Asia-Pacific Plant Protein Ingredients Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 4.4 Billion |
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Market Size (2029) | USD 5.88 Billion |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.96 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Plant Protein Ingredients Market Analysis
The Asia-Pacific Plant Protein Ingredients Market size is estimated at 4.4 billion USD in 2024, and is expected to reach 5.88 billion USD by 2029, growing at a CAGR of 5.96% during the forecast period (2024-2029).
4.4 Billion
Market Size in 2024 (USD)
5.88 Billion
Market Size in 2029 (USD)
5.51 %
CAGR (2017-2023)
5.96 %
CAGR (2024-2029)
Largest Market by Product Type
58.89 %
value share, Soy Protein, 2023
Soy protein overpowers all the plant protein types due to its high protein content, low viscosity, and solubility, which caters to its extensive use in all sectors.
Largest Market by End User
61.08 %
value share, Food and Beverages, 2023
The meat and beverage industries drove the F&B sector due to the functionality of plant proteins in such products and the rising demand for vegan meals in the region.
Fastest Growing Market by Product Type
6.73 %
Projected CAGR, Pea Protein, 2024-2029
Pea proteins are gaining demand from meat alternatives due to their quick rehydration, neutral flavor, and texturizing abilities, which has led to a slew of new products.
Fastest Growing Market by End User
6.48 %
Projected CAGR, Animal Feed, 2024-2029
The high accessibility, cost-effectiveness, and apt amino acid profile of plant proteins, especially soy and wheat proteins, make it the fastest-growing segment.
Leading Market Player
7.71 %
market share, Archer Daniels Midland Company, 2021
Archer Daniels Midland Company is constantly developing new plant proteins, and its differentiated product portfolios are the most important factor for its success.
F&B and animal feed together holds major share in usage of plant protein with growing vegetarian population coupled with numerous functionality associated with it
- By application, the food and beverage industry is the leading application sector for plant proteins in the region. The increasing demand for protein functionalities and awareness about protein-rich diets primarily drives the demand for proteins in the F&B industry. Under the F&B segment, the meat/poultry/seafood and meat alternative products sub-segment accounted for the major volume share of 44.2% in 2022. Plant proteins can replace meat, making meat products available for vegan consumers in the region. The region is highly dominated by the consumer base in China, followed by India, the region with the highest vegetarian population in the world. Proteins such as soy, wheat, and rice proteins have the maximum market share in the segment.
- However, the snacks sub-segment is the fastest-growing sub-segment, projected to record a CAGR of 6.81%, by value, during the forecast period. By protein, soy protein holds significant demand in the category. Studies showed that soy protein snacking improves appetite control and diet quality among teenagers, thus driving its demand. It also offers tremendous versatility in snack compositions, with up to 25g of protein per serving.
- The animal feed segment is the second leading segment, and it is projected to register a CAGR of 6.11%, by value, during the forecast period. Plant proteins have numerous advantages like pea protein can be fed to various livestock species, such as ruminants, poultry, pigs, and aquafeed and pet food. The demand for plant proteins is increasing in feeds due to their functionalities, such as providing the binding required for the pellet or granule forms of feed (their water insolubility decreases pellet breakdown).
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China dominates the market with consumer inclination towards plan-based food and beverages coupled with strong production capacity of soy protein drove the application across the region
- China led plant protein demand in 2022. With plant proteins emerging as a sustainable protein option involving no animal cruelty, they are gaining popularity among environmentalists and the vegan population. Fueling concerns over carbon emissions and the food crisis have further propelled the market's growth. By application, the food and beverage sector is the leading application sector for protein in the region, accounting for a major volume share of 53.4%, followed by the animal feed industry, with a 53.4% volume share, in 2022. Animal feed is also projected to be the fastest-growing segment in the overall plant proteins market, with a CAGR of 9.10%, by value, during the forecast period (2023-2029).
- Demand was also influenced by significant investments made in the plant-based space. In 2018, firms ventured to invest in Haocan Food Service Management Co. Ltd to develop a chickpea-based snack product. Later in the same year, InnovoPro raised a fund of USD 4 million to produce plant-based protein ingredients.
