What we see?

• APAC, had a rise in plant-based foods
• In the past year, the top category of product launch with alternative protein are processed fish, meat and egg (54.35%).

Why It Matters?

• Consumer’s health awareness, ethics, environmentalism, and food safety
• Concerned by global epidemics and food safety, consumers are more selective

 25% expected increased in the market size for plant-based meat to US$1.7 billion from 2020-2025.  

Global Meat Substitute Market

• Europe dominate 3.8%of global meat substitute market in 2017
• Asia-Pacific projected to register highest CAGR at 9.3%
• Meat substitutes include tofu, tempeh, vegetable protein, microalgae and other organic sources
• APAC is becoming a rising market for plant based meat substitutes targeting “flexitarian” dieters, with a significant increase in demand for plant based food in key markets in APAC (India, China, Japan, Thailand).

Consumers Continue to Move Towards Flexitarian or Plant Based Diets

• 23% of global consumers are trying to limit their intake of meat
• 16% of global consumers are trying to follow a plant-based diet
• 15% of global consumers are trying to limit their intake of dairy
• 6% of global consumers follow a plant-based/flexitarian diet

Consumers Look for Diets To Build Immunity Health

Post COVID-19, Consumers tend to focus more on preventive health measures, following high protein, plant-based diets to build and support immunity health.

Relevant Ingredients for Plant-Based Meat

Relevant ingredients to achieve customer satisfaction for:

• Texture
• Taste
• Flavor
• Appearance
• Nutrition and Health Benefit