The Future of Food

Even before Russia attacked Ukraine at the end of February, food prices had been on the rise for some time. With two of the largest producers and exporters of wheat at war, supplies of grain are now dwindling, prompting governments worldwide to consider food security more seriously.

Meanwhile a growing number of us have been reassessing our diets in light of environmental and ethical concerns. In response, we have seen an explosion of novel foods hitting the shelves in recent years. As this trend gathers pace, startups are developing increasingly innovative products, perhaps most notably lab-grown meat and plant-based substitutes. Whilst there are considerable challenges in producing ‘cultivated meat’ on a commercial scale, investors and governments have already piled in, pouring billions of dollars into foods that some consumers are not yet sold on.

Nevertheless, cultivated chicken is already proving popular in Singapore, where it was approved for consumption in December. The company behind it, Eat Just, has also been seeing remarkable sales of its plant-based eggs, having sold the equivalent of over 200 million of the hen-laid variety.

Governments are taking note. China, the world’s largest consumer of meat, included lab-grown and plant-based meats in its five-year agricultural plan for the first time earlier this year. More recently, President Xi Jinping encouraged officials to explore these substitutes in more detail for environmental as well as national security reasons. As the world’s largest producer and exporter of meat, China could have a huge influence on the development of future foods.