Asia-Pacific Plant-based Food Market Outlook, 2028

The Asia-Pacific Plant-based Food Market is anticipated to grow with 11.35% CAGR by 2023-28 owing to plant-based food and beverage industry.

Featured Companies

  • 1. Nestle SA
  • 2. The Kraft Heinz Company
  • 3. Unilever
  • 4. General mills Inc.
  • 5. Kellogg Company
  • 6. Conagra Brands, Inc
  • More...

In Asia-Pacific, plant-based alternatives have been popular for a long time, with tofu, seitan and tempeh playing a major role in Asian diets. Nevertheless, meat consumption has increased in recent decades in some regions of Asia, such as China, Japan, Korea and Vietnam, as a reflection of rapid population growth and overall income growth. To satisfy the Asian demand for meat, sustainable alternatives and solutions need to be considered, such as plant-based products that mimic the texture, taste and nutritional intake of animal products. However, since many of the plant-based products have been developed in the Western countries, they tend to be oriented to meet the taste of Western consumers, favouring the reproduction of meat substitutes such as, for example, burgers, nuggets, and vegetable sausages. To please consumers there is a need to localize the product, developing and declining it according to the food tradition of Asia-Pacific. In this scenario, the interest of Asian consumers for plant-based diets has increased, especially because of the emergency situation caused by the pandemic, which has led to re-evaluate the issue of health, also in terms of food. In fact, partially or totally plant-based diets are associated with the idea of healthy and sustainable nutrition, both from an environmental point of view and with regard to animals. Furthermore, the increasing focus on environmental and animal welfare concerns drives a shift towards plant-based diets in the region. As a result, significant investments are being made in Asia-Pacific’s plant-based food and beverage sector. Additionally, government investments in health initiatives foster innovation in the industry, further boosting its growth and development. According to the research report, “Asia-Pacific Plant-based Food Market Outlook, 2028” published by Bonafide Research, the market is anticipated to grow with 11.35% CAGR by 2023-28. The Asia-Pacific region is rapidly gaining ground in the plant-based food and beverage industry, owing to the growing popularity of vegetarian cuisine. The demand for meat and dairy alternatives, in particular, has been well-received by consumers seeking healthier dietary options that meet their taste and nutritional preferences. Due to their health advantages, plant-based diets are popular among celebrities and athletes who want to improve their performance and lifespan. Celebrities are frequently seen promoting vegan cuisine and diets. People have adopted plant-based substitutes because of a positive celebrity-driven social media narrative that has piqued their interest. This in turn is fuelling plant-based food sales in Asia-Pacific. As the younger generation becomes more conscious about climate and its association with meat consumption, the demand for these products rises steadily in the Asia Pacific region. Cultural variations in countries such as India, China, and Japan significantly impact the rate of adoption among consumers. Major companies present in the market are focusing on product developments that cater to consumer preference. For instance, in December 2020, Nestlé launched its new range of plant-based meat in the country, under its Harvest Gourmet brand. The range includes plant-based ‘sausages,’ ‘burgers,’ ‘mince,’ and ‘nuggets,’ as well as meatless substitutes to dishes like kung pao chicken, spicy wok, pork belly, and braised meatballs. In November 2020, Beyond Meat Inc introduced plant-based minced pork in the Chinese market, to tap into the growing demand for such products. All these factors are aiding the plant-based food and beverage market to grow in the coming years.

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Based on countries, India is expected to grow with rapid Compound Annual Growth Rate (CAGR) of more than 17% by 2023-28. India is emerging as a key revenue-generation market for plant-based food manufacturers and the trend is expected to continue throughout the forecast period. Demand for plant-based foods across India is driven by rising awareness among people about the benefits of eating plant-based food products and penetration of a wide range of plant-based items, especially dairy substitutes. Customers claim to eat more plant-based meals for a variety of reasons, including improved overall health, weight management, a desire to eat healthily, and eating more sustainably. Although countries such as India have many vegetarians, adoption an animal-free diet is still low. The increasing awareness among consumers plays a crucial role and propels the growth of the vegan market in the region. Since immemorial times, India has been a place of ahimsa, vegetarianism, and vegan cuisines by default, but the plant-based food business has grown rapidly in recent years. Although the word has lately acquired popularity, plant-based eating has never been an alien concept in India. It has emerged as a burgeoning industry with enormous potential. Numerous SMEs and FMCGs have already entered India's plant-based food sector, offering plant-based alternatives to meat, poultry, seafood, dairy, and vegan meals for dogs and cats. The sector is witnessing a boost with over 50 start-ups already active in the space. The expansion of the plant-based foods business provides farmers with an enormous opportunity to enhance their income while tackling food poverty, climate change challenges, hunger, and public health threats. India offers potential for expansion due to its diverse crop yield, advanced food and beverage industry, research institutes, notable R&D achievements, and growing private equity sector. However, the number of vegan restaurants in Japan has increased significantly in the last couple of years. Major food producers based in the country, such as Marudai Food Co, NH Foods Ltd, and Itoham Foods Inc, are focusing on new product development and planning to launch plant-based products. This will foster the growth of the studied market in Japan in the years to come. Based on Product type, plant-based milk and plant-based meat and seafood are occupying more than 70% of the market share in 2022.

