Having worked with the plant-based industry in our latest fundraise, we decided to share a quick review of what we have learnt from this fast-growing disruptive industry.
We have observed that plant-based food has become more mainstream, with several new categories emerging, such as Meat alternatives & Plant-based Milk, leading to innovations such as vegan ice cream aka “dairy-free frozen dessert”.
With ~75% of world population already lactose intolerant, rising concern of factory farms and their impact on climate change, plant-based food has served as a sustainable, tasty and environmentally friendly alternative.
However, one key limiting factor of this ‘meatless revolution’ is the higher price point. Yet, health-conscious individuals have started showing increased willingness to pay a premium for such quality and healthy alternatives.
Investors too have showed increased appetite in this emerging health-conscious sector, funding a total of USD 17bn in the past decade. The industry is now pivoting on R&D efforts to herald cheaper meat alternatives. We strongly believe this is a market worth capitalizing on – especially for those in ASEAN markets which is booming with several opportunities.
