PHUTURE FOOD PARTNERS F&B OUTLETS TO EXPAND PLANT-BASED PROTEIN

KUALA LUMPUR, March 22 (Bernama) -- Plant-based food producer and supplier Phuture Food will be collaborating with food and beverage (F&B) brands Coffee Bean & Tea Leaf and Oldtown White Coffee  to expand the brand’s recognition this Ramadhan.

Phuture manufactures and supplies a range of alternative, ready-to-cook proteins such as High Fibre Chick'n, Invincible Mince, Burger Patties Super Gourmet and the High Fiber Chick'n Breast Nuggets.

In a statement today, chief executive officer Jack Yap said he saw an increasing demand for plant-based foods from leading F&B companies.

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"There is an obvious increase in market demand spurred by heightened global issues such as food security and sustainability, changing trend of consumers to veganism, and a continued decline in the cost of plant-based foods,” he said. 

According to a Bloomberg report, the plant-based food market could make up to 7.7 per cent of the global protein market by 2030 with a value of over US$162 billion, up from US$29.4 billion in 2020 (US$1: RM4.47).

The report said that global restaurant chains, plant-based market leaders and health and sustainability benefits will drive long-term adoption of alternative food options.

Currently, Yap said Phuture products are available at 800 F&B retail outlets in Southeast Asia.

“Interest in neighbouring countries is driving the expansion of our production capacity. With the current momentum we project that our products will be available in a minimum of 2,000 outlets across Southeast Asia by the end of this year,” he said.

-- BERNAMA