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Manmayi Raval

Manmayi Raval

Research Consultant

Meat analogues, also known as meat substitutes or mock meat, are not new to Asia. The introduction of meat analogues emerged in 6th century AD, influenced by the restricted diets of Chinese Buddhism. Traditionally, wheat-gluten or soy-based products were common ingredients found in meat analogues. One example is tempeh in Indonesia, a traditional fermented soy-based food originating from Java. Another example is soy milk in Japan, a conventional ingredient used to make yuba (curdled soymilk) which is usually eaten alone or thinly sliced and prepared with vegetables. These products have been used throughout Asia in areas where poverty restricted access to meat as well as religious dietary restrictions. As such, plant-based foods were more affordable, functional, and nutritious protein sources for this population. Back in 2010, 53% of meat substitute launches in APAC came with vegetarian claims, targeting a very niche group of consumers. Vegetarian diet is defined by no consumption of meat. The food make up consists of vegetables, grains, and sometimes eggs and dairy products. Traditional mock meats have faced image issues due to their highly processed nature and low nutritional value. However, mock meat launches have moved towards the GMO free and vegan/ animal free direction over the last five years. Starting in 2015, Asia Pacific became a rising market for “flexitarian” dieters, who occasionally substitute meat in their diet with plant-based protein. This newfound interest in plant-based foods offers lucrative growth opportunities in this segment. Based on distribution channel, E-commerce segment is growing with higher market share of more than 16% by 2023-28. Plant proteins are readily available and there is a growing demand for the finished goods. This has caused the number of small-scale producers to increase the business. Such manufacturers face the burden of different costs if conventional sales strategies are selected. With the rise in online sales channels in recent years, more manufacturers are able to enter the market and sell products without associated costs such as that for logistics, storage and more. Online sales channels offer freedom of sales and shipping to various countries as well with help of online marketplace. Green Monday, a plant-based Chinese start-up, announced in May 2020 that COVID-19 had caused its online sales to more than double in the previous two months. Omni pork, a pork substitute used in dumplings, noodles, and rice, was one of the most common purchases. When companies gain a better understanding of their target audience, they may also develop marketing strategies. Such companies focus their product creation and marketing efforts on consumer desires, showcasing their creativity, efficiency, and product protection in response to their customers' needs. Furthermore, most vendors are now using online platforms to sell their goods and their buyers prefer online channels since they have a larger selection and variety of products to choose from. The ease of purchasing and availability of items, in addition to the low price, have fuelled the use of online platforms.

