Precision Fermentation Industry Could Generate $30Bn Annually for Australia, Says New White Paper
Australia’s Food and Beverage Accelerator (FaBA) has released a new report exploring the challenges, economic impact, and sustainability of the country’s precision fermentation industry. More than 70 authors from industry, government, and academia contributed to the white paper, highlighting precision fermentation as a crucial technology to transform the food system with tailored and sustainable proteins, fats, and other compounds beyond alternative proteins. The comprehensive paper outlines key recommendations to boost the sector, including forming a national food plan and appointing a food minister. It highlights regulatory frameworks as essential to promote innovation while ensuring safety and maintaining public trust. Other recommendations include establishing common international standards, boosting investment in large-scale manufacturing, and standardizing methods to assess environmental impact. “Our primary recommendation is to develop a …