April 18, 2023

Meiji Entered the Chinese Market with their Soy Protein

Meiji is developing the "Zavas" series of powdered soy protein in Japan, but it has entered the Chinese market this time. The two flavors are now available through a website operated by Alibaba Group, China's most extensive electronic commerce (EC) company. By introducing new plant-derived products, Meiji aims to capture the growing health consciousness in China. By the fiscal year 2026, Meiji aims to achieve sales of approximately 6 billion yen, equivalent to 5% of the country's protein market.

Meiji started to launch milk tea and cocoa flavors by the end of 2022. A 1.05-kilogram bag is available for 199 yuan (about 3,900 yen) on Alibaba's "Tmall (T mall)" dedicated Meiji website as a special price to celebrate the launch. Meiji exports products manufactured in Japan to China. The essential ingredients and flavor are the same as the soy protein sold in Japan, but Meiji changed some components to meet Chinese regulations.

Meiji has been testing and marketing plant-derived soy protein for about a year since 2020 and has determined that there is demand for the product. In China, health consciousness is on the rise, and it is eyeing sports enthusiasts in their 30s and 40s who prefer running and marathons as targets.

Although competition from local brands and others is fierce, Meiji aims to increase its share of the protein market in the country, which currently stands at less than 1%, to 5% by the fiscal year 2026. According to Euromonitor International of the United Kingdom, China's powdered sports protein market will double nearly from 69.5 billion yen in 2022 to 136.5 billion yen by 2027.