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Manmayi Raval

Market Drivers Growing Awareness of Protein Diet: The Asia plant based food market is poised to receive upswing owing to the fact that in the current pandemic situation, most customers are purchasing protein-based supplements to enhance their health and immunity, as well as a growing understanding of the value of immunity. The increased demand for protein ingredients in plant based food has fuelled the demand for these ingredients. Furthermore, Plant proteins, for instance, have a lower content of essential amino acids than animal proteins, significantly less limiting amino acids. The various rating systems currently used to determine protein quality from plant sources aid in raising the market sales growth. Plant-based proteins and their capacity for reducing and preventing metabolic syndrome, diabetes management, and weight management are the various rating systems currently used to determine protein quality from plant sources. According to the research, protein supplements were the most commonly consumed form of dietary supplement among those who had consumed dietary supplements at some point in their lives. Growth in the Asia Plant Based Food is driven by rising health consciousness, contributing to the consumption of functional and nutritious foods among consumers. Abundance of Raw Materials: The Asia-Pacific region boasts a rich variety of plant-based ingredients, thanks to its diverse agricultural landscape and climate. This abundance of raw materials allows for a wide range of plant-based food products to be developed, incorporating ingredients such as legumes, grains, fruits, vegetables, nuts, and seeds. The availability of diverse plant-based ingredients enables manufacturers to create innovative and flavourful plant-based alternatives. The region's culinary traditions offer a vast array of plant-based ingredients that have been used for centuries. Ingredients like soybeans, tofu, tempeh, seitan, jackfruit, and various types of mushrooms have long been staple components of Asian cuisine. These traditional ingredients are now gaining popularity globally as plant-based alternatives to meat, dairy, and seafood. Also, the Asia-Pacific region is known for its rich heritage of traditional medicine and functional foods. Many plant-based ingredients, such as turmeric, ginger, ginseng, and various herbs, have long been used for their health-promoting properties. These ingredients are now incorporated into functional plant-based products, including beverages, snacks, and supplements, capitalizing on the region's abundance of medicinal and functional raw materials. Market Challenges Cultural and Dietary Preferences: The Asia-Pacific region has diverse cultural and dietary preferences deeply rooted in animal-based foods. Traditional meat, dairy, and seafood dishes hold significant cultural significance and are deeply ingrained in the culinary traditions of many countries. Shifting consumer preferences towards plant-based alternatives can be challenging due to strong cultural attachments and the perception that plant-based options may not adequately replace traditional animal-based foods. Affordability is also a significant consideration for many consumers in the Asia-Pacific region. Plant-based food products, especially specialty or imported items, may be perceived as more expensive compared to traditional animal-based alternatives. Price sensitivity can impact consumer purchasing decisions and hinder the broader adoption of plant-based options. Strategies to improve affordability, such as local sourcing and cost-effective production methods, are essential to overcome this challenge. Regulatory and Labeling Challenges: Regulatory frameworks for plant-based food products vary across different countries in the Asia-Pacific region. Ensuring compliance with labeling requirements, ingredient standards, and certification processes are complex for manufacturers operating in multiple markets. Harmonizing regulations and establishing clear guidelines for plant-based products can facilitate market growth and consumer confidence. The availability and variety of plant-based food products in the Asia-Pacific region can be limited compared to more established markets. Consumers may have limited access to a wide range of plant-based alternatives, especially in smaller towns or rural areas. Expanding the product range, increasing distribution channels, and improving market accessibility are key challenges for manufacturers and retailers. Market Trends Asian-Inspired Plant-Based Products: The Asia-Pacific region is known for its diverse and flavoursome cuisines. Plant-based food manufacturers are innovating to create Asian-inspired plant-based products that cater to local tastes and preferences. This includes plant-based versions of traditional Asian dishes, condiments, sauces, and snacks that capture the authentic flavours of the region. Tofu and tempeh, traditional Asian plant-based protein sources, are widely used in vegetarian and vegan cooking. These soy-based products serve as versatile ingredients in Asian-inspired recipes such as stir-fries, curries, soups, and noodle dishes. Tofu and tempeh provide a meaty texture and absorb the flavours of sauces and seasonings, making them ideal replacements for meat in many Asian recipes. Asian-inspired plant-based snacks are gaining popularity due to their unique flavours and textures. These snacks often draw inspiration from traditional Asian street foods and include items like rice crackers, seaweed snacks, vegetable chips, and soy-based snacks. They offer a convenient and flavourful plant-based alternative for on-the-go consumption. Plant-Based Food Tourism: Plant-based food tourism is emerging as a trend in the Asia-Pacific region, with travellers seeking out plant-based dining experiences and exploring local plant-based food scenes. Cities and destinations are responding by offering a wide range of plant-based restaurants, cafes, and food tours that showcase the region's plant-based culinary offerings. Cities like Tokyo, Bangkok, Taipei, Singapore, Melbourne, and Bali have gained recognition for their vibrant plant-based food scenes, attracting tourists who want to indulge in a variety of plant-based cuisines. Restaurants catering specifically to vegan and vegetarian diets are becoming more prevalent in popular tourist destinations. These establishments offer a wide array of plant-based dishes inspired by local and international cuisines. They provide travellers with the opportunity to enjoy authentic plant-based meals that are thoughtfully prepared and showcase regional flavours. In addition to that, plant-based food festivals and events are becoming highlights of the tourism calendar in various Asia-Pacific destinations. These festivals bring together local and international plant-based food vendors, chefs, and enthusiasts, offering a wide range of plant-based options to explore. They provide a vibrant atmosphere for travellers to indulge in diverse plant-based dishes and discover new culinary trends. Key Players The Asia-Pacific plant-based food market has seen the emergence of several key players that are driving innovation, expanding market reach, and shaping the industry. Some of them are Kellogg Company, Danone S.A., Archer Daniels Midland Company, Blue Diamond Growers, Nestlé S.A., JBS S.A., The Kraft Heinz Company, Unilever plc, General Mills, Inc.,, Conagra Brands, Inc., Vitasoy International Holdings Limited, Impossible Foods Inc, Bob's Red Mill, The Hain Celestial Group, Inc. and others. Recent Developments • In April 2021, Beyond Meat Inc has expanded its production by opening a production facility in Shanghai to potentially reduce the carbon footprint of its products and to tap the country’s supply chain resources. This facility also focuses on R&D responsibilities to invent new plant-based products for the region. • In February 2021, Nestle has launched plant-based food products in Thailand owing to the growing demand for plant-based alternatives which are friendly to the environment and contain nutritional benefits. The company has launched plant-based food products under its gourmet brand to capture wellness trends. Considered in this report • Geography: Asia-Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Asia-Pacific Plant-based Food with its value and forecast along with its segments • Country-wise Plant-based Food market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • China • Japan • India • Australia • South Korea By Product Type • Plant-based Milk • Plant-based Meat and Seafood (Tofu, Quorn, Seitan, Fish, TVP, Burger Patties, Tempeh, Hot Dogs and Sausages, Meatballs, Ground Meat, Nuggets, Crumbles, Shreds, Crab, shrimp, Others) • Plant-based Cheese • Plant-based Desserts (Cakes, Pastries, Custard, Pudding, etc.) • Plant-based Ice Cream • Plant-based Yogurt • Plant-based Butter • Plant-based Bars (Protein Bars, Energy Bars, Cereal Bars, Fruit & Nut Bars, etc.) • Plant-based Bakery Snacks and Confectionery (Biscuit and Cookies, Bread and Rolls, Chocolate, etc.) • Plant-based Creamer • Plant Based Mayonnaise and Salad Dressing • Others By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Plant-based Food industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • Nestle SA
  • The Kraft Heinz Company
  • Unilever
  • General mills Inc.
  • Kellogg Company
  • Conagra Brands, Inc
  • JBS S.A
  • Impossible food
  • Danone SA
  • Archer-Daniels-Midland Company
  • Blue Diamond Growers
  • The Hain Celestial Group, Inc.
  • Bob's Red Mill

