the global market for plant proteins - competition with dairy · whey protein isolate outperformed...
TRANSCRIPT
3A Business Consulting
1
3A Business Consulting
The Global Market For Plant Proteins -
Competition With Dairy
2017-2021
Published February 2018
3A Business Consulting
2
1. Introduction
2. Production of plant proteins
3. Key players and applications
4. Consumer product trends
5. Market outlook and future market trends
6. Conclusions and threat to dairy
7. Appendix
3A Business Consulting
3
Methodology for Research- Data Sources and Abbreviations
The building input blocks of this report:
Innova Market
InsightsEuromonitor
Company reports
FDA
3A Business Consulting
Industry sources and interviews
USDA
Abbreviations:CAGR Compounded Annual Growth RateEUR EuroLATAM Latin AmericaMEA Middle East and AfricaMPC Milk Protein ConcentrateMPI Milk Protein IsolateMT Metric TonneNA North AmericaPoPI Potato Protein IsolatePPC Pea Protein ConcentratePPI Pea Protein IsolateRoW Rest of WorldRPC Rice Protein ConcentrateRPI Rice Protein IsolateRTD Ready-To-DrinkSPC Soy Protein ConcentrateSPI Soy Protein IsolateUSD US DollarWhPH Wheat Protein HydrolysateWhPI Wheat Protein IsolateWPC Whey Protein ConcentrateWPI Whey Protein Isolate
3A Business Consulting
4
Market Research Approach
SPCSPIWheat GlutenWhPITextured WhPPPCPPIRPCRPIPotato proteinWPCWPIMPCMPICaseinCaseinates
GlobalEuropeNorth AmericaLatin AmericaAustralasiaAsia PacificMiddle East
CAGR 2012-2016CAGR 2017-2021
Top plant protein manufacturersTop plant protein users
Consumer segmentsDairy alternativesProduct trendsConsumer trends
Application/ volume usage of plant proteins
Dairy alternativesSports nutritionInfant nutritionClinical nutritionWeight managementAnimal feed/pet food
ProductScope
MarketScope
Key Players
Global Market Trends
Ingredientsusage
3A Business Consulting
5
Others
Global soy protein market size and trends and major producers of soy protein
Production volume by ingredient, 2016
Soy ingredient Price range
Soy flour USD xxx per MT
Soy protein concentrate
USD xxx per MT
Soy protein isolate USD xxx per MT
CompanyEstimated share of nutritional markets
3A Business Consulting
6
Producer spotlight- Roquette Freres
Headquartered in France, with EUR 3.3 bio. in annual sales, Roquette is the world’s major producer of pea protein, marketed under the Nutralys brand
In January 2017, Roquette announced a USD 300 mio. investment in what they report will be the world’s biggest pea protein plant, located in Canada (Manitoba), where 30%, or 4,8 mio. MT in 2016, of global pea production takes place. Production to commence in 2019
In June 2017, Roquette announced a further EUR 40 mio. investment in its Vic-sur-Aisne (France) plant to expand production of pea proteins
By 2019, the Manitoba and Vic-sur-Aisne plants will have a combined pea processing capacity of around 250,000 MT annually, according to Roquette
In addition to pea protein, Roquette also markets wheat protein hydrolysates under the Nutralys brand as well as cornand potato protein under other brands
Roquette protein brands
Pea, Wheat, Potato, Corn and Algae Protein
Product Application(s)
NUTRALYS PEA F Food and nutritional
NUTRALYS PEA S Food and nutritional
NUTRALYS PEA XF Clinical, sport and weight management nutrition
NUTRALYS PEA BF Bakery
NUTRALYS PEA T Meat extender and analog
NUTRALYS WHEAT W Bakery/cereal, confectionery, dairy, pet,clinical/sports nutritionNUTRALYS WHEAT WF
VITEN wheat gluten Bakery and fish food
VITEN CWS wheat gluten Calf milk-replacer
GLUTALYS corn protein Animal feed
TUBERMINE potato protein Animal feed, fermentation
Algility chlorella Functional foods and weight management
Source: Roquette
3A Business Consulting
7
Global protein production- plant and dairy proteins
Source: 3A Business Consulting
0
200
400
600
800
1,000
‘00
0 M
T
World food market dairy and plant protein prices
Global dairy and plant protein volumes 2016
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
US
D/
MT
3A Business Consulting
8
Applications of soy proteins
Soy protein isolate applications
Soy protein concentrate applications
Soy protein isolate is predominantly used for food applications within which meat/meat substitutuesaccount for around xx%, or xxx MT, and dairy around xx%, or xxx MT, with the remaining mainly being functional foods
