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PLANT PROTEIN DRINKS-CHINA-FEBRUARY 2018

Published By :

Mintel

Published Date : Feb 2018

Category :

Non-Alcoholic Drinks

No. of Pages : N/A

The plant protein drinks industry needs to reinforce its image as a tasty drink with nutritional benefits to compete with other beverages including dairy drinks. In addition, launching more flavoured variants and introducing new ingredients such as cashew could help to boost appeal and increase consumption.
Table of contents
OVERVIEW
What you need to know
Covered in this report
Definition of household income:
Excluded
EXECUTIVE SUMMARY
The market
Sluggish growth for value, volume stays flat
Figure 1: Best- and worst-case forecast of plant protein drinks market value, China, 2012-22
Figure 2: Best- and Worst-case Forecast of Plant Protein Drink Market Volume, China, 2012-22
New product development picks up, while premiumisation has a long way to go
Soy segment has the strongest performance
Figure 3: Market value in RMB billions of plant protein drinks, China, 2013-17
Companies and brands
Yangyuan still leads in the market, though losing share
Expanding usage occasions and investing in branding
Flavour, taste and health claims are key focus areas for product development
The consumer
Beans are well recognised as good protein sources
Figure 4: Perception towards protein sources, November 2017
Coconut leads in penetration while soy has the highest frequency
Figure 5: Drinking frequency, November 2017
Marketing and advertising efforts of Six Walnut paid off
Figure 6: Brands used most often word cloud, November 2017
Good taste and rich in nutrition are most important purchase criteria
Figure 7: Reason for brand preference word cloud, November 2017
Red date is the most interested new ingredient
Figure 8: New ingredient interest, November 2017
Single ingredient, rich taste, flavoured and nutritional benefits make the ideal product
Figure 9: Attitudes towards plant protein prinks, November 2017
What we think
ISSUES AND INSIGHTS
How could soy drinks continue the growth
The facts
The implications
How to compete with milk?
The facts
The implications
What are potential new opportunities regarding ingredients and flavours?
The facts
The implications
THE MARKET WHAT YOU NEED TO KNOW
The market keeps slowing down
New product launching and higher-end offering to fight against decrease
The growth of soy makes up for the decrease of walnut and almond
MARKET SIZE AND FORECAST
Sluggish market value growth
Figure 10: Best- and worst-case forecast of plant protein drink market value, China, 2012-22
Figure 11: Share of plant protein prinks as of all non-alcoholic drinks, 2013-17
Production of plant protein drinks keeps slowing down
Figure 12: Best- and worst-case forecast of plant protein drink market volume, China, 2012-22
MARKET FACTORS
Low frequency a key barrier
Re-activated new product launch activities since 2017
Figure 13: New product launch in China amongst all plant protein drinks launched globally, 2013-17
Figure 14: Plant protein drinks new launch type, China, 2013-2017
Market offerings going premium
Figure 15: Average new product price in USD, China, 2013-17
Figure 16: Packaging percentage of all plant protein products, 2013-17
MARKET SEGMENTATION
The growth of soy makes up the fluctuating market
Figure 17: Market value in RMB billion of plant protein drinks, China, 2013-17
Figure 18: Plant protein drinks market volume in million litres, China, 2013-17
Soy is the most dynamic segment
Figure 19: Share of new products launched in China, by segment, 2013-17
KEY PLAYERS WHAT YOU NEED TO KNOW
Regional players uprising
Offering tasty drinks as nutritional supplements
MARKET SHARE
Yangyuan still leads the market
Figure 20: Company retail value share, China, 2014-17
Competition intensifies
COMPETITIVE STRATEGIES
Taking advantage of seasonality
Figure 21: Zhi Chang Xin Ren stored in thermal container China, 2018
Special care for children
Figure 22: Viee highlighting special care for baby2018
Nurturing meal time consumption
Figure 23: Yinlu Peanut Milk as food ingredient, China, 2018
Justifying well-being benefits with TCM (Traditional Chinese Medicine) ingredients
Figure 24: New launched plant protein drinks in China based featuring brown rice
Playing up brand heritage vs rejuvenating the brand
Figure 25: Coconut Palm highlighting its history, China, 2018
Figure 26: Weiwei creates a younger image to reach younger generation, China, 2018
WHOS INNOVATING?
Launching more indulgent flavours
Figure 27: Top flavours of plant protein drinks, China, 2013-17
Figure 28: New launched plant protein drinks in china with special taste or ingredients
Rise of healthy claims
Figure 29: Top claims of plant protein drink, China, 2013-17