- Considering the highly competitive environment in the plant-based business, the Asia-Pacific region witnessed the highest Y-o-Y growth rate of 12.43%, by value, in 2020. However, Malaysia is projected to be the fastest-growing country in terms of value, witnessing a CAGR of 6.38% during the forecast period (2023-2029). In terms of consumption, the market was followed by India, majorly driven by the F&B sector. In 2022, the sector captured a share of 52%, by volume, in the country. The rising vegan population is demanding more plant-based products. For instance, series of vegan tours in mid-2018, the global tour operator based in Australia saw a rise in interest for such tours held in India, Thailand, and Italy.
Asia-Pacific Plant Protein Ingredients Market Trends
Plant protein consumption growth fuels opportunities for key players in the plant protein ingredients sector
- The data given in the graph depicts the per capita consumption of soy protein for the whole of the Asia-Pacific region. Plant proteins are highly gaining interest in the Asian market, as the awareness and proof regarding their benefits are rising in the region. Among all plant proteins, soy proteins occupy the market share with the increased acceptability of the ingredient in different foods and its increased production. The volume of soybean meal consumption in China in 2020/21 was 72.68 MMT, which was around 9% more than in 2018. High investments in research, rapid technological advancements, and advanced innovation techniques are some of the major factors resulting in the use of developed protein ingredients, including soy proteins.
- Major drivers of allergen-free plant proteins such as soy, pea, hemp, and potato may include increasing adoption of the vegetarian lifestyle, growing demand for lactose-free and gluten-free products, and growing concern about health-related problems. Around 81% of Indian consumers restrained meat from their diet in 2021. Major benefits of plant protein ingredients over animal proteins, including high nutritional value, being a good source of several vitamins and minerals, technological advancements in various food industries, and growing demand for natural and organic substitutes, are expected to change consumer preference.
- The increasing consumption of plant proteins and consumer acceptance in the region drive manufacturers to innovate products fortified with these ingredients. Major grains consumed in Japan are soybeans, rice, and wheat, along with some other types like corn and peas. The rise in plant-based protein is expected to continue to provide opportunities for food manufacturers in the upcoming years.
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Soy, wheat, and pea production contributes majorly as raw material for plant protein ingredients manufacturers
- The graph given depicts the production of basic raw materials used for plant protein production including peas (dry), rice, soybeans, and wheat. An increase in maize production in China is leading to a decline in soybean production. The overall plant protein production increased by 4% from 2016 to 2020 due to the rising vegan population, which accounted for 14% in 2020. For instance, in 2020, the production of soybeans in China amounted to approximately 19.6 million tons, while wheat production in China amounted to approximately 134 million tons.
- India's soybean acreage increased by over 8% in 2020-21, while production climbed by over 31.5 % to 122.475 lakh tonnes. This can be attributed to the collaboration of public and private companies in developing various techniques and directly engaging with farmers to enhance farm incomes and increase soybean yield. In 2014, the state government's Public-Private Partnership for Integrated Agriculture Development (PPPIAD), in collaboration with ADM, introduced new technologies for soybean cultivation that aided farmers in increasing their yields.
- The region's various proteins from plant sources are possible due to increased production. It is mainly dominated by soybean, the most planted legume in Japan in terms of acreage (141,800 ha). Significant rice production also takes place in Japan. About 85% of the 2.3 million farms in Japan plant rice yearly. However, in Australia, farmers produced around 394 million hectares of 88,073 crop and livestock businesses. The plant industry produced around USD 33.5 billion worth of agricultural products. In 2021, Riverina rice crops were around 450,000 paddy tonnes. The crop was 10 times larger than the 2020 rice crop impacted by drought and low water allocations.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Changing lifestyles with increasing number of working women is boosting the market
- Market competitiveness is boosting the growth
- Sauces segment to maintain lion's share in the APAC market
- Soaring demand for plant-based dairy products within APAC countries
- APAC's growing appetite for plant-based meats to boost demand
- Healthy snacking is likely to impel the market
- Increase in demand for ruminant feed
- Rising consumption of bakery goods as a meal is driving the industry
- Increased consumer preference for convenient breakfast cereal products
- Premium confectionery is a current market trend
- Increase in elderly population to drive demand
- Increasing developments spiking the segmental sales
- Increasing number of health and fitness centers is driving the market
- Increasing demand for natural/organic beauty and personal care products
Asia-Pacific Plant Protein Ingredients Industry Overview
The Asia-Pacific Plant Protein Ingredients Market is fragmented, with the top five companies occupying 17.89%. The major players in this market are Archer Daniels Midland Company, Fuji Oil Group, International Flavors & Fragrances, Inc., Kerry Group PLC and Südzucker AG (sorted alphabetically).
