Asia-Pacific Plant Protein Market - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4536122
  • Report
  • Region: Asia Pacific
  • 100 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Ajinomoto Co. Inc.
  • Axioms Foods
  • Azaki Gulico Co. Ltd.
  • Cargill Incorporated
  • Glanbia Nutritionals
  • Growing Naturals LLC
  • MORE
Market Insights

The Asia-Pacific plant protein market is expected to reach USD 1178 million by 2023 at a CAGR of 6.1% during the forecast period of 2018-2023. Asia-Pacific is an emerging market for the plant protein market globally. The emerging economy of developing nations and the surge in population has increased the protein demand in the region. Plant proteins are the ingredients derived from plant sources such as soy, wheat, pea, and hemp, which are rich in amino acid profiles and provide great nutritional benefits to health. Plant protein by the soy source has contributed to the largest market in the region. China led in the production of soy protein, followed by India and Indonesia. Soy and pea protein are the fastest growing market in the region. However, soy protein is the largest market, followed by wheat protein.

Market Dynamics

Plant protein ingredients are commercially used in the food & beverage products, sports nutrition products, animal feed, and pharmaceutical applications. Protein products are majorly consumed by the infant and adult age groups. However, due to the benefits of plant protein ingredients, nowadays it has covered all age groups.

The Asia-Pacific plant protein market is expected to increase in developing countries due to emerging economies, rise in demand for healthy food products and high nutritional profiles of soy and pea proteins. Consumers are more inclined toward plant protein due to its ease of digestibility, sustainable source, high nutritional value, non-allergic nature, economical, and ethical reasons. Innovation in plant-based meat alternatives is another driving factor for the plant ingredient markets. Due to high nutritional facts and economic feasibility, plant proteins provide a great opportunity for the application in food, beverages, and dietary supplements to meet the insatiable demand for protein in the market. However, fluctuating raw material cost, government regulation, and organolept acceptance of plant-based proteins have become a hurdle to the industry.

Market Segmentation

Asia-Pacific plant protein market by application in food industry includes sports and energy drink, meat analogs, beverages, bakery and confectionery, and ready to eat products. Plant ingredient in sports nutrition contributes to the major share in the market in application types. Animal feed market is also a growing segment, which uses plant protein as an animal feed ingredient to depend on the more sustainable source, which consumes less energy, land, and water. Based on the source of plant protein, the market is segmented into wheat protein, soy protein, pea protein, and other cereal protein. Soy protein dominates the plant protein ingredient segment, followed by wheat protein and pea protein. Due to the high nutritional value of soy protein, which has shown a positive effect on lowering cholesterol levels and fighting heart disease, it is primarily used in energy drinks and dietary supplement products. The market is segmented on the type of plant proteins as protein concentrate, protein isolate, and textured protein.

Through dependence on a sustainable source of protein, the market has created an advantage for the market, while the GMO nature of soy and wheat protein, sensory and functional properties of plant proteins is still a big challenge for the market. The key players involved in new product development, expansions and partnerships, agreements and collaborations to gain a profitable share in the market.

Key developments
  • January 2018- Cargill invested in PURIS to accelerate pea protein production for global market.
Major players - ARCHER DANIELS MIDLAND COMPANY, AJINOMOTO CO., INC., AXIOMS FOODS, AZAKI GULICO CO. LTD., CARGILL INCORPORATED, E.I DU PONT DE NEMOURS AND COMPANY, GLANBIA NUTRITIONALS, GROWING NATURALS, LLC, KERRY GROUP, MANITOBA HARVEST HEMP FOODS, OMEGA PROTEIN CORPORATION, PINNACLE FOODS INC., RELIANCE PRIVATE LABEL SUPPLEMENTS, ROQUETTE FOODS, SCOULAR COMPANYS FOOD INGREDIENT, SODRUGESTVO GROUPS, among others.

Reasons to Purchase this Report
  • Analyzing outlook of the market with the recent trends and Porters five forces analysis
  • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
  • Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report

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FEATURED COMPANIES

  • Ajinomoto Co. Inc.
  • Axioms Foods
  • Azaki Gulico Co. Ltd.
  • Cargill Incorporated
  • Glanbia Nutritionals
  • Growing Naturals LLC
  • MORE
1. Introduction
1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description

2. Key Findings of the Study

3. Market Overview
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 Increased Demand for Protein Products
3.2.1.2 Growth in Urbanization
3.2.1.3 Inclination toward Health Awareness
3.2.1.4 Innovation in Food Technology
3.2.1.5 Growing Demand for Animal Feed
3.2.1.6 Cost Competitiveness
3.2.2 Restraint
3.2.2.1 Rising Cost of Agriculture Commodities
3.2.2.2 Sensory Properties of Plant Protein
3.2.2.3 Government Regulation
3.2.3 Opportunity
3.2.3.1 Sustainable Source
3.2.3.2 Increase in Health Awareness
3.2.3.3 Increasing Demand for Vegan Diet
3.2.4 Porters Five Forces Analysis
3.2.4.1 Bargaining Power of Suppliers
3.2.4.2 Bargaining Power of Buyers
3.2.4.3 Threat of New Entrants
3.2.4.4 Threat of Substitute Products and Services
3.2.4.5 Degree of Competition

4. Market Segmentation
4.1 By Application
4.1.1 Food Ingredients
4.1.1.1 Energy and Sports Drink
4.1.1.2 Meat Analogues
4.1.1.3 Beverages
4.1.1.4 Bakery and Confectionery
4.1.1.5 Ready to Eat
4.1.2 Pharmaceuticals
4.1.3 Animal Feed
4.2 By Source
4.2.1 Wheat Protein
4.2.2 Soy Protein
4.2.3 Pea Protein
4.2.4 Other Vegetable Protein
4.2.5 Nuts and Seeds
4.3 By Type
4.3.1 Protein Isolate
4.3.2 Protein Concentrate
4.3.3 Textured Protein
4.4 By Geography
4.4.1 Asia-Pacific
4.4.1.1 China
4.4.1.2 Japan
4.4.1.3 India
4.4.1.4 Australia
4.4.1.5 Rest of Asia-Pacific

5. Competitive Landscape
5.1 Most Adopted Strategies
5.2 Most Active Companies
5.3 Market Share Analysis

6. Company Profiles
6.1 Archer Daniels Midland Company (US)
6.2 Ajinomoto Co., Inc.
6.3 Axioms Foods
6.4 Azaki Gulico Co., Ltd.
6.5 Cargill Incorporated (US)
6.6 E.I. Du Pont de Nemours and Company (US)
6.7 Glanbia Nutritionals
6.8 Growing Naturals, LLC
6.9 Kerry Group (Ireland)
6.10 Manitoba Harvest Hemp Foods
6.11 Omega Protein Corporation (US)
6.12 Pinnacle Foods, Inc.
6.13 Reliance Private Label Supplements
6.14 Roquette Foods
6.15 Scoular Companys Food Ingredient
6.16 Sodrugestvo Group

7. Appendix
7.1 Disclaimer
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  • Archer Daniels Midland Company
  • Ajinomoto Co. Inc.
  • Axioms Foods
  • Azaki Gulico Co. Ltd.
  • Cargill Incorporated
  • E.I Du Pont de Nemours and Company
  • Glanbia Nutritionals
  • Growing Naturals LLC
  • Kerry Group
  • Manitoba Harvest Hemp Foods
  • Omega Protein Corporation
  • Pinnacle Foods Inc.
  • Reliance Private Label Supplements
  • Roquette Foods
  • Scoular Companys Food Ingredient
  • Sodrugestvo Groups
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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