New Report Projects an $18.8 Billion Food Biomanufacturing Industry for Canada
Following up on its 2021 report, Ontario Genomics has updated economic analysis for Canada’s food biomanufacturing sector in the Food Innovation in Canada Report, which shows explosive economic and job creation opportunities across the country. Cellular agriculture, or food biomanufacturing, is the process of using precision fermentation, cell cultivation or tissue engineering to make various foods, ingredients and even textiles that are usually made through traditional agriculture and manufacturing.
Along with input and feedback from researchers and organizations that specialize in food security and innovation, Dr. Michael von Massow at the University of Guelph, provided the economic analysis for this ground-breaking report on the future of precision fermented and cultivated foods in Canada. Here are some of the highlights:
- Food biomanufacturing in Canada could become an $18.8 billion industry creating 125,000 jobs as soon as 2050, with greater growth in the long term.
- Ontario could lead the country in food biomanufacturing with a $13 billion industry potential that could create over 91,000 jobs.
- A cohesive national strategy, large-scale production facilities, research and commercial development support, and an agile regulatory process are needed to help Canada reach its potential and stay globally competitive.
Report author and Director of Strategic Partnerships, Elaine Corbett, says, “This report shows government and food producers the massive economic potential for food biomanufacturing in our country and gives the data needed for a national strategy and investment. This kind of food innovation is already happening around the world and considering the shifting economic climate, Canada needs to do even more to develop this manufacturing for Canadians but also to export to other countries.”
Since the 2021 report, there has been significant growth in the number of Canadian companies, investment, research and development, but more support is needed to help this industry overcome commercial scale-up challenges.
Ontario Genomics is a non-profit organization funded by the Government of Ontario and other partners. Since 2000, we’ve been involved with cutting-edge science to find homegrown solutions to challenges the world faces like climate change, food insecurity and in healthcare.
