Post-Summit Report 2018

FIA FOOD FOR THE
FUTURE SUMMIT 2018

Summary Report

EXECUTIVE SUMMARY

The FIA Food for the Future Summit brought together 350 senior leaders from the food
& beverage (F&B) industry, government agencies, civil society, academia, start-ups and
venture capital firms from around the world. Together they debated, shared insights and
charted the direction for the future of food. The first of its kind in the region, experts at
the Summit explore how innovation is transforming and disrupting the food ecosystem,
and how we can forge new partnerships to create growth opportunities for start-ups,
entrepreneurs, and multi-national companies in the industry.

Delegates heard from over 40 distinguished speakers and panellists from leading brands
across Asia and the globe. They shared insights on topics including shifting trends in food
consumption, building resilience in the food value chain and how partnerships will drive
innovation for sustainable growth across the industry.

The Summit also showcased innovations from some of the most exciting food technology
businesses and start-ups from around the world, such as Alchemy Foodtech, Cosucra,
Life3Biotech, Nutrition Innovation, Oumph!, Sophie’s Kitchen, Tamu and Tria. Applying
cutting-edge technology, they are shaking up the food industry with new products, from
plant-based ingredients to alternative proteins.

It is a challenging but encouraging time for the food industry. The Summit discussions
highlighted a number of common threats to the sustainability of our industry, with more
mouths to feed, rising levels of diet-related health conditions and inappropriate plastic
waste management. The industry is poised for transformation, however, and leaders at
the Summit agreed that technological and business innovations emerging from food
companies in Asia can help chart the future of the industry and lead to a healthy,
sustainable food supply.

This report provides a summary of the top-level highlights and takeaways from the Summit.
They will help shape FIA’s future focus, along with themes for next year’s Summit. We look
forward to taking the dialogue further in 2018 and beyond.

See you at the summit next year!

Executive Director
Food Industry Asia (FIA)

FOOD INDUSTRY ASIA | 2

SPEAKERS

Heng Swee Keat Ehab AbouOaf Sunny Verghese Princess Viktroia de
Minister for Finance Regional President Co-Founder & Group CEO Bourbon de Parme
Asia-Australia, Middle East and Africa
Singapore Mars Wrigley Confectionery Olam International Patroness
Save the Children

Nicholas Fereday Kamel Chida Pradeep Pant Peter van Deursen
Executive Director & Deputy Director President Chief Executive Officer
Nutrition, Private Sector
Senior Analyst Engagement & Innovation Pant Consulting & Asia Pacific
Food & Consumer Trends Bill & Melinda Gates Foundation Member, Supervisory Board Cargill

Rabobank Royal DSM NV

Douglas Foo Christina Law Prerna Suri Maurizio Brusadelli
Founder & Chairman Group President Director Executive Vice President &
Asia & Latin America
Sakae Holdings Klareco Communications President
General Mills Asia Pacific, Middle East & Africa

Mondelez International

Praveen Someshwar John Savage George Graham Ralph Graichen
Senior Vice President & President & Vice President Director

General Manager Chief Executive Officer Research & Development Food & Nutrition
Asia-Pacific Asia Pacific, Middle East & Africa Asia-Australia, Middle East & Africa Biomedical Research Council
PepsiCo
Kerry Mars Wrigley Confectionery A*STAR Singapore

Pascal de Petrini Pier Luigi Sigismondi Daniel Abramowicz Trish Hyde
Chairman President Executive Vice President Director, Plasticity &
Asia Technology & Regulatory Affairs Managing Director,The Plastics Circle
Danone South East Asia & Australiasia
Unilever Crown Holdings

FOOD INDUSTRY ASIA | 3

SPEAKERS

Fraser Thompson Andre Rhoen Josh Tetrick Nick Halla
Director Vice President Chief Executive Officer & Chief Strategy Officer
Human Nutrition and Health
AlphaBeta Co-Founder Impossible Foods
Asia Pacific JUST
DSM Nutritional Products

