Tyson Foods Debuts New Plant-Based Products, First Pride™ Brand in Asia Pacific
June 01 2021 - 6:30PM
Tyson Foods, Inc. (NYSE: TSN) is launching a new line of
plant-based products in select retail markets and e-Commerce across
Asia Pacific under the brand, First Pride™.
This is the first time the company has introduced plant-based
products in Asia, as it works to make protein more accessible and
affordable for more people around the world. Tyson Foods is
initially launching the products in Malaysia and will roll them out
to other markets in the region in the coming months.
Plant-based options have seen a rise in popularity across the
region in recent years and have further accelerated during the
pandemic. Consumers are rethinking their health and wellbeing with
75% of consumers open to a diet that includes meat and plant
proteins1.
“We’re thrilled to offer Asia Pacific consumers more
high-quality protein choices as they explore flexitarian diets,”
said Tan Sun, president, Tyson Foods APAC. “The Asian market is a
natural fit for this category with traditional plant-based products
like tofu already entrenched in the culture. The key to meeting
consumer preferences with new plant-based protein is through
innovation and making locally relevant products that taste great,
which is our expertise.
“Our new product expansion delivers on taste and quality, giving
consumers a modern take on familiar tastes, local flavors and
texture," he said. “We’re experts in the protein industry with a
diverse, multi-protein portfolio and have the capabilities to
produce great tasting plant-based products.”
The initial launch will introduce frozen Bites,
Nuggets and Strips made
with plants to consumers in Malaysia. The innovations are
halal certified and made with regionally sourced ingredients
including bamboo fibre, soy protein and wheat protein.
Alternative proteins could account for 11% of
the global protein market by 20352. While the category in Asia is
still growing, APAC retail sales of meat substitutes reached $16.3
billion in 2020 and are expected to exceed $20 billion by 2025,
according to Euromonitor.
“We’re excited to expand our internal capabilities globally as
we build our portfolio of loved plant protein brands,” said David
Ervin, vice president of alternative protein for Tyson Foods. “Our
global culinary network and scalability positions us well to
replicate the success we’ve had in the U.S. in Asia Pacific
and provide consumers with great tasting plant protein
options.”
Product flavor and package size availability will vary by
country and priced competitively. Products available in Malaysia
will come in 420g bags priced at RM19.90 ($4.81 USD). While the
products will initially be available in retail stores, there are
plans to offer the plant-based innovations for foodservice
customers in the region later this year.
“We’re committed to Asia Pacific and as protein consumption of
all kinds continue to grow in the region, we intend to grow with
consumers and be the leader across all proteins,” said Tan Sun.
“Our plant-based launch will complement our existing assets across
Thailand, Malaysia and Australia where we offer a range of products
from poultry to beef.”
About First Pride
The First Pride™ brand is a household name in Malaysia and has
provided innovative frozen chicken, beef, and fish products to
consumers for nearly 15 years. Found on top shelves in all major
hypermarkets, the brand prides itself on consistently providing
premium quality products. All First Pride™ products are halal
certified. Visit TYSONFOODS.COM.MY to learn more.
About Tyson FoodsTyson Foods, Inc. (NYSE: TSN)
is one of the world’s largest food companies and a recognized
leader in protein. Founded in 1935 by John W. Tyson and grown under
three generations of family leadership, the company has a broad
portfolio of products and brands like Tyson®, Jimmy Dean®,
Hillshire Farm®, Ball Park®, Wright®, Aidells®,
ibp®, and State Fair®. Tyson Foods innovates continually
to make protein more sustainable, tailor food for everywhere it’s
available and raise the world’s expectations for how much good food
can do. Headquartered in Springdale, Arkansas, the company has
139,000 team members. Through its Core Values, Tyson Foods strives
to operate with integrity, create value for its shareholders,
customers, communities and team members and serve as a steward of
the animals, land and environment entrusted to it.
Visit TYSONFOODS.COM to learn more.
Media Contact: HLI YANG, +1-479-290-2122
Category: IR, Newsroom
1 Consumer Insights, Good Food Institute2 Alternative-Protein
Market to Reach at Least $290 Billion by 2035, Boston Consulting
Group. March 2021
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fa28cccb-d828-47de-b593-a8017077946a
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