Connect with us

Food

The Next Big Business: Trends Influencing Southeast Asia’s Food Tech Landscape

Published

on

Food Tech
Food Tech: File Image

In a post-pandemic market, as consumers across Southeast Asia (SEA) are reassessing their priorities and habits, new trends have emerged, fundamentally reshaping the way we produce, package, and consume food. From plant-based meat substitutes to sustainable business practices and food tech innovations, the culinary scene is undergoing a transformation.

Let’s delve into some of the major changes and what they mean for the region’s food market. And discuss how businesses can take advantage of these trends by introducing a wide range of innovative and appealing products and services that cater to SEA’s diverse consumer base.

Lucrative Opportunity: Plant-Based Meat

Plant-based meat substitutes, once relegated to the fringes of dietary choices, are now poised to disrupt the region’s food tech landscape. The numbers speak for themselves. Revenue in the meat substitutes market is projected to soar to US$160.30 million by 2024, with a robust growth rate of 11.36% between 2024 and 2029, reveals data from Statista.

Globally, the market for meat substitutes was valued at US$18.78 billion in 2023 and is expected to skyrocket at a CAGR of 42.4% from 2024 to 2030, according to a report by Grand View Research.

The growing awareness among consumers regarding the health benefits of plant-based meat substitutes is driving their rapid adoption. Mock meat or meat

substitutes are typically crafted from plant-based ingredients such as soy protein, wheat gluten, legumes, mushrooms, and jackfruit. These products mimic the taste and texture of real meat while claiming healthier attributes like enhanced nutritive value, higher fiber content, reduced fat levels, and zero cholesterol.

The rising interest in alternative proteins is reflected in the funding landscape, with investors pouring US$562 million into companies in the Asia Pacific region in 2022, marking a 43% increase compared to 2021.

While plant-based meat substitutes are currently not widely available in the region, efforts to expand distribution channels and normalise their presence in fast-food outlets and delivery channels could propel them into the mainstream, unlocking the full potential of this burgeoning market in SEA. A report by Asia Research Engagement projects that by 2060, more than half of the protein produced in Southeast Asia and other Asia-Pacific countries will need to come from alternative sources like plant-based proteins.

Capitalising on Sustainability

Sustainability and ethical sourcing have emerged as key considerations in the food industry, transcending mere trends to become integral components of consumer consciousness. As individuals grow increasingly mindful of the environmental and social impacts of their food choices, businesses are compelled to respond with transparent and ethical practices.

In Southeast Asia, where agricultural sustainability is of vital concern, businesses have a unique opportunity to align with these shifting consumer preferences and carve out a competitive edge.

Thailand, for instance, has been at the forefront of spearheading initiatives to promote sustainable and ethical practices across industries. From government-led policies to innovative technologies. According to a December 2023 survey by Rakuten Insight, about 77% of Thai respondents expressed willingness to pay a premium for sustainable products, while approximately 62% of Thais reported adopting sustainable consumption practices in their product purchases.

By championing the farm-to-table concept and prioritising locally-sourced produce, restaurants can cater to consumers’ growing appetite for eco-friendly dining options. Embracing zero-waste cuisine and implementing energy-efficient practices further solidifies their commitment to sustainability.

Moreover, there has been a concerted effort to reduce plastic waste and adopt more sustainable packaging solutions. From biodegradable materials to reusable

containers, food companies are exploring innovative ways to minimise their ecological footprint.

Food Tech: Transforming Food Production and Delivery

The integration of technology is reshaping every aspect of the culinary landscape across Southeast Asia, from food production to delivery and customer interactions. Artificial Intelligence (AI) is being leveraged to optimise operations such as inventory management, supply chain coordination, and recipe development.

Moreover, modern kitchens equipped with the latest technology are enhancing efficiency, enabling chefs to work more effectively and deliver high-quality dishes to customers.

The Southeast Asia food service market is experiencing rapid growth, with its size estimated at US$192.43 billion in 2024 and projected to reach US$349.05 billion by 2029, at a CAGR of 12.65% during the period under review. Among the various segments, cloud kitchens are expected to witness the fastest growth, with a projected CAGR of about 19% during the forecast period.

The increasing use of food delivery apps in countries like Indonesia, Singapore, and Thailand is changing how people dine out. A report by Mordor Intelligence shows that more consumers are now choosing food delivery services over visiting physical restaurants.

According to Statista, the online food delivery market in Southeast Asia is forecasted to generate revenue of US$ 37.51 billion by 2024, with a projected user penetration rate of 20.4% during the same period.

