China Plant-based Food and Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

China Plant-Based Food and Beverages market is segmented by Product Type ( Meat Substitutes, Dairy Alternative Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, and Non-dairy Spreads) and by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Retail Channels, and Other Distribution Channels). The report offers market size and forecasts in value (USD million) for the above segments.

China Plant-based Food & Beverages Industry Overview

China Plant-based Food and Beverages Market
Study Period: 2018 - 2028
CAGR: 5.11 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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China Plant-based Food & Beverages Market Analysis

The China Plant-Based Food and Beverages market is projected to register a CAGR of 5.11% during the forecast period (2022 - 2027).

During the initial wave of business and community shutdowns, plant-based products were in high demand online, with e-commerce prices and out-of-stock levels increasing as more shoppers shifted from brick-and-mortar retailers due to COVID-19. A major issue was the disruption of supply chains, including meat and dairy alternatives, as, during the lockdown, many countries including China had closed their borders or raised trade barriers. However, these shutdowns gave the players in the market to restrategize and take advantage of the gaps that were created in the supply chain. For example, In August 2020, Asia's OmniPork, a company that makes plant-based pork products, announced the opening of 210 outlets in China (h/t Vegconomist). Following supply problems due to the covid-19 and pork price escalation in China, the company had decided to explore the untapped potential of the plant-based meat market in China.

Over the medium term, the sales of plant-based food and beverages have rebounded to the pre-pandemic levels as of 2022. Infact the increased awareness about the health benefits of plant-based food and beverages through various social media platforms and advertisement are driving the market studied and this has lead to the surge in demand for vegan food and beverages have increased in China.

Owing to the above factors domestic as well as international players dived into China plant-based food and beverages market. For example, 2020 witnessed the release of the first Beyond Pork product, which was developed especially for the Chinese market. In May 2022, Beyond expanded its line of pork sauces to include a variety made from plants. In order to increase consumer access to its products across China, the company launched its first DTC e-commerce website in 2021.

China Plant-based Food & Beverages Industry Segments

The plant-based food and beverages include meat and dairy substitute products derived from plant products. The products include meat alternatives made from different plant-based ingredients like chickpea, soy and tofu, pea protein, and other such ingredients. The plant-based beverages include dairy alternatives like oats milk, almond milk, coconut milk, and other such beverages. By product type the market studied is segmented into meat substitutes, dairy alternative beverages, non-dairy ice cream, non-dairy cheese, non-dairy yogurt, and non-dairy spreads. Meat substitutes are bifurcated into Textured Vegetable Protein, Tofu, Tempeh, and others. Beverages are further segmented into soy milk, almond milk, and other beverages. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online retail channels, and other distribution channels. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Product Type
Meat Substitutes
Textured Vegetable Protein
Tofu
Tempeh
Others
Dairy Alternative Beverages
Soy Milk
Almond Milk
Other Dairy Alternative Beverages
Non-dairy Ice Cream
Non-dairy Cheese
Non-dairy Yogurt
By Distribution Channel
Supermarkets/ Hypermarkets
Convinience Sores
Online Retail Channels
Other Distribution Channels

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China Plant-based Food & Beverages Market Trends

This section covers the major market trends shaping the China Plant-based Food & Beverages Market according to our research experts:

Growing Popularity of Vegan Diet in China

The consumption of meat has increased in China as the country has become more prosperous. Though it might be altering. A growing number of individuals are seeking meat substitutes due to environmental concerns and pandemics like the coronavirus, and the nation's market for plant-based meat is expanding to meet this need. China has the ability to play a significant role in advancing the global trend toward plant-based meat by boosting output and lowering costs. The country has an abundance of non-GMO soybeans locally and a large processing capacity for plant-based raw materials like soy and pea.

The USDA Foreign Agricultural Service Livestock and Poultry World Markets and Trade report states that the overall meat import forecasts for China for 2020 and 2021 are revised up by 4% and 1%, respectively, due to higher estimates for pork. It is noticeable that few nations have included the issue of meat consumption in their plans to address the climate catastrophe. Numerous companies have recognized China as an important country for the plant-based food and beverages market. top international businesses, like Beyond Meat and Impossible Foods, are also entering China's market for plant-based meat. The American agribusiness behemoth Cargill launched its plant-based protein consumer brand PlantEver in June 2020, selling nuggets and patties that are beef- and chicken-free. The same year, the Chinese market was the focus of Harvest Gourmet, a plant-based food brand from the multinational food company Nestle. Restaurant chains are now including meat substitutes on their menus; Chinese customers can now discover Beyond Meat products at Starbucks, the Impossible Whopper at Burger King, and vegan chicken nuggets at KFC. The market for plant-based meat has become increasingly competitive thanks to domestic entrepreneurs like Zhenmeat, Hey Maet, and Hero Protein joining the worldwide giants in the trend.

