Indonesia Plant-Based Food And Beverages Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 990 Billion |
| Market Size (2029) | USD 998 Billion |
| CAGR (2024 - 2029) | 5.44 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Indonesia Plant-Based Food And Beverages Market Analysis
The Indonesia Plant-Based Food And Beverages Market size is estimated at USD 990 billion in 2024, and is expected to reach USD 998 billion by 2029, growing at a CAGR of 10.44% during the forecast period (2024-2029).
A rising number of Indonesian consumers are adopting vegan and vegetarian diets. This shift is influenced by the desire to improve health, manage weight, and reduce the risk of chronic diseases such as diabetes and heart conditions. Additionally, lactose intolerance and other dietary allergies have made plant-based alternatives more popular among Indonesians. Plant-based milk like soy milk, almond milk, and coconut milk are some of the popular dairy alternatives among lactose intolerance consumers in the country. In response to the demand, many players are launching dairy-free alternatives. For instance, in 2023, Nutrifood Indonesia launched its new almond milk as a part of expanding its Tropicana Slim plant-based series. The new Tropicana Slim Almond Drink Chocolicious is available in a 190 ml carton.
Over the medium term, the market is expected to record substantial growth owing to factors such as the development of flexitarian lifestyles and R&D investments by key market participants to accelerate new product developments. Further, the environmental impact of meat production and animal welfare issues is driving consumers toward plant-based alternatives. Efforts by animal welfare organizations and government initiatives promoting sustainable and ethical consumption also play a significant role. Moreover, plant-based food is not new in Indonesia, with tofu and tempeh having been in Indonesian cuisine for ages as traditional vegan foods. This promotes the inclination toward the new plant-based foods and beverages.
Indonesia Plant-Based Food And Beverages Market Trends
Meat Substitutes Are Gaining Traction Among Indonesian Consumers
The increasing consumer awareness about the health benefits associated with plant-based food is driving the shift toward meat substitutes in Indonesia. Middle and upper-class urban Indonesians, especially the younger generation, are increasingly adopting healthier diets, thus inclining toward plant-based food and beverage products. Meat substitutes like tofu and tempeh are traditional Indonesian soy-based products that have been part of the local cuisine for centuries, making them a staple in many Indonesian households. Additionally, ethical and health-conscious consumers are driving the penetration of meat substitutes nationwide. Ongoing research on the effects of meat production on climate change and resource usage is a major driver behind the growing consumer demand for plant-based food and drinks. For instance, in 2022, according to Glanbia Nutritionals, approximately 30% of parents in Indonesia included plant-based products in their children’s diets.
Animal welfare associations and government organizations educate the public about animal abuse and promote vegan lifestyles through various campaigns, driving the sales of meat substitutes. For instance, in July 2023, the Indonesian government banned dog and cat slaughter and meat trade sales in response to the campaign conducted by the DMFI (Dog Meat-Free Indonesia), an alliance of international and local animal welfare groups.
Growing Popularity of E-commerce Propelling the Growth
The convenience of online shopping for food and beverages is driving the shift toward e-commerce platforms. Online stores offer a wide range of plant-based foods and beverages, appealing to urban consumers with busy lifestyles who do not have time to access traditional brick-and-mortar retailers. The rise in internet penetration has been a key catalyst for this shift. In 2023, according to Statistics Indonesia, 69.21% of Indonesian consumers used internet. Key players in the market are capitalizing on this trend, offering a wide range of plant-based foods and beverages, including meat alternatives, dairy alternative beverages, non-dairy ice cream, non-dairy cheese, and other plant-based products, like milk powders, through online channels. Online shopping saves time and provides a vast selection of brands and products, along with convenient delivery services.
The user-friendly payment solutions offered by these stores are enticing consumers across the country. In 2022, according to the International Trade Administration, digital wallets were the top choice for 72% of online shoppers, followed by cash on delivery at 57%, mobile banking or internet banking at 39%, and pay later at 19%. Pay later is more commonly used by older generations (millennials and Gen X). This emerging way of shopping, although still relatively small in Indonesia, is anticipated to grow rapidly in the coming years.
Indonesia Plant-Based Food And Beverages Industry Overview
Indonesia's plant-based food and beverage market is fragmented, with many international and regional companies competing for a significant market share. Some of the major players in the market are Green Rebel Foods, Amy's Kitchen Inc., Nestlé SA, Danone SA, and Meatless Kingdom. Product innovation in terms of flavor and texture and infusion of healthy ingredients is the major strategy adopted by companies. Additionally, key players are focused on the expansion of production capacity and innovative product launches to cater to the increasing demand for meat substitutes and dairy alternatives. For instance, in 2023, Kraft Heinz, one of the leading food companies, invested USD 84 million to upgrade its facility in Indonesia to expand its meat alternatives line.
