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CJ Foods and T&R Biofab aim to synergize their unique expertise and technologies to bring to the market innovative food products
SEOUL, South Korea, Oct. 18, 2023 /PRNewswire/ -- CJ Foods, a business unit of South Korea-based CJ CheilJedang, announced that it entered into a joint development agreement (JDA) with T&R Biofab to develop alternative meat using 3D bioprinting technology. T&R Biofab is a med-tech company that develops artificial tissues using its world-class technology in the field of regenerative medicine based on 3D bioprinting.
Through this collaboration, the two innovative Korean companies will leverage synergies between the food industry and the 3D printing medical field to elevate new plant-based alternative protein products up to consumers' expectations on taste, texture, appearance, and nutrition. Plant-based alternative protein food products beyond the limitations of today's offerings are seen as new growth engines for both companies.
According to Bloomberg Intelligence, the plant-based food market is estimated to be worth USD 162 billion by 2030, showing a rapid growth from USD 24.9 billion in 2020. Plant-based food has emerged as a major trend, extending beyond concerns about animal welfare to be recognized for its positive impact on health, nutrition, and environmental. Nevertheless, one challenge has persisted – achieving the authentic texture and mouthfeel of animal-based food.
"At CJ Foods, we recognize that breakthrough innovation happens at the interface of distinctly different proficiencies and industries," stated Dr. Florian Viton, Senior Vice President, Strategic Innovation at CJ Foods. "We see our partnership with T&R Biofab as a unique opportunity to create alternative protein offerings that truly surpass the limitations hindering today's plant-based products. This exciting collaboration is part of CJ Food's broader strategy to accelerate our pace of innovation and seed new growth engines in support of CJ Food's global ambitions."
"As global leaders and public figures increasingly draw attention to the alternative protein food sector, particularly the potential within 3D printed food, it is imperative to underscore that this domain seldom unites genuine food industry experts with accomplished printing specialists," commented Dr. Paulo Marinho, Head of Scientific Strategy of T&R Biofab. "This partnership stands as a unique instance where these two domains converge and collaborate, each pioneering its own sphere to achieve a shared and essential solution."
CJ Foods remains committed to developing and investing technologies aimed at securing sustainable food for the future. Notably, it launched a brand specializing in plant-based foods and offers plant-based Mandu products in both overseas and Korean markets. In addition, last year, CJ Foods introduced a plant-based beverage brand, Altive, through its in-house food venture program known as INNO 100.
About CJ Foods
CJ Foods, a business unit of CJ CheilJedang, is a global food company delivering a variety of products ranging from foodstuffs and frozen/chilled foods to appetizers. As the largest food company in Korea with global sales of 11.1 trillion KRW in 2022, CJ Foods is now leading the globalization of Korean food with its fast-growing bibigo brand. Under bibigo, CJ currently focuses on seven delicious Global Strategic Products of K-food, including Mandu (Korean-style dumpling), chicken, processed rice, Korean sauce, Kimchi, Gim (seaweed), and roll to global consumers. The company operates over 60 sites in multiple regions worldwide including South Korea, the U.S. (Schwan's Company), China, Japan, Southeast Asia, Europe, and Oceania.
For more information, visit https://www.cj.co.kr/en/about/business/food
About CJ CheilJedang
CJ CheilJedang is a South Korea-based food & bio company operating globally. Founded in 1953 as the first Korean sugar manufacturer, it is now a leading global food player with brands such as bibigo. It also provides advanced bio products including feed and food additives made by its cutting-edge, fermentation-based bioengineering technologies. The company recorded sales of 30 trillion KRW in 2022. CJ CheilJedang is part of CJ Group, an international company in the fields of Food & Food Services, Bio & Pharma, Entertainment & Media, and Retail & Logistics.
For more information, visit https://www.cj.co.kr/en
About T&R Biofab
T&R Biofab is a science-driven and fast-growing company which has developed its own 3D Bio-printing System and its own Proprietary Biomaterials for the creation of Implantable Medical Devices, Bio-surgical Solutions, 3D Organoid Models, and Artificial Organs. At its origin, T&R Biofab started its business with the development and commercialization of 3D Bio-printing equipment. Quickly, T&R recognized that there were unmet needs on the medical field where Bioprinting could offer a unique solution, however, to translate that science to products that would benefit society, the use of other cutting-edge technologies such as biomimetic biomaterials and stem cells were needed, and the company quickly expanded its R&D capabilities. After securing key IP, filing over 150 patents, and writing more than 200 SCI articles; T&R owns the core technology to address the most challenging problems in healthcare. Adding to this unique set of expertise, the longstanding collaborations with the biggest MedTech in the world, prepared T&R Biofab to what is necessary to achieve a globally successful product; therefore, delivering solutions that are not only needed but also reliable and impact-lasting.
For more information, visit http://tnrbiofab.com/
