Hungarian agriculture has an opportunity to attract massive inward investment to take advantage of the growing need for alternative and sustainable food across Europe. Consumer interest in sustainable food is growing rapidly, as is the cost of traditional food sources. Technologies harnessing plant-based protein are positioning themselves nearest the sources of raw materials. Infrastructure to support this growth is also critical – as are the inputs, such as corn, barley, and water and skilled labour.
Investors see opportunities not only in new businesses coming online in the wake of growing demand, but also anticipate opportunities stemming from rapidly unfolding environmental challenges facing our communities.
A major shift in consumer behavior across the global market has sparked a growing interest in alternative food sources, such as plant-based and microbial-based proteins. Also, a growing number of people are turning to more environment-friendly products. The demand for alternative proteins is mainly fueled by the perception that these proteins are healthier and more environmentally friendly than animal-derived proteins.
The global trend in food industries is to develop food products using alternative ingredients that provide superior sensory appeal and nutritional and health benefits. As a result, there has been an increased global demand for alternative proteins. In addition, factors including the potential of insect, microbial, and plant proteins, and the increasing inclination towards vegan diet are expected to provide significant growth opportunities for alternative food ingredient manufacturers.
Developing new food and drink products is a complex process – requiring knowledge of ingredients, processing techniques, packaging materials, legislation and consumer demands and preferences. In a constantly evolving environment, technology and strategies play a key role in the resilience of the food industry. From sustainable food production systems to novel ingredients, environmental impact within manufacturing processes to enhancing nutritional quality, and innovation in technology will lead the response to the challenges ahead for the future of the food industry.
“Pannonia Bio is committed to its ongoing alternative protein investments, which are founded on Hungarian GMO-free corn and barley, as well as microbial fermentation. As for our parent, ClonBio Group Limited, since it has operations in both Canada and Hungary, it appreciates that Canada and Hungary are, in similar ways but with important differences, each poised to be major players over the next decade. We believe that there is substantial cross fertilization possible between these two countries in the field of alternative proteins”.- said Ferenc Hodos, Strategic Director of Pannonia-Bio Zrt.
In response to the new market forces and consumer concerns, industry leaders are rolling out a range of products and ingredients using different plant-based proteins (soy, pea, barley), new animal sources (insects), and biotechnological innovations (cultured meat or fungal protein).
“As consumer interest in alternative food options is increasing globally, food industry players that want to capture the opportunity must understand the evolving market dynamics and where to place their bets. The Food and Water Sustainability Forum will allow everyone to get fully immersed in the alternative protein and broader food technology landscape while providing networking access to key industry players. This event is seeking to attract the attention of investors and technology owners in Europe and Canada with concentrated dialogue on sustainable food and water matters. This is an opportunity for Hungary to show that it is an important stakeholder in this evolving marketplace.” – said Dr. Judit Lovas, the managing director of the CCCH.
“We are excited to sponsor of the Canadian Chamber’s upcoming Food & Water Sustainability Forum. Food production and water are integrally linked and sustainable agriculture, aquaculture and water reuse are just a few examples. Xylem, as a global water technology company, is uniquely positioned to help solve the world’s water challenges and sustainability is at the core of everything we do. We look forward to collaborating with industry and thought leaders in Hungary and globally to advance our mission.” – said Nicole Springer, Managing Director, Eastern Europe Central, Xylem
The panels of the Business Forum are in the following topics: Health and Nutrition, Sustainable Food Processing Systems, Technology and Innovation in the Food Industry, Sustainable Water. See the details of the event here.
“Hungary has an opportunity to take a leading position on how technologies are funnelled into the future of how we feed our communities around the world. Sustainable food technologies looking to offer new and renewable sources of nutrition will focus on areas where there are natural and renewable resources in agriculture. As an agricultural powerhouse, Hungary is ideally located for this in the centre of Europe and presents a stable and viable environment for businesses that are seeking a strategic position as well as the mature inputs.” – said Nicholas Sarvari – President of the Canadian Chamber of Commerce in Hungary.
“We’re looking for interested company leaders from Hungary and abroad, in the food and water industries and beyond, to join us as we explore new ideas and approaches to being responsible and running sustainable businesses.” – said Dr. Judit Lovas, the managing director of CCCH.
The venue of the conference is the Liz and Chain Bar of the Marriott Hotel on October 4. with its charming roof top terrace and amazing panorama. Tickets are available here.