Meat Avatar Co, plant-based alternative startup which is partially owned by Asia’s largest sugar producer, Mitr Phol Group, is stepping up talks with leading restaurant chains to sell its plant-based dishes at their outlets.
Wiphu Loetsuraphibun, Co-founder of Meat Avatar said that the company aims to provide plant-based meat to be used as raw material for each menu, and co-develop menus to be sold at restaurants and modern retail outlets. It is currently in talks with restaurant chains like Iberry Group, Audrey Cafe, Hua Seng Hong, and 3 other leading Thai restaurant chains. It is also talking to popular street food stalls to supply its plant-based food.
Wiphu said, “Covid-19 pandemic has resulted in short of supply of meat. Prices of plant-based meat are competitive against meat prices. Therefore, there is an opportunity for plant-based meat to grow not only because of price competitiveness but also sustainability, environmentally-friendliness and health issues.”
Wiphu hopes that Thai consumers will have easier access to plant-based meat not only from restaurants but also from street food stalls in the future.
With financial and technical backing from Mitr Phol, Meat Avatar will be able to upscale its production, networking and expertise in both domestic and overseas market.
In a related development, Meat Avatar has also recently expanded its plant-based meat product line by launching the ‘Matan’’ brand to be sold via modern retail channels. Meanwhile, food product categories that are in its business pipeline include curry paste, ice cream, confectionery, dairy products, ready-to-eat and canned food.
It also plans to export its plant-based meat to the ASEAN region this year with major target markets being Singapore, Malaysia and Indonesia.
Meat Avatar also expects its sales to reach Bt 100 million (US$3 million) this year, up from just Bt 30 million (US$900,000) in 2021. It expects 70% of its revenue to come from retail business, both for Avatar and Matan.