Asia-Pacific Plant Protein Ingredients Market Leaders
Archer Daniels Midland Company
Fuji Oil Group
International Flavors & Fragrances, Inc.
Kerry Group PLC
Südzucker AG
Other important companies include Bunge Limited, CHS Inc., Nagata Group, Nippn Corporation, Shandong Jianyuan Bioengineering Co. Ltd, Tereos SCA, Wilmar International Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-Pacific Plant Protein Ingredients Market News
- May 2022: BENEO, a subsidiary of Südzucker, entered a purchase agreement to acquire Meatless BV, a producer of functional ingredients. BENEO is expanding its existing product offering with the acquisition to offer an even broader range of texturizing solutions for meat and fish alternatives.
- April 2021: ADM opened a new, cutting-edge plant-based innovation lab located in ADM’s Biopolis research hub in Singapore. The lab develops advanced products and customized solutions to meet the growing food and beverage demand in the Asia-Pacific region. The ADM Biopolis research hub in Singapore features a wide range of capabilities, including a food and flavor analytic lab, beverage and dairy applications lab and pilot plant, bakery and confectionery lab, meat and savory lab, sweet and savory creation lab, sensory evaluation facilities, customer innovation center, and a new plant-based innovation lab.
- April 2021: Bunge Limited has invested USD 45.7 million in Australian Plant Proteins (APP) to double the production of plant protein isolates in the country by March 2022. The ingredients manufactured by APP include fava bean isolate powder, yellow lentil isolate powder, and red lentil isolate powder.
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We provide a comprehensive and exhaustive set of data pointers for global, regional, and country-level metrics that illustrate the fundamentals of the protein industry. With the help of 45+ free charts, clients can access in-depth market analysis based on per capita consumption of animal and plant protein, end-user market volume, and production data of raw materials for protein ingredients, through granular-level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on protein sources, protein types, forms, end-user segments, etc., are available in the form of comprehensive reports as well as Excel-based data worksheets.
Asia-Pacific Plant Protein Ingredients Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. INTRODUCTION
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. KEY INDUSTRY TRENDS
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3.1 End User Market Volume
- 3.1.1 Baby Food and Infant Formula
- 3.1.2 Bakery
- 3.1.3 Beverages
- 3.1.4 Breakfast Cereals
- 3.1.5 Condiments/Sauces
- 3.1.6 Confectionery
- 3.1.7 Dairy and Dairy Alternative Products
- 3.1.8 Elderly Nutrition and Medical Nutrition
- 3.1.9 Meat/Poultry/Seafood and Meat Alternative Products
- 3.1.10 RTE/RTC Food Products
- 3.1.11 Snacks
- 3.1.12 Sport/Performance Nutrition
- 3.1.13 Animal Feed
- 3.1.14 Personal Care and Cosmetics
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3.2 Protein Consumption Trends
- 3.2.1 Plant
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3.3 Production Trends
- 3.3.1 Plant
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3.4 Regulatory Framework
- 3.4.1 Australia
- 3.4.2 China
- 3.4.3 India
- 3.4.4 Japan
- 3.5 Value Chain & Distribution Channel Analysis
4. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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4.1 Protein Type
- 4.1.1 Hemp Protein
- 4.1.2 Pea Protein
- 4.1.3 Potato Protein
- 4.1.4 Rice Protein
- 4.1.5 Soy Protein
- 4.1.6 Wheat Protein
- 4.1.7 Other Plant Protein
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4.2 End User
- 4.2.1 Animal Feed
- 4.2.2 Food and Beverages
- 4.2.2.1 By Sub End User
- 4.2.2.1.1 Bakery
- 4.2.2.1.2 Beverages
- 4.2.2.1.3 Breakfast Cereals
- 4.2.2.1.4 Condiments/Sauces
- 4.2.2.1.5 Confectionery
- 4.2.2.1.6 Dairy and Dairy Alternative Products
- 4.2.2.1.7 Meat/Poultry/Seafood and Meat Alternative Products
- 4.2.2.1.8 RTE/RTC Food Products
- 4.2.2.1.9 Snacks
- 4.2.3 Personal Care and Cosmetics
- 4.2.4 Supplements
- 4.2.4.1 By Sub End User
- 4.2.4.1.1 Baby Food and Infant Formula
- 4.2.4.1.2 Elderly Nutrition and Medical Nutrition
- 4.2.4.1.3 Sport/Performance Nutrition
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4.3 Country
- 4.3.1 Australia
- 4.3.2 China
- 4.3.3 India
- 4.3.4 Indonesia
- 4.3.5 Japan
- 4.3.6 Malaysia
- 4.3.7 New Zealand
- 4.3.8 South Korea
- 4.3.9 Thailand
- 4.3.10 Vietnam
- 4.3.11 Rest of Asia-Pacific
5. COMPETITIVE LANDSCAPE
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Landscape
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5.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 5.4.1 Archer Daniels Midland Company
- 5.4.2 Bunge Limited
- 5.4.3 CHS Inc.
