DuPont says plant-based demand to surge 200% in Asia

12 Jan 2021

A new study from DuPont and IPSOS revealed that the consumption of plant-based meat substitutes in key Asia Pacific markets is poised to soar 200% over the next five years as consumer choice continues to be driven by health, taste and sustainability.

China and Thailand are predicted to see the largest jump in growth with triple-digit increases, while demand for plant-based meat across the entire Asia Pacific region is forecast to grow 25% by 2025 to reach $1.7 billion. Vietnam was listed as a country that needs additional consumer education in order to deliver the substantial market growth gains predicted in other areas in the region.

DuPont says plant-based demand to surge 200% in Asia
Image via Like Meat

This predicted growth is in addition to the 7.4% increase in plant-based meat that the region saw over the course of 2020.

Asia is home to 60% of the world’s population or 4.3 billion people. Already the DuPont study found that 36% of those living in the Asia Pacific region follow diets that are either low meat or no meat and, therefore, the region is particularly well positioned to become a thriving hub for plant-based meat alternatives.

Not only is meat-free eating widely accepted in this area of the world, but the study found that 75% of these consumers are willing to pay similar prices for meat-free alternatives and animal-based protein. As 83% of those in the study consider protein — both plant and animal-derived — to be the most important ingredient in diets, the Asia Pacific region represents a potentially fruitful investment for companies with plant-based products that are looking to expand.

Already, large corporations are moving into the area to test out the popularity of plant-based offerings. KFC trialed its plant-based chicken nuggets in select stores across China and Starbucks partnered with Beyond Meat to offer plant-based meat products across China. Yum China Holdings, which owns KFC, also trialed Beyond Burger products at Pizza Hut and Taco Bell locations in mainland China.

Tyson Foods and Bühler are also working in the region to gain market share in Asia, and Singapore recently became the first country to approve the sale and distribution of cell-based meat by Eat Just.

Related news

JBS expands its vegan portfolio, buys Vivera for $410M

JBS expands its vegan portfolio, buys Vivera for $410M

28 Apr 2021

JBS, the world’s largest protein company, entered into an agreement to purchase Vivera, Europe’s third-largest plant-based food producer for approximately $410 million (€341 million). The transaction is subject to regulatory approval, but the deal incl...

Read more 
Plant-based bacon alternative raises $40M

Plant-based bacon alternative raises $40M

21 Apr 2021

Atlast Food Co, which owns the mycelium-focused, plant-based protein brand MyEats, received $40M in a Series A round led by Viking Global Investors with participation from 40 North, AiiM Partners, Senator Investment Group, Stray Dog Capital and Footpri...

Read more 
Papaya waste upcycled for nutritious snack bars in Ethiopia

Papaya waste upcycled for nutritious snack bars in Ethiopia

20 Apr 2021

Papayas have long been praised for their enzymatic content, but they are now also finding a role as a key ingredient in snack bars made locally in Ethiopia thanks to their nutritious profile and widespread availability.

Read more 
Protera appoints Novozymes’ Thomas Videbaek to board of directors

Protera appoints Novozymes’ Thomas Videbaek to board of directors

16 Apr 2021

AI-driven protein startup Protera appointed Novozymes senior executive Thomas Videbaek as Chair of the Board of Directors and non-executive board member.

Read more 
Candy colors for 2021 defined by the pandemic

Candy colors for 2021 defined by the pandemic

15 Apr 2021

Candy innovation will be a mixed bag this year as consumers continue to react to the effects of the pandemic. After a year of continual concern about one’s health, color has become the new playing field where consumers are looking for a healthier alter...

Read more 
Campaigners warn of delay in Nigeria’s trans fat ban

Campaigners warn of delay in Nigeria’s trans fat ban

14 Apr 2021

Nigeria has committed to introducing a mandatory 2% trans fat limit in oils, fats and processed foods – but campaigners are sounding warning bells over delays in implementing the regulation.

Read more 
IFF: enzymes can boost bakery sector with label-friendly solution

IFF: enzymes can boost bakery sector with label-friendly solution

13 Apr 2021

Enzymes are the key to anchor clean label formulation strategies in the bakery sector, International Foods & Fragrances (IFF) said in a recent webinar. With demand from consumers for natural ingredients reaching new heights, the flavor company posited ...

Read more 
Flavor company Givaudan crowdsources flavors with its Aroma Kiosk

Flavor company Givaudan crowdsources flavors with its Aroma Kiosk

12 Apr 2021

Swiss flavor giant Givaudan has rolled out its Aroma Kiosk, a digital sensory tool that crowdsources flavor preferences. These kiosks are located globally in grocery and retail stores as well as universities where shoppers can interact with the technol...

Read more 
DSM acquires Amyris’ bio-based flavors and fragrances business

DSM acquires Amyris’ bio-based flavors and fragrances business

9 Apr 2021

Netherlands-based Royal DSM acquired the flavor and fragrance bio-based intermediates business of California-based Amyris in order to extend the Dutch corporation’s presence in bio-based flavor and fragrance ingredients. The transaction was completed o...

Read more 
‘Bread as good as veg’: Modern Baker makes bread better with science-based Superloaf

‘Bread as good as veg’: Modern Baker makes bread better with science-based Superloaf

8 Apr 2021

Packing in 12 high-fibre, plant-based ingredients and no additives, Modern Baker’s Superloaf claims to be as healthy as eating vegetables, and has won the praise of ‘gut guru’, Dr Tim Spector.

Read more