Future Talk by NXPO recently took place on a virtual format, focusing on the latest food trend in plant-based meat. Invited guest speakers included Assist. Prof. Dr. Akkharawit Kanjana-Opas, Vice President of the National Science and Technology Development Agency (NSTDA) and Food Innopolis CEO and Mr. Worakant Tanachotevorapong, Chief Marketing Officer and Co-Founder of More Meat, a plant-based meat startup. The talk was moderated by NXPO President Dr. Kitipong Promwong.
More Meat offers unseasoned and unflavored plant-based meat, allowing customers to create their own taste. Mr. Worakant started the business as an importer and distributor of plant-based food products. Imported products, however, did not meet the requirements of Thai customers, so the company decided to develop its own plant-based food products based on the potential of plant-based food market which has experienced 30% growth in Thailand and China since 2019. The company worked with a university professor for one year, creating a plant-based meat with mushroom as the main ingredient.
Dr. Akkharawit saw high business opportunity for both startups and SMEs in Thailand to develop diverse plant-based food products to fulfill rising global market following the trend in healthy and eco-friendly lifestyle. Global food demand is expected to increase by 60% in the next 30 years due to the growth in population, so is the demand for protein. With the rise in consumers’ preference for alternative protein, plant-based meat is gaining popularity. Based on Thailand’s rich biodiversity, the country has potential to develop protein from varieties of sources.
On the topic of government’s support, Mr. Worakant suggested the assistance in advanced technology, innovation and equipment in food technology. Particularly, equipment and machinery for food manufacturing can be expensive for startups. It will be very helpful, if the government can establish a fully equipped facility to provide services of equipment to startups. Market incentive measures will also help startups to grow their businesses.
Dr. Akkharawit provided information on Food Innopolis that it offers fully integrated services – from R&D to manufacturing, registration and marketing – to strengthen the competitiveness of Thai food industry. Food Innopolis worked with a network of 15 universities and S&T agencies in establishing pilot plants for food production to provide services to food enterprises. The pilot plant at Kasetsart University designed for alternative protein is being upgraded to GMP compliance. Food Innopolis is also working with modern trade players to help startups and SMEs connect to this distribution channel.
Dr. Kitipong added that Thai food industry has potential to perform well amid the COVID-19 pandemic as the industry has always employed creativity to meet customers’ demand and there are a number of government agencies supporting the R&D and innovation. He hoped this talk would inspire entrepreneurs to start new innovative businesses.
