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Food & Beverage

Temasek weighs more ASEAN plant-based food factories

After Singapore, state investor eyes Thailand, Indonesia to capture growing demand

Demand for meat substitutes is growing in Asia, as environmental concerns over traditional farming push more consumers toward plant-based alternatives. (Source photos by Dylan Loh)

SINGAPORE -- Singapore state investor Temasek is weighing on opening more factories in Southeast Asia to produce plant-based food after it launched its first in the city state through its joint venture Cremer Sustainable Foods on Wednesday.

Thailand, Vietnam, Malaysia and Indonesia are potential markets in the 10-member Association of Southeast Asian Nations where it could set up new factories as demand for meat substitutes grows in the region, said Mathys Boeren, CEO of Temasek's wholly owned Asia Sustainable Foods Platform, at the opening of the Singapore plant.

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