- 5.4.4 Fuji Oil Group
- 5.4.5 International Flavors & Fragrances, Inc.
- 5.4.6 Kerry Group PLC
- 5.4.7 Nagata Group
- 5.4.8 Nippn Corporation
- 5.4.9 Shandong Jianyuan Bioengineering Co. Ltd
- 5.4.10 Südzucker AG
- 5.4.11 Tereos SCA
- 5.4.12 Wilmar International Ltd
6. KEY STRATEGIC QUESTIONS FOR PROTEIN INGREDIENTS INDUSTRY CEOS
7. APPENDIX
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7.1 Global Overview
- 7.1.1 Overview
- 7.1.2 Porter’s Five Forces Framework
- 7.1.3 Global Value Chain Analysis
- 7.1.4 Market Dynamics (DROs)
- 7.2 Sources & References
- 7.3 List of Tables & Figures
- 7.4 Primary Insights
- 7.5 Data Pack
- 7.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF BABY FOOD AND INFANT FORMULA MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 2:
- VOLUME OF BAKERY MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 3:
- VOLUME OF BEVERAGES MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 4:
- VOLUME OF BREAKFAST CEREALS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- VOLUME OF CONDIMENTS/SAUCES MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- VOLUME OF CONFECTIONERY MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VOLUME OF DAIRY AND DAIRY ALTERNATIVE PRODUCTS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 8:
- VOLUME OF ELDERLY NUTRITION AND MEDICAL NUTRITION MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 9:
- VOLUME OF MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 10:
- VOLUME OF RTE/RTC FOOD PRODUCTS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VOLUME OF SNACKS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 12:
- VOLUME OF SPORT/PERFORMANCE NUTRITION MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 13:
- VOLUME OF ANIMAL FEED MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 14:
- VOLUME OF PERSONAL CARE AND COSMETICS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- AVERAGE PER CAPITA CONSUMPTION OF PLANT PROTEIN, GRAM PER DAY, ASIA-PACIFIC, 2017 - 2029
- Figure 16:
- PLANT PROTEIN RAW MATERIALS PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2022
- Figure 17:
- VOLUME OF PLANT PROTEIN MARKET, TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE OF PLANT PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 19:
- VOLUME OF PLANT PROTEIN MARKET BY PROTEIN TYPE, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 20:
- VALUE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 22:
- VOLUME SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 23:
- VOLUME OF HEMP PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VALUE OF HEMP PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 25:
- VALUE SHARE OF HEMP PROTEIN MARKET BY END USER, % HEMP PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 26:
- VOLUME OF PEA PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VALUE OF PEA PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 28:
- VALUE SHARE OF PEA PROTEIN MARKET BY END USER, % PEA PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 29:
- VOLUME OF POTATO PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 30:
- VALUE OF POTATO PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 31:
- VALUE SHARE OF POTATO PROTEIN MARKET BY END USER, % POTATO PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 32:
- VOLUME OF RICE PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 33:
- VALUE OF RICE PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE SHARE OF RICE PROTEIN MARKET BY END USER, % RICE PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 35:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 36:
- VALUE OF SOY PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 37:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % SOY PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 38:
- VOLUME OF WHEAT PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 39:
- VALUE OF WHEAT PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 40:
- VALUE SHARE OF WHEAT PROTEIN MARKET BY END USER, % WHEAT PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 41:
- VOLUME OF OTHER PLANT PROTEIN MARKET, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 42:
- VALUE OF OTHER PLANT PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 43:
- VALUE SHARE OF OTHER PLANT PROTEIN MARKET BY END USER, % OTHER PLANT PROTEIN , ASIA-PACIFIC, 2022 VS 2029
- Figure 44:
- VOLUME OF PLANT PROTEIN MARKET BY END USER, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 45:
- VALUE OF PLANT PROTEIN MARKET BY END USER, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 46:
