China Soy Protein Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)

China Soy Protein Market to be worth $1 billion by 2027

China is one of the largest economies in the world. Most of the growth of China has been recorded in the past two decades. The country's government has taken various initiatives to intensify industrialization and drive rapid infrastructural developments. The Chinese market has been moving towards maturity for the last few years. The soy protein industry in China is developed and the consumption of soy protein is high. The soy protein companies are growing rapidly as more emerging players are entering the industry to capture most of the market share.

The soy protein industry accounts for around 25% of the Asia-Pacific soy protein market share. The major competitor for the soy protein market in the country is whey protein. The whey protein market's growth rate is relatively high compared to all other protein types. Nevertheless, the market revenue of soy protein is projected to capture the value of $1,001.5 million by 2027, registering at a CAGR of 8.3% from 2022 to 2027.

Major driver for the soy protein market in the country is the rapidly rising demand for plant-based protein products among the health-conscious consumers in the country. The application of soy protein across the food industry currently captures the highest market share, with a forecasted CAGR of 8.5% during the forecast period. The robust growth rate for soy protein application in food industry is forecasted based on ever-growing application in snacks, confectionery, and meat alternatives. Another driver of the rapidly rising soy protein market is the increasing population indulging in sports and fitness to reduce obesity. Such a trend projects the application of soy proteins across the dietary supplement industry to grow at a CAGR of 9.1% during the forecast period.

Even though China is one of the major consumers of soy protein, some constraints threaten the growth of the soy protein market. The demand for substitute protein products such as whey protein-based protein bars, drinks, juices, smoothies, etc., across the sports nutrition industry is very high compared to the application of soy protein in similar products. In addition, soy is proven to cause allergies to some people. However, recent innovations in advanced processing may help remove allergic content from soy protein. Thus, in the future rising research and improved technological advancement would boost the soy protein industry.

In China, key soy protein manufacturers are Shandong Wonderful Industrial Group Co., Ltd, Crown Soya Protein Group, and Shandong Sinoglory Health Food Co., Ltd. Moreover, considering the high demand for soy protein in the Asian market, key players plan to expand their operation across other neighboring countries in the region by implementing various investment strategies such as mergers, acquisitions, product launches, and production capacity expansion.

Key Deliverables

• Market trends since 2018 and five year forecasts of market growth
• Detailed analysis of the micro and macro elements influencing demand trends
• Identifying opportunity spaces across segments
• Supply & demand side trend and analysis
• Price trend analysis, investment prospects, and competition pattern
• Insights on the growth potential of the market
• Detailed analysis of major producers covering financial investments & strategies adopted
• Competitive landscape of the industry