Canada Invests to Boost Innovation in Canadian Food Ingredient Manufacturing
November 15, 2024
Ottawa, ON – The Government of Canada is investing $100 million over five years to support innovation in the Canadian food ingredient manufacturing sector. This investment will help Canadian companies develop new and innovative food ingredients, and scale up production to meet the growing global demand.
The food ingredient manufacturing sector is a key part of the Canadian economy, generating $28 billion in revenue annually and employing over 60,000 people. However, the sector is facing challenges from global competition and rising production costs.
This investment will help Canadian companies overcome these challenges and position themselves as leaders in the global food ingredient market. The funding will be used to support research and development, scale-up production, and commercialization of new food ingredients.
“This investment will help Canadian food ingredient manufacturers innovate and grow, creating jobs and boosting the economy,” said the Honourable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food. “It will also help us to reduce our reliance on imported ingredients and increase our exports of value-added food products.”
The investment will be delivered through Agriculture and Agri-Food Canada’s Food Processing Innovation Program. The program provides funding to Canadian food processors to help them adopt new technologies, improve their productivity, and develop new products.
“This investment is a welcome boost for the Canadian food ingredient manufacturing sector,” said Michael Medline, President and CEO of Maple Leaf Foods. “It will help us to develop new and innovative products, and scale up production to meet the growing global demand.”
The investment is part of the government’s Innovation and Skills Plan, which is designed to help Canadian businesses innovate and grow. The plan includes a number of initiatives to support research and development, commercialization, and skills development.
“This investment is a clear signal that the government is committed to supporting innovation in the Canadian food ingredient manufacturing sector,” said Pierre Claprood, President and CEO of Food Processors of Canada. “It will help our members to develop new products, create jobs, and grow their businesses.”
Canada invests to boost innovation in Canadian food ingredient manufacturing
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