- VALUE SHARE OF PLANT PROTEIN MARKET BY END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 47:
- VOLUME SHARE OF PLANT PROTEIN MARKET BY END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 48:
- VOLUME OF PLANT PROTEIN MARKET, ANIMAL FEED, ASIA-PACIFIC, 2017 - 2029
- Figure 49:
- VALUE OF PLANT PROTEIN MARKET, ANIMAL FEED, ASIA-PACIFIC, 2017 - 2029
- Figure 50:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % ANIMAL FEED , ASIA-PACIFIC, 2022 VS 2029
- Figure 51:
- VOLUME OF PLANT PROTEIN MARKET, FOOD AND BEVERAGES END USER, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 52:
- VALUE OF PLANT PROTEIN MARKET, FOOD AND BEVERAGES END USER, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 53:
- VALUE SHARE OF PLANT PROTEIN MARKET BY FOOD AND BEVERAGES END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 54:
- VOLUME SHARE OF PLANT PROTEIN MARKET BY FOOD AND BEVERAGES END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 55:
- VOLUME OF PLANT PROTEIN MARKET, BAKERY, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 56:
- VALUE OF PLANT PROTEIN MARKET, BAKERY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 57:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % BAKERY , ASIA-PACIFIC, 2022 VS 2029
- Figure 58:
- VOLUME OF PLANT PROTEIN MARKET, BEVERAGES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 59:
- VALUE OF PLANT PROTEIN MARKET, BEVERAGES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 60:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % BEVERAGES , ASIA-PACIFIC, 2022 VS 2029
- Figure 61:
- VOLUME OF PLANT PROTEIN MARKET, BREAKFAST CEREALS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 62:
- VALUE OF PLANT PROTEIN MARKET, BREAKFAST CEREALS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 63:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % BREAKFAST CEREALS , ASIA-PACIFIC, 2022 VS 2029
- Figure 64:
- VOLUME OF PLANT PROTEIN MARKET, CONDIMENTS/SAUCES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 65:
- VALUE OF PLANT PROTEIN MARKET, CONDIMENTS/SAUCES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 66:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % CONDIMENTS/SAUCES , ASIA-PACIFIC, 2022 VS 2029
- Figure 67:
- VOLUME OF PLANT PROTEIN MARKET, CONFECTIONERY, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 68:
- VALUE OF PLANT PROTEIN MARKET, CONFECTIONERY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 69:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % CONFECTIONERY , ASIA-PACIFIC, 2022 VS 2029
- Figure 70:
- VOLUME OF PLANT PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 71:
- VALUE OF PLANT PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 72:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % DAIRY AND DAIRY ALTERNATIVE PRODUCTS , ASIA-PACIFIC, 2022 VS 2029
- Figure 73:
- VOLUME OF PLANT PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 74:
- VALUE OF PLANT PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 75:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS , ASIA-PACIFIC, 2022 VS 2029
- Figure 76:
- VOLUME OF PLANT PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 77:
- VALUE OF PLANT PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 78:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % RTE/RTC FOOD PRODUCTS , ASIA-PACIFIC, 2022 VS 2029
- Figure 79:
- VOLUME OF PLANT PROTEIN MARKET, SNACKS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 80:
- VALUE OF PLANT PROTEIN MARKET, SNACKS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 81:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % SNACKS , ASIA-PACIFIC, 2022 VS 2029
- Figure 82:
- VOLUME OF PLANT PROTEIN MARKET, PERSONAL CARE AND COSMETICS, ASIA-PACIFIC, 2017 - 2029
- Figure 83:
- VALUE OF PLANT PROTEIN MARKET, PERSONAL CARE AND COSMETICS, ASIA-PACIFIC, 2017 - 2029
- Figure 84:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % PERSONAL CARE AND COSMETICS , ASIA-PACIFIC, 2022 VS 2029
- Figure 85:
- VOLUME OF PLANT PROTEIN MARKET, SUPPLEMENTS END USER, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 86:
- VALUE OF PLANT PROTEIN MARKET, SUPPLEMENTS END USER, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 87:
- VALUE SHARE OF PLANT PROTEIN MARKET BY SUPPLEMENTS END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 88:
- VOLUME SHARE OF PLANT PROTEIN MARKET BY SUPPLEMENTS END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 89:
- VOLUME OF PLANT PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 90:
