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China was projected to be

the fastest growing market for vegan products
between 2015 and 2020, with a growth rate of

17.2 percent.

There are different reasons to try plant-based diet: positioning of dairy alternatives has changed considerably
moral, religion, health and fashion. Beyoncé announcing in recent years – and with it the consumption behavior has
her decision to go vegan, Venus Williams still being top changed too.
athlete and not consuming animal products, Natalie As sticking to plant-based diet becomes a lifestyle
Portman following plant-based diet since early child- choice, there are companies who do what they love (non-di-
hood, Ariana Grande promoting healthy living and not ary milk) as a lifestyle project to improve human health
eating anything that ever moved, Moby being a vegan and the state of the planet. Since it was introduced in 1940
since forever; the list can go on and on. The entire ce- by Lo Kwee-seong, Vitasoy has become one of those quint-
lebrity buzz around turning down animal products is just essential Hong Kong brands whose products are caught up
giving dairy alternatives more and more attention. Plant- in the city’s pop culture and collective memory. But Vitasoy
based beverages came a long way from milk substitute is not simply nostalgia. It’s one of a few classic Hong Kong
to a lifestyle product. brands that have managed to become international success-
Plant-based beverages are the new stars of the bever- es without losing touch with their local identity. And it’s
age industry. The growth rate is continuing to climb, with doing well: Vitasoy’s revenue grew 10 percent last year as
experts predicting an increase of 15% per annum by 2020 consumers shunned syrupy soft drinks for those made with
– particularly due to the momentum in regions such as natural ingredients. By the late 1960s, Vitasoy was second
North America, Brazil, China and Thailand. According to only to Coca-Cola in Hong Kong, with a 25 percent share
Statista’s report, China was projected to be the fastest of the soft drink market. Sales grew even further in 1975,
growing market for vegan products between 2015 and 2020, when Vitasoy began packaging its soy milk in tetra-paks,
with a growth rate of 17.2 percent. As of 2016, Asia Pacif- which gave it a shelf life of six months. Health was one
ic held the largest share of vegan consumers globally, with of the motivating factors behind the creation of Vitasoy
approximately nine percent of people following a vegan in 1940: the founder of the company was volunteering
diet in this area. China, the United Arab Emirates and at a Kowloon refugee camp for people fleeing the war in
Australia were forecast to be the fastest growing markets China when he noticed that many of the refugees were
for vegan products between 2015 and 2020. Australia’s suffering from malnutrition. Lo bought a stone grinder,
vegan market was projected to have a growth rate of 9.6 soybeans, sugar and cheesecloth, and began to teach the
percent during the period considered. But South Africa camp’s residents how to make soy milk. What start-
and various European countries are also key con- ed as a volunteer job in a Kowloon refugee camp,
tributors to the significant growth in the segment now has its influence over South East Asia,
of non-dairy beverages derived from plants. Australia and North America, producing not
Market experts attribute this positive trend only soy drinks, but also rice, coconut, almond
primarily to the fact that the image and product and oat milks.

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