Asia is dwelling to numerous meals cultures, with six main cuisines that make the most of totally different protein varieties together with plant proteins similar to tofu, tempeh, soy, and seitan-based “mock meats” consumed by the continent’s huge vegetarian and Buddhist inhabitants.

Consumption of standard animal meat in Asia has elevated sharply within the final 30 years. Beef consumption rose in most markets, significantly in South Korea and China. Hen consumption additionally rose in most markets (besides Thailand). Pork consumption has additionally elevated, and dominates the market in each quantity produced and consumed. In keeping with the Meals and Agriculture Group (FAO), the worldwide demand for meat will enhance by 73% by 2050 because of the growing inhabitants dimension and prosperity of individuals, significantly in Asia.

Given this trajectory, a report by Meals Frontier, which partnered with Mintel and New Zealand’s meals and fibre sector assume tank Te Puna Whakaaronui emphasizes the necessity for governments and companies to diversify protein choices. The report underscores the emergence of different protein industries, using plant-based meat and mobile agriculture applied sciences. These new choices use crops, cell cultivation or fermentation applied sciences as a substitute for large-scale livestock farming and fishing.

In 2023, Asia’s meat substitutes market, encompassing mock meat and plant-based meat, is valued at USD 4.32 billion. This market is projected to develop yearly at a fee of 33.27% (CAGR 2023-2027), reaching USD 13.63 billion by 2027. Moreover, the Asia Pacific (APAC) area noticed USD 652 million invested in various protein corporations in 2022.

Given these developments, the report means that Australia and New Zealand (ANZ) are well-positioned to faucet into these rising markets.

China has the most important meat substitutes market dimension of USD 2.13 billion, with a 20% compound annual development fee (CAGR) predicted by 2027, with world gamers establishing manufacturing crops, and pushing for funding for start-ups. Thus, China is probably the most beneficial marketplace for Australian and New Zealand exporters.

Singapore has excessive meat substitute income per capita (USD 2.34 in 2022) and is taken into account the centre of innovation in Asia for various proteins with a business-friendly atmosphere. Singaporeans are additionally multicultural, adventurous shoppers who dine out often.

South Korea has excessive projected meat substitute income development at 20% CAGR to 2027 with excessive premiumisation on the energy of an increase in single households in search of the comfort of prepared meals and meal kits, and the provision of plant-based meat in native codecs.

Japanese shoppers are robust meat eaters, with little need to cut back meat consumption so development is predicted to be decrease than different markets at 9% CAGR to 2027. However the meat substitutes market in Japan continues to be giant, with shoppers aged 18–24, high-monthly-income households, and moral, premium, health-conscious buyers which are in search of distinctive merchandise, and usually tend to purchase plant-based meat.

Hong Kong, with its excessive income per capita (USD 3.34) and 17% projected development (CAGR 2022–27), emerges because the fourth most favorable market. Nonetheless, its smaller inhabitants leads the report back to prioritize markets like Thailand, which is ranked sixth total. Thailand’s sizable meat substitutes market (USD 39.11 million), coupled with a thriving meals manufacturing sector and a inhabitants exceeding 70 million, make it a promising market. Thailand’s average meat substitutes market is predicted to develop at a sturdy 14% CAGR till 2027. The Thai authorities’s “Future Meals” roadmap additional helps improvements, together with various proteins and 3D meals printing, with substantial personal sector investments in plant-based and cultivated meat.

Different markets thought-about within the report are Malaysia, Indonesia, Vietnam, the Philippines, and India.

Throughout all of the markets studied, vegetarians and vegans comprise a minority, starting from 2- 6% of the inhabitants. Japan boasts the best proportion of self-identified meat eaters (91%), adopted by South Korea (84%). Thailand has the best degree of flexitarianism (38%), indicating a desire for predominantly plant-based diets with occasional animal meat consumption, together with pescetarianism. China (24%) and Singapore (21%) observe in flexitarian preferences.

Plant-based meat consumption is most important in China and Thailand. In China, 62% of surveyed shoppers reported consuming plant-based meat previously six months. The desire for chilled plant-based merchandise is obvious in China, Japan, and Thailand, whereas frozen merchandise are extra fashionable in Singapore and South Korea.

Shoppers throughout all markets go for plant-based meat on account of its excessive protein content material, ease of preparation, well being advantages, comparable flavors to meat, pure components, natural nature, and environmentally-friendly manufacturing strategies.

Increased-income households are extra inclined to buy and eat plant-based meats throughout all markets, besides Thailand. Most shoppers, barring Thailand, specific willingness to purchase plant-based meat if the costs are the identical as or decrease than standard meat.

China and Japan are the one nations among the many studied markets with present definitions for plant-based meats. Singapore has definitions for merchandise of biomass and precision fermentation, whereas each Singapore and Japan have definitions for cultivated meat. Over the subsequent decade, the report predicts that the majority nations will undertake definitions for these totally different classes.

Singapore has a longtime regulatory framework for cultivated meat and novel meals, making it the primary jurisdiction to approve a cultivated meat product for industrial sale. China, South Korea, and Japan are actively discussing their regulatory approaches for these merchandise. Whereas Thailand isn’t presently planning regulatory adjustments for cultivated meat and proteins from precision and biomass fermentation, the sector’s investments are more likely to drive regulatory progress. In Japan, present laws might accommodate sure novel proteins if a historical past of consumption could be demonstrated.

In China, soy is the preferred plant-based protein ingredient used, adopted by pea, rice, and wheat gluten. Different plant components, mushrooms, different fungi, algae and konjac, are additionally used. China has not allowed genetically modified (GM) crops to be planted domestically however that is altering.

Soy and wheat are generally used protein sources in plant-based meat merchandise in Singapore. South Korea’s plant-based meat market was valued at USD 77.19 million in 2022, with soy, pea, bean, and wheat protein being probably the most prevalent protein components. Japan, reliant on imports for plant-based meat components, imports 83% of its wheat and 78% of its soybeans used yearly.
In Thailand, the place 51% of shoppers are meat eaters, there’s a rising development of incorporating plant-based meals into diets. Soy stays the popular plant protein supply on account of its availability, cost-effectiveness, and flexibility.

As Asia’s various proteins market prospers, ANZ exporters stand to achieve by diversifying their protein exports to the area. It’s crucial to have a well-founded understanding of distinctive shoppers’ wants and cultural nuances in every market to have the ability to maximise the potential export alternatives for ANZ companies in Asia. They’ll profit from commerce workplaces, free commerce agreements, and skilled import brokers to navigate native laws and enterprise necessities successfully.

You may obtain the Various Proteins and Asia report totally free on Meals Frontier’s web site. For extra insights into Mintel’s analysis on various proteins, discover our choices on the Mintel Retailer. To find how Mintel Consulting can help your corporation development, please don’t hesitate to get in contact with us.