Asia’s Key Role in Supplying Plant-Based Ingredients to Europe

In recent years, European consumers have increasingly sought healthier snacks that include ingredients, such as nuts, mushrooms and jackfruit as plant-based substitutes for meat. According to the Good Food Institute (GFI) Europe's examination of NielsenIQ retail sales data for 13 European countries, plant-based food sales increased by 6% year-on-year (YoY) in 2022 and 21% between 2020 and 2022, reaching EUR 5.8 billion. Germany is Europe's largest vegan market, while the Dutch consume the most plant-based cuisine per capita. As Europe’s demand for plant-based products continues to grow, the role of Asia as a supplier of key ingredients is becoming more significant.

The Rising Demand for Nuts and Nut-Based Products

Nut pastes, a processed derivative, have become a popular ingredient in different foods, including almond milk, plant-based desserts, yogurts, ice creams, and spreads. Consequently, The global nuts market size was estimated at USD 62.85 billion in 2023 and it is anticipated to reach around USD 107.16 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.52% during the forecast period 2024 to 2033, according to the Precedence research.

As demand for these products rises, Asia, with its abundant nut production, is positioning itself as a vital supplier for Europe’s burgeoning plant-based food sector. Countries like Indonesia are introducing nuts, such as Kenari, which is relatively new to the European market but is quickly gaining popularity due to its versatility and nutritional value.

Kenari nuts are harvested from wild Kenari trees native to Eastern Indonesia, and they have organic certification and are a sustainable way of production. High in healthy fats, protein, and antioxidants, Kenari nuts provide customers with a nutritious and unique snack alternative. Key points attracting European consumers are sustainability, plant-based appeal, uniqueness and versatility.

Figure 1: Indonesian Nut Products

Source: Nungesser

Innovative Plant-Based Protein Sources

According to Statista, there were approximately 6.62 million vegans in Europe in 2023. Over the next decade, the number is expected to increase to around 8.25 million. As a result, European food producers constantly innovate with plant-based proteins to cater to the growing demand for vegan and vegetarian products.

Plant-based proteins are being imported, produced, and consumed throughout Europe at a higher rate. Pea protein is the most popular plant protein ingredient, followed by soy protein. Fava bean, vegetable, wheat, and seed protein are some of the most rapidly expanding plant protein ingredients.

Many of these ingredients, such as beans and legumes, are sourced from Asian countries. Additionally, plant-based meat alternatives, such as those made from fava beans, are increasingly in demand as Europe seeks diverse protein sources. A notable example is Thryve’s 100% plant-based meat products, developed through a joint venture in the Gulf Cooperation Council (GCC) region by the fast-moving consumer goods conglomerate IFFCO Group. Thryve will introduce a range of plant-based meat alternatives that prioritize taste, nutrition, and local culinary traditions.

Figure 2: Thryve 100% Plant Based Meat

Source: Bright Green Partners

Mushrooms: A Growing Meat Substitute

Mushrooms are another critical plant-based ingredient gaining popularity as a substitute for meat in European markets. The ability of mushrooms to mimic the texture of meat and their umami flavor has made them a favorite among consumers looking for plant-based alternatives. Asian countries are significant exporters of mushrooms to Europe, where they are used in innovative products such as the Vegan Crispy Mushroom Chili Sauce, which replaces meat with mushrooms. Mushrooms contain low calories while rich in vitamins, minerals, antioxidants, and fiber, making them appealing to health-conscious consumers. As European consumers turn to plant-based alternatives and healthier food options, mushrooms and mushroom value-added products like Man Fook's Crispy Mushroom Chili align perfectly with evolving market preferences. Price per bottle is GBP 14 (USD 18.72) at UK’s online retailers like Halal Street, placing it on the premium side. Other comparable chili sauces and condiments typically range from USD 5 to USD 15 per bottle, depending on the brand and quality.

Figure 3: Crispy Mushroom Chili by Man Fook

Source: Man Fook

Jackfruit: A Standout Example of Asian Export Success

One of the standout examples of Asia’s role in supplying innovative plant-based products is the rise of jackfruit as a meat substitute. Often imported as frozen or brined in cans, jackfruit is used in various European plant-based dishes. Its neutral taste and ability to absorb seasonings make it a popular ingredient in vegan meals. The success of companies like Indonesia’s Ceylon Plant Food Private Limited, which exports canned young jackfruit to Europe, demonstrates the growing demand for plant-based meat alternatives sourced from Asia. Priced at EUR 29.34 (USD 32.75) per six cans (550 g each) on Amazon Germany, it has an average 3.6 ratings (out of 5), and various sustainability features certified by Fairtrade international. Compared to similar products, the price of USD 32.75 suggests a focus on higher quality ingredients catering to consumers willing to pay more for gourmet or specialty items.

Figure 4: Young Jackfruit in Can Plant Meat Alternative

Source: Amazon

Opportunities for Asia’s Agricultural Sector

According to the Good Food Institute (GFI) Europe's examination of NielsenIQ retail sales data for 13 European countries, plant-based food sales increased by 6% year-on-year (YoY) in 2022 and 21% between 2020 and 2022, reaching EUR 5.8 billion. Germany is Europe's largest vegan market, while the Dutch consume the most plant-based cuisine per capita. As Europe’s demand for plant-based products continues to grow, the role of Asia as a supplier of key ingredients is becoming more significant.

Asian countries, with their rich biodiversity and growing agricultural sectors, are well-positioned to meet this demand, supplying nuts, beans, mushrooms, jackfruit, and other innovative ingredients that are essential to Europe’s expanding plant-based food industry. This trend offers vast opportunities for Asian exporters, particularly those focused on sustainable and innovative food solutions. The rise of plant-based diets in Europe is reshaping consumer preferences and forging stronger trade connections between Asia and Europe, driven by shared goals of sustainability, health, and innovation.