China plant protein market is projected to grow at a CAGR of 6.83% during the forecast period.China holds the third position on life expectancy in the whole world followed by Japan and the US, which is attributable to the decent food and beverage consumption practices and the growing adoption of plant-based protein in order to mitigate the threats associated with living a sedentary lifestyle. This kind of lifestyle is prevalent among a majority of the middle-aged population and younger generation, with limited interest shown towards exercise or staying fit, therefore with more people getting aware about spending more on better quality and better protein sources, the demand for alternative sources for protein is increasing.
Furthermore, product offerings are one of the initiatives that are being taken by the market players, so that they are able to maximize their profits, gain a competitive edge over their rivals, and fulfill the ever-rising demand of enhanced plant protein products and provide a boost to the market growth. For instance, RoquetteFrères,one of the leading companies dealing with the provision plant products derived from corn, potato among others. of offers their product “NUTRALYS Pea Protein”, which is a product offering under the NUTRALYS range, is able to facilitate the provision of the perfect amount of proteins to the individuals involved in sports. The composition of this pea protein product helps in the development of muscle mass, optimum nutrition and has high protein content. In addition, it is easily digestible, rich in arginine (about 8.7% per gram of protein), rich in BCAA’s (branched-chain amino acids) and glutamine, which are essential for peak sports performance. Another product that is offered by Roquette Frèresis the “GLUCIDEX – maltodextrins” to mainly cater to the senior consumers or the geriatric population. This product is created using non-Gm ingredients derived from plants such as corn, potato, and wheat, and its purpose is to provide optimum 100% glucose-based energy to the consumers. It is easily and highly digestible and offers a high level of digestive tolerance apart from being total gluten and lactose-free.
Pharmaceuticals to hold a significant share
By, application the market has been segmented on the basis of dietary supplements, food and beverages, pharmaceuticals, and animal feed. Pharmaceuticals are estimated to hold a noteworthy share in the market, which is attributable to the fact that there are increasing investments and partnerships by the pharmaceutical players to bolster the development of the pharmaceutical industry. For instance, in September 2019, iBio, one of the leading companies involved in the development of plant-based pharmaceuticals announced that they have extended their partnership agreement with the CC-Pharming. Under this extension of the agreement, CC-pharming will commercialize iBio’s pharma product Rituximab, which is used to treat several autoimmune diseases. Additionally, CC-Pharming has also been given approval to conduct research activities, which will allow it to facilitate the establishment of plant-based manufacturing technology facility FastPharming in China.