Jonathan Middis Jenny Costolloe Tong Shuh Lan Amir Zaidman
Chief Technology Officer Founder Director Vice President
Business Development
Tamu Collective17 Food Manufacturing The Kitchen FoodTech
Enterprise Singapore

Gary Scattergood Arturo Elizando Yuki Hanyu Eugene Wang
Editor-in-Chief Chief Executive Officer Chief Executive Officer Founder
Asia Pacific
Clara Foods Integriculture Inc Sophie’s Kitchen
William Reed Business Media

Ricky Lin Verleen Goh Eddy Lee Simone K Frey
Founder & Chief Executive Officer Chief Food Fighter & Co-Founder Founder & Managing Partner Managing Director
Atlantic Food Labs
Life3 Biotech Alchemy FoodTech CoffeeVentures

Niccolo Manzoni Matthieu Vermesch Joseph Zhou
Founding Partner Founder Investment Partner
Five Seasons Ventures
VisVires New Protein Bits x Bites

FOOD INDUSTRY ASIA | 4

SPEAKER HIGHLIGHTS

WELCOME ADDRESS

Ehab AbouOaf

FIA President & Regional President
Asia-Australia, Middle East & Africa
Mars Wrigley Confectionery
The industry is facing pressures and challenges
from multiple perspectives – public health and
nutrition, transparency and traceability of supply
chains, climate change, waste and environmental
sustainability, land use and deforestation, to name
a few.
It depends on us.The people in this room,the myriad
of stakeholders that make-up the ecosystem. What
we do here today matters.
Innovation will require uncommon collaborations
between different groups of actors and it will
ultimately help create the new innovations that will
drive the future.

GUEST OF HONOUR ADDRESS
Heng Swee Keat

Minister for Finance
Singapore

To meet the many new challenges, and to
capture new opportunities, innovation will
be critical.
We must recognise the need for“disruption”
or “change”; dare to challenge the status
quo; build on it, and innovate.”
Today’s Summit is another clear example of
how we are bringing together government
service providers,multinational companies,
local small and medium enterprises, and
start-ups based in Singapore to exchange
ideas on emerging food technology
trends such as food reformulation and
sustainable food packaging, food safety
and new food processing technologies

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SPEAKER HIGHLIGHTS

KEYNOTE ADDRESS

Sunny Veghese
Founder & Group Chief Executive Officer
Olam International
Companies that change individually would not make a difference.The entire sector
is required to change together, in which the policies will also needs to support the
change in order for the industry, together, to change the world.

PARTNERSHIPS AND THE FIGHT AGAINST MALNUTRITION

HRH Princess Viktória de Bourbon de Parme
Patroness
Save the Children
We need to invest in food systems so that consumers have access to healthy food,
and we need to inform consumers of healthy interventions. I believe in this room we
have the tools to combat malnutrition.
Companies and NGOs need to meet halfway to drive innovation, and governments
play an essential role as they can turn the tides of malnutrition on all levels. Solutions
already exist, they just need to be made readily available.

A DIALOGUE WITH GATES FOUNDATION:
DRIVING INNOVATION & HEALTH

Kamel Chida
Deputy Director, Private Sector Partnership
Development for Nutrition
Bill & Melinda Gates Foundation
Focusing on children can break the life cycle of malnutrition particularly pre-pregnancy
– sometimes hunger is hidden, malnourishment.
The Gates Foundation wants to partner with the industry and the entire infrastructure
surrounding to create sustainable impact at scale.

OPPORTUNITIES ABOUND - FOOD INNOVATION AND THE
ACCELERATING PACE OF CHANGE

Nicholas Fereday
Executive Director & Senior Analyst, Food & Consumer Trends
Rabobank
Faster food is happening at all levels of the food chain – speed of change is making
it hard for bigger companies to catch up. Innovators are leading the way – we are
seeing more unexpected guests at the table, mostly technology companies such
as Amazon. Such trends impact farmers, yet these trends are driven by consumers –
change and revolution is happening throughout the food chain.
Personalising of food is getting increasingly important because one size does not fit
all.

