India Plant-Based Food Products Market to Exhibit Sustained Growth at a CAGR of 14% By 2028| MarkNtel Advisors

Report Overview:

The following report titled “India Plant-Based Food Products MarketBy Type (Plant-Based Meat (Burger Patties, Sausage, Textured Vegetable Protein, Tofu, Seitan, Others (Nuggets, Meatballs, etc.)) and other forecast 2023-2028” provides a comprehensive analysis of the market, focusing on key details such as market size, growth trends, determinants of growth, segments covered, and the role of leading players in the industry.

India Plant-Based Food Products Market Summary

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. The market is predominantly propelled by a variety of consumer groups such as urban & middle-class consumers, millennials and other young populations, health conscious and ethical buyers, protein deficient consumers, and non-vegetarians & ‘guilty’ meat eaters, among others, posing the demand for plant-based food products.

Report Coverage & Details

  • Forecast Period: 2023-2028
  • Base Year: 2022
  • CAGR: 14%

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India Plant-Based Food Products Market 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.

Segmentation Analysis: India Plant-Based Food Products Market

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.)

By Region

  • North
  • South
  • East
  • West
  • Northeast

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Leading Players Analysis: India Plant-Based Food Products Market

The report provides detailed analysis of key players in the India Plant-Based Food Products market, highlighting their strategies and competitive scenario.

  • 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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