Halal, sustainable, clean label, plant-based and alternative protein food products were in the spotlight last week, as they are expected to dominate the food industry in the near future, THAIFEX-ANUGA ASIA 2023 revealed.
The biggest regional trade far has just ended with a new record of 51,535 visitors from 111 countries over the five-day event. The business deals made during the fair totalled 39.20 billion baht – 372 million baht at the fair itself and the rest from purchase orders, according to the organizer.
The challenges posed by the COVID-19 pandemic have had a severe impact on the food and beverage industry, and at the THAIFEX-Anuga Asia 2023, it was obvious that particular food products that have a direct link to sustainability and health are showing increasing potential.
The food products in the spotlight at the trade show are as follows:
Halal products: The launch of new Halal products has been a growing trend in all regions during the past five years. Halal products had the highest number of exhibitors at the fair with 386 in total – a sign that these foods are responding to the world’s demand. The halal market has an average annual growth of 20% and it is predicted to grow to 71 trillion baht in 2026.
Halal food has a bright prospect in the world market.
Sustainable products and packaging: From 2018 to 2021, there was a 63% growth in the launch of food and beverage products using sustainable components and packaging. Products utilizing recyclable materials have grown by 20% while products claiming to help conserve water have seen growth of 46%. Similarly, products claiming to reduce carbon emissions have shown growth of 30%, and products that are palm oil-free have experienced significant growth of 35%.
Clean Label: Half of the global population now prefers all-natural and organic foods and is also paying attention to sustainability. Clean-label food has been experiencing a significant growth trend in recent years. The global clean-label food market is reportedly growing at an average annual rate of around 7% to 9%. This rate is driven by increasing consumer demand for transparency, natural ingredients, and healthier food options.
Certified Sustainable seafood gives consumers confidence.
Plant-based food: From 2018 to 2021, there was a significant increase in the introduction of plant-based food and beverage products, which claim to be plant-derived, premium products, and free from animal exploitation. The average annual growth rate during this period was as high as 46%. The global plant-based food market was projected to grow at around 11% to 15% during the period of 2020 to 2027. This indicates a strong and sustained growth trajectory for plant-based products around the globe.
Alternative proteins including edible insects: Two out of three consumers worldwide indicate that they consume alternative protein. Additionally, nearly one in four (or 23%) consume alternative proteins at least once a day. Thailand exported 575 tonnes of processed food containing protein from insects worth US$1.5 million (about 50 billion baht) in 2021. Top-3 export markets include Cambodia (47.80%) , the United States (26.07%) and Japan (12.08%).
Protein from insects enjoys high growth.
By Thai PBS World Feature Desk