Indonesia Plant-Based Food And Beverages Market Leaders
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Amy’s Kitchen, Inc.
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Green Rebel Foods
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Meatless Kingdom
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Nestlé S.A.
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Danone S.A.
*Disclaimer: Major Players sorted in no particular order
Indonesia Plant-Based Food And Beverages Market News
- November 2023: Heinz ABC launched flavored soy milk drinks in Indonesia to expand its product portfolio. The new soy milk beverages are available in two flavors: Creamy Chocolate and Strawberry Delight. As per the brand's claim, the new products are low in saturated fat and are free from preservatives and artificial sweeteners.
- November 2022: Meatless Kingdom, the mushroom protein company based in Indonesia, introduced its newest offering, Dendeng Manis Asap Plant Based. This innovative plant-based snack is similar to bakkwa, a Chinese dried meat delicacy known for its sweet and savory taste.
- November 2022: Indonesia's Green Rebel Foods entered the plant-based dairy market with the launch of Creamy Crew. The company, a key player in the plant-based protein sector in Southeast Asia, offers a range of plant-based products, including cheese, sauces, and dressings.
Indonesia Plant-Based Food and Beverages Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing Prevalence of Chronic Lifestyle Diseases and Intolerance to Animal Protein
4.1.2 Innovations in Plant Based Food and Beverage Products
4.2 Market Restraints
4.2.1 Differences in Taste and the Authenticity of Flavors
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Meat Substitutes
5.1.1.1 Tofu
5.1.1.2 Tempeh
5.1.1.3 Others
5.1.2 Dairy Alternative Beverages
5.1.2.1 Soy Milk
5.1.2.2 Almond Milk
5.1.2.3 Other Dairy Alternative Beverages
5.1.3 Non-dairy Ice Cream
5.1.4 Non-dairy Cheese
5.1.5 Non-dairy Yogurt
5.1.6 Non-dairy Spreads
5.1.7 Other Plant-based Products
5.2 By Distibution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nestlé SA
6.3.2 Green Rebel Foods
6.3.3 Amy's Kitchen Inc.
6.3.4 Impossible Foods Inc.
6.3.5 Rude Health
6.3.6 Meatless Kingdom
6.3.7 The Kraft Heinz Company
6.3.8 PepsiCo Inc.
6.3.9 Danone SA
6.3.10 Oatside Private Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
Indonesia Plant-Based Food And Beverages Industry Segmentation
Plant-based food and beverages refer to products made from different plant parts such as fruits, seeds, leaves, and legumes. These are mainly preferred as substitutes for animal-based products such as meat, eggs, and dairy products.
The Indonesian plant-based food beverage market is segmented by product type and distribution channel. The market is segmented by product type into meat substitutes, dairy alternative beverages, non-dairy ice cream, non-dairy cheese, non-dairy yogurt, non-dairy spreads, and other plant-based products. By meat substitutes, the market is segmented into tofu, tempeh, and others. By dairy alternative beverages, the market is segmented into soy milk, almond milk, and other types of dairy alternative beverages. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. For each segment, the market sizing and forecasts were made based on the value (USD).
| By Product Type | |||||
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| Non-dairy Ice Cream | |||||
| Non-dairy Cheese | |||||
| Non-dairy Yogurt | |||||
| Non-dairy Spreads | |||||
| Other Plant-based Products |
| By Distibution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
Indonesia Plant-Based Food and Beverages Market Research FAQs
How big is the Indonesia Plant-Based Food And Beverages Market?
The Indonesia Plant-Based Food And Beverages Market size is expected to reach USD 990 billion in 2024 and grow at a CAGR of 5.44% to reach USD 998 billion by 2029.
What is the current Indonesia Plant-Based Food And Beverages Market size?
In 2024, the Indonesia Plant-Based Food And Beverages Market size is expected to reach USD 990 billion.
Who are the key players in Indonesia Plant-Based Food And Beverages Market?
Amy’s Kitchen, Inc., Green Rebel Foods, Meatless Kingdom, Nestlé S.A. and Danone S.A. are the major companies operating in the Indonesia Plant-Based Food And Beverages Market.
What years does this Indonesia Plant-Based Food And Beverages Market cover, and what was the market size in 2023?
In 2023, the Indonesia Plant-Based Food And Beverages Market size was estimated at USD 936.14 billion. The report covers the Indonesia Plant-Based Food And Beverages Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Indonesia Plant-Based Food And Beverages Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Indonesia Plant-Based Food & Beverages Industry Report
Statistics for the 2024 Indonesia Plant-Based Food & Beverages market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Indonesia Plant-Based Food & Beverages analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
