Plant-based meat popularity fuels new ventures in Thailand

[snoop1130]

 

The appeal of plant-based meat production continues to rise as companies recognise the lucrative potential of this burgeoning sector.

 

The opportunity to tap into a new revenue stream and cater to health-conscious consumers has led to collaborations between local entrepreneurs, scientists, and international firms, said Buranin Rattanasombat, the senior executive vice-president for new business and infrastructure at PTT Plc.

 

“In Thailand, a joint venture between local and British companies has led to the establishment of a new plant-based food production facility. The country’s abundance of raw materials makes it an ideal location for such ventures.”

 

The joint venture, Nutra Regenerative Protein Co., is a collaboration between Innobic (Asia), PTT’s life sciences arm, and Nove Foods Co., a subsidiary of SET-listed NR Instant Produce. The companies partnered with UK-based Plant and Bean to form a new company, Plant and Bean (Thailand), dedicated to the operation of the new factory in Ayutthaya.

 

The new company aims to become a major global plant-based food manufacturer, selling products both domestically and internationally. Thailand’s lower plant-based protein manufacturing costs compared to the European Union make it an attractive investment location. The ongoing conflict between Russia and Ukraine has increased costs for many plant-based meat manufacturers, making Thailand a prime option for relocation.

 

Profit potential

 

Plant and Bean (Thailand) is confident about the profit potential in this industry, especially considering the global market value of plant-based products will hit US$13 billion in 2022, with the US accounting for 75% of consumers.

 

Local sugar producer, Mitr Phol Group, also entered the plant-based meat sector, investing in food technology startup, Meat Avatar Co. The company seeks to add value to agricultural products through high technology, expanding its revenue streams.

 

Plant and Bean (Thailand) anticipates numerous business opportunities as several foreign food firms express interest in joint operations. Notably, US fast food chain Texas Chicken has partnered with the company to introduce plant-based food to its menu, targeting younger consumers.

 

The company plans to produce both ready-to-cook and ready-to-eat food with similar characteristics to real meat. The factory in Ayutthaya is designed to have an annual production capacity of 3,000 tonnes, with plans to increase it to 13,000 tonnes in two years through a 400 million baht investment.

 

Mitr Phol and Meat Avatar also aim to offer a wide array of plant-based meats to satisfy diverse consumer tastes. Both companies have a vision to be leaders in the industry and support Thai farmers by adding value to their produce.

 

The demand for plant-based protein is expected to increase as health-conscious consumers seek affordable options. Prices for plant-based food range from 100 to 110 per kilogramme, similar to premium pork prices in Bangkok. However, plant-based food offers a higher protein content, making it a cost-effective choice for consumers.

 

Plant and Bean (Thailand) plans to ensure its products are free from genetically modified organisms. In line with the global campaign against climate change, the company’s factory utilises clean energy from rooftop solar panels in its manufacturing process.

 

A manufacturer of cassava-based products, UBE has announced its intention to develop new food products in line with health trends. In collaboration with experts from Chulalongkorn University, UBE aims to develop innovative food that better matches consumer demands, reported Bangkok Post.

 

By Alex Morgan

Caption: PHOTO VIA:Jeff Vinluan FROM:Pexels.com

 

Source: The Thaiger 2024-04-22

 

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[Denim]

Plant based meat .

 

Can't they just call a spade a spade ' plant based food ' 

 

Why do they have to drag meat into it at all. 

 

If a eating meat is abhorent to some people why try to make fake meat for them ? 

 

 

Actually, I know the answer to that. Big profits

 

 

 

Edited April 22 by Denim

[Tropicalevo]

If God wanted me to eat only plants, I would have been born a cow.

As I was born a human, my body needs a variety of things including real meat.

 

AS a side note, I did read sometime last month that Vegan and 'plant based food' are rapidly going out of fashion in the west.

Largely because of cost and the fact that it is highly processed.

Edited April 22 by Tropicalevo

[dinsdale]

So the poularity of this rubbish is growing? If it is it wouldn't be by much. Vegans are nutters and a miniroriy interest/pressure group. Humans are animals of the omnivore variety. This is a scientific fact. Personally I like meat from an animal not fake meat made by scientists/chemists.

[KhunLA]

Nah ... fake meat will never catch, not in my life time.   Especially for the price they're charging.  Animals eat and have enough crap injected into them.   I don't need any more chemicals in my diet than that.

[Korat Kiwi]

You put lipstick on a pig it's still a pig. 

 

You dress up plants and say they're meat substitute... Yeah right! 

 

I prefer my ladies to be meat eaters too. 

