Thailand Plant Based Meat Market Synopsis
The plant-based meat market in Thailand is experiencing robust growth, driven by changing consumer preferences towards more sustainable and ethical food choices. Thai consumers are becoming increasingly aware of the environmental impact of meat production and are embracing plant-based alternatives. This shift in dietary preferences has led to a surge in the availability of plant-based meat products, including burgers, sausages, and minced meat substitutes, in supermarkets, restaurants, and online platforms. The market is also witnessing investments from both domestic and international companies, indicating a positive outlook for the future of plant-based meat in Thailand.
Drivers of the Market
The Thailand plant-based meat market is on the upswing, driven by changing consumer preferences and growing environmental awareness. Health-conscious consumers are seeking alternatives to traditional meat products, and plant-based meat offers a sustainable and ethical choice. Increased accessibility to a variety of plant-based meat options in restaurants and retail outlets is contributing to market growth. Moreover, the Thai government`s initiatives to promote sustainable agriculture align with the trend, attracting investments in the production and marketing of plant-based meat products.
Challenges of the Market
The plant-based meat market in Thailand encounters its share of challenges. Traditional meat consumption is deeply ingrained in Thai culture, posing a hurdle for widespread adoption of plant-based alternatives. Ensuring taste and texture parity with animal-based meat while keeping products affordable is another challenge. Additionally, the market must deal with concerns related to sourcing sustainable plant-based ingredients and addressing environmental concerns associated with large-scale production.
COVID-19 Impact on the Market
The Thailand plant-based meat market experienced a mix of challenges and opportunities during the COVID-19 pandemic. While the demand for plant-based meat products remained relatively stable, supply chains faced disruptions in sourcing plant-based ingredients and processing them into meat alternatives. The retail sector, which sells plant-based meat products, saw increased activity as consumers sought alternatives to traditional meat. Plant-based meat manufacturers adapted by focusing on domestic production and exploring new product offerings. As the pandemic situation stabilizes and consumer preferences for sustainable and plant-based options continue to grow, the Thailand plant-based meat market is expected to expand further.
Key Players in the Market
The Thailand plant-based meat market is gaining traction, with several leading players offering innovative plant-based meat alternatives. One prominent company in this sector is CP Foods, a major conglomerate that has entered the plant-based meat market with its "C.P. Meiji" brand. Another key player is Quorn, known for its plant-based protein products. Additionally, Beyond Meat, a global leader in plant-based meat alternatives, has a presence in the Thai market. These leading players are contributing to the growing popularity of plant-based meat options in Thailand.
Key Highlights of the Report:
- Thailand Plant-based Meat Market Outlook
- Market Size of Thailand Plant-based Meat Market, 2024
- Forecast of Thailand Plant-based Meat Market, 2031
- Historical Data and Forecast of Thailand Plant-based Meat Revenues & Volume for the Period 2021-2031
- Thailand Plant-based Meat Market Trend Evolution
- Thailand Plant-based Meat Market Drivers and Challenges
- Thailand Plant-based Meat Price Trends
- Thailand Plant-based Meat Porter's Five Forces
- Thailand Plant-based Meat Industry Life Cycle
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Source for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Soy for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Pea for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Wheat for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Others for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Product for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Burgers for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Sausages for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Patties for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Nuggets, for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Tenders & Cutlets for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Grounds for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Others for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Type for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Chicken for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Pork for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Beef for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Fish for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Others for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By End-user for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Retail for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By HORECA (Hotel/Restaurant/Caf) for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Storage for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Refrigerated Plant-based Meat for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Frozen Plant-based Meat for the Period 2021-2031
- Historical Data and Forecast of Thailand Plant-based Meat Market Revenues & Volume By Shelf-stable Plant-based Meat for the Period 2021-2031
- Thailand Plant-based Meat Import Export Trade Statistics
- Market Opportunity Assessment By Source
- Market Opportunity Assessment By Product
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By End-user
- Market Opportunity Assessment By Storage
- Thailand Plant-based Meat Top Companies Market Share
- Thailand Plant-based Meat Competitive Benchmarking By Technical and Operational Parameters
- Thailand Plant-based Meat Company Profiles
- Thailand Plant-based Meat Key Strategic Recommendations