https://www.life3.co/
43. Loma Linda  https://atlanticnaturalfoods.com/loma-linda/
44. Marvelous Foods  https://marvelousfoods.com/
45. Mitsui Co  https://www.mitsui.com/jp/en/index.html
46. Monde Nissin  https://www.mondenissin.com/
47. Nanjing Agricultural University  http://english.njau.edu.cn/
48. Nanjing Zhouzi Future Food  http://www.js.xinhuanet.com/2020-01/22/c_1125492974.htm
49. Nanyang Technological University (NTU)  https://www.ntu.edu.sg/Pages/home.aspx
50. National University of Singapore (NUS)  http://www.nus.edu.sg/
51. Nestle  https://www.nestle.com/
52. NH Foods  https://www.nipponham.co.jp/eng/
53. Ningbo Sulian Food  https://tinyurl.com/yavte3nz
54. Nishimoto Co.  https://www.wismettac.com/en/index.html
55. Nissin Foods  https://www.nissin.com/en_jp/
56. Omni Foods  https://omnipork.co/
57. Otsuka Food  https://www.otsuka.com/en/rd/consumer/
58. Pepsico  https://www.pepsico.com/
59. PFI Foods  http://www.pfifoods.com/
60. Phuture Foods  http://phuturemeat.com/
61. Phyto Corporation  https://www.phytoco.com/
62. Pulmuone  https://www.pulmuonefoodsusa.com/
63. Quorn  https://www.quorn.co.uk/about-quorn/protein
64. Robobank  https://www.rabobank.com/en/home/index.html?languageDoesNotExists=zh
65. Roquette  https://www.roquette.com/
66. Shanxi Nutranovo  http://www.nutranovo.com/
67. Shinshu University  https://www.shinshu-u.ac.jp/english/
68. Shiok Meats  https://shiokmeats.com/
69. Shuangta Food  http://en.shuangtafood.com/
70. SiCell  https://tinyurl.com/y7wav6nj
71. Sophie's BioNutrients  https://www.linkedin.com/in/eugene-wang-2957b86/
72. South China University of Technology  https://www.scut.edu.cn/en/
73. SPC Samlip  http://www.spc.co.kr/spc/eng/group/GF_samlip.spc
74. Starfield  https://www.starfieldcn.com/
75. Sumitomo Corporation  https://www.sumitomocorp.com/en/jp
76. Supersun  http://supersunvegefood.lk/
77. Tereos  https://tereos.com/en/#
78. TerViva  https://www.terviva.com/
79. The Chinese University of Hong Kong  https://www.cuhk.edu.hk/english/index.html
80. The PlantEat  https://theplanteat.github.io/
81. Tianjin Norland  http://www.norlandbiotech.com/
82. Tokyo Medical and Dental University  http://www.tmd.ac.jp/english/
83. Tokyo Women's Medical University  http://www.twmu.ac.jp/english/
84. Toriyama Chikusan Shokuhin  https://umami-wagyu.com/
85. Triton Algae Innovation  https://www.tritonai.com/
86. Tupac.Bio  https://tupac.bio/index.html
87. Turtletree Labs  https://turtletreelabs.com/
88. UCDI  https://www.co2.co.jp/english/
89. University of Tokyo  https://www.u-tokyo.ac.jp/en/
90. Unlimeat  https://tinyurl.com/yap9cygn
91. Veego https://tinyurl.com/ycz8f6ody
92. Vegetari Healthy Bites  https://www.vegetari.ph/
93. Vesta  http://www.vestafoodlab.com/
94. Whole Perfect Food / Qishan  http://www.qishanfoods.com/index.html
95. Wilmar International  https://www.wilmar-international.com/
96. Worth The Health Foods  https://www.wthfoods.ph/
97. Z-Rou  http://www.z-roumeat.com/
98. Zero Meat  https://zeromeat.jp/
99. Zhen Meat  https://zhenmeat.com/en
100. Zikooin  https://zikooin-market.com/

Appendix II: Key investors - Full List (by region)

1. Brinc  Hong Kong  https://www.brinc.io/
2. Green Monday Ventures  Hong Kong  https://greenmonday.org/en/ventures/
3. Horizons Ventures  Hong Kong  https://www.horizonsventures.com/
4. Lever VC  Hong Kong  https://www.levervc.com/
5. Vectr Ventures  Hong Kong  https://vectr.co/
6. VU Venture Partners  Hong Kong  https://www.vuventurepartners.com/
7. Bits X Bites. Mainland China  http://www.bitsxbites.com/
8. Dao Foods  Mainland China  https://www.daofoods.com/
9. Joy Capital  Mainland China  http://www.joycapital.com.cn/en
10. Matrix Partners China  Mainland China  https://www.matrixpartners.com/
11. Beyond Next Ventures  Japan  http://beyondnextventures.com/en/
12. Glocalink  Japan  https://en.glocalink.com/
13. Hiroshima Venture Capital  Japan  https://www.h-vc.co.jp/
14. RealTech Fund  Japan  https://www.realtech.fund/en/
15. Yakumi Investment  Japan  https://www.yakumi.co/
16. Big Idea Ventures  Singapore  https://bigideaventures.com/
17. DSG Consumer Partners  Singapore  https://dsgcp.com/
18. Germi8  Singapore  https://www.germi8.com/
19. GROW  Singapore  https://www.gogrow.co/
20. Hatch  Singapore  https://www.hatch.blue/
21. ID Capital  Singapore  https://www.idcapital.com.sg/
22. Innovate 360  Singapore  http://innovate360.sg/
23. Makana Ventures  Singapore  https://www.makanaventures.com/
24. Temasek  Singapore  https://www.temasek.com.sg/en/index
25. VisVires New Protein  Singapore  https://www.visviresnewprotein.com/
26. Mirae Asset Global Investments  South Korea  https://www.am.miraeasset.com/
27. Space-F  Other SEA  https://www.space-f.co/
28. Thai Union  Other SEA  https://www.thaiunion.com/en/home
29. Agfunder  Out of Asia  https://agfunder.com/
30. Artesian Capital  Out of Asia  https://www.artesianinvest.com/overview-vc
31. Blue Horizon  Out of Asia  https://www.bluehorizon.com/
32. New Crop Capital (NCC)  Out of Asia  https://www.linkedin.com/company/new-crop-capital/
33. Tyson Ventures  Out of Asia  https://www.tysonfoods.com/innovation/food-innovation/tyson-ventures
34. Unovis Partners  Out of Asia  https://www.unovis.vc/
35. VegInvest  Out of Asia  https://www.veginvesttrust.com/


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