Indonesia Plant-Based Food And Beverages Market Size (2024 - 2029)

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 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).