FEEDING A NEW WORLD

With the rising demand for alternative proteins in Asia, local plant-based protein manufacturer Growthwell is ripe for expansion.

Plant-based alternative protein brands like Beyond Meat and Impossible Foods might have taken the Western world by storm in recent years, but Asia has been more reticent in embracing new meat substitutes – even though mock meats have been consumed in East Asia for centuries – partly since most of the imported brands position themselves for Western culinary applications such as burger patties or sausages.

Still, according to market researcher Euromonitor International, the Asia-Pacific alternative protein market is expected to hit US$16 billion (S$22.2 billion) this year.

For Growthwell Group, a Singapore-based manufacturer of plant-based meat and seafood alternatives, this presents plenty of opportunities, thanks to a recent $11.4 million Temasek Holdings-led funding round.

Founded in 1989 by Chou Shih Hsin, a Buddhist vegetarian, it started with the Su Xian Zi brand, a line of soya- and konjac-based meat and seafood alternatives aimed at those with religious dietary restrictions. The company then expanded to include OKK, a line of (left to right) Justin Chou, Chou Shih Hsin, and Colin Chou

02 SNACK TIME

Growthwell’s products have been tailored for local snacking habits – like these soy-based nuggets. products for general consumers.

Today, Chou’s sons, Justin and Colin, run the company as executive director and head of commercial respectively. Aged 31 and 29, they grew up vegetarian because of their Buddhist faith and continued to embrace a plant-based diet in adulthood as a lifestyle choice. It is this experience that has allowed them to experience this shift in attitudes first-hand.

“Growing up in such an environment, you always get the feeling that you’re a bit of an outsider. It’s interesting to see how vegetarianism is on its way to becoming mainstream. There’s still a lot of market potential in this area,” says Colin.

Adds Justin: “In the past, the strongest message out there was how a good, compassionate Buddhist wouldn’t eat meat and that being vegetarian made you holier. But I don’t think that’s message one should craft for the modern consumer.”