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PANEL
HIGHLIGHTS

| FOOD INDUSTRY ASIA FOOD INDUSTRY ASIA | 7

CEO FORUM:
FOOD REFORMULATION

(FROM LEFT TO RIGHT) Reformulation is a continuous process which many brands
MAURIZIO BRUSADELLI have undertaken. How are multinationals progressing on their
EXECUTIVE VICE PRESIDENT & reformulation journey? And how can the industry address
the challenges associated with product reformulation? This
PRESIDENT panel discussion aimed to address these questions and
ASIA PACIFIC, MIDDLE EAST & AFRICA share examples of best practice.
Industry CEO’s discussed growing policy pressures and
MONDELĒZ INTERNATIONAL changing regulatory environments, which are proving to be
J O HN S AVAG E key drivers in accelerating reformulation efforts. In the past,
PRESIDENT & reformulation was not commonly discussed due to concerns
around compromising product taste.
CHIEF EXECUTIVE OFFICER Today, food companies are pushing on with product
ASIA PACIFIC, MIDDLE EAST & AFRICA, innovation and reformulation in response to evolving
consumer trends. Panellists agreed that this must be
KERRY complemented with consumer education on portion control
RALPH GRAICHEN and physical activity, and front-of-pack nutrition labels to
DIRECTOR, FOOD & NUTRITION, facilitate informed decisions and tackle the growing rates of
BIOMEDICAL RESEARCH COUNCIL, obesity and non-communicable diseases, such as diabetes.
A*STAR SINGAPORE All speakers agreed that product innovation and
reformulation is a journey at their companies, and needs a
( M O D E R ATO R ) phased approach to avoid negatively affecting consumers.
P R AVE E N S O M E S HWA R This is a key point for the industry, par ticularly because
SENIOR VICE PRESIDENT & “nutrients-to-limit” such as sugar, fat and salt play a role
GENERAL MANAGER, ASIA PACIFIC in preservation and texture, besides influencing taste and
f l a v o u r.
PEPSICO
GEORGE GRAHAM

VICE PRESIDENT
RESEARCH & DEVELOPMENT
ASIA, MIDDLE EAST & AFRICA
MARS WRIGLEY CONFECTIONERY

KEY TAKEAWAYS:

As an industry that caters to ever-changing consumer
preferences, businesses must respond accordingly
to deliver. Collaboration with other businesses and
stakeholders will also be critical to educate consumers
on nutrition and to strengthen the industry’s overall
reformulation efforts.
Governments can help facilitate industry reformulation
by, for example, by introducing incentives to motivate
companies to stay ahead of the curve.

FOOD INDUSTRY ASIA | 8

CEO FORUM:
SUSTAINABLE PACKAGING

(FROM LEFT TO RIGHT) Plastics and sustainable packaging is fast becoming a critical
PIER LUIGI SIGISMONDI concern in Asia where more than half of all plastic waste entering
the oceans is contributed by just five countries – China, Indonesia,
PRESIDENT the Philippines, Vietnam and Thailand. With the food industry
SOUTH EAST ASIA & AUSTRALASIA a significant consumer of plastics for product packaging and
Asia at the heart of the challenge, there is a need for collective,
UNILEVER innovative and immediate action. The food industry can play a
TRISH HYDE leading role.
DIRECTOR, PLASTICITY & FIA shared results from our recent study on plastic waste
MANAGING DIRECTOR management in Asia, which provides an in-depth look at the
THE PLASTICS CIRCLE issue from a regional lens. . The findings indicated that there is no
FRASER THOMPSON single solution, and highlighted a need for data and information,
alignment of efforts between local, regional and international
DIRECTOR actors, and a focus on levers and regions that can yield the
A L P H A B E TA greatest impact.
( M O D E R ATO R ) Expert panellists discussed the benefits of a universal standard on
PASCAL DE PETRINI plastics and sustainable packaging, coupled with coordinated
CHAIRMAN, ASIA action to implement scalable pilot projects based on a firm
understanding of the conditions “on the ground”. These are
DANONE immediate priorities that can help stem the tide of plastic waste..
DANIEL ABRAMOWICZ Panellists agreed that technologies should be adopted to
EXECUTIVE VICE PRESIDENT develop bio-sourced materials, and we need to step up
consumer education. As companies seek to explore materials
TECHNOLOGY & that could increase shelf life, it is also important to consider the
REGULATORY AFFAIRS recyclability of materials, in light of the growing importance of
CROWN HOLDINGS INC sustainable packaging.

