Prime Highlights:
- Australia has a rare opportunity to become a global hub for food biomanufacturing, boosting both the economy and national food security.
- Experts warn that strong government support and quick action are needed to secure this early advantage in the global market.
Key Facts:
- The report highlights Australia’s strengths, including a trusted food safety system, high-quality raw materials, research capabilities, and trade links with Asian markets.
- The food biomanufacturing sector is under-funded compared to other bio-based industries, which could risk Australia losing its early-mover advantage.
Key Background:
A new report says Australia has a rare chance to become a global leader in food biomanufacturing, which could boost the economy and strengthen food security. Experts believe that the country must move fast and with the firm backing of the government to utilize this opportunity to the maximum.
In a report by Cellular Agriculture Australia, the Agrifood Innovation Institute, the Australian Strategic Policy Institute, and ANU National Security College, it is noted that Australia has several strengths, such as a trusted food safety system, raw materials of high quality, a strong research base, and trade connections with the emerging Asian markets.
Food technologies such as precision fermentation, cell cultivation, and plant molecular farming are seen as key drivers to boost food security, decarbonize production, and generate employment. The report says Australia’s food biomanufacturing sector doesn’t get enough funding compared to other bio-based industries, which could risk its lead in the global market.
It suggests having a clear national plan for food technology with strong and continuous investment. The government is urged to recognize food security as a key national priority and include biotechnology in policies like the Feeding Australia plan.
The report recommends that the government, industry, and research groups should collaborate, set up clear objectives, allocate more funds to research, and relax the regulations. It would recommend that FSANZ be granted additional resources to grant new foods quickly, revise the Food Standards Code to suit the new technologies, and establish an exclusive biomanufacturing agency, such as the Australian Renewable Energy Agency.
The report also notes that the industry struggles with limited access to shared facilities. Large-scale commercial biomanufacturing facilities are scarce, forcing companies to look overseas. The report suggests targeted public investment, sector assessments, and risk-tolerant funding mechanisms to support the domestic industry.
“If we act now, food biotechnologies and biomanufacturing can deliver resilience, prosperity, and a leadership position for Australia in the global bioeconomy,” the report concludes. “The building blocks are here, the question is whether we will move fast enough to seize them.”
