PHOTO: Prime Minister Netanyahu, Minister Ofir Akunis, and Steakholder Foods CEO Arik Kaufman. © Chaim Tzach, GPO
Alternative proteins are one of the most promising sectors in food tech, positioned to combat climate change and enhance food security. Countries all over the world are racing to develop alternative protein sources, a primary food component of the future of food. According to Research & Markets, the global alternative protein market is expected to reach $36.61 billion by 2029, growing at a compounded annual growth rate (CAGR) of 12.4% during the forecast period. This industry includes cellular agriculture (also commonly known as animal cell cultivation) and a burgeoning hybrid meat substitute market.
Israel is a country with hundreds of startups and companies innovating in food tech and advanced academic research. Israeli companies are leading the world in investments in alternative proteins, having raised $623 million in 2021, a 450% increase from $114 million in 2020, according to a report published in March by the Good Food Institute Israel. $320 million in funds were poured into Israeli startups developing alternative protein products in the first half of 2022 (H1 2022), representing a 160% increase from 2021. Israel ranks second when it comes to alternative protein investments as a whole, second only to the United States.
One of the leading companies in the alternative protein industry in Israel is Steakholder Foods (NASDAQ: STKH). The company is committed to developing sustainable solutions for producing a variety of beef and seafood products, both as raw materials and whole cuts, as an alternative to industrialized farming and fishing. With its headquarters in Rehovot, Israel, and listed on the Nasdaq Capital Market under the ticker “STKH,” Steakholder Foods is one of the most innovative companies in the cultivated meat industry.
Recently, Israeli Prime Minister Benjamin Netanyahu visited Steakholder Foods’ Rehovot facility and tasted some of the company’s 3D-printed cultivated meat products, including its 3D-printed cultivated meat kebab. During the tasting, the Prime Minister exclaimed “The Kebab is fantastic! I highly recommend it”.
The Prime Minister’s visit highlights the thriving foodtech industry in Israel, which is leading the way in foodtech innovation. With innovative solutions like cultivated meat and 3D bio-printing, we can create a more sustainable food system that is better for both the environment and animal welfare.
The Prime Minister’s visit also included industry leaders, government officials, and representatives of investors, academia, and the non-profit sector. Attendees included the Israeli Minister of Innovation, Science and Technology, Mr. Ofir Akunis, the Director-General of the Prime Minister’s Office, Mr. Yossi Sheli, the CEO of the Israel Innovation Authority, Mr. Dror Bin, the Director-General of the Ministry of Health, Mr. Moshe Bar Siman Tov, and the Prime Minister’s Animal Rights Advisor, Mrs. Tal Gilboa.