With the Jay (Vegetarian) Festival currently being celebrated across Thailand, there’s no better time to talk about the growth of vegetarianism and veganism movements in the country.
For the past few years, Western markets such as the USA have been driving the narrative behind this movement. The ethical, environmental, and health implications of meat consumption have all been under scrutiny. The $800 million plant-based meat industry in USA is a testament to the increasing awareness around these issues.
- Ethical Reasons – Aversion to harming animals has been the foundation of vegetarianism and veganism. More information circulation about cruelty in animal farming practices is driving more people towards plant-based meat alternatives.
- Environmental Reasons – Deforestation for extensive animal farming and emission of greenhouse gasses like methane make meat production a significant contributor the to global warming crisis. Consequently, sustainable meat alternatives are gaining popularity among ecologically conscientious consumers.
- Health Implications – There have been conflicting studies and opinions about the health implications of consuming meat. Red meats have been under heavy scrutiny over their impact on consumers’ health. These debates have prompted consumers globally to take up plant-based proteins.
Major players like Impossible Foods and Beyond Meat have pioneered this market, garnering interest not only from vegetarians/vegans, but also from regular meat-eaters. A whopping 95% of Impossible Foods’ customers are omnivores. Even major players such as McDonald’s, Burger King, and Carl’s Jr. have started incorporating plant-based fake meats into their menus.
The Thai market has also hopped onto the plant-based food bandwagon – and for good reason! The entry of Impossible Foods and Beyond Meat into the Thai market has started providing mainstream alternatives to meat consumption. Even major restaurant chains such as Sizzler have started incorporating these meat alternatives in their menus.
As a consumer-centric company, Freshket is keeping a close eye on the consumer opinion and feedback on these meat alternatives.
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