Betagro Public Company Limited (BTG), Thailand's leading integrated food company, through "Betagro Ventures," introduces "Meatly!" a premium plant-based food product, aiming to penetrate the plant-based food market. The company is launching three new menus in response to the Thai food soft power trend: Plant-based Pork Belly with Basil on Rice, Plant-based Pork Belly with Chinese Kale on Rice, and Plant-based Pork Belly with Salt and Chili on Rice. The concept, "Plant-based Meat, Delicious and Healthy," emphasizes familiar flavors with high protein and fiber, zero cholesterol, and a modern image reflecting a health-conscious product made with plant-based protein. A pricing strategy has been laid down to make the product more accessible to consumers, targeting leadership in the ready-to-eat plant-based food market.
Mr. Chayadhorn Taepaisitphongse, Chief Strategy and Innovation Officer of Betagro Public Company Limited (BTG) and Managing Director of Betagro Ventures, revealed that "Betagro Ventures" focuses on spurring innovation across the Betagro ecosystem and operates on three core strategies: (1) Improving consumers access to safe and high-quality food, (2) Developing new sustainable sources of protein, and (3) Creating sustainable agro-industrial-food supply chains.
In the past, Betagro Ventures has developed plant-based food under the Meatly! brand to provide consumers with an alternative to high-quality and safer food products in response to the health and sustainability trends. According to Euromonitor, from 2019 to 2024, the global plant-based food market value has a compound annual growth rate (CAGR) of 10.5%, and it is expected to reach approximately USD 25 billion by 2024. Meanwhile, Krungthai Research Center forecasts that the plant-based food market in Thailand will grow to THB 45 billion by 2024, with a CAGR of 10%, similar to the global market growth rate.
Ms. Voralun Taepaisitpongse, Meatly! Founder in Residence, stated that Meatly!, a premium plant-based food brand, aims to offer a diverse range of products, including ready-to-cook and ready-to-eat meals, covering both Thai and international cuisines. This is to cater to health-conscious consumers who seek variety and convenience, suitable for a busy lifestyle. Recently, they launched three delicious new menu items, highlighting traditional plant-based meat dishes under the concept " Plant-based Meat, Delicious and Healthy," with modern packaging. These include 1) Plant-based Pork Belly with Basil on Rice, 2) Plant-based Pork Belly with Chinese Kale on Rice, and 3) Plant-based Pork Belly Stir-fried with Chili on Rice. These dishes feature plant-based pork belly that closely mimics the taste and aroma of real meat, offering high protein and fiber nutritional benefits.
Meatly! has rolled out a new pricing strategy, setting the price at 59 baht. Additionally, the product is now vegan, making it more accessible to customers and encouraging increased consumption of alternative protein products. The introduction of three new Thai dishes into the market brings the total number of ready-to-cook and ready-to-eat products offered by Meatly! to over 13. Notably, the development of the Plant-based Pork Belly with Basil on Rice, a favorite meal often chosen for daily consumption, is expected to expand the health-conscious customer base. These products are now available at Thailand leading department stores and supermarkets, such as Tops, Lotus, Gourmet Market, and online at Shopee: Meatly! Foods.
"Betagro believes that Meatly! will be a driving force in propelling Betagro's food business into a new era for sustainable long-term growth. We are committed to continuously developing new menus to create delicious and healthy experiences under Betagro's high quality and safety standards. This ensures that consumers have access to new protein sources and helps build a sustainable agro-industrial-food industry supply chain," said Ms. Voralun.