KEY FINDINGS
The Asia-Pacific plant-based food & beverage market growth is projected to increase with an 11.06% CAGR during the assessment period, 2023-2032. The market growth is driven by the popularity of vegetarian cuisine, demand for meat alternatives, growing eco-consciousness, and investments and health initiatives in the region.
MARKET INSIGHTS
The Asia-Pacific plant-based food & beverage market growth analysis includes an assessment of Thailand, Vietnam, China, Malaysia, Australia & New Zealand, South Korea, Japan, India, and Rest of Asia-Pacific. Increasing consumer awareness and plant-based food consumption in Malaysia has made plant-based foods more accessible. Traditional ingredients like dahl, tofu, chickpeas, and tempeh are popular in Asia and Malaysia. With growing demand and changing preferences, restaurants and food chains are emerging to cater to the market.
Competitors like Berjaya Food Bhd have also entered the market, unveiling vegan restaurants like Sala. Consequently, distributors, producers, and retailers have more opportunities in the plant-based sector. Malaysian FMCG businesses produce innovative plant-based foods and beverages, and traditional meat-based businesses partner with vegetarian providers to capitalize on the trend.
In Thailand, consumers are becoming more interested in plant-based meals due to environmental, animal welfare, and health concerns. In 2019, innovative food start-ups invested an estimated $3 billion in Thailand. Established and emerging businesses aim to create plant-based products with similar flavors and properties to natural meat.
COMPETITIVE INSIGHTS
Some of the leading companies in the market include General Mills, Nestle SA, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations.
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Asia-Pacific Plant-Based Food & Beverage Market Forecast 2023-2032
Table Of Contents
1. Research Scope & Methodology
1.1. Study Objectives
1.2. Methodology
1.3. Assumptions & Limitations
2. Executive Summary
2.1. Market Size & Estimates
2.2. Market Overview
2.3. Scope Of Study
2.4. Crisis Scenario Analysis
2.4.1. Impact Of Covid-19 On Plant-Based Food & Beverage Market
2.5. Major Market Findings
2.5.1. Emergence Of Hemp Milk As A Substitute For Dairy-Based Milk
3. Market Dynamics
3.1. Key Drivers
3.1.1. Growing Adoption Of Vegan And Vegetarian Diets
3.1.2. Favorable Initiatives By Governments And Associations
3.1.3. Trending Health And Sustainability Lifestyle Choices
3.1.4. Surging Food Safety And Animal Welfare Concerns
3.2. Key Restraints
3.2.1. Challenges Associated With Sensory Properties & Allergic Reactions Of Certain Plant Proteins
3.2.2. Exorbitant Costs Of Plant-Based Products
4. Key Analytics
4.1. Key Market Trends
4.2. Porter's Five Forces Analysis
4.2.1. Buyers Power
4.2.2. Suppliers Power
4.2.3. Substitution
4.2.4. New Entrants
4.2.5. Industry Rivalry
4.3. Growth Prospect Mapping
4.3.1. Growth Prospect Mapping For South Korea
4.4. Market Maturity Analysis
4.5. Market Concentration Analysis
4.6. Value Chain Analysis
4.6.1. Raw Material Suppliers
4.6.2. Food Manufacturers
4.6.3. Distributors
4.6.4. End-Users
5. Market By Product Type
5.1. Plant-Based Dairy Derivatives
5.1.1. Plant-Based Ice Cream & Frozen Desserts
5.1.2. Plant-Based Cheese
5.1.3. Plant-Based Yogurt
5.1.4. Plant-Based Creamer
5.1.5. Plant-Based Dairy Spreads & Dips
5.2. Plant-Based Meat Substitutes
5.2.1. Textured Vegetable Protein
5.2.2. Tofu
5.2.3. Tempeh
5.2.4. Mycoprotein, Seitan, And Other Meat Substitutes
5.3. Plant-Based Nutrition/Snack Bars
5.4. Plant-Based Bakery Products
5.5. Plant-Based Beverages
5.5.1. Plant-Based Milk
5.5.1.1. Soy Milk
5.5.1.2. Almond Milk
5.5.1.3. Other Plant-Based Milk
5.5.2. Packaged Smoothies
5.5.3. Coffee
5.5.4. Tea
5.5.5. Other Plant-Based Beverages
5.6. Other Product Types
6. Market By Source
6.1. Soy
6.2. Wheat
6.3. Pea
6.4. Coconut
6.5. Almond
6.6. Cashew
6.7. Other Sources