KEY TAKEAWAYS KEY TAKEAWAYS:

With an estimated truck load of waste being dumped into our
oceans every minute, now is the time to act.
There is no silver bullet for managing plastic waste. Convening
dialogues and ensuring the right stakeholders are around the
table will be the first step to aligning our efforts and creating

FOOD INDUSTRY ASIA | 9

L E A D E R S ’ D E B AT E :
BUSINESS SUSTAINABILITY IN ASIA

Investors, consumers and businesses all around the world are increasingly aware of the
need for sustainable development. This is partly because strong business growth and profit
margins are no longer enough – sustainable principles must be embedded into business
models for them to be successful.
Leaders from companies at different stages of the food chain explored the increased
responsibility, scrutiny and expectations on the industry to deliver a sustainable supply of
food while offering healthier products. The Asia Pacific region has seen significant economic
growth over the years, and there is a growing middle-income market that is looking for
transparency, healthier products and food that can represent their own values before they
affiliate with a brand. Panellists agreed that these evolving consumer trends and preferences
can be seen as both a challenge and oppor tunity for the industry.
They shared examples of what the food industry doing in response to these challenges, and
explored how the business community can deliver sustainable, resilient and healthy food
for future generations.

KEY TAKEAWAYS:

Food businesses must to continue to reinvent themselves throughout their worldwide
supply chains. They need to move towards alternative investment models and push for
greater collaboration and inclusivity to harness the collective strength and networks of
the industry.
This needs to occur across borders, regardless of business size and earnings, to drive
change at scale and re-imagine what sustainable business can be.

s

(From left to right)
Christina Law, Group President, Asia & Latin America, General Mills
Sunny Verghese, Co-Founder & Group Chief Executive Officer, Olam International
Prerna Suri, Director, Klareco Communications (Moderator)
Peter Van Deursen, Chief Executive Officer, Asia Pacific, Cargill
Douglas Foo, Founder & Chairman, Sakae Holdings

FOOD INDUSTRY ASIA | 10

(From left to right)
Josh Tetrick, Chief Executive Officer & Co-Founder, JUST
André Rhoen, Vice President, Asia Pacific, Human Nutrition & Health, DSM Nutritional Products
Jenny Costelloe, Founder, Collective17 (Moderator)
Jonathan Middis, Chief Technology Officer, Tamu
Nick Halla, Senior Vice President, International Business Development Impossible Foods

REDEFINING FOOD

Food is an essential resource for everyone, yet food systems are not as efficient and as
effective as they could be. Malnutrition, increasing rates of obesity and non-communicable
diseases, environmental impact and food waste are some of the issues the industry needs
to grapple with. On top of this, the global population is estimated to hit 9.8 billion by 2050.
The outlook could be viewed as an insurmountable challenge, however others can see
opportunities.
Panellists from a variety of innovative food businesses discussed how the future of food
is no longer just about sustenance. It has been redefined to incorporate health, nutrition
and sustainability from a supply chain and environmental perspective. To feed the world’s
burgeoning population and do so in a way that is both nutritious and affordable, a more
sustainable food system beyond animal protein will be needed.
The speakers shared examples of how they are addressing the myriad of public health issues
through including vitamins and micronutrients in products and providing alternatives to
animal protein through innovative plant-based foods. In doing so, they are also minimising
the environmental impact of agriculture and helping to reduce food waste.

KEY TAKEAWAYS:

The industry must engage investors, governments and consumers to create a healthy food
ecosystem. This can be achieved by sharing of ideas and knowledge and building on
existing skill sets, technical knowledge and infrastructure to accelerate progress collectively.

