In Thailand, Plant-Based Meat is Getting Cheaper & Selling Faster

In Thailand, the demand for plant-based meat is rising as prices become more affordable, and consumers seek alternatives to animal-sourced foods. Between 2021 and 2024, sales of meat and seafood alternatives increased by nearly 30%, with an expected 43% increase by 2029. Despite this growth, processed red meat and poultry sales are also on the rise, which poses environmental and health concerns.

Although plant-based alternatives have better nutritional profiles than processed meats, price parity remains a challenge. Currently, plant proteins are more expensive than fresh meat and traditional plant proteins like tofu, legumes, and nuts. To capitalize on this trend and meet climate targets, Thai meat producers must strive for price parity between meat and plant-based alternatives, as well as diversify their protein portfolio for export markets like Europe.