Future of Protein Industry in China

Future of Protein Industry in China?

• The China protein market is projected to register a CAGR of 5.59% to reach 2.67 billion USD in 2026.?
• In China, the F&B segment remained the largest consumer of animal proteins, growing at a CAGR of 4.97%, by volume, during 2021-2026.?
• Fonterra Co-operative Group Limited emerged as the market leader, with a 5.9% share.?

Food & Beverage - Booming Segment in China?

• The food and beverage industry led the application sector for proteins in the region, accounting for a major volume share of 53.4%.?
• However, plant protein is anticipated to register the fastest CAGR of 5.49% by volume, during the forecast period?
• The demand for proteins in F&B is primarily driven by the increasing demand for protein functionalities, awareness about protein-rich diets, etc.?
• In the food and beverage category, the meat/poultry/seafood and meat alternative products segment accounted for the major volume share of 35.5%?
• In 2021, the Chinese government banned trade and intake of wild animals, heavily shifting dependence onto plant proteins.?

Game Plan of Key Players in China Protein Market?

• FrieslandCampina and Epi Ingredients, a part of La?ta, entered the whey and milk protein markets with the launch of Nutri Whey product and Epiprot 60 UL, respectively.?
• Product innovations and expansion remained the most adopted strategy by the key players in the market.?
• Wilmar International Limited announced the establishment of subsidiaries in China, namely Yihai Kerry (Fuyu) Oils and Grains & Foodstuffs Industries Co. Ltd, in order to expand its processing capacity and meet the export demand for soybean proteins and wheat starch.?

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