7. Market By Storage
7.1. Frozen
7.2. Refrigerated
7.3. Shelf-Stable
8. Market By Distribution Channel
8.1. Store-Based Distribution Channel
8.1.1. Supermarkets/Hypermarkets
8.1.2. Convenience Stores
8.1.3. Specialty Stores
8.1.4. Other Store-Based Distribution Channels
8.2. Non-Store-Based Distribution Channel
9. Geographical Analysis
9.1. Asia-Pacific
9.1.1. Market Size & Estimates
9.1.2. Asia-Pacific Plant-Based Food & Beverage Market Drivers
9.1.3. Asia-Pacific Plant-Based Food & Beverage Market Challenges
9.1.4. Asia-Pacific Plant-Based Food & Beverage Market Regulatory Framework
9.1.5. Key Players In Asia-Pacific Plant-Based Food & Beverage Market
9.1.6. Country Analysis
9.1.6.1. China
9.1.6.1.1. China Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.2. Japan
9.1.6.2.1. Japan Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.3. India
9.1.6.3.1. India Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.4. South Korea
9.1.6.4.1. South Korea Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.5. Malaysia
9.1.6.5.1. Malaysia Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.6. Thailand
9.1.6.6.1. Thailand Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.7. Vietnam
9.1.6.7.1. Vietnam Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.8. Australia & New Zealand
9.1.6.8.1. Australia & New Zealand Plant-Based Food & Beverage Market Size & Opportunities
9.1.6.9. Rest Of Asia-Pacific
9.1.6.9.1. Rest Of Asia-Pacific Plant-Based Food & Beverage Market Size & Opportunities
10. Competitive Landscape
10.1. Key Strategic Developments
10.1.1. Acquisitions
10.1.2. Product Launches
10.1.3. Partnerships & Agreements
10.1.4. Business Expansions & Divestitures
10.2. Company Profiles
10.2.1. Adm
10.2.1.1. Company Overview
10.2.1.2. Product List
10.2.1.3. Strengths & Challenges
10.2.2. Amy's Kitchen Inc
10.2.2.1. Company Overview
10.2.2.2. Product List
10.2.3. Beyond Meat Inc
10.2.3.1. Company Overview
10.2.3.2. Product List
10.2.4. Blue Diamond Growers
10.2.4.1. Company Overview
10.2.4.2. Product List
10.2.4.3. Strengths & Challenges
10.2.5. Campbell Soup Company
10.2.5.1. Company Overview
10.2.5.2. Product List
10.2.6. Conagra Brands
10.2.6.1. Company Overview
10.2.6.2. Product List
10.2.6.3. Strengths & Challenges
10.2.7. Daiya Foods Inc
10.2.7.1. Company Overview
10.2.7.2. Product List
10.2.8. Danone Sa
10.2.8.1. Company Overview
10.2.8.2. Product List
10.2.8.3. Strengths & Challenges
10.2.9. General Mills Inc
10.2.9.1. Company Overview
10.2.9.2. Product List
10.2.9.3. Strengths & Challenges
10.2.10. Impossible Foods Inc
10.2.10.1. Company Overview
10.2.10.2. Product List
10.2.10.3. Strengths & Challenges
10.2.11. Kevita Inc
10.2.11.1. Company Overview
10.2.11.2. Product List
10.2.12. Living Harvest Tempt
10.2.12.1. Company Overview
10.2.12.2. Product List
10.2.12.3. Strengths & Challenges
10.2.13. Meatless Farm
10.2.13.1. Company Overview
10.2.13.2. Product List
10.2.14. Nestle Sa
10.2.14.1. Company Overview
10.2.14.2. Product List
10.2.14.3. Strengths & Challenges
10.2.15. The Hain Celestial Group Inc
10.2.15.1. Company Overview
10.2.15.2. Product List
10.2.15.3. Strengths & Challenges
List Of Tables
Table 1: Market Snapshot - Plant-Based Food & Beverage
Table 2: Asia-Pacific Plant-Based Food & Beverage Market, By Product Type, Historical Years, 2018-2022 (In $ Million)
Table 3: Asia-Pacific Plant-Based Food & Beverage Market, By Product Type, Forecast Years, 2023-2032 (In $ Million)
Table 4: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Dairy Derivatives, Historical Years, 2018-2022 (In $ Million)
Table 5: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Dairy Derivatives, Forecast Years, 2023-2032 (In $ Million)
Table 6: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Meat Substitutes, Historical Years, 2018-2022 (In $ Million)
Table 7: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Meat Substitutes, Forecast Years, 2023-2032 (In $ Million)
