Ontario Genomics has released an updated Food Innovation in Canada Report, providing economic projections for the country’s food biomanufacturing sector. The report estimates that by 2050, the industry could be valued at $18.8 billion and generate approximately 125,000 jobs.
Food biomanufacturing, which includes cellular agriculture and precision fermentation, involves producing food, ingredients, and textiles using biotechnology rather than traditional agricultural methods. The updated analysis, conducted by Dr. Michael von Massow from the University of Guelph, assesses the industry’s potential and the factors required for growth.
“This report shows government and food producers the massive economic potential for food biomanufacturing in our country”
Ontario is projected to play a central role in this sector, with a potential $13 billion industry that could create over 91,000 jobs. The report identifies the need for a national strategy, investment in large-scale production facilities, research and development support, and a streamlined regulatory framework to ensure Canada remains competitive.
Elaine Corbett, the report’s author and director of strategic partnerships at Ontario Genomics, stated, “This report shows government and food producers the massive economic potential for food biomanufacturing in our country and gives the data needed for a national strategy and investment.”
Growth and challenges in biomanufacturing
Since the organization’s 2021 report, the number of Canadian companies engaged in food biomanufacturing has increased, along with investment and research efforts. However, challenges remain in scaling production for commercial viability.
Recent government funding initiatives reflect growing support for this industry. Earlier this month, $1 million was allocated to cellular agriculture research in the Prairie provinces, while over $1 million was invested in a fermentation plant in Nova Scotia at the start of the year.
Corbett continued, “This kind of food innovation is already happening around the world and considering the shifting economic climate, Canada needs to do even more to develop this manufacturing for Canadians but also to export to other countries.”
