The Edge Singapore Wed, Jun 08, 2022
Foodstuffs producer OTS Holdings plans to tap the growing interest in alternative protein food by launching its own plant-based, ready-to-eat luncheon “meat” line “ANEW”.
Developed by its own in house team, the ANEW line now consists of three flavours and will be sold online and via supermarkets.
OTS managing director Ong Bee Chip (picture, left) observes that increased awareness of environmental and sustainability benefits has been driving plant-based alternatives to become a growing part of consumers’ diet.
Plant-based alternatives can also mitigate concerns of food security, he adds.
“With ANEW, we see an opportunity to participate in the fast-growing plant-based foods market, where we want to be able to meet consumers’ expectations so that they can continue to enjoy their favourite food experience with our plant-based products based on our popular recipes,” says Ong.
OTS shares closed June 8 at 20 cents, down 4.88% for the day and 22% down year to date.