Impossible Foods Inc, Nestle SA, Beyond Meat Inc have already entered Asia with their plant-based meat products, expecting rising demand for the protein from consumers conscious about health, animal welfare and the environment.
Retail sales of meat substitutes in Asia-Pacific reached $16.3 billion in 2020 and are expected to exceed $20 billion by 2025, according to data provided by Euromonitor to Tyson Foods.
"The Asian market is a natural fit for this category with traditional plant-based products like tofu already entrenched in the culture," Tan Sun, president, Tyson Foods Asia-Pacific, said in a statement.
Tyson Foods, the biggest U.S. producer of animal meat by sales, said on Tuesday it would first roll out plant-based nuggets, strips, and bites in Malaysia under its First Pride brand, with a view to expand into other markets.
The Jimmy Dean sausage maker launched its plant-based products late last year from its Raised & Rooted brand in Europe.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)