Tyson Foods to launch plant-based products in Asia-Pacific market
US meat processor Tyson Foods Inc will launch its plant-based food in select Asia-Pacific markets starting this month, as it looks to cash in on the burgeoning demand for meat substitutes in the region its rivals have set out to capture.
4 June 2021
5 minute read
By: Reuters reports that Impossible Foods Inc, Nestle SA, Beyond Meat Inc have already entered Asia with their plant-based meat products, expecting rising demand for the protein from consumers conscious about health, animal welfare and the environment.
Retail sales of meat substitutes in Asia-Pacific reached $16.3 billion in 2020 and are expected to exceed $20 billion by 2025, according to data provided by Euromonitor to Tyson Foods.
"The Asian market is a natural fit for this category with traditional plant-based products like tofu already entrenched in the culture," Tan Sun, president, Tyson Foods Asia-Pacific, said in a statement.
Tyson Foods, the biggest US producer of animal meat by sales, said on Tuesday 1 June it would first roll out plant-based nuggets, strips, and bites in Malaysia under its First Pride brand, with a view to expand into other markets.
The Jimmy Dean sausage maker launched its plant-based products late last year from its Raised & Rooted brand in Europe.
