Meiji launches soy protein powder in the Chinese market
International Business News – Meiji’s “SAVAS” series of soy protein powder has entered the Chinese market. Two flavors are available at the Tmall flagship store. Meiji intends to introduce products of plant origin to meet the rising health consciousness of Chinese consumers. It aims to achieve sales of approximately 6 billion yen by fiscal 2026, equivalent to 5% of the Chinese protein powder market.
In late 2022, Meiji’s Tmall flagship store stocked milk tea and cocoa flavors as a limited time tasting price to commemorate the launch, priced at 199 yuan for a 1.05 kg pack. The products are manufactured domestically in Japan and exported to China. Compared to the soy protein powder sold in Japan, the basic ingredients and taste are the same, but some of the raw materials are said to have been changed to comply with Chinese legal requirements.
Meiji has been selling animal whey protein powder in China since 2020 through its “SAVAS” series. In the past year, we have been test marketing soy protein powder of plant origin and believe there is demand for it. Chinese consumers are becoming more health-conscious, and Meiji will target sports enthusiasts in their 30s and 40s who enjoy running and marathons.
Although competition with local brands is fierce, Meiji aims to increase its protein powder market share in China, which is currently below 1%, to 5% by fiscal 2026.
According to Euromonitor International, the market for sports protein powders in China will double from 69.5 billion yen in 2022 to 136.5 billion yen in 2027.