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Research Methodology
  • 2.1. Secondary Research
  • 2.2. Primary Data Collection
  • 2.3. Market Formation & Validation
  • 2.4. Report Writing, Quality Check & Delivery
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Assumptions
  • 3.3. Limitations
  • 3.4. Abbreviations
  • 3.5. Sources
  • 3.6. Definitions
  • 4. Economic /Demographic Snapshot
  • 5. Global Plant-based Food Market Outlook
  • 5.1. Market Size By Value
  • 5.2. Market Share By Region
  • 5.3. Market Size and Forecast, By Geography
  • 5.4. Market Size and Forecast, By Product Type
  • 5.5. Market Size and Forecast, By Distribution Channel
  • 6. Asia-Pacific Plant-based Food Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Country
  • 6.3. Market Size and Forecast, By Product Type
  • 6.4. Market Size and Forecast, By Distribution Channel
  • 7. Market Dynamics
  • 7.1. Market Drivers & Opportunities
  • 7.2. Market Restraints & Challenges
  • 7.3. Market Trends
  • 7.4. Covid-19 Effect
  • 7.5. Supply chain Analysis
  • 7.6. Policy & Regulatory Framework
  • 7.7. Industry Experts Views
  • 7.8. China Plant-based Food Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Product Type
  • 7.8.3. Market Size and Forecast By Distribution Channel
  • 7.9. Japan Plant-based Food Market Outlook
  • 7.9.1. Market Size By Value
  • 7.9.2. Market Size and Forecast By Product Type
  • 7.9.3. Market Size and Forecast By Distribution Channel
  • 7.10. India Plant-based Food Market Outlook
  • 7.10.1. Market Size By Value
  • 7.10.2. Market Size and Forecast By Product Type
  • 7.10.3. Market Size and Forecast By Distribution Channel
  • 7.11. Australia Plant-based Food Market Outlook
  • 7.11.1. Market Size By Value
  • 7.11.2. Market Size and Forecast By Product Type
  • 7.11.3. Market Size and Forecast By Distribution Channel
  • 7.12. South Korea Plant-based Food Market Outlook
  • 7.12.1. Market Size By Value
  • 7.12.2. Market Size and Forecast By Product Type
  • 7.12.3. Market Size and Forecast By Distribution Channel
  • 8. Competitive Landscape
  • 8.1. Competitive Dashboard
  • 8.2. Business Strategies Adopted by Key Players
  • 8.3. Key Players Market Share Insights and Analysis, 2022
  • 8.4. Key Players Market Positioning Matrix
  • 8.5. Porter's Five Forces
  • 8.6. Company Profile
  • 8.6.1. The Kellogg Company
  • Company Snapshot
  • Company Overview
  • Financial Highlights
  • Geographic Insights
  • Business Segment & Performance
  • Product Portfolio
  • Key Executives
  • Strategic Moves & Developments
  • 8.6.2. Danone S.A.
  • 8.6.3. Archer Daniels Midland Company
  • 8.6.4. Blue Diamond Growers
  • 8.6.5. Nestlé S.A.
  • 8.6.6. JBS S.A.
  • 8.6.7. The Kraft Heinz Company
  • 8.6.8. Unilever plc
  • 8.6.9. General Mills, Inc
  • 8.6.10. Conagra Brands, Inc
  • 8.6.11. Vitasoy International Holdings Limited
  • 8.6.12. Impossible Foods Inc
  • 8.6.13. Bob's Red Mill
  • 8.6.14. The Hain Celestial Group, Inc
  • 9. Strategic Recommendations
  • 10. Annexure
  • 10.1. FAQ`s
  • 10.2. Notes
  • 10.3. Related Reports
  • 11. Disclaimer