As we’ve seen, recent years have brought about a notable shift in consumer attitudes toward food and health. However, the pandemic catalysed a surge of new food-tech trends that prioritise health, sustainability, and technology. This shift in consumer preferences opens up opportunities for businesses to succeed in Southeast Asia’s food tech market, where innovation and sustainability are closely intertwined.

Who is Thanit Apipatana:

Thanit Apipatana is a Bangkok-based entrepreneur, investor, and startup advisor with a keen interest in venture building, real estate, F&B, sports and philanthropy. Mr. Apipatana has advised and invested in companies in the region, including Singapore-based proptech startup Mogul.sg and Thai-based Life Below Labs. As a thought leader, Mr. Apipatana shares his insights on entrepreneurship, F&B, education, sports and the social sector.

 

Continue Reading

Food

America’s French Fry King Sounds An Alarm

Published

on

fry

Americans are revolting against McDonald’s and other fast-food establishments. This is harming French fry suppliers like Lamb Weston.

Lamb Weston, North America’s largest manufacturer of french fries and a significant supplier to fast-food chains, restaurants, and grocery stores, is closing a production facility in Washington state. Last week, the company stated that it would lay off almost 400 employees, or 4% of its workforce, and temporarily shut down manufacturing lines in response to falling customer demand.

Lamb Weston (LW) shares have plummeted 35% this year.

fry

America’s French Fry King Sounds An Alarm

The potato giant is oversupplied at a time when demand is low. In recent years, restaurant prices have risen faster than grocery store prices, prompting shoppers to avoid fast-food establishments.

This move has had an impact on Lamb Weston because individuals are less inclined to prepare French fries at home. According to Lamb Weston, fast-food restaurants account for around 80% of all french fries consumed in the United States.

Fast-food restaurants, such as McDonald’s, are offering bargain menus to entice customers back. McDonald’s has introduced a $5 meal that contains a McDouble cheeseburger or a McChicken sandwich, small french fries, four chicken nuggets, and a small soft drink. However, these promotions are not benefiting Lamb Weston because customers are purchasing fewer portions of fries.

“Many of these promotional meal deals have consumers trading down from a medium fry to a small fry,” Lamb Weston CEO Thomas Werner stated during an earnings call last week.

Lamb Weston did not immediately reply to CNN’s request for comment.

McDonald’s, Lamb Weston’s largest customer, accounts for 13% of revenue. As McDonald’s goes, so does Lamb Weston.

fry

America’s French Fry King Sounds An Alarm

And McDonald’s is struggling. Sales at US restaurants open at least a year declined 0.7% last quarter compared to the same period a year ago, dragged down by fewer consumers visiting the brand.

Lamb Weston is also heavily exposed to other fast-food companies, according to analyst R.J. Hottovy of analytics firm Placer.ai, in a research note to clients last week.

Customer traffic to fast-food restaurants fell 2% last quarter and 3% the prior quarter compared to the same period last year, according to Lamb Weston.

SOURCE | CNN

Continue Reading

Food

Logan Paul And MrBeast Have A Lunchables Competitor That They Say Is Healthy

Published

on

lunchables

YouTube’s top stars have launched their competitor to Lunchables.

MrBeast, Logan Paul, and KSI are collaborating on a “groundbreaking new better-for-you lunch option” called Lunchly, combining all their goods into a single meal geared at their younger fans.

The all-in-one meal includes a bottle of Prime Hydration, a sports drink alternative founded by Paul and KSI that has grown in popularity; a Feastables milk chocolate bar created by MrBeast, a popular YouTube star with over 300 million subscribers; and one of three processed food options, including pizza, nachos, or turkey aand cheese with crackers.

lunchables

Logan Paul And MrBeast Have A Lunchables Competitor That They Say Is Healthy

“Our ultimate goal has always been to offer not only high-quality products, but also healthier alternatives,” Lunchly cofounder Logan Paul stated in a press release. He also stated that the school lunch industry has been “dominated by Lunchables” since he was a child, and that it is “time to provide a better option for those looking for a convenient, healthier choice.”

Lunchly promises to be “healthier” since Prime contains more electrolytes than a Capri Sun in Lunchables, and Mr. Beast’s chocolate bar contains less sugar than a Kit Kat or Crunch bar.

Lunchly’s launch comes after Lunchable, owned by Kraft Heinz, announced a huge initiative last year to participate in school lunch programs. However, the company had to reformulate the components first to guarantee that the items met regulatory rules, which included incorporating fresh fruit into their meals.

Consumer Reports reported in 2024 that it recently studied the nutritional profiles of two Lunchables kits supplied in schools and discovered that they contain significantly more sodium than the Lunchables kits available in stores.

