Thai food giant CP Foods has launched a new plant-based meat imitation product in an effort to become a leading global supplier of alternative proteins, the company said in a statement on 18 May.
The new brand, “MEAT ZERO,” is produced from plants and is made to feel, taste, and appear like real meat, using the company’s “PLANT-TEC” innovation, according to a press statement.
CP Foods said it believes the new product will attract health-conscious consumers as plant-based meats are becoming more popular globally. It plans to sell it as an affordable, ready-to-eat food and menu option through 7-Eleven, Makro, Lotus, and other modern trade outlets across Thailand. The products will be priced at between THB 35 and THB 45 (USD 1.11 and USD 1.43, EUR 0.91 and EUR 1.17). Other uncooked meat products, including plant-based chicken nuggets, plant-based minced pork, and plant-based crispy pork, will be sold at THB 69 (USD 2.20, EUR 1.80) per product.
The launch of the MEAT ZERO is expected to help CP Foods realizing its goal of becoming a top provider of alternative meat in Asia by 2022 and one of the largest three in the world by 2026, it said. MEAT ZERO will be distributed in Asia this year, and expanded to Europe and the United States in later phases, using CP Foods’ business channels.
CP Foods said it has invested heavily in research and development of alternative meats for more than two years. As a result, its research and development center – in partnership with researchers from the U.S., Japan, Taiwan, as well as food scientists from Chulalongkorn University and Mae Fah Luang University – discovered the PLANT-TEC innovation, a new technology that helps create “the perfect texture, taste, smell and feel of real meat.”
“Consumers have become more health-conscious. Some opt to control food intakes, while others are losing weight. Some avoid meats on birthdays. Others turn to veggie food when they can, better known as flexitarians,” CP Foods CEO Prasit Boondoungprasert said. “Demand for meatless food options has consequently been skyrocketing. However, the options are pricey and quite difficult to find. ‘MEAT ZERO’ is the answer. It is accessible in terms of pricing and marketing channels. We expect to achieve a billion-baht revenue within the next few years.”