Figure 30: New launched plant protein drinks in China with health claims
Figure 31: Benefit Shakes highlighting vitamin supplement, UK, November 2017
Make it light vs make it rich
Figure 32: Selected plant protein drinks highlighting light taste
Figure 33: Selected plant protein drinks featuring rich taste
Nuts rising in the global market
Figure 34: Selected plant protein drinks featuring nuts
THE CONSUMER WHAT YOU NEED TO KNOW
Plant protein is recognised as a good source of protein
Coconut is more popular but soybean is consumed more frequently
Established brands are used more often, though brand name is not the most critical purchase factor
Enriching flavours to achieve future growth
PERCEPTIONS TOWARDS PROTEIN SOURCES
Nuts and beans are most popular plant protein sources
Figure 35: Perception towards protein sources, November 2017
Potential opportunity to target females with the quality of plant protein
Figure 36: Perception towards protein sources high quality protein, by gender, November 2017
DRINKING FREQUENCY
Coconut enjoys highest penetration
Figure 37: Usage penetration for plant protein drinks, November 2017
Male consumers are interested in peanut and coconut
Figure 38: Plant protein drinks penetration, by gender, November 2017
Figure 39: Plant protein drinks penetration, by children in household, November 2017
Figure 40: Plant protein drinks penetration, by city tier, November 2017
Soy drinks consumption frequency nearly doubles that of almonds
Figure 41: Drinking frequency, November 2017
Gender gap lies in grain, walnut and almond drinks
Figure 42: Average purchase frequency per month, by demographics, November 2017
BRAND USED MOST OFTEN
Six Walnuts is the leading brand, followed by Coconut Palm and Lolo
Figure 43: Top brands used most often (unaided mentions), November 2017
Soy based drinks fall behind owing to a lack of a dominant brand
Figure 44: Brands used most often, by segment (unaided mentions), November 2017
Figure 45: Brands used most often by heavy users, by segment (unaided mentions), November 2017
REASON FOR BRAND PREFERENCE
Taste is more important than nutrition
Figure 45: Reason for brand preference (netted), November 2017
Figure 46: Reason for brand preference Word Cloud, November 2017
Taste vs nutrition among different consumer groups
Figure 47: Reason for brand preference, by age group, November 2017
Figure 48: Reason for brand preference, by household income level, November 2017
Brand differentiators go beyond taste and nutrition
Figure 49: Reason for brand preference, by leading brands heavy users, November 2017
Figure 50: Special Arms usage occasion advertisement, China, December 2017
INTEREST IN NEW INGREDIENTS
Red dates and cashew are the most favourable new ingredients
Figure 51: New ingredient interest, November 2017
Soy drink heavy users prefer red bean
Figure 52: New ingredient interest by heavy users, very interested, November 2017
ATTITUDES TOWARDS PLANT PROTEIN DRINKS
Prefer single ingredient and rich taste
Figure 53: Attitudes towards plant protein drinks ingredients and tastes, November 2017
Flavoured is welcomed regardless of subsidence
Figure 54: Attitudes towards plant protein drinks subsidence and flavour, November 2017
Figure 55: Subsidence preference vs ingredients and taste, November 2017
Uncertain about heathy claim comparison but definite about nutritional supplement
Figure 56: Attitudes towards plant protein drinks use and health, November 2017
MEET THE MINTROPOLITANS
More in favour of certain plant protein ingredients
Figure 57: Perception towards various protein sources rich in protein, by consumer classification, November 2017
Figure 58: Perception towards various protein sources high quality protein, by consumer classification, November 2017
Higher penetration
Figure 59: Plant protein drinks penetration, by consumer classification, November 2017
Pay more attention on nutrition
Figure 60: Reason for brand preference, by consumer classification, November 201
More open to new ingredients
Figure 61: Interest in new ingredients, by consumer classification, November 2017
Regard plant protein drink a beverage healthier than dairy
Figure 62: Attitudes towards plant protein drinks use and health, by consumers classification, November 2017
APPENDIX MARKET SIZE AND FORECAST
Figure 63: Market value for plant protein drinks, China, 2012-22
Figure 64: Market volume for plant protein drinks, China, 2012-22
APPENDIX MARKET SEGMENTATION
Figure 65: Market value for plant protein drinks, by segment, China, 2012-22
Figure 66: Market volume for plant protein drinks, by segment, China, 2012-22
APPENDIX METHODOLOGY AND ABBREVIATIONS
Methodology
Fan chart forecast
Abbreviations

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