The Japanese hot drinks market is projected to grow at a compound annual growth rate (CAGR) of 3.8 percent from JPY 2,144.0bn (US$20.1bn) in 2020 to JPY 2,585.9bn (US$27.2bn) – with the hot coffee sector the main driver behind this growth.

That’s according to analytics company GlobalData, whose report ‘Japan Hot drinks – Market Assessment and Forecasts to 2025’, reveals that the hot coffee category is forecast to register the fastest value CAGR of 4.2 percent during 2020–2025. Hot coffee is followed by hot tea, which is expected to record a CAGR of 3.1 percent during the same period.

“Japan is well known for its tea culture. However, with modernisation, the hot coffee category in the country is also growing. Several foreign players have introduced novel hot coffee products in the Japanese market, thus drawing attention of variety-seekers. Furthermore, the cafés have a plethora of hot coffee varieties on their menu – all leading to the growth of the category,” said Isha Katurde, Consumer Analyst at GlobalData.

When commercial operations begin, the cultivated protein will reach consumers in the form of prepared foods, such as hamburgers, steaks, sausage meats, and meatballs, among others, with the same quality, safety, taste and texture as traditional protein. The technology has the potential not only for the production of beef protein, but also chicken, pork and fish.

“This acquisition strengthens our strategy of innovation, from how we develop new products to how we commercialize them, to address the growing global demand for food. Combining technological know-how with our production capacity, we will be in a position to accelerate the development of the cultivated protein market,” said Gilberto Tomazoni, Global CEO of JBS.

The acquisition of BioTech Foods is still subject to confirmation by the foreign investment authority of Spain, among other conditions common to this type of transaction.

The initiative in Europe is being supplemented by the cultivated protein research centre in Brazil. Due to be inaugurated in 2022, the second phase of the centre will include a plant occupying an area of 10 thousand square meters. Headed up by Luismar Marques Porto and Fernanda Vieira Berti, both Ph.D. in chemical engineering, the initiative will have around 25 researchers and will work on the development of leading-edge technologies for the food industry.

Through the investment in the R&D centre, JBS says it intends to develop new techniques that accelerate the economies of scale and reduce the costs of producing cultivated protein, bringing forward its commercialization on the market.

“We are expanding our global platform to address the new trends in consumption and the growth of the global population. The acquisition of BioTech Foods and the new research centre put JBS in a unique position to push ahead in the cultivated protein sector,” added Tomazoni.