Soy protein isolate is used widely in nutritional industries with sports nutrition contributing approx. xxx MT, performance bars being the biggest subcategory application
A similar share of soy protein concentrate volumes are used in food applications with meat and meat analogs accounting for the vast majority of food uses with additional use in dairy and functional foods, although relatively small
However, soy protein concentrate use for nutritional sectors is comparably limited to isolates, instead soy protein concentrate finds larger use in feed
3A Business Consulting
9
Between 2011 and 2016, 8,937 new products containing whey protein concentrate were launched
North America was the most active region, accounting for more than half of product launches containing WPC
The number of products launched with WPC between 2011 and 2016 has grown 80%, or 16% annually on average
The most active companies in terms of product launches with WPC have widely been nutritional companies, Myprotein has been the most active company followed by Nutricia
The 10 companies launching most product collectively account for 21% of product launches with WPC between 2011-2016
The sports nutrition segment has seen the most new product launches with whey protein concentrate followed by infant formula
Several product launches with WPC is also seen in a wide range of food categories as well as in supplements and clinical nutrition
New product launches / consumer product trends- Whey Protein Concentrate (1)
Historic development
Most active companies
Major application segments
Source: Innova Market Insights
0
300
600
900
1,200
1,500
1,800
2011 2012 2013 2014 2015 2016
# o
f p
ro
du
cts
lau
nch
ed Africa
Asia
Australasia
East Europe
Latin America
Middle East
North America
West Europe
0
100
200
300
400
# o
f p
ro
du
cts
lau
nch
ed
MyproteinNutriciaAbbottIovateDymatizeNestleCytosportUnileverOptimum NutritionKraft
Sports
Nutrition41%
Baby &
Toddlers16%
Dairy
7%
Cereals
6%
Supplements
5%
Desserts &
Ice Cream5%
Ready Meals
5%
Bakery
4%
Snacks
3%
Clinical Nutrition2%
Other
6%
3A Business Consulting
10
New product launches / consumer product trends- Whey Protein Concentrate (2)
Company: Myprotein
Date: April 2016
Category: Sports nutrition
Ingredients: Whey protein concentrate (96%), emulsifier, flavoring, sucralose
Company: Nutricia
Date: November 2016
Category: Baby formula/milk
Ingredients: Lactose from milk, hydrolyzed whey protein concentrate, vegetable oils, galactooligosaccharides etc.
Company: Abbott
Date: January 2016
Category: Baby formula/milk
Ingredients: Skimmed milk, lactose, vegetable oils, whey protein concentrate powder,maltodextrin, GOS, phospholipid etc.
Company: Iovate
Date: January 2016
Category: Sports nutrition
Ingredients: Protein blend (micellar whey, whey protein concentrate, whey protein isolate, whey protein isolate 97% whey protein hydrolysate)
Company: Dymatize
Date: February 2016
Category: Sports nutrition
Ingredients: Maltodextrin, protein blend (whey protein concentrate, milk protein isolate, whey protein isolate, whey protein hydrolysate etc.)
Company: Kraft
Date: October 2016
Category: Cheese
Ingredients: Milk, water, whey, whey protein concentrate, canola oil, maltodextrin, salt, sodium phosphate etc.
3A Business Consulting
11
Protein ingredient outlook
Pea proteins are predicted to exhibit the highest growth rate of between 10-11% per year reaching 40,000 MT by 2021, followed by rice proteins that has already seen immense growth in the beginning of the review period, although from a low base
Whey protein isolate outperformed both the plant protein market as well as other dairy proteins between 2012-2016 and is expected to remain the most dynamic dairy protein
Soy proteins are headed towards maturity but is still showing healthy growth relative to large volumes between 3-4% per year towards 2021
Wheat and potato proteins are growing at a relatively slow pace with wheat gluten and protein suffering from unhealthy perception by many people and low protein quality
CA
GR
20
12
-20
16
CAGR 2017-2021
3A Business Consulting
12
Assessing the competition (1)
3A Business Consulting
13
Global Plant Protein Report – project management and costs
3A Business Consulting team:
– Managing partner - Tage Affertsholt
– Junior consultant – Daniel Pedersen
Report available in PDF format – in total approx. 100 slides – from February 2018
EUR 4,700
Time
Team
Cost