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Asia Pacific prime market for plant-based foods

Source:Kerry Release Date:2021-06-23 5016
Food, Beverage & Personal CareFood & BeverageFood & Beverage Ingredients
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Protein continues to be in demand and the consumer’s increasing awareness of the quality and different sources of protein opens up the market for plant-based alternatives.

By JUAN AGUIRIANO

Group Head of Sustainability, Kerry


ACCORDING to a 2019 Research and Markets report, the CAGR of the global alternative meat market over the next five years is estimated at 14%, eventually hitting US$9.5 billion by 2023. Likewise, an Innova Market 2019 Insights study indicated that products marketed as sustainable are growing 7.1 times faster than products that are not.

 

Today, 44% of consumers in Asia Pacific, Middle East and Africa who eat meat are open to trying alternatives. While more are leaning towards a healthier diet, one big driver of the alternative meat market growth is the flexitarian, a consumer segment who eats both plant- and animal-based foods.

 

Asia has great potential for plant-based food as meatless diets are already commonplace in the region. According to the 2019 Innova Trends Survey, almost 40% of consumers surveyed in India and 20% in both China and Indonesia indicated that they follow a vegetarian diet, while combined vegetarian consumers in Europe and North America only made up 10%. Asia also had the highest percentage of new launches tagged with vegetarian claims in 2020, further reinforcing the growing demand.


Chicken-Less Chicken Salad-TR-0560 - Copy.jpg

Creating healthy yet flavourful plant-based foods remains a challenge, but many companies have overcome this. (In photo, chicken salad without chicken courtesy of Kerry)


What’s driving the plant-based space?

Global population growth, urbanisation, and increasing consumer affluence are using up natural resources faster than the earth can replenish them. The United Nations Environment Programme (UNEP) shows that 26% of the total global greenhouse gas emissions are caused by food production.

 

Consumers are becoming increasingly aware of health, environmental, and ethical concerns and are turning to plant-based alternatives, and this is accelerating market growth in sustainable food alternatives.

 

According to data from Kerry AI tool Trendspotter, consumer demands fall under four key pillars: taste, health and nutrition, clean label, and sustainability.


Filipino Sisig_JC_180925 - Copy.jpg

Are consumers of the Filipino dish sisig, consisting mainly of pork and chicken liver, ready to give it up for a plant-based version?


Sustainability Understanding how sustainability is perceived in Asia can shed some light on what consumers look for in plant-based offerings. Consumers in the west generally regard sustainability from a clean label and wellness perspective, and its impact on the planet. In Asia Pacific however, consumers view sustainability in terms of how it affects their health.

 

Food security is paramount and while consumers in Asia Pacific enjoy meat, concerns about eating too much meat and its implications on health and the origin of meat products, have led to more consumers looking to foods that are healthier and offer more nutritional benefits. In China for example, African swine fever and the pandemic see pork consumption projected to fall by about 35% this year, according to a Bloomberg report.

 

Health and nutrition A common concern about meat-free diets is that it lacks amino acids found in meat, poultry, fish, eggs, and dairy. But plant-based protein can also provide complete amino acid nutrition − food manufacturers must assess the protein source’s amino acid profile along with its quality and absorption.

 

Among meat substitute and dairy alternative launches, soy continues to lead. According to an Innova Market Insights 2019 report, when it comes to new products with plant-based claims, pea protein is the top ingredient while bean and pumpkin are the fastest growing protein ingredients in new launches.

 

Taste The most important factor for consumers in APAC is taste. About 32% of Asian consumers say taste and texture would be the deal breaker when it comes to buying plant-based alternatives. But taste has posed big challenges for plant-based foods. It is essential for brands to find the right balance between providing health benefits and great taste. How to achieve that? By including chefs, flavourists, and sensory scientists to innovation processes to create products that people want.

 

Clean labels These days, clean labels have evolved beyond claims such as ‘natural’, ‘free from additives’, and ‘vegan or organic’ to also include information on animal welfare, supply chain transparency, sustainable sourcing, and plant-powered nutrition, further promoting the health profile of plant-based foods and beverages.


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