Wakao Foods is entering the Singaporean market with Seven plant-based products.
The products will be available in retail stores and popular e-commerce platforms.
Palate Sensations, a leading culinary school in Singapore, will also use Wakao Foods' products.
The plant-based food market in Singapore is rapidly growing at a forecasted CAGR of 16.9% from 2021-2026.
Wakao Foods' products are made with high-quality ingredients and are sustainable and ethical, aligning with the Singaporean market's demand for healthy & guilt-free options.
Wakao Foods is pleased to announce its foray into the Singaporean market. The company will launch seven popular products, including Butter Jack, BBQ Jack, Raw Jack, Continental Burger Patty, Jack Supreme Burger Patty, Hot & Spicy Sausages, and American Herbs Sausages, in the Singapore market. These products will be available at retail stores such as Everyday Vegan Grocer and HoReCa and online on popular e-commerce platforms such as Shopee, Lazada, Amazon Singapore, and Redmart.
Wakao Foods has a reputation for creating plant-based foods that are both delicious and nutritious, and their foray into the Singapore market is an exciting milestone for the company. Wakao Foods' plant-based products are a perfect fit for the Singaporean market, which has seen a surge in demand for plant-based foods in recent years.
"We are thrilled to be bringing our range of delicious and healthy plant-based products to Singapore," said Sairaj Dhond, founder and chief executive officer, Wakao Foods. "Our products have high-quality ingredients, and we believe they will be well-received by the Singaporean market. We are excited to be partnering with Everyday Vegan Grocer, HoReCa, and various e-commerce platforms to make our products easily accessible to consumers across the country."
According to a recent report by ResearchAndMarkets.com, the plant-based food market in Singapore is expected to grow at a CAGR of 16.9% during the forecast period (2021-2026). This growth is driven by increasing health concerns, a rising trend of veganism, and demand for sustainable and ethical food products.
In addition to retail stores and e-commerce platforms, Palate Sensations, a culinary school in Singapore, will also use Wakao Foods' products. The school is known for its innovative and sustainable approach to cooking, and Wakao Foods' products are a natural fit for its philosophy.
VK Vidyarthi, general manager - Agricultural and Processed Food Products Export Development Authority (APEDA), said the vegan sector can benefit small farmers by using jackfruit for companies like Wakao Foods to reduce wastage and create employment. APEDA supports plant-based firms like Wakao through its National Programme on Vegan Products.
GFI India and Deloitte India foresee the Indian plant-based market to hit USD 2.2 Bn by 2030, with a USD 1.1 Bn export potential. Indian plant-based companies can capitalize on the country's agricultural diversity by using locally available raw materials. Astha Gaur, Policy Specialist- Regulatory at GFI India and a member of the Vegan Committee on Export Standards, Guidelines and Promotion for Vegan Food Products said Wakao exemplifies how firms can harness the country's agricultural potential to create formulations suited for global markets.
Sanjay Sethi, executive director, Plant Based Foods Industry Association, said, "India has the potential to lead in plant-based foods. The success of companies like Wakao Foods is a testament. PBFIA supports members such as Wakao Foods as they expand and make plant-based foods more accessible globally. Their foray into Singapore is an example of how Indian brands can leverage the export opportunity to promote growth. We look forward to continuing our support for the entire plant-based foods industry for a sustainable and healthier future."