[freeworld]

Its not meat if its made from a plant.

 

I would say they are plant based plant patties.

[norfolkandchance]

[retarius]

1 hour ago, Tropicalevo said:

 

 

AS a side note, I did read sometime last month that Vegan and 'plant based food' are rapidly going out of fashion in the west.

Largely because of cost and the fact that it is highly processed.

I read on the business pages that the stock price of plant based products is nose diving in the US based on declining sales so early in the life cycle. Let's face it if we are fishing out the seas, I want to eat as much sashimi tuna I can before it goes extinct....same with meat, what am I going to eat tonight? An 8oz wagyu beef steak. 

I feel the same way about plant based food as I do about eating insects....revolting. 

[johng]

I think if push came to shove I'd prefer plant based over bug based..but ultimately prefer "real meat" from an animal.

 

 

[TravelerEastWest]

2 hours ago, Denim said:

Plant based meat .

Can't they just call a spade a spade ' plant based food ' 

Why do they have to drag meat into it at all. 

If a eating meat is abhorent to some people why try to make fake meat for them ? 

Actually, I know the answer to that. Big profits

Actually the answer is simple and you might have guessed many people love to eat meat but they feel that it is not good for their health so plant based products taht tase similar to meat are a stepping stone to a whole food plant based diet.

 

I could be wrong but step by step more and more studies seem to support a plant based diet.

 

As for profits company's like to give people want they want and make lots of profits... very normal...

[Korat Kiwi]

1 hour ago, norfolkandchance said:

I've tried turkey bacon and you can put it with this stuff and shove it where the sun don't shine. 

 

Nasty horrible stuff.  The real McCoy or nothing in my book. 

[Dazinoz]

I love plant based meats - from a meat packing plant.

[hotchilli]

15 hours ago, KhunLA said:

Nah ... fake meat will never catch, not in my life time.   Especially for the price they're charging.  Animals eat and have enough crap injected into them.   I don't need any more chemicals in my diet than that.

Fake meat might attract the vegans.. not the meat eaters.

[newbee2022]

17 hours ago, snoop1130 said:

 

The appeal of plant-based meat production continues to rise as companies recognise the lucrative potential of this burgeoning sector.

 

The opportunity to tap into a new revenue stream and cater to health-conscious consumers has led to collaborations between local entrepreneurs, scientists, and international firms, said Buranin Rattanasombat, the senior executive vice-president for new business and infrastructure at PTT Plc.

 

“In Thailand, a joint venture between local and British companies has led to the establishment of a new plant-based food production facility. The country’s abundance of raw materials makes it an ideal location for such ventures.”

 

The joint venture, Nutra Regenerative Protein Co., is a collaboration between Innobic (Asia), PTT’s life sciences arm, and Nove Foods Co., a subsidiary of SET-listed NR Instant Produce. The companies partnered with UK-based Plant and Bean to form a new company, Plant and Bean (Thailand), dedicated to the operation of the new factory in Ayutthaya.

 

The new company aims to become a major global plant-based food manufacturer, selling products both domestically and internationally. Thailand’s lower plant-based protein manufacturing costs compared to the European Union make it an attractive investment location. The ongoing conflict between Russia and Ukraine has increased costs for many plant-based meat manufacturers, making Thailand a prime option for relocation.

 

Profit potential

 

Plant and Bean (Thailand) is confident about the profit potential in this industry, especially considering the global market value of plant-based products will hit US$13 billion in 2022, with the US accounting for 75% of consumers.

 

Local sugar producer, Mitr Phol Group, also entered the plant-based meat sector, investing in food technology startup, Meat Avatar Co. The company seeks to add value to agricultural products through high technology, expanding its revenue streams.

 

Plant and Bean (Thailand) anticipates numerous business opportunities as several foreign food firms express interest in joint operations. Notably, US fast food chain Texas Chicken has partnered with the company to introduce plant-based food to its menu, targeting younger consumers.

 

The company plans to produce both ready-to-cook and ready-to-eat food with similar characteristics to real meat. The factory in Ayutthaya is designed to have an annual production capacity of 3,000 tonnes, with plans to increase it to 13,000 tonnes in two years through a 400 million baht investment.

 

Mitr Phol and Meat Avatar also aim to offer a wide array of plant-based meats to satisfy diverse consumer tastes. Both companies have a vision to be leaders in the industry and support Thai farmers by adding value to their produce.

 

The demand for plant-based protein is expected to increase as health-conscious consumers seek affordable options. Prices for plant-based food range from 100 to 110 per kilogramme, similar to premium pork prices in Bangkok. However, plant-based food offers a higher protein content, making it a cost-effective choice for consumers.

