Every year on Oct 1, World Vegetarian Day is celebrated to raise awareness of the ethical, environmental, health and humanitarian benefits of a vegetarian diet. Awareness of this special day may be low among Thais, but their growing interest in healthy eating, combined with new innovations, is making plant-based meats less of a niche choice.
According to a study conducted by Marketbuzzz among 1,000 Thais in August 2022, 68% claim they include meat in their regular diets, but almost one-third claim to eat alternative diets, primarily vegetables (14% vegan, 7% flexitarian, 6% vegetarian and 4% pescetarian).
In terms of future consumption, the intention to cut down on meat is high, with 65% of Thais claiming they intend to eat less meat in the future. This is especially so for women and those aged 45 years or older.
The main motivations are wanting to improve their overall health (41%), or specifically to reduce cholesterol/blood fat due to risk of a stroke or heart disease (29%), reduce digestive problems (29%), or to lose weight (19%). In addition to health-related reasons, 19% of Thais also think eating less meat helps protect more animals' lives.
"The Covid-19 pandemic has no doubt heightened global health consciousness, and this has added a new wave of plant-based alternatives to meat and dairy foods," said Marketbuzzz chief executive Grant Bertoli.
"This is one of the biggest trends in recent times and it is clear that health-related priorities are likely to become one of the most influential factors driving plant-based meat sales. Thailand is not an exception as many new brands have entered the market to capture share in this expanding industry during the past few years."
The survey shows that while two-thirds of Thais are aware of plant-based meat, just over one-third claim they are knowledgeable about the product. This is a similar number to those who have tried plant-based meat products, although most is coming from vegetarians (89%) and vegans (60%) as well as younger consumers aged 15-24 (52%).
People feel plant-based meat contains high nutritional value, which is a main reason why they eat it (30%). Other reasons include health benefits (29%), as well as the perception of being trendy (24%), good taste (23%) and ease of preparation (22%).
Given the trend towards reducing meat consumption, many brands and products have entered the market with new plant-based options. There is currently no dominant player in the Thai market, with consumption share comparatively similar across many brands. At this point, Meat Zero, OMG Meat, First Pride and Let's Plant Meat are the most popular brands.
When asked about type of product they wish to buy, fish or shrimp are more popular, while ready-to-eat meals like rice or spaghetti, either chilled or frozen, are on top of Thai shoppers' lists. Other menu items include chicken breast, sausage, fish tofu, ground pork or beef, meatballs and crispy pork.
Mr Bertoli said there are opportunities for players in the plant-based meat market, but it is critical that they develop products that can directly replace normal meat components in Thai dishes.
The most significant barriers to increasing plant-based consumption are the difficulty in finding stores that sell the products (35%) and high prices (34%).
In light of the expected uptick in demand, brands and retailers will have to look at increasing distribution to ensure plant-based products are easy to find and available, he said.
Marketing is also critical to promote the range of plant-based dishes as tasty and healthy alternatives.
"Despite the higher price of alternative protein sources, consumers are willing to pay more due to the health benefits," said Mr Bertoli.
"The question is how much. If it is an 'affordable' premium, then it is expected to boost consumption -- most Thai consumers are willing to pay a 5-10% premium for plant-based alternatives to conventional meat."
The promise of plant-based meat alternatives in lessening the health impacts of meat consumption ultimately depends on market acceptance and the extent to which they displace meat in consumers' diets, he said.
Increasing brand awareness and retailer visibility for plant-based products with the right price point will underpin growth as the popularity of plant-based alternatives continues to gather momentum, said Mr Bertoli.