China plant-based food and beverages market trend-1

Increase in Lactose Intolerant Population

The increasing prevalence of lactose intolerance, rising consumer health awareness, and changing lifestyles together are likely to drive the China dairy alternatives market. While physical reactions to foods are common, a growing number of people are developing lactose intolerances, driving up demand for the plant-based dairy market. Additionally, there is a growing perception among the general public that lactose-free products are a healthier alternative to conventional dairy.

Lactose intolerance is caused by a lack of an enzyme called lactase, which breaks down lactose. According to the National Center for Biotechnology Information, most humans are born with the capacity to digest lactose, the major carbohydrate in milk and the primary source of nourishment until weaning. Each ethnic group experiences lactase expression decrease at a different rate and for a different amount of time. As per the National Institute of Health, lactose intolerance is prevalent among East Asian population affecting 70 to 100% of the population. Within three to four years following weaning, Chinese people lose between 80 to 90% of their activity. Consumers have switched to dairy-free diets by choosing dairy alternatives, due to higher calorie concerns and an increased prevalence of high blood cholesterol levels and obesity. Moreover, consumers are becoming more aware of the negative impact of saturated fat levels, hormone concentrations, and antibiotic residues found in dairy products.

Lactose intolerance is on the rise in that region, and health concerns about toxic chemicals contained in dairy products are projected to boost demand for non-dairy alternatives.

China Vegan food and beverages market-trend2

China Plant-based Food & Beverages Market Competitor Analysis

A few of the major companies in the market include Alpha Foods, Qishan Foods, Yili Group, Oatly Group AB, and Green Monday Group. The competition is increasing in the China plant-based food and beverages market with both domestic and international players foraging into the market. New product launches that include innovative flavors, improved and meat-like textures, and mergers and acquisitions with local players have been strong business strategies for market growth. The majority of the restaurants are launching and customizing vegetarian food, which may substitute for meat and dairy products and may suit the tastes and preferences of people preferring meat and dairy-based products.

China Plant-based Food & Beverages Market Top Players

  1. Alpha Foods

  2. Green Monday Group

  3. Qishan Foods

  4. Oatly Group AB

  5. Yili Group

*Disclaimer: Major Players sorted in no particular order

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China Plant-based Food & Beverages Market Recent Developments

  • In May 2022, one of the prominent plant-based meat suppliers Beyond Meat expanded in China following a new partnership with Chinese convenience shop Lawson. In accordance with the deal, two plant-based lunch boxes were supplied to more than 2,300 Lawson stores across the country.
  • In June 2021, LIVEKINDLY Collective has introduced two new vegan meat brands in an effort to meet Chinese customers' growing desire for plant-based foods and drinks. The flagship vegetarian meat products Giggling Pig and Happy Chicken were created to cater to Chinese culinary preferences. The seven products offered by the brands included dumplings, seasoned mince, and several meals made with mushrooms.
  • In January 2021, Thailand-based Sesamilk Foods announced its plans about targetting China and Taiwan as part of its expansion strategy abroad to increase export business from 30% to 80% by 2022-2023.

China Plant-based Food & Beverages Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's 5 Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Meat Substitutes

        1. 5.1.1.1 Textured Vegetable Protein

        2. 5.1.1.2 Tofu

        3. 5.1.1.3 Tempeh

        4. 5.1.1.4 Others

      2. 5.1.2 Dairy Alternative Beverages

        1. 5.1.2.1 Soy Milk

        2. 5.1.2.2 Almond Milk

        3. 5.1.2.3 Other Dairy Alternative Beverages

      3. 5.1.3 Non-dairy Ice Cream

      4. 5.1.4 Non-dairy Cheese

      5. 5.1.5 Non-dairy Yogurt

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/ Hypermarkets

      2. 5.2.2 Convinience Sores

      3. 5.2.3 Online Retail Channels

      4. 5.2.4 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Alpha Foods

      2. 6.3.2 Beyond Meat

      3. 6.3.3 Yili Group

      4. 6.3.4 China Mengniu Dairy Company Limited

      5. 6.3.5 Oatly Group AB

      6. 6.3.6 Unilever PLC (The Vegetarian Butcher)

      7. 6.3.7 Green Monday Group (Omnipork)

      8. 6.3.8 Starfield Food Science and Technology

      9. 6.3.9 Vitasoy International Holdings Ltd.

      10. 6.3.10 Qishan Foods

      11. 6.3.11 Zhenmeat

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

  9. 9. DISCLAIMER

**Subject to Availability
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China Plant-based Food & Beverages Market Research FAQs

The China Plant-based Food and Beverages Market is studied from 2018 - 2028.

The China Plant-based Food and Beverages Market is growing at a CAGR of 5.11% over the next 5 years.

Alpha Foods, Green Monday Group, Qishan Foods, Oatly Group AB, Yili Group are the major companies operating in China Plant-based Food and Beverages Market.

China Plant-based Food and Beverages Industry Reports

In-depth industry statistics and market share insights of the China Plant-based Food and Beverages sector for 2020, 2021, and 2022. The China Plant-based Food and Beverages research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the China Plant-based Food and Beverages report PDF.

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