- VALUE OF PLANT PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 91:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % BABY FOOD AND INFANT FORMULA , ASIA-PACIFIC, 2022 VS 2029
- Figure 92:
- VOLUME OF PLANT PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 93:
- VALUE OF PLANT PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 94:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % ELDERLY NUTRITION AND MEDICAL NUTRITION , ASIA-PACIFIC, 2022 VS 2029
- Figure 95:
- VOLUME OF PLANT PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 96:
- VALUE OF PLANT PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 97:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % SPORT/PERFORMANCE NUTRITION , ASIA-PACIFIC, 2022 VS 2029
- Figure 98:
- VOLUME OF PLANT PROTEIN MARKET BY COUNTRY, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 99:
- VALUE OF PLANT PROTEIN MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 100:
- VALUE SHARE OF PLANT PROTEIN MARKET BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 101:
- VOLUME SHARE OF PLANT PROTEIN MARKET BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 102:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, AUSTRALIA, 2017 - 2029
- Figure 103:
- VALUE OF PLANT PROTEIN MARKET, USD, AUSTRALIA, 2017 - 2029
- Figure 104:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , AUSTRALIA, 2022 VS 2029
- Figure 105:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, CHINA, 2017 - 2029
- Figure 106:
- VALUE OF PLANT PROTEIN MARKET, USD, CHINA, 2017 - 2029
- Figure 107:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , CHINA, 2022 VS 2029
- Figure 108:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, INDIA, 2017 - 2029
- Figure 109:
- VALUE OF PLANT PROTEIN MARKET, USD, INDIA, 2017 - 2029
- Figure 110:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , INDIA, 2022 VS 2029
- Figure 111:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, INDONESIA, 2017 - 2029
- Figure 112:
- VALUE OF PLANT PROTEIN MARKET, USD, INDONESIA, 2017 - 2029
- Figure 113:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , INDONESIA, 2022 VS 2029
- Figure 114:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, JAPAN, 2017 - 2029
- Figure 115:
- VALUE OF PLANT PROTEIN MARKET, USD, JAPAN, 2017 - 2029
- Figure 116:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , JAPAN, 2022 VS 2029
- Figure 117:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, MALAYSIA, 2017 - 2029
- Figure 118:
- VALUE OF PLANT PROTEIN MARKET, USD, MALAYSIA, 2017 - 2029
- Figure 119:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , MALAYSIA, 2022 VS 2029
- Figure 120:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, NEW ZEALAND, 2017 - 2029
- Figure 121:
- VALUE OF PLANT PROTEIN MARKET, USD, NEW ZEALAND, 2017 - 2029
- Figure 122:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , NEW ZEALAND, 2022 VS 2029
- Figure 123:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 124:
- VALUE OF PLANT PROTEIN MARKET, USD, SOUTH KOREA, 2017 - 2029
- Figure 125:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , SOUTH KOREA, 2022 VS 2029
- Figure 126:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, THAILAND, 2017 - 2029
- Figure 127:
- VALUE OF PLANT PROTEIN MARKET, USD, THAILAND, 2017 - 2029
- Figure 128:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , THAILAND, 2022 VS 2029
- Figure 129:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, VIETNAM, 2017 - 2029
- Figure 130:
- VALUE OF PLANT PROTEIN MARKET, USD, VIETNAM, 2017 - 2029
- Figure 131:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , VIETNAM, 2022 VS 2029
- Figure 132:
- VOLUME OF PLANT PROTEIN MARKET, METRIC TONNES, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 133:
- VALUE OF PLANT PROTEIN MARKET, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 134:
- VALUE SHARE OF PLANT PROTEIN MARKET BY PROTEIN TYPE, % , REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 135:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, ASIA-PACIFIC PLANT PROTEIN INGREDIENTS MARKET, 2017 - 2022
- Figure 136:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2017 - 2022
- Figure 137:
- VALUE SHARE OF MAJOR PLAYERS, %, ASIA-PACIFIC PLANT PROTEIN INGREDIENTS MARKET, 2021
Asia-Pacific Plant Protein Ingredients Industry Segmentation
Hemp Protein, Pea Protein, Potato Protein, Rice Protein, Soy Protein, Wheat Protein are covered as segments by Protein Type. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User. Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, South Korea, Thailand, Vietnam are covered as segments by Country.
