2021
0
China Plant-based Drinks Market Report 2021
2021-06-10T04:06:08+01:00
OX1046225
3695
139275
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Report
en_GB
“The plant-based drinks market is expected to bounce back quickly to pre-pandemic levels but growth will remain slow in the long run. To stand out amid intense competition, brands should…

China Plant-based Drinks Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

“The plant-based drinks market is expected to bounce back quickly to pre-pandemic levels but growth will remain slow in the long run. To stand out amid intense competition, brands should accelerate the pace of their product innovation to serve different need spaces. They could also expand into other beverage categories to broaden consumption occasions and ultimately increase retail sales.”
– Joy Yin, Senior Research Analyst

This Report covers the following areas:

  • The total market value and volume in 2020 and projections for 2021-2025
  • Market factors from both consumer and market sides
  • Competitive strategies in marketing channels and product portfolio
  • Global and China launch activity and product innovation
  • Penetration rate of different plant protein sources and consumers’ perceptions towards them
  • Market growth opportunities through product innovation and expansion into other beverage categories

Table of Contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
        • Covered in this Report
          • Excluded
          • Executive Summary

              • The market
                • Market value and volume returning to pre-COVID levels
                  • Figure 1: Retail market value of plant-based drinks, China, 2015-2025
                  • Figure 2: Market volume of plant-based drinks, China, 2015-2025
                • Intense competition with a slow pace of innovation
                  • Soy segment has stable growth but the future lies in non-traditional sectors
                    • Figure 3: Value share of PPD segments, China, 2018-2020
                  • Companies and brands
                    • Declining market share of Yangyuan and Yinlu
                      • The rise of Dou Ben Dou
                        • Expansion strategy into other categories
                          • Innovation focuses on functionality and diversity
                            • Possible future trends toward sustainability and personalization
                              • Figure 4: Company retail value share, China, 2018-2020
                            • The consumer
                              • Oat catches up quickly while plant-based yogurt has a low penetration rate
                                • Figure 5: Consumption frequency, February 2021
                              • Consumers care most about quality, clean label and protein level
                                • Figure 6: Important features or claims, February 2021
                              • Soy and nut drinks need to expand consumption occasions
                                • Figure 7: Consumption occasion, February 2021
                              • Black bean or pistachio could be the next oat
                                • Figure 8: New ingredient interest, February 2021
                              • Reduce the protein deficit of non-soy plant-based drinks
                                • Figure 9: Perception of different protein sources, February 2021
                              • Consumers seek blends of different plant protein sources
                                • Figure 10: Attitudes towards plant-based drinks, February 2021
                              • What we think
                              • Issues and Insights

                                • Issue 1 Combining soy with other plant protein
                                  • The facts
                                    • The implications
                                      • Figure 11: Product examples of mixed soy drinks
                                    • Issue 2 Expand plant-based concept into sports and energy drinks
                                      • The facts
                                        • The implications
                                          • Figure 12: Product examples of plant-based sports and energy drinks
                                        • Issue 3 Capitalize on the personalization trend
                                          • The facts
                                            • The implications
                                            • The Market – What You Need to Know

                                              • Market recovering to pre-COVID levels
                                                • Competition intensifies with less active innovation
                                                  • Soy leads the way while opportunities await in non-traditional segments
                                                  • Market Size and Forecast

                                                    • Market value to bounce back but growth to remain low
                                                      • Figure 13: Retail market value of plant-based drinks, China, 2015-2025
                                                    • Volume flattens with increasing prices
                                                      • Figure 14: Market volume of plant-based drinks, China, 2015-2025
                                                  • Market Factors

                                                    • Healthy eating trend enhanced by COVID-19
                                                      • Figure 15: Plant-based drinks with selected healthy claims, China, 2016-2020
                                                    • The market is crowded but product innovation is slowing down
                                                      • Figure 16: Number of new product launches, China, 2010-2020
                                                      • Figure 17: Plant-based drinks new launch type, China, 2010-2020
                                                    • Capital flows into oat milk sector
                                                      • Figure 18: Share of oat (a) drink launches in all plant-based drinks, China, 2016-2020
                                                  • Market Segmentation

                                                    • Soy in leading position while walnut loses share
                                                      • Opportunities in non-traditional segment
                                                        • Figure 19: Market value of PPD segments, China, 2018-2020
                                                        • Figure 20: Value share of PPD segments, China, 2018-2020
                                                    • Key Players – What You Need to Know

                                                      • Yangyuan and Yinlu are quickly losing market share
                                                        • Expanding into other categories
                                                          • Focus on functionality and diverse plant protein
                                                            • Possible future trends towards sustainability and personalization
                                                            • Market Share

                                                              • Traditional players face challenges
                                                                • The rise of Dou Ben Dou
                                                                  • Competition intensifies in oat milk sector
                                                                    • Figure 21: Market share of leading plant-based drink players, by value, China, 2018-2020
                                                                • Competitive Strategies

                                                                  • Share tech details to lift brand positioning
                                                                    • Figure 22: Tech details of product examples
                                                                  • Diversified marketing strategies gaining brand awareness
                                                                    • Figure 23: Examples of Dou Ben Dou’s marketing campaigns
                                                                  • Expand into new categories to broaden consumption occasions
                                                                    • Figure 24: Product examples of plant-based energy drinks
                                                                    • Figure 25: Product examples of plant-based yogurt
                                                                • Who’s Innovating?

