Market Size of china plant protein Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 1.42 Billion |
|
|
Market Size (2029) | USD 2.08 Billion |
|
Largest Share by End User | Food and Beverages |
|
|
CAGR (2024 - 2029) | 8.00 % |
|
|
Fastest Growing by End User | Animal Feed |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
China Plant Protein Market Analysis
The China Plant Protein Market size is estimated at 1.42 billion USD in 2024, and is expected to reach 2.08 billion USD by 2029, growing at a CAGR of 8.00% during the forecast period (2024-2029).
1.42 Billion
Market Size in 2024 (USD)
2.08 Billion
Market Size in 2029 (USD)
7.91 %
CAGR (2017-2023)
8.00 %
CAGR (2024-2029)
Largest Market by Product Type
63.83 %
value share, Soy Protein, 2023
Soy protein dominates over other plant protein types due to its high protein content, low viscosity, solubility, and other functionalities, which ensures its extensive use in all sectors.
Largest Market by End User
53.44 %
value share, Food and Beverages, 2023
The demand for plant protein in food and beverage is the highest due to the multi-functionality of plant proteins and the surging number of Chinese consumers shifting toward vegan meals.
Fastest Growing Market by Product Type
9.35 %
Projected CAGR, Pea Protein, 2024-2029
Pea proteins are gaining demand from meat alternative manufacturers due to their quick rehydration, neutral flavor, and texturizing abilities. This has resulted in a series of new products.
Fastest Growing Market by End User
9.58 %
Projected CAGR, Animal Feed, 2024-2029
The capabilities of vital wheat gluten, which acts as an excellent and highly functional alternative to fish and animal-based meals, are driving the segment's growth.
Leading Market Player
9.98 %
market share, International Flavors & Fragrances Inc., 2021
IFF is constantly developing new plant proteins, and differentiated products are an important factor for its success.
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.
Understand The Key Trends Shaping This Market