FOOD INDUSTRY ASIA | 11

CREATING A FOOD & BEVERAGE ECOSYSTEM

Food innovation should be looked at through a technological, social and cultural
lens. Innovation takes place throughout the food system, from production and
harvesting, to primary and secondary processing, manufacturing and distribution.
How can a nation create an ecosystem which spurs and cultivates innovation?
Panellists from government, media and social ventures addressed these questions
and discussed Singapore and Israel’s food systems as specific examples of best
practice.
As par t of the Singapore government’s commitment to nur turing and growing the
country’s food ecosystem, Enterprise Singapore, the lead government agency driving
the food tech and food innovation agenda, launched FoodInnovate at the Summit.
FoodInnovate sets a vision for Singapore to become a leading food and nutrition
hub in Asia through a four-pronged approach of providing infrastructure, building
a knowledge base, driving co-innovation, and cultivating food technologies.
Food is not yet a key industry in Israel, but the country is regarded as a leader in
technology and innovation. With the gradual convergence of food and technology,
Israel recognises the relationship between the two in creating greater value in the
food supply chain.
Israel is cultivating a vibrant food tech ecosystem that connects the community
and encourages opportunities for information sharing. The Kitchen works closely
with the Israel Innovation Authority and taps into the expertise of global partners.

KEY TAKEAWAYS:

Innovation across sectors will help spur collaboration between -
multinational companies and start-ups. This will help move innovative
ideas from the drawing board to consumers. Governments can play a
key role by creating platforms that bring these actors together to form
partnerships and scale up innovation.

(From left to right)
Amir Zaidman, Vice President, Business Development, The Kitchen FoodTech Hub

Gary Scattergood, Editor-in-Chief, FoodNavigator-Asia & NutraIngredients-Asia
Tong Shuh Lan, Director, Food Manufacturing, Enterprise Singapore

FOOD INDUSTRY ASIA | 12

THE DISRUPTORS OF THE FOOD & BEVERAGE INDUSTRY

Armed with technology’s potential and the Taste remains a key element in the
vision to transform the food industry, food development of new products. Innovators
innovators are challenging the way we have to find the balance between
produce and eat food, and how nutrition, creating nutritious food, while avoiding
food safety and sustainability are viewed. compromising on taste.
Ground-breaking innovations, such as
cellular agriculture and plant-based KEY TAKEAWAYS:
proteins, are providing solutions today to
the food supply challenges of tomorrow. Start-ups can look to existing businesses
to learn and access scalability options.
The disruptors of the beverage F&B industry Uncommon collaboration is needed for
have become the growth engine of the start-ups to achieve breakthroughs in the
food industry. Some of the most exciting space.
innovators of today joined this discussion
to share the challenges they face, from Platforms that allow knowledge exchange
navigating strict food industry regulations, and partnerships can help accelerate the
cost of research and development and process of bringing innovative products
s c a l a b i l i t y. to the mass market.

The innovators explored the need for The industry needs to be open to working
consumer education and transparency with start-ups to co-create scalable
across the entire manufacturing process solutions.
to allow unconventional products to go
mainstream. With more familiarity and
understanding of the source of ingredients,
consumers trust in these new products will
g ro w.

(From left to right)
Arturo Elizando, Chief Executive Officer, Clara Foods
Verleen Goh, Chief Food Fighter & Co-Founder, Alchemy Food Tech
Ricky Lin, Founder & Chief Executive Officer, Life3 Biotech
Eugene Wang, Founder, Sophie’s Kitchen
Yuki Hanyu, Founder & Chief Executive Officer, Integriculture Inc.
Nicholas Fereday, Executive Director & Senior Analyst, Food & Consumer Trends, Rabobank

