Insect protein companies are eagerly anticipating the upcoming regulatory framework from the Singapore Food Agency (SFA) that will allow the sale of insect-based food products. Expected to be introduced in the first half of 2024, this framework will approve 16 species of insects, including crickets and silkworms, for human consumption. The move aims to cater to the growing demand for sustainable and nutritious food options among affluent and health-conscious consumers in Singapore.
Several international insect protein companies are preparing to enter the Singapore market once the regulations are in place. Japanese startup Morus plans to introduce silkworm-based protein bars, protein powder, and matcha powder, targeting high-end consumers. Similarly, Vietnamese company CricketOne is set to launch cricket protein concentrate, powder, and crackers through agreements with local distributors.
Companies like Altimate Nutrition and CricketOne are focusing on workshops, product presentations, and taste tests to introduce the concept to consumers. By emphasizing the health benefits and sustainability of insect protein, these companies hope to overcome initial aversions and build a market for their products.
Singapore’s regulatory nod is expected to bolster the reputation of insect protein companies, making it easier to expand into other markets. With its reputation for strict safety standards, gaining approval in Singapore will enhance these companies’ credibility and facilitate entry into neighboring countries like Malaysia and Indonesia, which currently lack specific regulations for insect consumption.
(Source: The Straits Times)
