The Malaysian plant protein market was estimated to be valued at US$26.298 million in 2019 and is projected to grow robustly during the forecast period. Pork is one of the most consumed meats in the country and is considered to be one of the prime ingredients and foodstuff in the Malaysian cuisine. However, this poses serious dangers to the health of individuals who consume excess pork among the population. This is shifting the demand towards premium protein products such as pea and soy-based protein and is increasing consumption among the younger population and middle-aged population, which is being facilitated by the rising propensity to spend among the middle-income and lower-income population due to the increasing disposable income. In addition, the popularity of soy and pea protein is slowly growing and is leading to it gaining traction among the growing health-conscious individuals in the population as it is a complete and efficient protein source and provides much better health benefits, with limited health effects.
Furthermore, the market players are upgrading their techniques, operating capabilities, and launching new products with better flavour profiles and enhanced protein content to cater to the health-conscious population and further encourage the adoption and to affect the market growth positively over the forecast period. For instance, in December 2019, Jack Yap, who is the founder and chief executive officer of Phuture Foods, a company that is dealing with the provision of plant protein-based meat alternatives to make the diets of people meatless by promoting the consumption of healthy foods, announced that they have launched a new pork alternative based entirely on plant proteins. It is called the Pork-Free Minced Pork and is developed by non-GMO, soy proteins, chickpea proteins, and pea proteins. In comparison to the regular animal protein-based minced pork, it offers a host of benefits. It contains 91% lesser fat and 66% lesser calories than actual pork, it has Vitamin B12 and Iron, a well-balanced profile of essential amino acids. It provides the required amount of fiber, lesser cholesterol, which is present in high amount in red meats. In addition, it has no presence of a trace of added hormones and no antibiotics, has been certified as non-GMO Kosher friendly, Halal and approved by Hazard Analysis and Critical Control Points (HACCP) and International Organization for Standardization (ISO).
The online distribution channel to increase its share
By distribution channel the market has been segmented on the basis of online and offline. The online distribution channel is projected to grow significantly during the forecast period on account of the decent penetration of high-speed internet services throughout the country. This coupled with the availability of cheaper mobile internet packs which has enabled the population to mobiles in order to shop for daily essentials through the rising e-commerce and e-retail platforms. The online services apart from these reasons are also able to provide the benefit of added convenience, special discounts on bulk shopping among much more to the user, which is also contributing to the market share of this region
Segmentation
By Source
By Form
By Application
By Distribution Channel
Furthermore, the market players are upgrading their techniques, operating capabilities, and launching new products with better flavour profiles and enhanced protein content to cater to the health-conscious population and further encourage the adoption and to affect the market growth positively over the forecast period. For instance, in December 2019, Jack Yap, who is the founder and chief executive officer of Phuture Foods, a company that is dealing with the provision of plant protein-based meat alternatives to make the diets of people meatless by promoting the consumption of healthy foods, announced that they have launched a new pork alternative based entirely on plant proteins. It is called the Pork-Free Minced Pork and is developed by non-GMO, soy proteins, chickpea proteins, and pea proteins. In comparison to the regular animal protein-based minced pork, it offers a host of benefits. It contains 91% lesser fat and 66% lesser calories than actual pork, it has Vitamin B12 and Iron, a well-balanced profile of essential amino acids. It provides the required amount of fiber, lesser cholesterol, which is present in high amount in red meats. In addition, it has no presence of a trace of added hormones and no antibiotics, has been certified as non-GMO Kosher friendly, Halal and approved by Hazard Analysis and Critical Control Points (HACCP) and International Organization for Standardization (ISO).
The online distribution channel to increase its share
By distribution channel the market has been segmented on the basis of online and offline. The online distribution channel is projected to grow significantly during the forecast period on account of the decent penetration of high-speed internet services throughout the country. This coupled with the availability of cheaper mobile internet packs which has enabled the population to mobiles in order to shop for daily essentials through the rising e-commerce and e-retail platforms. The online services apart from these reasons are also able to provide the benefit of added convenience, special discounts on bulk shopping among much more to the user, which is also contributing to the market share of this region
Segmentation
By Source
- Pea
- Rapeseed
- Soy
- Hempseed
- Others
By Form
- Protein Concentrates
- Protein Isolates
- Protein Hydrolysate
By Application
- Dietary Supplement
- Food and Beverages
- Pharmaceuticals
- Animal Feed
By Distribution Channel
- Online
- Offline
Companies Mentioned
- DuPont
- Roquette Frères
- Givaudan
- ADM
- Cargill, Incorporated
Methodology
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