Plant Protein Beverage Market CAGR and Revenue in 2023 and Forecast 2029

Plant Protein Beverage Market Summary

Traditional plant protein beverages are made from plant cores or seeds (which can be soybeans, peanuts, walnuts, coconuts, almonds, or pine nuts, etc.) and undergo raw material pretreatment, soaking or baking, grinding, and degassing. ingredients, homogenization, filling, sealing, sterilization and cooling of beverages. The beverage requires that the protein content of its nutritional ingredients be greater than 1% and the fat content be greater than 0.5%; there should be no fat floating and no protein sinking during the shelf life; and there should be no obvious stratification or flocculation. For most ordinary people, plant milk can play a complementary role. Drinking it in rotation with milk can achieve nutritional complementation and achieve a more balanced diet and nutritional structure. For certain groups of people with lactose intolerance and gastrointestinal discomfort, plant milk can replace milk and meet their protein intake needs through drinks. Specifically, since mammal milk itself contains lactose, almost all animal protein drinks made from this milk contain lactose. Plant protein drinks do not produce lactose during the fermentation process, and after plant protein is fermented by lactic acid bacteria, it is easier for the body to absorb. It is a good choice for people with lactose intolerance and intestinal discomfort.

According to QYResearch’s latest research report, China’s plant protein beverage market is expected to reach 225.2 billion yuan in 2029, with a CAGR of 7.6% in the next few years.

• Global Plant Protein Beverage MarketSize(US$ Billion), 2018-2029

Based on or includes research from QYResearch: Global Plant Protein Beverage Market Report 2023-2029.

Market Drivers:

The increase in disposable income has made Chinese residents pay more attention to the quality of consumption and promoted consumption upgrading. Chinese consumers' demand for food and beverages is concentrated on nutrition, rich taste and variety diversity. Young consumers prefer healthy, safe and high-quality foods. Food and beverages. Protein beverages contain whey protein, plant protein and a variety of active ingredients. They are rich in nutrients and can provide diversified tastes. They are favored by consumers. This has led to the increasing demand for protein beverages in my country, providing a It provides a large potential market.

Plant-based protein beverages continue to expand in taste and flavor. An increasing number of plant-based protein drinks have a taste and flavor similar to milk, making them easier for consumers to accept.

The price of plant-based protein drinks is gradually declining. With the advancement of production technology, the production cost of plant protein beverages continues to decrease, which makes their prices more competitive.

Restraint:

Insufficient consumer awareness: Some consumers still believe that plant protein drinks are not as nutritious as milk drinks, which hinders the consumption of plant protein drinks.

Product homogeneity: The homogeneity of plant protein beverage products on the market is serious, which leaves consumers with a lack of choices.

Dispersed channels: The sales channels of plant protein beverages are relatively dispersed, which increases the purchase cost for consumers.

• Global Plant Protein Beverage Top5Players Ranking and Market Share（Continually updated）

Based on or includes research from QYResearch: Global Plant Protein Beverage Market Report 2023-2029.

On the whole, China's entire plant protein beverage market shows a high degree of concentration in subdivisions, but a scattered overall structure. Traditional plant protein beverage brands that started earlier are still the mainstream in the domestic market. Major leading companies have anchored different plant protein beverage market segments, forming a pattern in which leading companies are divided and dominate in their respective tracks. Among them, companies that entered the industry earlier, such as Yangyuan Beverages, Chengde Lulu, and Dali Foods, have a relatively stable position in the fiercely competitive market by virtue of their accumulated consumer base and well-known products. However, due to the large number of companies and the rich variety of plant protein beverages, the industry competition landscape is relatively scattered and the degree of concentration is not high.

