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Report
China Plant Protein - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029
Market Report I 2024-02-17 I 222 Pages I Mordor Intelligence
The China Plant Protein Market size is estimated at USD 1.42 billion in 2024, and is expected to reach USD 2.08 billion by 2029, growing at a CAGR of 7.93% during the forecast period (2024-2029).
Heath benefits associated with plant protein drove the application especially in animal feed and F&B sector
- Animal feed was the leading segment, by application, for plant protein in the region, accounting for a major volume share of 52.51%, followed by the food and beverages segment, with a 52.51% volume share, in 2022. Animal feed is also projected to be the fastest-growing segment in the Chinese plant proteins market, with a CAGR of 9.10% by value during the forecast period (2023-2029). Consumer preferences shifting toward these proteins strongly influences manufacturers to innovate products enriched with plant proteins. Product launches have been taking place in the country to cater to the growing demand and meet the increasing needs of customers.
- The demand for proteins in the food and beverage sector is mainly driven by factors such as increasing demand for protein functions and awareness of high-protein diets. In the food and beverage segment, the meat alternative products sub-segment grew by 48.4%, followed by the dairy and dairy alternatives sub-segment (22.4%) in 2020 due to the rising trend of veganism among consumers in the country. The meat/poultry/seafood and meat alternatives sub-segment is expected to register the fastest CAGR of 7.07% within the food and beverage segment, by value, during the forecast period.
- The Chinese plant proteins market witnessed the highest Y-o-Y growth rate of 13.98% by value in 2020. Due to the COVID-19 pandemic, people opted for vegan diets with high nutrition. For instance, more than 200 million people followed a vegan diet in 2020, the highest number from 2016. However, the sales of pea proteins spiked in 2020 due to preferences shifting toward smaller meals and substituting traditional diets with healthier and more convenient options.
China Plant Protein Market Trends
Growing popularity of plant-based meat to support consumption
- Plant-based proteins are increasingly gaining acceptance in China. The awareness of plant-based protein reached 90% in 2021. More than 50% of Chinese consumers get plant-based protein information from domestic news sources, and 48% get it from social media. The usage of various plant proteins in the meat industry is increasing substantially due to the rising consumer acceptance of plant-based meat products in the country. Frequent consumption of processed meat can increase the risk of cardiovascular diseases and cause mortality, thus leading to the growth of the use of plant proteins in the meat industry. On the contrary, a higher intake of whole grains, legumes, and nuts is associated with cardiovascular benefits as they have less saturated fatty acids and dietary cholesterol and more soluble fibers and polyunsaturated fatty acids.
- China's pea protein business is also booming, primarily fueled by the rising demand for pea protein in the global food sector. The per capita consumption of peas in China increased from 60.3 g in 2017 to 68.9 g in 2022. However, unlike in the European Union and the United States, the application sectors of pea protein in China are limited. The majority of pea protein in China is consumed by the healthcare food industry, while applications in the food processing industry are still in the R&D stage.
- Due to rising feed prices, trade tensions, and the COVID-19 outbreak raising uncertainty for international trade in 2021, China's leading hog and feedstock producers were using lesser soybean meal to decrease the country's reliance on the crop. The largest producer of feedstock in China, New Hope Liuhe, was using 10% soybean meal in farm feed as of the end of April 2021 as opposed to 13.2% in 2019 and 12.5% in 2020.
China is estimated to become the world's top wheat producer
- China is the world's largest producer of wheat. Around 126 million metric ton of wheat is produced by the country per year on an area of 24 million ha. Wheat is cultivated extensively in the Yellow River and Huai River Valleys of China, where the crop is rotated with maize. It is more commonly rotated with rice along and around the Yangtze River Valley.
- China is also one of the major rice producers in the world and may continue to dominate global production. China is estimated to become the world's top wheat producer and almost self-sufficient in staple grains by 2025. The US Department of Agriculture's Foreign Services (FAS) estimated that China's wheat production would reach 136 million metric ton in 2021-2022, but wheat production grew by 1.6% to reach 133.59 million metric ton. The China Statistics Bureau stated that more high-quality wheat had been planted nationwide. Government policy plays a vital role in rice production. Domestic market liberalization and self-sufficient rice policies through productivity investments (e.g., R&D, irrigation expansion, and other infrastructure) have been and may continue to be China's major national policies in the rice sector.