FOOD INDUSTRY ASIA | 13

THE VC PERSPECTIVE ON
THE FUTURE OF FOOD

With this tremendous innovation taking place in the industry in
mind, food businesses operating across the entire sector – from
manufacturers to delivery services – have seen an unprecedented
amount of funds pour in as investors tuck into the sector. A panel
of exper t Venture Capitalists shared how this increase in investment
can help accelerate the process of innovative foods.
They discussed how capital injection provides opportunities for
start-ups to scale and take their ideas to fruition. This is helped by a
growing population of millennials ready to embrace disruption and
new products.
A combination of factors has led to the growing number of start-up
ventures. Panellists explained that this includes more sophisticated
consume tastes demand for healthy and free from” food products,
a drop in major companies’ market shares and lower costs of
t e c h n o l o g y.
They discussed the benefits of external forces and investors to
encourage new ways of doing things and jointly reinvent the food
supply chain.

KEY TAKEAWAYS:

With the rising middle class and greater attention towards
personalised nutrition, there is room for technological innovation
to create sustainable and economical products.
Along with start-ups that are innovating at rapid rates and
addressing the needs of the mass market while overcoming
inefficiencies in the food system, it is an increasingly attractive
sector for Venture Capitalists.

(From top to bottom)
Amir Zaidman, Vice President, Business Development, The Kitchen

Foodtech Hub
Eddy Lee, Founder & Managing Partner, CoffeeVentures

Matthieu Vermersch, Founder, VisVires New Protein
Simone Frey, Managing Director, Atlantic Food Labs GmbH
Niccolo Manzoni, Founding Partner, Five Seasons Ventures

Joseph Zhou, Investment Partner, Bits x Bites

FOOD INDUSTRY ASIA | 14

MEDIA HIGHLIGHTS

The FIA Food for the Future Summit concluded with significant media
coverage. The media in attendance at the summit included Channel
NewsAsia, The Straits Time, CNBC and BBC. There was substantial coverage
on Minister Heng’s Guest of Honour Address on the launch for FoodInnovate.

BROADCAST# DATE PUBLICATION/SITE HEADLINE
1. 26 April 2018
2. 26 April 2018 Asia’s food & beverage industry convenes and commits to
3. 26 April 2018 Channel NewsAsia establishing the region as a hub for food tech & innovation
4. 26 April 2018
5. 26 April 2018 Channel U Asia’s food & beverage industry convenes and commits to
establishing the region as a hub for food tech & innovation

Channel 8 Asia’s food & beverage industry convenes and commits to
establishing the region as a hub for food tech & innovation

Suria Asia’s food & beverage industry convenes and commits to
establishing the region as a hub for food tech & innovation

Vasanatham Asia’s food & beverage industry convenes and commits to
establishing the region as a hub for food tech & innovation

PRINT# DATE PUBLICATION/SITE HEADLINE
1. 27 April 2018
2. The Straits Times Innovation boost for Singapore food companies
3.
4. 27 April 2018 The Straits Times Initiative to drive innovation in food sector
5.
27 April 2018 Lianhe Zaobao
ONLINE#
1. 27 April 2018 Berita Harian Strategi baru pemerintah pacu inovasi sektor makanan
2. 26 April 2018
3. Vasanatham Asia’s food & beverage industry convenes and commits to
4. establishing the region as a hub for food tech & innovation
5.
6. DATE PUBLICATION/SITE HEADLINE
27 April 2018
The Straits Times Innovation boost for Singapore food companies

27 April 2018 The Straits Times Initiative to drive innovation in food sector

26 April 2018 The Straits Times New government strategy will drive food innovation

27 April 2018 Lianhe Zaobao

27 April 2018 The New Paper New initiative to help local food industry innovate
27 April 2018
Berita Harian Strategi baru pemerintah pacu inovasi sektor makanan

FOOD INDUSTRY ASIA | 15

AUDIENCE PROFILE

Audience breakdown by industry

MNCs 34% Government 22%
SMEs 16% NGOs/IGOs/Academia 14%
Start-ups 10% Venture Capitalists 4%

Audience breakdown by seniority

C-Level 22%
Director 23%
Founder/co-founder 5%
EVP/SVP 4%
GM 3%
Head 30%
Executive 4%
Others 9%

FOOD INDUSTRY ASIA | 16

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