Analysis of major manufacturers

1 Yangyuan ZhiHui Beverage

Yangyuan ZhiHui Beverage is China’s leading plant protein beverage company. As a walnut beverage company in China integrating R&D, production and sales, Yangyuan Beverage has led, drafted and participated in the walnut milk industry standards and national standards, leading the standardized development of the industry. Yangyuan Beverage has five major production and processing bases in Hengshui, Hebei, Chuzhou, Anhui, Yingtan, Jiangxi, Luohe, Henan, and Jianyang, Sichuan. Its production and sales scale ranks at the forefront of the industry. Its market share is 5.44%, and it has the largest market share. In 2022, Yangyuan Beverage Walnut milk revenue is 5.645 billion yuan

2 Cheng De Lolo

Cheng De Lolo is the largest almond milk manufacturer in the country, with a market share of 90% in its category. It is a pioneer in the field of plant protein in China. Undoubtedly, Lolo has been It is one of the well-deserved industry leaders. As the starting point for the development of Chinese plant protein beverage market, Chengde Lolo was established in 1997. It is currently mainly engaged in the production and sales of plant protein beverages. Its main product is "Lulu" almond milk. Chengde Lolo's sales model is divided into online sales and offline sales. Its offline sales are mainly distribution, supplemented by direct sales; its production model is based on sales and the procurement model is centralized purchasing.

3 Dali Food

As a private food and beverage company, Dali Foods has established a leadership position in multiple mainstream product categories over the past 30 years, and eventually grew into an industry leading company. From the food industry to the beverage industry, from the snack food sector to the ready-to-drink beverage sector, and then to the household consumption sector, the "troika" has become the super driving force for companies to leapfrog the cycle. Through forward-looking industrial layout, Dali Food has successively created seven core brands worth more than 1 billion yuan: Daliyuan, Copico, Haochidian, Heqizheng, Lehu, Doubendou and Meibichen. The sales volume of the four core brands exceeds 2 billion yuan. The nationwide production capacity layout and extensive channel advantages allow Dali's new products to efficiently reach the widest range of consumers. The significant channel synergy also allows Dali to better unleash its strategic advantage of "multi-brand and multi-category". Such basic capabilities, coupled with future-oriented and continuous innovation capabilities, enable enterprises to transcend cycles and continue to grow.

• Plant Protein Beverage,Global Market Size, Split by Product Segment

Based on or includes research from QYResearch: Global Plant Protein Beverage Market Report 2023-2029.

In terms of raw materials, the most popular vegetable protein drinks in my country are soybeans, walnuts, almonds, and coconuts. Judging from the proportion of major market segments, the soy milk beverage market has been the largest market segment for plant protein beverages in my country in recent years, and its proportion continues to rise. Soy milk beverages, coconut milk beverages, walnut beverages, and almond beverages account for 26%, 3.7%, 11.2%, and 16.8% of the national plant protein beverage market respectively. However, as the nutritional value of more and more plants is discovered, the categories of plant protein beverages can continue to be enriched. Oats, peas, almonds, cashews, pistachios, etc. can also be utilized to make corresponding plant protein beverages. For example, in recent years, the nutritional value of oat milk has gradually become known because it contains soluble dietary fiber and other ingredients. Coupled with people's curiosity about new types of plant protein drinks, the market size has grown rapidly, reaching 4.23 billion yuan as of 2021, an increase from the previous year. An increase of 141.7%.

• Plant Protein Beverage,Global Market Size, Split by ApplicationSegment

Based on or includes research from QYResearch: Global Plant Protein Beverage Market Report 2023-2029.

In recent years, new procurement models such as fresh food e-commerce have been favored by Chinese consumers. In 2021, my country's fresh food e-commerce transaction scale will maintain a growth rate of 27.9%. With the continued development of fresh food e-commerce, various protein beverage brands are gradually paying attention to online Channel layout: establish self-operated direct sales flagship stores on major e-commerce platforms and conduct consignment sales through Tmall Supermarket and other platforms to better achieve full coverage of traditional and modern channels. Taking Liziyuan as an example, revenue from e-commerce channels continued to grow from 2017 to 2021, reaching 50 million yuan in 2021. In the future, in order to cater to the consumption habits of Chinese residents and better penetrate the protein beverage market, various protein beverage brands will accelerate the move of marketing channels online, accelerate the improvement of e-commerce network sales channels, and work together online and offline. Inspire greater growth potential.

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