Market Size of asia-pacific protein Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 7.27 Billion |
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Market Size (2029) | USD 9.59 Billion |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.69 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Protein Market Analysis
The Asia-Pacific Protein Market size is estimated at 7.27 billion USD in 2024, and is expected to reach 9.59 billion USD by 2029, growing at a CAGR of 5.69% during the forecast period (2024-2029).
7.27 Billion
Market Size in 2024 (USD)
9.59 Billion
Market Size in 2029 (USD)
5.27 %
CAGR (2017-2023)
5.69 %
CAGR (2024-2029)
Largest Market by Source
60.49 %
value share, Plant, 2023
Immense availability, functionality, vegan protein source, and low price of soy, wheat, and pea have contributed to the country's leading position of plant proteins.
Largest Market by End User
67.66 %
value share, Food and Beverages, 2023
F&B is driven mainly by the meat and beverage sectors. The multifunctionalities of plant protein imparted in these products, as well as rising consumers taste for vegan meals.
Fastest Growing Market by Source
5.96 %
Projected CAGR, Plant, 2024-2029
The surging demand for plant proteins, mainly pea and soy proteins, especially from beverages, snacks, bakery, and meat alternatives, aided in their fastest growth.
Fastest Growing Market by End User
7.58 %
Projected CAGR, Personal Care and Cosmetics, 2024-2029
Protein-enriched skin, body, and hair care products are on the rise. Players offering protein ingredients with distinct concentration as per the need is boosting the segment.
Leading Market Player
4.66 %
market share, Archer Daniels Midland Company, 2021
Archer Daniels Midland Company's leading position is attributed to its healthy snacking trend and its extensive product portfolio of proteins for food and animal nutrition.
Growing demand for animal-free products amid rising veganism is driving the food and beverages segment to grow resulting in the largest market share
- Food and beverage remained the largest protein-consuming sector in the region. Among others, bakery and dairy and meat alternatives remained the major application areas, capturing a 41% volume share of the protein consumed in the region in 2022. Growing demand for animal-free products amid rising veganism attracted greater integration of plants, especially soy proteins, in dairy and meat imitation applications.
- The sector was followed by animal feed that relied on plant proteins for their cost-effective and nutritional attributes. For example, in China, the total output of pork, beef, mutton, and poultry in 2021 was 88.87 million ton, up by 16.3% over the previous year. Asia-Pacific is one of the major cattle-producing regions with the dominance of countries like India and China, where the demand for quality-centric animal feed is growing, further benefitting the market studied. Soy protein is emerging as a high-quality feed ingredient for poultry, livestock, and aquaculture among retailers as it is highly digestible, making a good diet for cattle. Due to the significant share, the application is set to record a major CAGR of 6.02%, by volume, during the forecast period.
- The supplements hold a significant share in the proteins market, majorly sports nutrition sub-segment dominates the market, and it is projected to register a CAGR of 2.65% by value in the forecast period. One of the key elements supporting the growth of the protein market is the expanding popularity of fitness and sports culture, as well as the rising number of sports clubs and training facilities. In India, 54% of people frequently exercised in 2021, and 30% upgraded their fitness routines by utilizing cutting-edge applications and gadgets.
Understand The Key Trends Shaping This Market
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China leads the Asia-Pacific protein market, as a result of increasing demand for protein functionalities and awareness about protein-rich diets.
- By country, the market was led by China in 2022, majorly driven by the food and beverage sector. The demand for proteins in F&B is primarily driven by the increasing demand for protein functionalities and awareness about protein-rich diets. Moreover, in China, companies are making significant investments in rolling out innovative protein-based products in the retail space. For instance, Cargill, Hoafood, and Eat Just expanded their plant-based operations in China during the study period. China is also anticipated to register the fastest growth in the region, with a CAGR of 7.30% during the forecast period.
- The market was closely followed by India, which is being driven by the emerging young population and their demand for high-protein meals. Initiatives such as India Protein Score (IPS) are further boosting protein-related awareness among consumers. Launched in 2020 by LabelBlind and Right To Protein, the IPS highlights protein content in pre-packaged foods to help citizens who choose high-protein products. The immense availability, functionality, vegan protein source, and low price of soy, wheat, and pea have contributed to the country's leading position in plant proteins. Hence, the protein market in India is anticipated to register a CAGR of 5.81% by value during the forecast period.
- In Indonesia, plant-based fast food is becoming more popular, prompted by greater consumer awareness of health, sustainability, and animal welfare, with many food chains across the country adopting the vegan trend. Companies such as Starbucks, Ikea, and Burger King are launching vegan foods, which grows the demand for plant-based proteins in Indonesia. Hence, plant protein in Indonesia is projected to grow and register a CAGR of 3.35% by volume during the forecast period.
