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.
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India Plant Based Protein Industry Trends and Drivers:
The Indian plant-based protein market is experiencing significant growth, driven by several key factors. A major driver is the increasing awareness among individuals about health and wellness among consumers. The rising demand for protein-rich diets, particularly from plant based sources, which are perceived as healthier alternatives to animal-based proteins, is impelling the market growth. In addition, the growing prevalence of lifestyle-related diseases, such as diabetes, hypertension, and obesity, among individuals in the country is bolstering the market growth. This is encouraging people to adopt healthier eating habits, including plant-based diets. Besides this, the rise in veganism and vegetarianism is another crucial driver of the plant based protein market in India. A growing number of consumers are choosing to reduce or eliminate animal products from their diets for ethical, environmental, and health reasons. The influence of global plant-based food trends, coupled with India's cultural affinity for vegetarianism, is creating a favorable environment for plant based protein products.
Many consumers are opting for plant-based proteins as a more sustainable choice with the increasing awareness about the environmental impact of animal agriculture, including greenhouse gas (GHG) emissions, land use, and water consumption. Additionally, innovations in food technology are making plant-based protein products more accessible and palatable. Companies are developing new formulations and flavors to cater to the Indian palate, which is helping drive consumer acceptance. The availability of a wide range of products, including plant based protein powders, snacks, and meat substitutes, is expanding consumer choices. Furthermore, 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. Moreover, the wide availability of plant-based protein products in hypermarkets, supermarkets, and convenience and online platforms are contributing to the market growth.
India Plant Based Protein Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India plant-based protein market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
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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