India Plant Based Protein Market to Grow at a CAGR of 15.60% during 2024-2032
India Plant Based Protein Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 15.60% (2024-2032)
The escalating demand for plant-based protein options due to the rising health consciousness among Indian consumers is bolstering the market growth. According to IMARC Group, The India plant-based protein market size is projected to exhibit a growth rate (CAGR) of 15.60% during 2024-2032.
India Plant Based Protein Industry Trends and Drivers:
Growing awareness of the health benefits associated with plant-based diets, such as reduced risks of heart disease, diabetes, and obesity, is driving India plant-based protein market demand as more people opt for plant-based protein sources over traditional animal-based proteins. Another key driver is rising concerns among individuals about animal welfare and the environmental impact of livestock farming. The negative effects of conventional meat production, including high greenhouse gas (GHG) emissions, deforestation, and water usage, are encouraging eco-conscious individuals to seek sustainable and ethical alternatives. Plant-based proteins offer a lower environmental footprint, making them an attractive option for a wider individual.
The increasing prevalence of lactose intolerance and dairy allergies in the Indian population is catalyzing the demand for plant-based proteins. Consumers are seeking alternatives to dairy products like plant-based proteins as they are a viable substitute. This trend is evident on account of the availability of plant-based milk, yogurt, and cheese in the market. Apart from this, changing dietary patterns of individuals are propelling the growth of the market. People are willing to spend on premium and health-oriented food products owing to their inflating income levels. Moreover, governing agencies in the country are focusing on promoting sustainable agriculture and food security, which is contributing to the market growth. They are implementing several policies and subsidies aimed at encouraging the cultivation of protein-rich crops, such as pulses, soybeans, and peas in India. In line with this, the innovation and variety in plant-based protein products are supporting the market growth. Indian startups and established food companies are continuously developing new and appealing plant-based protein products, including snacks, ready-to-eat (RTE) meals, and meat alternatives that cater to the diverse tastes and preferences of consumers in the country.
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India Plant Based Protein Industry Segmentation:
The report has segmented the market into the following categories:
Source Insights:
- Soy Protein
- Pea Protein
- Wheat Protein
- Rice Protein
- Others
The report has provided a detailed breakup and analysis of the market based on the source. This Includes soy protein, pea protein, wheat protein, rice protein, and others.
Type Insights:
- Concentrates
- Isolates
- Textured
A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes concentrates, isolates, and textured.
Nature Insights:
- Conventional
- Organic
The report has provided a detailed breakup and analysis of the market based on the nature. This includes conventional and organic.
Application Insights:
- Health and Fitness
- Food and Beverages
- Pharmaceutical
- Others
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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