Logan Paul And MrBeast Have A Lunchables Competitor That They Say Is Healthy

Of course, KSI, Paul, and MrBeast know how to create brands, thanks partly to their devoted following. Despite government worries about the caffeine content of some of its drinks, Prime sales have risen, threatening industry leaders such as Gatorade and BodyArmor.

“Prime brings a youthful buying cohort that hasn’t had a lot pitched their way beyond traditional kids’ drinks,” Jeffrey Klineman, editor-in-chief of BevNet, previously told CNN. “Paul is significantly more intriguing to a 13-year-old than a juice box.”

SOURCE | CNN

Continue Reading

Food

Beyond Soups and Stews: Unexpected Ways to Utilize Your 5 Litre Pressure Cooker

Published

on

Beyond Soups and Stews: Unexpected Ways to Utilize Your 5 Litre Pressure Cooker

Pressure cookers are very popular cooking utensils for preparing soups, stews, and tenderising meats in quick time. However, their versatility and uses go far beyond these traditional uses.

If you’re trying to use your 5 litre pressure cooker differently, you are at the right place, as we are going to explore unexpected and creative ways to use this essential kitchen utensil.

Infused oils and extract

You can use your pressure cooker to prepare infused oils and extracts. To do that, you have to put the herbs, spices, or citrus peels in a jar filled with oil or alcohol. Then, seal the jar and cook under low pressure for a short time to infuse the flavours uniformly.

By this method, you can extract intense flavours in a quick time as compared to what it takes through traditional infusion methods. You can also experiment with combinations like rosemary-infused olive oil or vanilla extract for baking.

Artisanal Curd Making

You can use your pressure cooker to prepare yoghurt. To do that you have to heat the milk to a proper and specific temperature, and then cool it down before adding yoghurt culture. After that, keep the mixture in jars, seal, and ferment in the pressure cooker with the use of the yoghurt setting. And yes, after that, you will have creamy, homemade yoghurt at a much lower cost than store-bought varieties. You can add up your yoghurt, various flavours and toppings for a healthy breakfast or snack option.

Quick pickling

You can also prepare quick pickles using your pressure cooker. For doing that combine the ingredients such as vinegar, water, salt, and your choice of vegetables or fruits in the cooker.

Now, after that, cook under pressure for a few minutes to infuse the flavours rapidly.

Once it is done and cooled, your quick pickles will be ready to eat and enjoy, giving a taste of tangy flavour to sandwiches, salads, or charcuterie boards. You can do this using different spices and herbs to prepare unique flavour profiles for your pickles.

Steaming vegetables and seafood

You can use your pressure cooker’s steaming capabilities to cook vegetables and seafood very easily and quickly. To do that, you have to place a steamer basket inside the cooker, add water, and put your ingredients.

Then, after that, cook under pressure for a few minutes to keep the nutrients intact and also get the perfect tenderness. From crisp-tender asparagus to succulent shrimp, the possibilities of preparing the dishes are many. You can add different flavours using aromatic herbs, spices, and citrus zest.

Homemade bread and desserts

You can amaze your family with freshly baked bread and delicious desserts that can easily be prepared in your pressure cooker. To do that, use the cooker as a makeshift oven by placing a trivet inside and also adding water to it.

After that, you have to place your bread dough or dessert batter in a heat-proof container, cover it, and then cook under low pressure. In very little time, you will get tender bread or delicious desserts without even messing up the kitchen. You can also try various other recipes like chocolate lava cake or savoury herb bread for a delightful treat.

One-pot pasta dishes

You can easily prepare one-pot pasta dishes that are cooked perfectly in your pressure cooker. To do that you have to combine pasta, sauce, vegetables, and protein in the cooker, and also remember to check and put enough liquid for cooking. Then, seal and cook under pressure for a few minutes. This will allow the flavours to get mixed beautifully.

And with this, from classic spaghetti marinara to creamy Alfredo, your pressure cooker can do it all. You can enhance your pasta with your favourite ingredients and garnishes.

Conclusion on a pressure cooker

Cooking indeed is a creative method. Do justice to your creative culinary spirit with your 5-litre pressure cooker. Bake bread, make homemade yoghurt, and make several main dishes as well as side dishes using a wide pressure cooker.

Impress everyone and yourself! Make the best out of your culinary instincts.

SEE ALSO: The Ultimate Guide to Choosing the Perfect LED Bathroom Mirror

Post Disclaimer

The above article is sponsored content any opinions expressed in this article are those of the author and not necessarily reflect the views of CTN News- Chiang Rai Times. For detailed information about sponsored content policy click here.

Continue Reading

Trending