List of Tables
Table 1: Global Plant-based Food Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2020
Table 3: Economic Snapshot of Other Prominent Countries 2020
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Plant-based Food Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 6: Global Plant-based Food Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 7: Asia-Pacific Plant-based Food Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 8: Asia-Pacific Plant-based Food Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 9: Influencing Factors for Global Plant-based Food Market, 2022
Table 10: China Plant-based Food Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 11: China Plant-based Food Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 12: Japan Plant-based Food Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 13: Japan Plant-based Food Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 14: India Plant-based Food Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 15: India Plant-based Food Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 16: Australia Plant-based Food Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 17: Australia Plant-based Food Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 18: South Korea Plant-based Food Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 19: South Korea Plant-based Food Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)

List of Figures
Figure 1: Global Plant-based Food Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global Plant-based Food Market Share By Region (2022)
Figure 6: Asia-Pacific Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: Asia-Pacific Plant-based Food Market Share By Country (2022)
Figure 8: China Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Japan Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: India Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Australia Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: South Korea Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2022
Figure 14: Porter's Five Forces of Global Plant-based Food Market

Market Research FAQs

The plant-based food market in the Asia-Pacific region refers to the industry that produces and sells food products derived from plant sources. These products are designed to provide alternatives to animal-based products, catering to consumers who follow vegetarian, vegan, or flexitarian diets.

The growth of the plant-based food market in the Asia-Pacific region can be attributed to several factors. These include increasing awareness of environmental sustainability, concerns about health and wellness, rising disposable incomes, and changing dietary preferences influenced by global food trends.

The Asia-Pacific region offers a diverse range of popular plant-based food options. Some commonly consumed plant-based foods include tofu, tempeh, plant-based meat alternatives, plant-based dairy alternatives (such as soy milk and coconut milk-based products), plant-based snacks, and traditional plant-based dishes from various Asian cuisines.

Plant-based foods can offer health benefits as they are typically lower in saturated fat and cholesterol, and higher in fiber, vitamins, and minerals compared to animal-based foods.

The prices of plant-based foods in the Asia-Pacific region can vary depending on factors such as brand, product type, and country. Generally, plant-based products may have a wide price range, with some being more expensive due to imported ingredients or specialized production processes.

Plant-based foods have become increasingly available in the Asia-Pacific region. They can be found in grocery stores, supermarkets, health food stores, and specialty stores that cater to vegetarian, vegan, or health-conscious consumers. Additionally, plant-based options are being introduced in restaurants and foodservice outlets to meet the growing demand.

Plant-based foods can be suitable for various dietary restrictions. They are naturally free of animal products, making them suitable for vegetarians and vegans. Many plant-based products are also gluten-free, soy-free, and nut-free, offering options for individuals with specific dietary needs or allergies.

Regulations regarding plant-based foods in the Asia-Pacific region can vary across countries. Food labeling regulations may specify guidelines for terms like "vegan," "vegetarian," or "plant-based."

Asia-Pacific Plant-based Food Market Outlook, 2028

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