Table 8: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Beverages, Historical Years, 2018-2022 (In $ Million)
Table 9: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Beverages, Forecast Years, 2023-2032 (In $ Million)
Table 10: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Milk, Historical Years, 2018-2022 (In $ Million)
Table 11: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Milk, Forecast Years, 2023-2032 (In $ Million)
Table 12: Asia-Pacific Plant-Based Food & Beverage Market, By Source, Historical Years, 2018-2022 (In $ Million)
Table 13: Asia-Pacific Plant-Based Food & Beverage Market, By Source, Forecast Years, 2023-2032 (In $ Million)
Table 14: Asia-Pacific Plant-Based Food & Beverage Market, By Storage, Historical Years, 2018-2022 (In $ Million)
Table 15: Asia-Pacific Plant-Based Food & Beverage Market, By Storage, Forecast Years, 2023-2032 (In $ Million)
Table 16: Asia-Pacific Plant-Based Food & Beverage Market, By Distribution Channel, Historical Years, 2018-2022 (In $ Million)
Table 17: Asia-Pacific Plant-Based Food & Beverage Market, By Distribution Channel, Forecast Years, 2023-2032 (In $ Million)
Table 18: Asia-Pacific Plant-Based Food & Beverage Market, By Store-Based Distribution Channel, Historical Years, 2018-2022 (In $ Million)
Table 19: Asia-Pacific Plant-Based Food & Beverage Market, By Store-Based Distribution Channel, Forecast Years, 2023-2032 (In $ Million)
Table 20: Asia-Pacific Plant-Based Food & Beverage Market, By Country, Historical Years, 2018-2022 (In $ Million)
Table 21: Asia-Pacific Plant-Based Food & Beverage Market, By Country, Forecast Years, 2023-2032 (In $ Million)
Table 22: Asia-Pacific Plant-Based Food & Beverage Market Regulatory Framework
Table 23: Key Players Operating In Asia-Pacific Plant-Based Food & Beverage Market
Table 24: List Of Acquisitions
Table 25: List Of Product Launches
Table 26: List Of Partnerships & Agreements
Table 27: List Of Business Expansions & Divestitures
List Of Figures
Figure 1: Key Market Trends
Figure 2: Porter's Five Forces Analysis
Figure 3: Growth Prospect Mapping For South Korea
Figure 4: Market Maturity Analysis
Figure 5: Market Concentration Analysis
Figure 6: Value Chain Analysis
Figure 7: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Product Type, In 2022
Figure 8: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Dairy Derivatives, 2023-2032 (In $ Million)
Figure 9: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Plant-Based Dairy Derivatives, In 2022
Figure 10: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Ice Cream & Frozen Desserts, 2023-2032 (In $ Million)
Figure 11: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Cheese, 2023-2032 (In $ Million)
Figure 12: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Yogurt, 2023-2032 (In $ Million)
Figure 13: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Creamer, 2023-2032 (In $ Million)
Figure 14: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Dairy Spreads & Dips, 2023-2032 (In $ Million)
Figure 15: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Meat Substitutes, 2023-2032 (In $ Million)
Figure 16: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Plant-Based Meat Substitutes, In 2022
Figure 17: Asia-Pacific Plant-Based Food & Beverage Market, By Textured Vegetable Protein, 2023-2032 (In $ Million)
Figure 18: Asia-Pacific Plant-Based Food & Beverage Market, By Tofu, 2023-2032 (In $ Million)
Figure 19: Asia-Pacific Plant-Based Food & Beverage Market, By Tempeh, 2023-2032 (In $ Million)
Figure 20: Asia-Pacific Plant-Based Food & Beverage Market, By Mycoprotein, Seitan, And Other Meat Substitutes, 2023-2032 (In $ Million)
Figure 21: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Nutrition/Snack Bars, 2023-2032 (In $ Million)
Figure 22: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Bakery Products, 2023-2032 (In $ Million)
Figure 23: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Beverages, 2023-2032 (In $ Million)
