Akansha Pandey (firstname.lastname@example.org)
Slated for launch in Singapore around mid-June 2022, Anew will be the first 100% plant-based food brand by the OTS Holdings Limited. It is born out of a desire to inspire people to make better choices for their health, starting with plant-based foods. The company plans to distribute Anew to Malaysia and the Philippines first, where they have their existing trade offices and distribution network. Beyond these markets, OTS Holdings strongly believes that the product’s offerings will be able to break into the international markets with the right distribution partners. We are currently in talks with several potential customers who are interested in distributing Anew products in their markets, says Ong Bee Chip, Managing Director, OTS Holdings Limited.
According to a report published by the research company – Research and Markets, the global plant-based meat market is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 14.4%, which is 4x the growth rate of the animal-meat market. Globally, this represents a US$35 billion plant-based market opportunity by 2027, up from its market size of US$13.6 billion in 2020.
Likewise, according to abillion (a local vegan food review app supported by the Singapore Government), consumer interest in plant-based pork and chicken products surged 7X in 2020 as compared with the previous year. Euromonitor retail sales report states that “free-from-meat” frozen meat substitutes in Singapore grew by 26.7% between 2019 and 2020, while those of traditional meat grew by just 7.4%.
He goes on to add that adopting plant-based is the first step or the introductory step for consumers who want to gently shift to a healthier and green diet. It is for people who want to be healthier but are not ready to make a dramatic shift yet while veganism is an entire lifestyle rooted in the belief of not harming animals, through any means, including your diet or through lifestyle products and by-products.
“Going plant-based does have plenty of benefits. To list a few, a plant-based lifestyle and diet can help to alleviate food security concerns and contribute to longer-term sustainability for the planet. In addition, a plant-based diet is proven to support and maintain better health,” he states.
The Covid-19 pandemic and the Russia-Ukraine conflict have sparked global food supply issues and have increased consumer awareness of the connection between health and wellness, environment and sustainability. These factors have fuelled the strong growth of the plant-based market and people are starting to make a more conscious effort in their daily choices, especially their diet.
Additionally, for an island nation like Singapore, where natural resources are scarce, the country has to rely heavily on food imports to feed the nation. Global events such as Covid-19 and the Russia-Ukraine conflict and the regional ban of poultries and oil have greatly disrupted the food supply chain ecosystem, posing risks to a resource-scarce land like Singapore.
Chip shares, “In addition, Singapore’s strategic vision to leverage innovation as a means of increasing supply chain resilience, including strengthening food safety and promoting economic growth, has helped build the most technologically advanced network for plant-based protein production in Southeast Asia. An example of how the Singapore government supports the growth of local food manufacturing and plant-based industry is by being the first nation on Earth to grant regulatory approval for the commercial sale of lab-grown/cell-cultivated chicken meat.”
ANEW plant-based luncheon meat is made locally in Singapore and 100% plant-based with no preservatives. It comes in a variety of flavours (Classic, Black Pepper and Barbeque), whereas its competitors carry only limited flavours. It is also non-GMO and trans-fat free. Compared to other plant-based luncheon meat (and animal-based luncheon meat) in the market, ANEW has the lowest fat and calorie (per serving of 85g contains <154kcal), highest in protein and carries a good source of fibre.
Established in 1993, OTS Holdings Limited is a brand builder and food manufacturing group in the consumer industry with a strong niche in ready-to-eat and ready-to-cook meat products with key markets in Singapore and Malaysia.
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