- By application, the food and beverage industry is the leading application sector for plant proteins in the region. The increasing demand for protein functionalities and awareness about protein-rich diets primarily drives the demand for proteins in the F&B industry. Under the F&B segment, the meat/poultry/seafood and meat alternative products sub-segment accounted for the major volume share of 44.2% in 2022. Plant proteins can replace meat, making meat products available for vegan consumers in the region. The region is highly dominated by the consumer base in China, followed by India, the region with the highest vegetarian population in the world. Proteins such as soy, wheat, and rice proteins have the maximum market share in the segment.
- However, the snacks sub-segment is the fastest-growing sub-segment, projected to record a CAGR of 6.81%, by value, during the forecast period. By protein, soy protein holds significant demand in the category. Studies showed that soy protein snacking improves appetite control and diet quality among teenagers, thus driving its demand. It also offers tremendous versatility in snack compositions, with up to 25g of protein per serving.
- The animal feed segment is the second leading segment, and it is projected to register a CAGR of 6.11%, by value, during the forecast period. Plant proteins have numerous advantages like pea protein can be fed to various livestock species, such as ruminants, poultry, pigs, and aquafeed and pet food. The demand for plant proteins is increasing in feeds due to their functionalities, such as providing the binding required for the pellet or granule forms of feed (their water insolubility decreases pellet breakdown).
| Protein Type | Hemp Protein | ||
| Pea Protein | |||
| Potato Protein | |||
| Rice Protein | |||
| Soy Protein | |||
| Wheat Protein | |||
| Other Plant Protein | |||
| End User | Animal Feed | ||
| Food and Beverages | By Sub End User | Bakery | |
| Beverages | |||
| Breakfast Cereals | |||
| Condiments/Sauces | |||
| Confectionery | |||
| Dairy and Dairy Alternative Products | |||
| Meat/Poultry/Seafood and Meat Alternative Products | |||
| RTE/RTC Food Products | |||
| Snacks | |||
| Personal Care and Cosmetics | |||
| Supplements | By Sub End User | Baby Food and Infant Formula | |
| Elderly Nutrition and Medical Nutrition | |||
| Sport/Performance Nutrition | |||
| Country | Australia | ||
| China | |||
| India | |||
| Indonesia | |||
| Japan | |||
| Malaysia | |||
| New Zealand | |||
| South Korea | |||
| Thailand | |||
| Vietnam | |||
| Rest of Asia-Pacific |
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Market Definition
- End User - The Protein Ingredients Market operates on a B2B basis. Food, Beverages, Supplements, Animal Feed, and Personal Care & Cosmetic manufacturers are considered to be end-consumers in the market studied. The scope excludes manufacturers buying liquid/dry whey to be used for application as a binding agent or thickener or other non-protein applications.
- Penetration Rate - Penetration Rate is defined as the percentage of Protein-Fortified End User Market Volume in the Overall End User Market Volume.
- Average Protein Content - Average protein content is the average protein content present per 100 g of product manufactured by all end-user companies considered under the scope of this report.
- End User Market Volume - End-user market volume is the consolidated volume of all types and forms of end-user products in the country or region.
| Keyword | Definition |
|---|---|
| Alpha-lactalbumin (α-Lactalbumin) | It is a protein that regulates the production of lactose in the milk of almost all mammalian species. |
| Amino acid | It is an organic compound that contains both amino and carboxylic acid functional groups, which are required for the synthesis of body protein and other important nitrogen-containing compounds, such as creatine, peptide hormones, and some neurotransmitters. |
| Blanching | It is the process of briefly heating vegetables with steam or boiling water. |
| BRC | British Retail Consortium |
| Bread improver | It is a flour-based blend of several components with specific functional properties designed to modify dough characteristics and give quality attributes to bread. |
| BSF | Black Soldier Fly |
| Caseinate | It is a substance produced by adding an alkali to acid casein, a derivative of casein. |
| Celiac disease | Celiac disease is an immune reaction to eating gluten, a protein found in wheat, barley, and rye. |
| Colostrum | It is a milky fluid that’s released by mammals that have recently given birth before breast milk production begins. |
| Concentrate | It is the least processed form of protein and has a protein content ranging from 40-90% by weight. |
| Dry protein basis | It refers to the percentage of "pure protein" present in a supplement after the water in it is completely removed through heat. |
| Dry whey | It is the product resulting from drying fresh whey which has been pasteurized and to which nothing has been added as a preservative. |
| Egg protein | It is a mixture of individual proteins, including ovalbumin, ovomucoid, ovoglobulin, conalbumin, vitellin, and vitellenin. |
| Emulsifier | It is a food additive that facilitates the blending of foods that are immiscible with one another, such as oil and water. |
