Plant-based protein drives demand for pulses in Asia

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The growing demand for plant-based protein in Asia is fueling opportunities for pulses. Rabobank said that demand for plant-based meat analogues in China, India, and Southeast Asia will grow by a CAGR of 74% from 2021 to 2030. This will drive demand for grain, oilseeds, and pulse proteins as ingredients, which is expected to grow by a CAGR of 72% during the same period. Still, the total volume of plant-based meat analogues in the three regions will remain low (less than 1%) relative to conventional meat consumption, said Rabobank’s Oscar Tjakra and Lief Chiang.