- Oats rank 10th among cereals in terms of production, and they are an important fodder crop in the nation, grown in 18 provinces and regions in China. Although there are several wild and cultivated Avena species, the two major types are hexaploid hulled and naked oats (Avena sativa L.). China is one of the major oat-producing countries in the world, with an annual harvested area of 350 000 ha, yielding 465 000 ton, with an average yield of 1.33 ton per ha.
China Plant Protein Industry Overview
The China Plant Protein Market is fragmented, with the top five companies occupying 18.70%. The major players in this market are Archer Daniels Midland Company, Fuji Oil Group, International Flavors & Fragrances Inc., Kerry Group PLC and Wilmar International Ltd (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 INTRODUCTION
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study?
2.3 Research Methodology
3 KEY INDUSTRY TRENDS
3.1 End User Market Volume
3.1.1 Baby Food and Infant Formula
3.1.2 Bakery
3.1.3 Beverages
3.1.4 Breakfast Cereals
3.1.5 Condiments/Sauces
3.1.6 Confectionery
3.1.7 Dairy and Dairy Alternative Products
3.1.8 Elderly Nutrition and Medical Nutrition
3.1.9 Meat/Poultry/Seafood and Meat Alternative Products
3.1.10 RTE/RTC Food Products
3.1.11 Snacks
3.1.12 Sport/Performance Nutrition
3.1.13 Animal Feed
3.1.14 Personal Care and Cosmetics
3.2 Protein Consumption Trends
3.2.1 Plant
3.3 Production Trends
3.3.1 Plant
3.4 Regulatory Framework
3.4.1 China
3.5 Value Chain & Distribution Channel Analysis
4 MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
4.1 Protein Type
4.1.1 Hemp Protein
4.1.2 Pea Protein
4.1.3 Potato Protein
4.1.4 Rice Protein
4.1.5 Soy Protein
4.1.6 Wheat Protein
4.1.7 Other Plant Protein
4.2 End User
4.2.1 Animal Feed
4.2.2 Food and Beverages
4.2.2.1 By Sub End User
4.2.2.1.1 Bakery
4.2.2.1.2 Beverages
4.2.2.1.3 Breakfast Cereals
4.2.2.1.4 Condiments/Sauces
4.2.2.1.5 Confectionery
4.2.2.1.6 Dairy and Dairy Alternative Products
4.2.2.1.7 Meat/Poultry/Seafood and Meat Alternative Products
4.2.2.1.8 RTE/RTC Food Products
4.2.2.1.9 Snacks
4.2.3 Personal Care and Cosmetics
4.2.4 Supplements
4.2.4.1 By Sub End User
4.2.4.1.1 Baby Food and Infant Formula
4.2.4.1.2 Elderly Nutrition and Medical Nutrition
4.2.4.1.3 Sport/Performance Nutrition
5 COMPETITIVE LANDSCAPE
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Landscape
5.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
5.4.1 Archer Daniels Midland Company
5.4.2 Foodchem International Corporation
5.4.3 Fuji Oil Group
5.4.4 International Flavors & Fragrances Inc.
5.4.5 Kerry Group PLC
5.4.6 Roquette Freres
5.4.7 Shandong Jianyuan Bioengineering Co. Ltd
5.4.8 Shandong Qufeng Food Technology Co. Ltd
5.4.9 Shandong Yuwang Industrial Co. Ltd
5.4.10 Wilmar International Ltd
5.4.11 Wuxi Jinnong Biotechnology Co. Ltd
5.4.12 Yantai Shuangta Food Co. Ltd
6 KEY STRATEGIC QUESTIONS FOR PROTEIN INGREDIENTS INDUSTRY CEOS
7 APPENDIX
7.1 Global Overview
7.1.1 Overview
7.1.2 Porter's Five Forces Framework
7.1.3 Global Value Chain Analysis
7.1.4 Market Dynamics (DROs)
7.2 Sources & References
7.3 List of Tables & Figures
7.4 Primary Insights
7.5 Data Pack
7.6 Glossary of Terms
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