Malaysia Plant Protein Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Source (Pea, Rapeseed, Soy, Hempseed, Others), By Form (Protein Concentrates, Protein Isolates, Protein Hydrolysate), By Application (Dietary Supplement, Food And Beverages, Pharmaceuticals, Animal Feed), And By Distribution Channel (Online, Offline) - Forecasts From 2022 To 2027

The Malaysian plant protein market is projected to grow at a CAGR of 5.93%, from US$21.900 million in 2020 to US$32.771 million in 2027.

Pork is one of the most consumed meats in the country and is considered to be one of the prime ingredients and foodstuffs in Malaysian cuisine. However, this poses a danger to the health of individuals who consume excess pork in the population. This is shifting the demand towards premium protein products such as pea and soy-based protein and is increasing consumption among the younger population and middle-aged population, which is being facilitated by the rising propensity to spend among the middle-income and lower-income populations due to the increasing disposable income. In addition, the popularity of soy and pea protein is slowly growing and is leading to its gaining traction among the growing number of health-conscious individuals in the population as it is a complete and efficient protein source and provides much better health benefits, with limited health effects.

Increased plant-protein products by major firms in the country will support market expansion

The market players are upgrading their techniques, and operating capabilities, and launching new products with better flavour profiles and enhanced protein content to cater to the health-conscious population and further encourage adoption and affect the market growth positively over the forecast period.  In December 2019, Jack Yap, the founder, and CEO of Phuture Foods, a company that deals with the provision of plant protein-based meat alternatives to make people's diets meatless by promoting the consumption of healthy foods, announced the launch of a new pork alternative based entirely on plant proteins. It is called Pork-Free Minced Pork and is developed with non-GMO, soy proteins, chickpea proteins, and pea proteins. In comparison to regular animal protein-based minced pork, it offers a host of benefits.  It has 91% less fat and 66% fewer calories than pork, as well as Vitamin B12 and Iron, as well as a well-balanced profile of essential amino acids. It provides the required amount of fibre, and less cholesterol, which is present in high amounts in red meat. In addition, it has no presence of a trace of added hormones and no antibiotics, and has been certified as non-GMO, Kosher-friendly, Halal, and approved by the International Organization for Standardization and Hazard Analysis and Critical Control Points.

The online distribution channel is to increase its share

The market has been segmented by distribution channels; the market has been segmented by online and offline.  The online distribution channel is projected to grow significantly during the forecast period on account of the decent penetration of high-speed internet services throughout the country. This is coupled with the availability of cheaper mobile internet packs, which has enabled the population to use mobiles in order to shop for daily essentials through the rising e-commerce and e-retail platforms. The online services, apart from these reasons, are also able to provide the benefit of added convenience, and special discounts on bulk shopping among much more to the user, which is also contributing to the market share of this region.

Product Offerings in the market

• Lushprotein's Soy protein isolate is developed by rigorously processing defatted soybeans to eliminate the great majority of their fat and carbohydrate content. The end product has a minimum fat and carbohydrate content, 90 percent protein content, and an amino acid composition that closely resembles whey.
• Ingrideon's VITESSENCE® Pulse protein concentrates series is ideal for formulations with a focus on balanced nutrition, containing fibre and micronutrients in addition to 55 to 60 percent protein. With an 80 percent protein concentration, VITESSENCE® Pulse 1803 pea protein isolate, in particular, is excellent for protein fortification and makes it simple to meet front-of-pack "high protein" claims. Sourced from lentils, chickpeas, peas, and faba beans can be used in a wide range of applications, from snacks to dairy alternatives. 
• For the maintenance and growth of muscles throughout workout regimes, Dupoint's SUPRO® Soy Protein provides the appropriate ratio of necessary amino acids. It has been shown that SUPRO® Soy Protein reduces HDL cholesterol, which guards the heart, without lowering LDL cholesterol, total cholesterol, or triglycerides. These protein isolates are optimal for their use in ready-to-drink or powdered nutritional beverages. 

Key Developments

• In February 2022, Malaysia-based Amazin Grace expanded its plant-based protein portfolio with the introduction of two chocolate and vanilla-flavoured whey-free, plant-based protein mixes. Each serving has 30g of protein, 2 billion CFU of probiotics, and no added sugar. The ideal ratio of protein isolates of a pea, fava, and mung bean, as well as turmeric and green tea extracts for antioxidant and immune benefits, are found in this vegan protein blend.

COVID-19 Insights

COVID-19 had a significant impact on the Malaysian Plant proteins market. Amid the pandemic, the demand for the high protein diet increased overall health. This trend is reflected in the country's growth of the plant protein market. Nonetheless, the mandated lockdown and border restrictions had a significant impact on the overall market development.

Segmentation

• By Source
  • Pea
  • Rapeseed
  • Soy
  • Hempseed
  • Others
• By Form
  • Protein Concentrates
  • Protein Isolates
  • Protein Hydrolysate
• By Application
  • Dietary Supplement
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
• By Distribution Channel
  • Online
  • Offline