                                                                  • Adding functional benefits the next trend to watch
                                                                    • Figure 26: Soy milk with collagen
                                                                    • Figure 27: Product examples with emotional benefits
                                                                  • Diverse plant protein sources
                                                                    • Figure 28: Product examples of innovative plant protein ingredients
                                                                    • Figure 29: Product examples of multiple plant protein sources, China
                                                                  • Promoting chilled beverages to advertise freshness
                                                                    • Figure 30: Product examples of chilled plant-based drinks, China
                                                                  • The growing ESG trend
                                                                    • Figure 31: Plant-based drinks with sustainable and environmentally friendly claims, by market, 2020
                                                                    • Figure 32: Examples of sustainability messages
                                                                  • Personalized nutritional needs
                                                                    • Figure 33: NesQino by Nestlé
                                                                    • Figure 34: Number of plant-based drinks with ‘suitable for’ claims, global, 2016-2020
                                                                • The Consumer – What You Need to Know

                                                                  • Oat penetrates well while plant-based yogurt lags behind
                                                                    • Promoting claims on quality, clean label and protein level
                                                                      • Soy and nut-based drinks to expand usage occasions
                                                                        • Consumers are asking for multiple plant protein sources
                                                                        • Consumption Frequency

                                                                          • Soy still tops consumption frequency
                                                                            • Figure 35: Consumption frequency, February 2021
                                                                            • Figure 36: Consumption frequency of soy-based drinks, by age, February 2021
                                                                          • Oat drinks penetrate the market quickly
                                                                            • Figure 37: Plant-based drinks penetration, February 2021
                                                                            • Figure 38: Oat-based drinks penetration, by city tier, February 2021
                                                                          • Non-soy drinks growth potential for low-income households
                                                                            • Figure 39: Plant-based drinks penetration, by household income, February 2021
                                                                          • Plant-based yogurt has a long way to go
                                                                            • Figure 40: Number of new product launches in plant-based spoonable yogurts, global, 2010-2020
                                                                        • Important Features or Claims

                                                                          • Consumers care most about high nutritional values and free from additives
                                                                            • Figure 41: Important features or claims, February 2021
                                                                            • Figure 42: New product launches in plant-based drinks, by selected claim, China, 2016-2020
                                                                          • Target male consumers in their 30s with high level of protein
                                                                            • Figure 43: Important features or claims, by age and gender, February 2021
                                                                          • Looking for multiple claims
                                                                            • Figure 44: Number of claims, February 2021
                                                                        • Consumption Occasion

                                                                          • Soy-based drinks to expand beyond breakfast
                                                                            • Figure 45: Consumption occasion, February 2021
                                                                          • Absence of nut drinks at mealtime
                                                                          • Interest in New Ingredients

                                                                            • Black bean and pistachio generate the most interest
                                                                              • Figure 46: New ingredient interest, February 2021
                                                                            • Blending soy with more ingredients for frequent users
                                                                              • Figure 47: New ingredient interest among soy users, February 2021
                                                                            • Opportunity for mixed drinks
                                                                              • Figure 48: Top 5 new ingredient interest, by selected group, February 2021
                                                                          • Perception of Different Protein Source

                                                                            • Soy leads in nutrition and protein content
                                                                              • Figure 49: Perception of different protein sources, February 2021
                                                                            • Protein gap to fill for non-soy plant-based drinks
                                                                              • Figure 50: Perception of plant protein, February 2021
                                                                            • Plant protein is seen as more natural
                                                                              • Figure 51: Claim of ‘natural’ in new launches of plant-based drinks and milk & dairy beverages, China, 2016-2020
                                                                            • Soy drinks are good value for money
                                                                              • Figure 52: Perception of both plant and animal protein, by selected attribute, February 2021
                                                                          • Attitudes Towards Plant-Based Drinks

                                                                            • Asking for blends of multiple plant protein sources
                                                                              • Figure 53: Attitudes towards plant-based drinks, February 2021
                                                                              • Figure 54: Attitudes towards new ingredients, February 2021
                                                                            • Plant-protein to bulk out functional drinks
                                                                              • Figure 55: Selected claims in new launches of sports & energy drinks, China, 2016-2020
                                                                            • Mixing with milk due to health concerns
                                                                              • Figure 56: Attitudes towards different protein sources, February 2021
                                                                            • Pricing pressure on plant-based drinks
                                                                              • Figure 57: Attitudes towards nutritional value and diversity of plant-based drinks, by consumer group, February 2021
                                                                          • Appendix – Market Size and Forecast

                                                                              • Figure 58: Market value for plant-based drinks, China, 2015-2025
                                                                              • Figure 59: Market volume for plant-based drinks, China, 2015-2025
                                                                          • Appendix – Market Segmentation

                                                                              • Figure 60: Market value for plant-based drinks, by segment, China, 2015-2020
                                                                          • Appendix – Methodology and Abbreviations

                                                                            • Methodology
                                                                              • Abbreviations

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