The Asian Cuisine Market Is Expected To Reach $233.3 Billion By 2030 Heres How Steakholder Foods Is Increasing Seafood Supply To Meet Demand
–News Direct–
By Faith Ashmore, Benzinga
In recent years, Asian cuisine has gained even more popularity in North America. A Pew Research study concluded that 73% of all counties in the U.S. have at least one Asian restaurant of some kind. Asian cuisine has been especially embraced by young Americans. Scholars largely believe that this is a byproduct of the increased exposure to Asian culture through travel and pop culture like Anime and K-pop, both of which have huge fandoms in Western society.
The global Asian cuisine market generated approximately $145.3 billion in revenue in 2022 and is expected to grow at a CAGR of over 7% from 2023 to 2030. Another reason the Asian cuisine market is growing is an increased awareness about healthy eating with many individuals actively seeking ways to integrate nutritious choices into their diets. Asian cuisine aligns well with this goal as it often emphasizes the use of fresh ingredients and employs simple cooking methods that preserve essential nutrients.
Simultaneously, the expanding middle class in Asian countries has also contributed to this growth. As incomes have grown, more individuals have the financial capacity to dine out at restaurants or acquire higher-quality ingredients for home cooking. Consequently, there has been a surge in demand for sophisticated and upscale Asian cuisine.
However, the growing demand for Asian cuisine begs the question of whether supply can keep up with demand. Deep-tech food company Steakholder Foods Ltd (NASDAQ: STKH) is making significant strides in the field of 3D-printed meat and fish. With its technology, the question of adequate supply might become a thing of the past. The company has developed a state-of-the-art industrial-scale 3D meat printer that could be poised to revolutionize meat and fish production. The companys core mission is to offer a diverse range of meat and fish alternatives crafted from plant-based ingredients, with the aim of replicating the taste and texture of traditional products. By doing so, they are effectively helping transform the food industry towards a sustainable and efficient future.
The company has emphasized mastering the intricacies of 3D printing technology, enabling them to create a wide variety of meats including fish fillets and beef steaks. Steakholder Foods successfully created 3D print fish, which was a significant step in this technology as the companys milestone marked the worlds first cultivated fish fillet. The company also now offers eel ink as one of its products, as well as shrimp ink. Eel and shrimp are popular ingredients in Asian cuisine.
Asian cuisine is known for its bold flavors, diverse ingredients and artful presentations. The staples of Asian cuisine vary across different regions, but they often include rice, noodles and a variety of vegetables. Seafood and tofu are popular sources of protein. As the demand for Asian cuisine continues to grow, companies like Steakholder Foods could become important players in international supply chains. With its advanced 3D-printed meat technology, Steakholder Foods is making strides toward revolutionizing the meat and seafood industry by providing a sustainable, scalable and environmentally sound way of producing food.
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