ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET FORECAST 2021-2028

The Asia-Pacific plant-based food and beverage market growth is projected to evolve at a CAGR of 9.45% during the forecast period, 2021-2028.  The large concentration of the vegetarian population and the shifting consumer lifestyle and preference, and the growing awareness regarding plant-based food and beverages propel market growth.

asia-pacific-plant-based-food-and-beverage-market

The Asia-Pacific plant-based food and beverage market growth analysis includes the assessment of Australia & New Zealand, India, China, Japan, South Korea, Malaysia, Thailand, Singapore, and Rest of Asia-Pacific. Vegetable consumption is high in China, with meat consumption on the decline than that of the US. The government also aims to reduce the total meat consumption by 50% by 2030 to reduce greenhouse gas emissions. The plant-based brands are evaluated to lead in plant-based innovation domestically and globally. 

In South Korea, one-fifth of the population is minimizing meat intake, with rising numbers of flexitarians opting for plant-based alternatives. This is further supplemented by millennials changing traditional consumption habits. Burger King in Sourth Korea added two plant-based versions of its Whopper in February 2021. Further, there is a gradual trend of plant-based food in Thailand, with increasing health concerns and global sustainable development. Zen Corporation launched a plant-based version of pad ka prao at all locations in September 2020. Such factors facilitate market growth in these countries.

Kikkoman Corp exports and manufactures soy sauce-based seasonings, soy milk beverages, soy sauce, clinical diagnostic reagents, wines, sake, etc. The product portfolio also includes enzymes, health foods, alcohol-based seasonings, etc. The company operates R&D laboratories in Japan, Asia, North America, and Europe, with headquarters in Noda-Shi, Chiba, Japan.

TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY    
    1. STUDY OBJECTIVES      
    2. SCOPE OF STUDY          
    3. METHODOLOGY   
    4. ASSUMPTIONS & LIMITATIONS           
  2. EXECUTIVE SUMMARY         
    1. MARKET SIZE & ESTIMATES    
    2. MARKET OVERVIEW      
  3. MARKET DYNAMICS  
    1. KEY DRIVERS       
      1. THE RISE OF VEGAN CULTURE
      2. INCREASE IN AWARENESS ABOUT LACTOSE INTOLERANCE   
      3. NUTRITIONAL BENEFITS OFFERED BY PLANT-BASED PRODUCTS     
    2. KEY RESTRAINTS
      1. HIGH PRICE
      2. LACK OF AWARENESS
      3. PERCEPTION CONTRAST BETWEEN DAIRY AND PLANT-BASED FOOD AND BEVERAGES 
  4. KEY ANALYTICS          
    1. IMPACT OF COVID-19 ON PLANT-BASED FOOD AND BEVERAGE MARKET 
    2. KEY INVESTMENT INSIGHTS   
    3. PORTER’S FIVE FORCES ANALYSIS 
      1. BUYERS POWER   
      2. SUPPLIERS POWER         
      3. SUBSTITUTION       
      4. NEW ENTRANTS    
      5. INDUSTRY RIVALRY         
    4. OPPORTUNITY MATRIX 
    5. VENDOR LANDSCAPE   
  5. MARKET BY PRODUCT TYPE          
    1. PLANT-BASED DAIRY    
    2. PLANT-BASED MEAT      
    3. PLANT-BASED OTHER PRODUCTS   
  6. MARKET BY SOURCE
    1. SOY 
    2. WHEAT       
    3. ALMOND     
    4. CORN          
    5. OTHER SOURCES           
  7. MARKET BY DISTRIBUTION CHANNELS 
    1. SUPERMARKETS/HYPERMARKETS  
    2. CONVENIENCE STORES           
    3. SPECIALTY STORES      
    4. ONLINE RETAIL    
    5. OTHER DISTRIBUTION CHANNELS   
  8. GEOGRAPHICAL ANALYSIS            
    1. ASIA-PACIFIC       
      1. MARKET SIZE & ESTIMATES      
      2. KEY DRIVERS         
      3. KEY CHALLENGES
      4. KEY PLAYERS        
      5. COUNTRY ANALYSIS       
        1. CHINA  
        2. JAPAN 
        3. INDIA    
        4. SOUTH KOREA         
        5. THAILAND       
        6. MALAYSIA      
        7. SINGAPORE   
        8. AUSTRALIA & NEW ZEALAND      
        9. REST OF ASIA-PACIFIC                                          
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS   
      1. PRODUCT LAUNCHES & DEVELOPMENTS   
      2. PARTNERSHIPS & AGREEMENTS        
    2. COMPANY PROFILES     
      1. AMY’S KITCHEN     
      2. BEYOND MEAT INC           
      3. BLUE DIAMOND GROWERS       
      4. CALIFIA FARMS     
      5. CONAGRA BRANDS         
      6. DAIYA FOODS INC.
      7. DANONE SA
      8. FIELD ROAST GRAIN MEAT CO INC    
      9. IMPOSSIBLE FOODS INC
      10. KIKKOMAN CORPORATION      
      11. MORNINGSTAR FARMS
      12. MOVING MOUNTAINS    
      13. PACIFIC FOODS OF OREGON 
      14. QUORN FOODS   
      15. SUNFED     
      16. SWEET EARTH INC         
      17. THE HAIN CELESTIAL GROUP INC
      18. YOFIX PROBIOTICS         
LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – PLANT-BASED FOOD AND BEVERAGE

TABLE 2: VEGANISM AROUND THE WORLD

TABLE 3: POPULATION PERCENTAGE OF LACTOSE INTOLERANT PEOPLE ACROSS THE WORLD

TABLE 4: ANNUAL CONSUMPTION OF COW MILK WORLDWIDE, BY COUNTRY

TABLE 5: NEW PRODUCT LAUNCHES OF PLANT-BASED PRODUCTS

TABLE 6: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOURCE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOURCE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY DISTRIBUTION CHANNELS, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY DISTRIBUTION CHANNELS, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 13: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 14: KEY PLAYERS IN ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET

TABLE 15: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 16: LIST OF PARTNERSHIPS & AGREEMENTS

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2020

FIGURE 6: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY PLANT-BASED DAIRY, 2021-2028 (IN $ MILLION)

FIGURE 7: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY PLANT-BASED MEAT, 2021-2028 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY PLANT-BASED OTHER PRODUCTS, 2021-2028 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2020

FIGURE 10: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOY, 2021-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY WHEAT, 2021-2028 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY ALMOND, 2021-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY CORN, 2021-2028 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER SOURCES, 2021-2028 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNELS, IN 2020

FIGURE 16: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY SUPERMARKETS/HYPERMARKETS, 2021-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY CONVENIENCE STORES, 2021-2028 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY SPECIALTY STORES, 2021-2028 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY ONLINE RETAIL, 2021-2028 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER DISTRIBUTION CHANNELS, 2021-2028 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: CHINA PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: JAPAN PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: INDIA PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: SOUTH KOREA PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: THAILAND PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: MALAYSIA PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: SINGAPORE PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: AUSTRALIA AND NEW ZEALAND PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: REST OF ASIA-PACIFIC PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

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