| Enrichment | It is the process of addition of micronutrients that are lost during the processing of the product. |
| ERS | Economic Research Service of the USDA |
| Extrusion | It is the process of forcing soft mixed ingredients through an opening in a perforated plate or die designed to produce the required shape. The extruded food is then cut to a specific size by blades. |
| Fava | Also known as Faba, it is another word for yellow split beans. |
| FDA | Food and Drug Administration |
| Flaking | It is a process in which typically a cereal grain (like corn, wheat, or rice) is broken down into grits, cooked with flavors and syrups, and then pressed into flakes between cooled rollers. |
| Foaming agent | It is a food ingredient that makes it possible to form or maintain a uniform dispersion of a gaseous phase in a liquid or solid food. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Fortification | It is the deliberate addition of micronutrients that are not found in them naturally or which are lost during processing, to improve a food product's nutritional value. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gelling agent | It is an ingredient that functions as a stabilizer and thickener to provide thickening without stiffness through the formation of gel. |
| GHG | Greenhouse Gas |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley. |
| Hemp | It is a botanical class of Cannabis sativa cultivars grown specifically for industrial or medicinal use. |
| Hydrolysate | It is a form of protein manufactured by exposing the protein to enzymes that can partially break the bonds between the protein's amino acids and break down large, complicated proteins into smaller pieces. Its processing makes it easier and quicker to digest. |
| Hypoallergenic | It refers to a substance that causes fewer allergic reactions. |
| Isolate | It is the purest and most processed form of protein which has undergone separation to obtain a pure protein fraction. It typically contains ≥ 90% of protein by weight. |
| Keratin | It is a protein that helps form hair, nails, and the outer layer of skin. |
| Lactalbumin | It is the albumin contained in milk and obtained from whey. |
| Lactoferrin | It is an iron‑binding glycoprotein that is present in the milk of most mammals. |
| Lupin | It is the yellow legume seeds of the genus Lupinus. |
| Millenial | Also known as Generation Y or Gen Y, it refers to the people born from 1981 to 1996. |
| Monogastric | It refers to an animal with a single-compartmented stomach. Examples of monogastric include humans, poultry, pigs, horses, rabbits, dogs, and cats. Most monogastric are generally unable to digest much cellulose food materials such as grasses. |
| MPC | Milk protein concentrate |
| MPI | Milk protein isolate |
| MSPI | Methylated soy protein isolate |
| Mycoprotein | Mycoprotein is a form of single-cell protein, also known as fungal protein, derived from fungi for human consumption. |
| Nutricosmetics | It is a category of products and ingredients that act as nutritional supplements to care for skin, nails, and hair natural beauty. |
| Osteoporosis | It is a medical condition in which the bones become brittle and fragile from loss of tissue, typically as a result of hormonal changes, or deficiency of calcium or vitamin D. |
| PDCAAS | Protein digestibility-corrected amino acid score (PDCAAS) is a method of evaluating the quality of a protein based on both the amino acid requirements of humans and their ability to digest it. |
| Per-capita consumption of animal protein | It is the average amount of animal protein (such as milk, whey, gelatin, collagen, and egg proteins) that is readily available for consumption by each person in an actual population. |
| Per-capita consumption of plant protein | It is the average amount of plant protein (such as soy, wheat, pea, oat, and hemp proteins) that is readily available for consumption by each person in an actual population. |
| Quorn | It is a microbial protein manufactured using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten. |
| RTD | Ready-to-Drink |
| RTS | Ready-to-Serve |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Softgel | It is a gelatin-based capsule with a liquid fill. |
| SPC | Soy protein concentrate |
| SPI | Soy protein isolate |
| Spirulina | It is a biomass of cyanobacteria that can be consumed by humans and animals. |
| Stabilizer | It is an ingredient added to food products to help maintain or enhance their original texture, and physical and chemical characteristics. |
| Supplementation | It is the consumption or provision of concentrated sources of nutrients or other substances that are intended to supplement nutrients in the diet and is intended to correct nutritional deficiencies. |
| Texturant | It is a specific type of food ingredient that is used to control and alter the mouthfeel and texture of food and beverage products. |
| Thickener | It is an ingredient that is used to increase the viscosity of a liquid or dough and make it thicker, without substantially changing its other properties. |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| TSP | Textured soy protein |
| TVP | Textured vegetable protein |
| WPC | Whey protein concentrate |
| WPI | Whey protein isolate |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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