THE INTELLIGENCE
Food products for Singapore’s aging population
Singapore is one of the fastest aging populations in the world with one in four Singaporeans expected to be 65 and above by 2030. Finance minister Lawrence Wong sees this as a window of opportunity. It is up to Singaporeans to grow the silver economy to tailor goods and services for the elderly. One such company is SilverConnect, a medical nutrition start-up creating specialized food for those with dysphagia, or swallowing difficulties. It modifies local dishes into pureed versions, shaping them into attractive meals. It branched out to GentleFoods, for local snacks and desserts. This silver lining is set to be a US$72.4bn market in Singapore by 2025,
according to the Asia Pacific Silver Economy Business Opportunities Report. Food has been identified as an immediate area of opportunity.
Australia aims to halve food waste
Some of Australia’s biggest food retailer and manufacturers have come together to halve Australia’s Food waste by signing a new agreement with the Australian Government to meet or beat this target by 2030. The Australian Food Pact is a voluntary agreement between retailers, manufacturers, growers and suppliers with initial signatories from Woolworths Group, Coles, Mars Australia, Simplot Australia, McCain Foods, Mondelez Australia, and Goodman Fielder. According to Sussan Ley, minister for the environment: “Each year, we waste around 7.6 million tons of food, which is why the government has set an aggressive target of halving food waste by 2030.” That’s more than 300kg of food wasted by each person per year.
For more go to
fcsi.org Food waste is costing the economy roughly AU$36bn a year. With the goal to bring together
organizations from ‘farm to fork’, it is a collaboration including primary production, processing, manufacturing, wholesale, retail, hospitality, institutions, and household sectors. It aims to make the Australian food system more sustainable, resilient, and circular. It entails tackling waste, improving profitability, responding to supply risks, providing innovative solutions, being more competitive and providing quality products with lower environmental impacts. Stop Food Waste Australia will drive the policies and collaboration between businesses that sign the Australian Food Pact. The organization has received AUS$4M in government funding.
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ALAMY
ASIA PAC
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