 

Plant and Bean (Thailand) plans to ensure its products are free from genetically modified organisms. In line with the global campaign against climate change, the company’s factory utilises clean energy from rooftop solar panels in its manufacturing process.

 

A manufacturer of cassava-based products, UBE has announced its intention to develop new food products in line with health trends. In collaboration with experts from Chulalongkorn University, UBE aims to develop innovative food that better matches consumer demands, reported Bangkok Post.

 

By Alex Morgan

Caption: PHOTO VIA:Jeff Vinluan FROM:Pexels.com

 

Source: The Thaiger 2024-04-22

 

Get our Daily Newsletter - Click HERE to subscribe
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Excellent move. Hopefully the Govt will be subsidise and support this new necessary business. 👍👍👍👏👏👏🙏🙏🙏

[AustinRacing]

17 hours ago, Denim said:

Plant based meat .

 

Can't they just call a spade a spade ' plant based food ' 

 

Why do they have to drag meat into it at all. 

 

If a eating meat is abhorent to some people why try to make fake meat for them ? 

 

 

Actually, I know the answer to that. Big profits

 

 

 

You seem to have a beef with naming of the product. 😂😂😂😂.  Valid point though.

Edited April 23 by AustinRacing

[cdemundo]

"I think if push came to shove I'd prefer plant based over bug based..but ultimately prefer "real meat" from an animal."

 

I agree.

I can't even eat the bugs of the sea that so many love.

But if I don't know and it tastes like meat, wEll I guess I won't know.

[lavender19]

Probably do well here. They are easily brainwashed 

[WilliamSmits]

I do believe we should get more of our protein out of plants and still eat the meat that we can grow sustainably.

The plant based meat industry is nothing more than another marketing trick to sell fast food with a great name and no real content

[proton]

If you are an animal lover you don't want to eat dead ones, but does not mean you dislike the taste and texture of meat-simple.

[HappyExpat57]

Oh, this just gets better and better. "They" are now developing a meat-based carrot callot a "marrot."

 

 

[geminiman]

Soylent Green is People!!!

[Stargeezr]

Plant meat is very high in salt content, just go to any large food store and read how many grams of sodium, (salt) is 

in these hamburgers, or hot dog style plant meat. I will not even try it  at A & W or any other place that

sells the junk.

[connda]

They are bound and determined to cram this down the throats of consumers who prefer to eat meat.

[sandyf]

19 hours ago, Denim said:

Plant based meat .

 

Can't they just call a spade a spade ' plant based food ' 

 

Why do they have to drag meat into it at all. 

Who do you mean by "they".

Nothing new here. In the early 80s I built a prototype conveyor oven for a food company in Norfolk to make plant based chicken. The factory works manager had fixed views on meat and said it would never work. When we did the trials he was pleased to see some of the pieces with slightly burnt edges and said the proverbial 'told you so'.

The company research dept however disagreed and asked him when was the last time he took a chicken out of the oven that didn't have brown patches. They were pleased with the trials and the rollout of the product was very successful, a couple of years later we got the order for a production unit, by that time they were doing both plant based chicken and beef for canned curries and stews.

At the end of the day I would suggest that there is little difference in the concept of plant based meat, zirconia diamonds or alcohol free beer, all tailored to suit a market.

[connda]

19 hours ago, snoop1130 said:

Prices for plant-based food range from 100 to 110 per kilogramme, similar to premium pork prices in Bangkok.

Lean Pork Tenderloin vs chemical-ladened (we promise it tastes like pig) fake plant-base slop?

Yeah - this plant-base **** may appeal to some of the Lefty Eco-warrior type in BKK...but for the other 60 million people in Thailand?  Meat markets aren't going out of style in my life-time.  Not in Asia.

"The billionaire class will force governments to outlaw meat for the commoner scum."

Right - you do that at the risk of social discord and social uprisings.  Oppression works until it fails.
Remember:  Liberté, égalité, fraternité

[john donson]

that thing is so toxic with seed oils and chemicals

 

not enough weird or sick kids already ?

[Korat Kiwi]

1 hour ago, HappyExpat57 said:

Oh, this just gets better and better. "They" are now developing a meat-based carrot callot a "marrot."

 

 

Possibly closer to the truth if they called it a maggot. 

[spidermike007]

As far as I'm concerned if the average person had to slaughter, and dress a cow, a lamb, or a pig, most would not be eating meat. 

[spidermike007]

So far I only see one brand in the supermarkets, so my question is where can you buy this stuff, and why is the distribution so poor?