Food Trends meeting surveys Asia’s market outlook
How much more animal protein will Asian people consume in future? What type of animal protein will they prefer? Where will they buy it? Who will supply it? Some highly detailed answers to these questions were proposed at VIV Asia 2019, in a landmark conference session called Asian Food & Tech Trends.
Step forward Ben Santoso, based in Singapore as Senior Analyst of South-East Asia’s animal protein markets for Rabobank International. Ben is also Executive Director of Rabobank Singapore, regional home of RaboResearch Food & Agribusiness. The following summarises his answers in brief:
How much more animal protein will Asian people consume in future? Looking at meat, each of the key national protein markets in Asia is forecast to eat more poultry/pork/beef in 2025 than in 2019 due to rising incomes. Malaysia leads the way regionally at present on total meat+fish consumed per person/year. Indonesia’s meat demand growth could average 6% per year in the 2019-2025 period, India around 4%, Vietnam 3%, Philippines 2%, Thailand between 1-2%, Malaysia and China up to 1% per year.
What type of protein will they prefer? Globally, poultry meat has surpassed pork to be the most consumed protein. By 2025 the gap between them will be even wider, driven by Asia. China is the largest single market by volume, of course, and there we see per-person consumption of poultry meat and seafood increasing even as the national average for all meats trends downward. Vietnam looks likely to follow China’s pattern, with a 3% per year increase in poultry meat uptake in 2019-2025 compared with 2% for pork.
The shift to poultry is true generally for all South-East Asia and India. Sample data presented by Ben Santoso comparing the 2025 and 2019 forecasts showed the annual average poultry meat demand per person growing by 7% for...
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