Tyson Foods, Inc. is launching a brand new line of plant-based products in select retail stores and e-Commerce across the Asia Pacific under the brand First Pride.
It is the first time that the firm has introduced plant-based products in Asia, as it functions to earn protein more affordable and accessible to more people worldwide. Tyson Foods is initially launching the products in Malaysia and will roll them out into additional markets in the region in the forthcoming months.
Plant-based products have noticed an increase in popularity throughout the region and have further accelerated throughout the pandemic. Consumers are rethinking their health, with 75% of consumers open to a diet that contains meat and plant proteins.
We are thrilled to offer Asia Pacific consumers more high-quality protein options as they explore flexitarian diets, said Tan Sun, president, Tyson Foods APAC. The Asian market is a natural match for this particular category, with conventional plant-based products such as tofu already entrenched in the culture. The key to meeting consumer tastes with new plant-based protein is making and innovating locally related products that taste good, which is our experience.
Our newest product growth delivers quality and taste, providing customers with a contemporary spin on comfortable flavours, local tastes, and feel. We are specialists in the protein sector using a varied, multi-protein portfolio and can produce great all-natural tasting products.
The initial launch will introduce frozen Bites, Nuggets, and Strips made with plants to consumers in Malaysia. The creations are halal licensed and created out of regionally sourced components such as bamboo fibre, soy protein, and wheat protein.
Option proteins may account for 11% of the worldwide protein market by 2035. According to Euromonitor, while the category in Asia is still rising, APAC retail sales of meat substitutes reached $16.3 billion in 2020 and are predicted to surpass $20 billion by 2025.
We are excited to expand our internal capacities worldwide as we construct our adored plant protein manufacturers portfolio, explained David Ervin, vice president of other protein to Tyson Foods. Our international culinary community and scalability place us nicely to replicate our success from the U.S. at the Asia Pacific and supply consumers with fantastic tasting plant protein choices.
Product flavour and package size availability may vary by country and are priced competitively. Products available in Malaysia can arrive in a 420-gram pack priced at USD 4.81. While the outcomes will initially be functional in retail shops, you can find plans to supply the plant-based innovations for foodservice clients in the area later this season.
We are dedicated to the Asia Pacific. As protein consumption of all types keeps growing in the area, we plan to develop with customers and function as a leader around all of the proteins, explained Tan Sun. Our plant-based product launch will complement our current assets around Thailand, Malaysia, and Australia, where we select merchandise from poultry to steak.