China Plant-based Food Market Research Report, 2028

China's plant-based food industry is experiencing a remarkable transformation, driven by a combination of factors, including changing dietary preferences, environmental awareness, health consciousness, and the influence of global food trends. As the world's most populous country with a rich culinary history, China is now witnessing a surge in demand for plant-based alternatives as consumers seek healthier, more sustainable, and ethical food choices. As Chinese consumers increasingly prioritise health and well-being, there is a growing interest in plant-based diets that are perceived as healthier and lower in cholesterol and saturated fats compared to traditional meat-based diets. Rapid urbanisation and exposure to Western lifestyles and diets have sparked interest in plant-based foods, which have become synonymous with modernity, health, and progressive values. Buddhism and Daoism have had a significant impact on Chinese culture, including dietary practises. Many Buddhists and Daoists follow vegetarian or vegan diets as part of their religious beliefs, promoting the consumption of plant-based foods and eschewing animal products. China's vast territory encompasses diverse regions, each with its own unique plant-based culinary traditions. For example, in regions like Sichuan, Guangdong, and Fujian, plant-based ingredients like tofu, mushrooms, and various vegetables are widely used in traditional dishes. During certain festivals and religious occasions, plant-based foods play a prominent role. For instance, during the Chinese New Year and the annual vegetarian festival, many Chinese families choose to abstain from meat and enjoy plant-based feasts. According to the research report "China Plant-Based Food Market Research Report, 2028," published by Actual Market Research, the China Plant-Based Food Market was valued at more than USD 8 Billion in 2022. Growing health consciousness among Chinese consumers is a major driver of the plant-based food industry. Many individuals are adopting plant-based diets due to the perceived health benefits, such as reduced risk of certain diseases and improved overall well-being. Further, the rising middle class in China has led to changes in dietary habits. Urbanisation has also influenced consumer lifestyles, with more people seeking convenient and healthier food options, including plant-based alternatives. 3D printing technology is being explored for its potential in customising plant-based food products to meet individual preferences and nutritional needs. This technology allows for the creation of complex food structures and textures, enhancing the variety of plant-based options available. Further, smart packaging solutions incorporating QR codes or RFID tags enable consumers to access detailed information about the product's origin, ingredients, and production methods. This enhances transparency and traceability in the plant-based food supply chain. Based on the products types includes the Plant-based Meat and Seafood, Plant-based Cheese, Plant-based Desserts, Plant-based Ice Cream, Plant-based Yoghurt, Plant-based Butter, Plant-based Bars, Plant-based Bakery Snacks and Confectionery, Plant-based Creamer, Plant Based Mayonnaise and Salad Dressing and other. In China, plant-based milk holds the highest market share. In addition to plant-based meat alternatives, Chinese scientists and companies are focusing on developing plant-based seafood alternatives. These products aim to address concerns related to overfishing and the environmental impact of the fishing industry. Further, China has shown interest in the emerging field of cell-based meat, or cultured meat, where animal cells are cultured in a lab to produce meat products without the need for traditional animal agriculture. Research and development in this area aim to create more sustainable and ethical alternatives to conventionally produced meat.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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There are several government initiatives regarding the plant-based food industry. China's Five-Year Plans include goals and targets related to sustainable agriculture, food security, and innovation. The government has incorporated the promotion of plant-based food technologies and production methods to achieve these objectives. The Chinese government has issued green development guidelines that encourage environmentally friendly practises in various industries, including food production. The plant-based food sector aligns with the goal of reducing the environmental impact of food consumption. The government has allocated funding for research and development in the plant-based food industry. This financial support aims to accelerate innovation, improve product quality, and enhance the competitiveness of domestic plant-based food companies. The Chinese government has introduced policies to support start-ups and small and medium-sized enterprises (SMEs) in the plant-based food sector. This support includes access to funding, tax incentives, and regulatory assistance to foster the growth of innovative businesses. Further, there are many start-ups in the country, including HERO Protein, a Shanghai-based start-up that specialises in developing plant-based meat products. They offer a variety of plant-based protein options suitable for traditional Chinese dishes. Haofood is a start-up known for producing plant-based chicken meat using a combination of peanut protein and other plant-based ingredients. Distribution channels include hypermarkets and Supermarkets, Convenience Stores, E-commerce, and others. In China, convenience stores will grow at the second highest market share Due to their strategic location in urban areas, including busy streets, commercial districts, transportation hubs, and residential neighbourhoods. Their accessibility and presence in densely populated areas make them convenient shopping destinations for consumers seeking quick and easy access to plant-based food options. Further, there are many stores that provide 7-Eleven, FamilyMart, Lawson, and more. Recent News: • In May 2022, one of the prominent plant-based meat suppliers Beyond Meat expanded in China following a new partnership with Chinese convenience shop Lawson. In accordance with the deal, two plant-based lunch boxes were supplied to more than 2,300 Lawson stores across the country. • In June 2021, LIVEKINDLY Collective has introduced two new vegan meat brands in an effort to meet Chinese customers' growing desire for plant-based foods and drinks. The flagship vegetarian meat products Giggling Pig and Happy Chicken were created to cater to Chinese culinary preferences. The seven products offered by the brands included dumplings, seasoned mince, and several meals made with mushrooms. • In January 2021, Thailand-based Sesamilk Foods announced its plans about targetting China and Taiwan as part of its expansion strategy abroad to increase export business from 30% to 80% by 2022-2023.

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Kripa Shah

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Considered in this report • Geography: China • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • China Plant-based Food with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Plant-based Milk • Plant-based Meat and Seafood (Tofu, Quorn, Seitan, Fish, TVP, Burger Patties, Tempeh, Hot Dogs and Sausages, Meatballs, Ground Meat, Nuggets, Crumbles, Shreds, Crab, shrimp, Others) • Plant-based Cheese • Plant-based Desserts (Cakes, Pastries, Custard, Pudding, etc.) • Plant-based Ice Cream • Plant-based Yogurt • Plant-based Butter • Plant-based Bars (Protein Bars, Energy Bars, Cereal Bars, Fruit & Nut Bars, etc.) • Plant-based Bakery Snacks and Confectionery (Biscuit and Cookies, Bread and Rolls, Chocolate, etc.) • Plant-based Creamer • Plant Based Mayonnaise and Salad Dressing • Others

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By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Plant-based Food industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.