Background
In a previous post, I said that if you want to get rich, hack what we eat. Statistica just published a chart showing the estimated alternative meat sales in the USA and parts of Europe in 2018. As you can see, it is already a huge growth area, with Barclays estimating that alternative meat alone could reach $140 billion in 10 years time. I think it goes without saying that the more innovation in this space that there is, the faster that growth will be achieved.
You will find more infographics at Statista
Food innovation for South Africa
Being an agricultural country, and having good universities and good technology research, there is no reason that this growth industry could not drive significant economic growth in South Africa. If I were a good South African university, I would establish a major research programme in the area of meat alternatives. If I were government, I would put money into establishing South Africa as a world leader in hacking what we eat. If I were an angel investor, I would look to develop businesses in this area of meat alternatives in South Africa.
Being an agricultural country, and having good universities and good technology research, there is no reason that this growth industry could not drive significant economic growth in South Africa. If I were a good South African university, I would establish a major research programme in the area of meat alternatives. If I were government, I would put money into establishing South Africa as a world leader in hacking what we eat. If I were an angel investor, I would look to develop businesses in this area of meat alternatives in South Africa.
We have missed the knowledge economy, we are barely a blip in the so-called “third industrial revolution”. Are we up for this, or will we also be a blip on the food innovation growth spurt that is coming, relegated as before to the role of mere consumers of the output.
That depends on strategies and decisions made this year and next. Later, and we will be late to the party. Producers or consumers, we get to choose if we act fast enough. We have to develop the science, engineering and business capabilities, but this is the next big wave of growth.
