Canadian Food Biomanufacturing Projected to Create 125,000 Jobs by 2050
Ontario Genomics has released an updated Food Innovation in Canada Report, providing economic projections for the country’s food biomanufacturing sector. The report estimates that by 2050, the industry could be valued at $18.8 billion and generate approximately 125,000 jobs. Food biomanufacturing, which includes cellular agriculture and precision fermentation, involves producing food, ingredients, and textiles using biotechnology rather than traditional agricultural methods. The updated analysis, conducted by Dr. Michael von Massow from the University of Guelph, assesses the industry’s potential and the factors required for growth. Ontario is projected to play a central role in this sector, with a potential $13 billion industry that could create over 91,000 jobs. The report identifies the need for a national strategy, investment in large-scale production facilities, research and development …