New research shows the vegan meat demand in China and Thailand will increase by 200 percent over the next five years.
Global market research firm IPSOS conducted the study; DuPont Nutrition & Biosciences commissioned it. The company works to promote sustainable solutions in the food, health, biotech, and pharmaceutical industries. DuPont also produces cultures for vegan food products and plant-based proteins.
The research found consumers “driven by values around health, taste, and sustainability” are fueling the surge in vegan meat demand.
The study also estimates the plant-based market will increase to $1.7 billion—a 25 percent growth—over the next five years.
“We are about to see a dramatic increase in demand for plant-based alternatives to meat which food businesses need to start preparing right now,” Michelle Lee, regional marketing leader, APAC, DuPont Nutrition & Biosciences, said in a statement.
Vegan Meat Demand Increasing in Asia
Asia’s plant-based sector has gotten a boost in recent years. And it appears that even the region’s government is onboard.
In 2016, the Chinese government updated its dietary guidelines to recommend a reduction in meat consumption in order to combat diabetes and cardiovascular diseases.
Hong Kong, in particular, is one area where vegan food has taken off. A 2018 survey by Green Monday, an organization that promotes plant-based living, found that nearly a quarter of the region was flexitarian and reducing its meat intake. The group’s CEO and founder, David Yeung, told LIVEKINDLY the coronavirus pandemic has further increased this dietary shift.
“We are seeing an acceleration of demand in Asia towards plant-based food as the general public has a growing concern regarding the environmental impact and sustainability of the livestock industry,” he explained. “And they are now seeking a safer and healthier alternatives in the wake of the COVID outbreak.”
Plant-based menu items are becoming increasingly popular in the area. In December 2020, Green Monday opened its first overseas plant-based concept store and cafe, called Green Common, in Shanghai.
Yeung’s plant-based food company, OmniFoods, makes plant-based ground pork, luncheon meat, and ready meals. It launched in mainland China last year.
Impossible Foods and Beyond Meat have launched products in the region. Even KFC is making waves in the area. It launhced “New Era” vegan chicken at select restaurants in Hong Kong.
In 2020, international food giant Nestlé revealed plans to build its first vegan food facility in China. The company will use the facility, located in the Tianjin Economic-Technological Development Area, to produce its own plant-based range.