Market Insights

As per recent research by MarkNtel Advisors, The India Plant-Based Food Products Market is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2023-28.

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Key Driver: A Substantial Number of Flexitarian Populations Across the country

Religious customs and ethical considerations have influenced vegetarianism in India for ages. As per recent census data by the Government of India (GOI), The country has the highest number of vegetarians globally, accounting for 30 percent of the country's population. The remaining population falls under the 'flexitarian' who has a generally vegetarian diet with only occasional meat or fish consumption. These factors have called for more plant-based food products across the retail networks, accelerating the market growth with a sizable revenue share during the forecast period.

Market Segmentation and Consumer Behavior:

By Type

• Plant-Based Meat
  • Burger Patties
  • Sausage
  • Textured Vegetable Protein
  • Tofu
  • Seitan
  • Others (Nuggets, Meatballs, etc.)
• Plant-Based Dairy
  • Milk
  • Cheese
  • Yogurt
  • Others (Cream, Condensed milk, etc.)
• Plant-Based Bakery
• Plant-Based Confectionary
• Others (Plant-Based Snacks, Egg Alternatives, etc.)

By Sales Channel

• Business-to-Business
• Business-to-Consumer
  • Hypermarket
  • Convenience Store
  • Online

By Source

• Soy Protein
• Almond Protein
• Wheat Protein
• Pea Protein
• Others (Rice Protein, etc.)

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India Plant-Based Food Products Market Geographical Analysis:

By Region:

• North
• South
• East
• West
• Northeast

Key Players and Competitive Strategies in the India Plant-Based Food Products Market

Several prominent players dominate the India Plant-Based Food Products Market, including:

• Amy's Kitchen Inc.
• Axiom Foods
• Daiya Foods
• Ahimsa Foods
• Nestlé S.A.
• Evolved Foods
• Nutiva, Inc.
• Schouten Food
• GoodDot
• Vezlay
• Others

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Questions Addressed in this Study

1.What factors are driving the India Plant-Based Food Products Market growth?

2.How is the India Plant-Based Food Products Market expected to grow over the next five years?

3.What are the key insights into the current trends in the India Plant-Based Food Products Market?

4.What is the current size of the India Plant-Based Food Products Market, and how is it projected to change in the future?

5.What is the future outlook for the India Plant-Based Food Products Market in terms of technological advancements and market expansion?

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