July, 20208 IN MYV EWAN ASIAN APPROACH TO ALTERNATIVE MEATSBY CHRISTIAN H. CADEO, MANAGING PARTNER, BIG IDEA VENTURESWherever you travel in Asia you will find local dishes made from almost every part of almost every animal that can be eaten. When you venture outside the urban centers you can discover local ethnic delicacies that even use the blood, hooves, and everything else from the animal that most of Western society might deem as being unfit for consumption.While the older generation harkens back to time-honored traditions of eating beef and pork, lamb and of course the various flavors of poultry, the younger generations are questioning how important meat is to them. Millenials in particular are incredibly astute when it comes to climate-related issues as well as health and diet, so the recent advancements in alternative proteins have created a paradigm of questioning whether we really need to be eating as much traditional meat as we once did.The question is are we seeing the same level of interest and investment into alternative proteins as we are in the West? The answer is a resounding yes, interestingly the take on alternative protein is also taking on an Asian flavor as well. You only need to look at what we are investing in at Big Idea Ventures which is the VC fund I work at to realize the appetite is ravenous.What is similar between East and West is the shared goal of aiming to keep the eater happy; as long as it tastes and feels like the meat they are used to generally the end consumer will be satisfied. And truth be told in many Asian dishes like curries and soups it's often difficult to discern what you are even eating!What is important is the strong relationship between the ingredients and the taste of the dish. For this reason companies like Karana have bet big on whole plants as meat replacements, starting with young Jackfruit because it's consistency is already very meat-like (especially like pulled pork or chicken). When it is harvested early it has a neutral taste that can easily take in the flavors of the spices it is being cooked in. Pulled pork tacos are a favorite dish jackfruit is being substituted for with dozens of recipes popping up across the internet, Karana is now optimising Jackfruit for Asian applications such as charsiu. One of the success factors of Jackfruit is that it is widely abundant across most of the tropical and subtropical Asian countries. Because it is eaten as a fruit and as an ingredient transferring it into a meat substitute isn't a far fetch. Add in the plant's massive yield (2-3 tons of fruit per year) and it makes the equation difficult to ignore. Pork is a target for alternative proteins because of the detriment to the climate, the harshness the conditions of raising pigs for slaughter, and also its religious implications. With 62% of the global population of Mulsims living in Asia the opportunity to introduce a pork substitute has clear financial implications. Enter Phuture Meat which is another Big Idea Ventures investment that make a 100% plant-based pork mince product that like most other plant-based proteins, look and taste like pork mince.
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