IMARC Group’s latest research report, titled “India Plant-Based Meat Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the India plant-based meat market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.The India plant-based meat market is expected to exhibit a growth rate (CAGR) of 26.3% during 2023-2028.
Plant-Based Meat Industry Outlook in India:
Plant-based meat refers to vegan alternatives of animal meat products that exhibit similar color, appearance, texture, and flavor. It is produced by mixing plant protein isolates, starch, vegetable extracts, edible oils, and various other seasonings. It is considered a healthier substitute as it has less saturated fats and calories than traditional meat and is a rich source of vitamins, antioxidants, fiber, and minerals that assist in maintaining a healthy gut microbiome. It is widely consumed by the vegetarian population and provides them with the required protein level. With the easy product availability across restaurants, cafes, fast food joints, hypermarkets, and convenience stores, the demand for plant-based meat is rising across the country.
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India Plant-Based Meat Market Demand:
Shifting consumer preference towards a vegan diet is driving the market in India. Moreover, the changing dietary patterns of individuals are contributing to the demand for plant-based meat across the country. Furthermore, the increasing utilization of plant-based meats in the preparation of burgers, ham, sausages, and meatballs is impacting the market favorably.
Apart from this, the introduction of several awareness programs by various animal welfare organizations and the governments of several countries for reducing excessive animal killing for meat consumption further supports the demand. Other factors, such as constant developments in organized distribution channels, the emerging e-commerce sector, and inflating disposable income of the masses, are also influencing the market across India.
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Key Market Segmentation:
Breakup by Product Type:
- Burger Patties
- Sausages
- Nuggets and Strips
- Ground Meat
- Meatballs
- Others
Breakup by Source:
- Soy
- Wheat
- Peas
- Others
Breakup by Meat Type:
- Chicken
- Beef
- Pork
- Others
Breakup by Distribution Channel:
- Restaurants and Catering Industry
- Supermarkets and Hypermarkets
- Convenience and Specialty Stores
- Online Retail
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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