Finland joins global alternative protein leaderboard as investments double in one year
Finnish privately held companies developing plant-based meat, dairy, and seafood, fermentation-made and cultivated ingredients, more than doubled their investment in 2024 compared with the previous year.
According to a new analysis by nonprofit and think tank the Good Food Institute Europe (GFI Europe), Finland is rapidly emerging as a pioneer in food innovation and a global leader in alternative protein research, development, and investment.
GFI Europe’s analysis positions Finland alongside Sweden and Denmark as one of the most active countries in Europe in research and innovation (R&I) for alternative proteins. Despite its relatively small population, Finland ranks as the third most productive country in Europe for academic output in this field and third for public R&I investment, particularly in fermentation, which offers innovative ways to turn underutilised crops and side streams into nutritious foods.
With global demand for meat projected to increase by over 50% by 2050, alternative proteins offer scalable, sustainable solutions that require fewer natural resources, emit fewer greenhouse gases, and reduce the need for antibiotics in the food system. Finland’s strategic focus on this sector not only supports climate resilience but also boosts food security at times of growing pressures on food systems.
A thriving research environment and dynamic startup scene
Finland’s success is underpinned by world-class research institutions. The VTT Technical Research Centre of Finland leads in IP generation across plant-based, fermentation, and cross-cutting foodtech innovations. VTT is also co-leading two bioeconomy projects worth nearly €20 million under the US National Science Foundation’s Global Centers programme. The University of Helsinki is also gaining international recognition for its rigorous life cycle assessments of cultivated meat, an emerging solution with interesting ingredient applications.
Emilia Nordlund, Research manager at VTT, Industrial biotechnology and Food, said: “Thanks to Finland’s world-class expertise in industrial biotechnology, biomass processing, and renewable energy – and our strong culture of collaboration – we are well positioned to lead the integration of biosolutions into the food system. Reliable feedstock supply will be critical to scaling bioprocesses, and this shift also opens valuable new opportunities for farmers, who are key partners in building the sustainable value chains of the future.”
According to Net Zero Insights figures, analysed by GFI, Finland’s privately held companies raised over €93 million in 2024, almost tripling the €27 million raised in 2023. Much of this growth has been in fermentation, reflecting both domestic expertise and international investor confidence in Finland’s foodtech ecosystem. For example, precision fermentation specialist Onego Bio raised $40 million to scale its animal-free egg protein, and Enifer secured a €12 million grant from Business Finland to build its first commercial-scale mycoprotein ingredient factory. Meanwhile, Solar Foods received a total of €35 million from the Finnish Climate Fund to scale up its novel protein production process that uses air and electricity.
Ismaël Bawah, Science and Technology Community Coordinator at GFI Europe, said: “Finland is sitting on a gold mine of food innovation potential. It’s fantastic to see growing momentum behind fermentation, but strengthening plant-based research, securing long-term public funding, and enhancing cross-border collaboration, particularly across the Nordics, are vital next steps. Finland should also become a stronger voice in Brussels to champion protein diversification at the EU level, ensuring that science-based regulation supports and safeguards this rapidly growing sector.”
