Consumption of meat and seafood in Asia will rise by 78 percent by 2050, according to new research by Singapore-based consultancy Asia Research & Engagement.
The research, which was commissioned by the ADM Capital Foundation, found that consumption will rise 33 percent by 2030 on the continent due to rising incomes and urbanization.
As nations across the region become more prosperous, China’s share of overall meat and seafood consumption in Asia will slide from the current 70 percent to 50 percent in 2050, according to the research, which also predicts increased cross-border mergers and acquisitions amongst companies based in Asian nations as a means to secure food resources.
Countries set for large population growth – the Philippines, Thailand, and Vietnam – will be drivers of consumption. One surprising prediction coming from the research is that consumption in Indonesia is set to exceed consumption in India by 2030. Despite India having five times the population, higher consumption in Indonesia will occur due to stronger GDP growth. Consumption of meat and seafood is predicted to triple in Indonesia between 2018 and 2050, compared to a 60 percent increase in India.
It’s a different story in the region’s wealthier nations, as fish consumption is down in Japan from 70 percent of overall animal-based protein in 1965 to 38 percent in 2014. Meat consumption in Taiwan, meanwhile, has been falling, largely on health grounds, according to the research report.