Figure 24: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Plant-Based Beverages, In 2022
Figure 25: Asia-Pacific Plant-Based Food & Beverage Market, By Plant-Based Milk, 2023-2032 (In $ Million)
Figure 26: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Plant-Based Milk, In 2022
Figure 27: Asia-Pacific Plant-Based Food & Beverage Market, By Soy Milk, 2023-2032 (In $ Million)
Figure 28: Asia-Pacific Plant-Based Food & Beverage Market, By Almond Milk, 2023-2032 (In $ Million)
Figure 29: Asia-Pacific Plant-Based Food & Beverage Market, By Other Plant-Based Milk, 2023-2032 (In $ Million)
Figure 30: Asia-Pacific Plant-Based Food & Beverage Market, By Packaged Smoothies, 2023-2032 (In $ Million)
Figure 31: Asia-Pacific Plant-Based Food & Beverage Market, By Coffee, 2023-2032 (In $ Million)
Figure 32: Asia-Pacific Plant-Based Food & Beverage Market, By Tea, 2023-2032 (In $ Million)
Figure 33: Asia-Pacific Plant-Based Food & Beverage Market, By Other Plant-Based Beverages, 2023-2032 (In $ Million)
Figure 34: Asia-Pacific Plant-Based Food & Beverage Market, By Other Product Types, 2023-2032 (In $ Million)
Figure 35: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Source, In 2022
Figure 36: Asia-Pacific Plant-Based Food & Beverage Market, By Soy, 2023-2032 (In $ Million)
Figure 37: Asia-Pacific Plant-Based Food & Beverage Market, By Wheat, 2023-2032 (In $ Million)
Figure 38: Asia-Pacific Plant-Based Food & Beverage Market, By Pea, 2023-2032 (In $ Million)
Figure 39: Asia-Pacific Plant-Based Food & Beverage Market, By Coconut, 2023-2032 (In $ Million)
Figure 40: Asia-Pacific Plant-Based Food & Beverage Market, By Almond, 2023-2032 (In $ Million)
Figure 41: Asia-Pacific Plant-Based Food & Beverage Market, By Cashew, 2023-2032 (In $ Million)
Figure 42: Asia-Pacific Plant-Based Food & Beverage Market, By Other Sources, 2023-2032 (In $ Million)
Figure 43: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Storage, In 2022
Figure 44: Asia-Pacific Plant-Based Food & Beverage Market, By Frozen, 2023-2032 (In $ Million)
Figure 45: Asia-Pacific Plant-Based Food & Beverage Market, By Refrigerated, 2023-2032 (In $ Million)
Figure 46: Asia-Pacific Plant-Based Food & Beverage Market, By Shelf-Stable, 2023-2032 (In $ Million)
Figure 47: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Distribution Channel, In 2022
Figure 48: Asia-Pacific Plant-Based Food & Beverage Market, By Store-Based Distribution Channel, 2023-2032 (In $ Million)
Figure 49: Asia-Pacific Plant-Based Food & Beverage Market, Growth Potential, By Store-Based Distribution Channel, In 2022
Figure 50: Asia-Pacific Plant-Based Food & Beverage Market, By Supermarkets/Hypermarkets, 2023-2032 (In $ Million)
Figure 51: Asia-Pacific Plant-Based Food & Beverage Market, By Convenience Stores, 2023-2032 (In $ Million)
Figure 52: Asia-Pacific Plant-Based Food & Beverage Market, By Specialty Stores, 2023-2032 (In $ Million)
Figure 53: Asia-Pacific Plant-Based Food & Beverage Market, By Other Store-Based Distribution Channels, 2023-2032 (In $ Million)
Figure 54: Asia-Pacific Plant-Based Food & Beverage Market, By Non-Store-Based Distribution Channel, 2023-2032 (In $ Million)
Figure 55: Asia-Pacific Plant-Based Food & Beverage Market, Country Outlook, 2022 & 2032 (In %)
Figure 56: China Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 57: Japan Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 58: India Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 59: South Korea Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 60: Malaysia Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 61: Thailand Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 62: Vietnam Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 63: Australia & New Zealand Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
Figure 64: Rest Of Asia-Pacific Plant-Based Food & Beverage Market, 2023-2032 (In $ Million)
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