Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
Plant-based alternatives are in emerging stages in Asia and set to gain traction. Companies must navigate the unique perception of meat and dairy in this region to introduce plant-based products that match consumer expectations of nutrition, taste…
Growth in plant-based dairy slowed in 2022, following the relatively strong rebound seen in 2021, after sales had shown a marked decline in 2020, mainly due to the pandemic-induced slump in the Chinese market in this year. Other plant-based milk,…
Being a mature product, soy drinks registered fairly modest growth in retail current value terms in 2023. This was driven primarily by price adjustments made by leading players such as Zuming and Vitasoy, due to rising costs of soybeans and labour,…
Retail volume sales of soy drinks have been growing at a slow but stable rate over the years, due to consistent consumer demand and the maturity of the category, with this trend set to be maintained in 2023. Soy drinks have been popular in Hong Kong…
Soy drinks continued to dominate demand for plant-based milk in India at the end of the review period. It is popular for several reasons. Firstly, soy is widely consumed in India in various forms, where it is used in different vegetable-based dishes,…
Soy drinks is the best-known and most popular plant-based dairy sub-category in Indonesia, followed by mung bean milk. Soy drinks have a long history in Indonesia and are enjoyed by many consumers. Their positioning is not so much as a milk…
Plant-based dairy is set to see a decline in retail volume terms in 2023, largely due to the decline in soy drinks, which accounts for nearly 85% of overall sales in retail value terms in plant-based dairy. Over the review period, soy drinks saw…
“Other” plant-based milk is projected to continue to see dynamic retail volume and current value and foodservice volume growth to continue to gain on soy drinks over 2023. “Other” plant-based milk is increasingly present on menus in foodservice…
The growth and adoption of other plant-based milk has flourished through foodservice, particularly fast-growing chained specialist coffee shops. In recent years, different other plant-based milk options have become more widely available in…
Plant-based dairy experienced a notable increase in sales over the review period, and this is set to continue in 2023. In South Korea, plant-based dairy is primarily dominated by plant-based milk, as plant-based yoghurt and cheese are still in their…
In the first half of 2022, due to the surge in confirmed cases and a high number of people under home quarantine, there was a significant increase in demand for large-sized soy milk products and plant-based milk products that can be stored at room…
Health and wellness trends continue to boost the popularity of plant-based dairy in Thailand. This is being driven by low-fat and low-sugar demands, as well as providing options for consumers who are allergic or intolerant to cow’s milk. Such factors…
Soy drinks remained the only significant subcategory within plant-based dairy in 2023. Retail volume sales of soy drinks declined sharply during the COVID-19 pandemic in 2020 and 2021, due to decreased incidence of impulse purchases through…