date:Jun 16, 2023
and five times as much as the amount raised in 2019. The volume of novel food applications could increase significantly as a result.
However, businesses making novel food applications tend to be smaller firms that may not have dedicated regulatory teams or prior food regulation experience, the report adds. Smaller businesses may require more clarity and guidance from regulators than more established operators.
Meanwhile, there is a greater focus on more environmentally sustainable food option