Food & Beverage Asia Jun/July 2021

14
MARKET INSIGHTS
Photo credit: ADM
The lunch spread
includes food such as
the spicy otah, which
was made with ADM’s
plant-based fish and
coconut custard
only have to create great tasting products
but are also expected to get as close as
possible to the animal protein equivalent
version,” explained Lim.
As these products continue to develop
and more investment money flow into the
industry, ADM continues to see new and
exciting products emerge. This will enable
more and more consumers to find the
products that match their expectations.
“I can see a future where there are so many
plant-based options on the market that
everyone can find something they like. In
the end, maybe everyone will be more of a
flexitarian,” remarked Lim.
Through ADM Ventures, an advisory firm
focused on digital and hi-tech companies,
the company seeks to create functional
and clean-label ingredient portfolios that
advance the growth strategy of ADM by
both investing in and collaborating with
start-ups that are focused on improving
human and animal health and nutrition.
“ADM Ventures invests in cutting-edge
start-ups with disruptive technologies
across five key areas: human nutrition,
health & wellness or microbiome, animal
nutrition, sustainability and biomaterials,
and agriculture technologies,” explained
Darren Streiler, managing director of ADM
Ventures.
ATTRACTING AND RETAINING
LOCAL CONSUMERS’ TASTE BUDS
The COVID-19 pandemic has also given
rise to the importance of health and
wellbeing as well as the increased
awareness to save the planet from the
climate crisis, which drives the desire to
eat less meat.
“Many markets in Asia are developing
rapidly and the current pandemic has
accelerated this. There are parts of Asia
that are already very developed, and
other countries, such as the Philippines
and Indonesia, have seen increased
purchases online over the past year,” said
Lim.
Additionally, according to AgFunder’s
ASEAN Agrifoodtech Investment
Report 2020, ASEAN (the Association of
Southeast Asian Nations) is one of the
fastest growing regions in the world, and
plays host to a rapidly expanding middle
class that demands more choices when it
comes to food.
In 2020 alone, there was an estimated
two billion Asians of the middle class
and that number is set to increase to 3.5
billion by 2030 2 .
As Asian consumers change their general
lifestyle values, the demand for food
that is nutritious, healthy, safe and more
sustainable continues to grow. In order to
attract and retain consumers’ taste buds
on plant-based ingredients, ADM believes
in delivering both taste and texture.
Lim said: “ADM has been pioneering
plant-based innovations for over 75 years,
so we are able to bring protein and flavour
to create some of the cleanest-tasting
FOOD & BEVERAGE ASIA JUNE / JULY 2021