Vegan Street Snacks Reach 50% Purchase Rate - Night Economy Emerges as a Key Opportunity for Promoting Plant-Based Foods in Hong Kong.

HONG KONG SAR - Media OutReach - 9 October 2023 - Kantar, the world's leading marketing data and analytics company, today releases its Hong Kong's Plant-based Food Market report, revealing 74% of consumers choose plant-based foods for health reasons, and they pay great attention to nutrition and food safety when making dietary choices. Labels including additives-free, traceability and natural can increase consumers' willingness to purchase vegan products.
According to the report, over 90% of consumers expressed interest in considering vegan seafood in the future, while only 10% have purchased this kind of product in the past three months. The increasing interest is amplified by recent concerns over the safety of seafood consumption due to Japan's discharge of treated radioactive water. The report suggests that the industry should capitalize on this trend and develop unique vegan seafood products and dishes.
In the government's recent promotion of the night economy, street food plays a crucial role. However, most street food in night markets are high in calories and low in nutritional value, easily leading to weight gain and health issues. Given that maintaining health is a primary reason for choosing plant-based food, the industry could consider offering healthy and low-calorie vegan alternatives at night. The report shows that 94% of consumers are willing to try vegan ready-made meals and snacks, including vegan versions of popular street foods like hamburgers, deep-fried spring rolls/prawn crackers, siu mai, fish balls, and fried chicken nuggets and so on.
Kantar's study explores Hong Kong citizens' opinions on the nutrition, taste and product labels of plant-based foods. The goal is to understand the information that needs to be emphasized, as well as the barriers that need to be overcome for plant-based foods to become part of consumers' daily diet.
Other key findings include:
· Major factors that deter consumers from choosing plant-based foods include high prices (53%), dislike for their taste and texture (32%) and difficulty finding them in the market (23%). To address these concerns, it is recommended that fast-food restaurants and Hong Kong-style cafes, known for their convenience and affordability, promote plant-based dishes.
· The industry can explore the possibility of introducing options which cater to various dining scenarios. For example, considering office workers' preferences, there is potential for launching vegan cheese sandwiches and vegan satay beef noodles as breakfast options. According to the report, 25% and 23% individuals are willing to try the vegan versions of these dishes respectively.
Jeff Tsui, Managing Director of Kantar Profiles' division, Greater China, commented:
"A growing emphasis on health is driving the evolution of plant-based trend locally. The recently published Hong Kong's Plant-based Food Market report provides actionable insights for the catering industry, suggesting that diversifying plant-based food choices to accommodate different dining scenarios would be an intriguing strategy to attract busy urban dwellers. Notably, Hong Kong's dining culture is a blend of Chinese and Western influences, with cha chaan tengs (Hong Kong-style cafes) having played a prominent role in shaping the food trend. Despite the rising popularity of cross-border consumption, there remains an opportunity for innovative plant-based dishes that incorporate local flavors to spearhead a fresh wave of healthy eating."
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