Table of Contents
Overview
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- What you need to know
- Covered in this report
Executive Summary
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- The market
- The consumer
- Plant-based food and drink gains growth momentum
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- Figure 1: Consumption trends, November 2018
- Growing health concerns motivate change in consumer behaviour
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- Figure 2: Reasons for having less animal-based food and drink, November 2018
- Health benefits of plant-based diets are well-received by the majority
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- Figure 3: Perception of health benefits, November 2018
- Willingness to purchase plant-based food and drink varies based on dietary habits
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- Figure 4: Interest in plant-based alternatives, November 2018
- Specialised venues and Chinese-style restaurants intrigue local taste buds
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- Figure 5: Venue selection, November 2018
- Attitudes towards plant-based or animal meat and dairy reveal confusion
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- Figure 6: Attitudes towards plant-based diets, November 2018
- What we think
Issues and Insights
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- Prevention rather than cure might crack open the market
- The facts
- The implications
- Scientifically proven perks of plant-based diet could be alluring to males in their 40s
- The facts
- The implications
- The appeal of ‘lightness’ spikes but taste is non-negotiable
- The facts
- The implications
The Market – What You Need to Know
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- Growing health awareness drives plant-based food and drink market growth
- Flavours tailored to Chinese palates is the first step to adaption
- Government calls for less consumption of animal products to fight environmental catastrophe and diseases
Market Drivers
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- Pursuit of healthy lifestyle drives consumers to alternative products
- Demand for premiumised food and drink would boost market growth
- Health and fitness have been highlighted for further development
Competitive Strategies
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- Incorporate advanced manufacturing technology through joint ventures
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- Figure 7: Silk soymilk products, 2018
- Strategic M&A rejuvenates Cu Liang Wang’s product lines
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- Figure 8: Silk soymilk products, 2018
- Oatly’s partnership with cafes accelerates oat milk market acceptance
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- Figure 9: Oatly partnership with bluebottle, US, 2018
- Figure 10: Oatly partnership with pacific coffee, China, 2018
Who’s Innovating?
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- US: non-dairy milk made with less additives and fortified nutrients
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- Figure 11: Non-dairy drinks, US, 2018
- Global: non-dairy yogurt alternatives
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- Figure 12: Non-dairy yogurt alternative, 2018
- Sweden: non-dairy ice cream portrayed with same level of indulgence as dairy ice cream
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- Figure 13: Non-dairy oat-based ice cream, 2018
- Japan: beloved trendy ingredients rejuvenate traditional plant-based products
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- Figure 14: Ready-to-eat tofu snacks with flavour varieties, 2018
The Consumer – What You Need to Know
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- Dietary habits shift towards plant-based offerings
- Health concerns trigger behavioural changes
- Divergent beliefs suggest enhancement rather than replacement marketing strategy
Consumption Trends
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- Dietary habits shift to plant-based food and drink
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- Figure 15: Consumption trends, November 2018
- Health-related concerns top other reasons in attracting older males
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- Figure 16: Consumption trends, by gender and age, November 2018
- Twenty-something females consume plant-based foods and dairy
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- Figure 17: Consumption trends, by gender and age, November 2018
Reasons for Having Less Animal-based Foods
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- Health concerns top all reasons for cutting down on animal meat and dairy
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- Figure 18: Reasons for having less animal-based foods, November 2018
- Consumers from different city tiers share similar reasoning
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- Figure 19: Reasons for having less animal-based foods, by city tiers, November 2018
- Females cut back on animal meat consumption for weight management; young males trying not to break the bank
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- Figure 20: Reasons for having less animal-based foods, by age and gender, November 2018
Perception of Health Benefits
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- Plant power most recognised for rich fibre
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- Figure 21: Perception of health benefits, November 2018
- Plant-based food and drink needs to convince uncertain groups
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- Figure 22: Perception of health benefits, by age and gender, November 2018
- More young females are firm believers in plants
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- Figure 23: Perception of health benefits, November 2018
Interests in Plant-based Alternatives
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- Familiarity with product form might be the key to tap into plant-based sector
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- Figure 24: Interest in plant-based alternatives, November 2018
- Regional preferences reflect dietary habits
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- Figure 25: Interest in plant-based alternatives, by city tier, November 2018
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- Figure 26: Interests in plant-based alternatives, by region, November 2018
Venue Selection
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- Plant-based diet is largely associated with ‘lightness’
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- Figure 27: Venue selection, November 2018
- Older males favour Chinese restaurants while females of all ages lean towards light meal restaurants
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- Figure 28: Venue selection, by gender and age, November 2018
Attitudes towards Plant-based Diets
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- Confusion exists towards both plant-based foods and animal meats
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- Figure 29: Attitudes towards plant-based diets, November 2018
- Lower tier cities show stronger belief and interest in plant-based diets
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- Figure 30: Attitudes towards plant-based diets, % of any agree, by city tiers, November 2018
- Perceived nutritional value and cost vary among different city tiers
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- Figure 31: Attitudes towards plant-based diets, % of any agree and neutral, by city tiers, November 2018
Meet the Mintropolitans
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- Mintropolitans enjoy more plant-based and animal meats
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- Figure 32: Consumption trends, plant-based food and drink, by consumer classification, November 2018
- Figure 33: Consumption trends, animal meat and dairy, by consumer classification, November 2018
- Intrigued Mintropolitans crave more trendy plant-based foods
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- Figure 34: Attitudes towards plant-based diets, % of any agree and neutral, by consumer classification, November 2018
Appendix – Methodology and Abbreviations
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- Methodology
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