India Plant-Based Food Products Market Anticipates Robust 14% CAGR for 2023-28

India Plant-Based Food Products Market Insights Report Overview

Dive into the latest insights on the India Plant-Based Food Products Market with our comprehensive report, accurately curated by the experts at MarkNtel Advisors. Our report offers a thorough examination of the landscape, providing valuable data, impartial analysis, and strategic insights to drive informed decision-making.

Report's Study Period:

Historical Period: 2018-21
Base Year: 2022
Forecasting Period: 2023-28

We accurately gather data from primary and secondary sources, capturing the industry's historical fluctuations and trends, including market dynamics, consumer behavior, manufacturing insights, and more. Leveraging this data alongside the base year information, we project the industry's trajectory into the future.

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Industry Driving Factor:

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 Summary: India Plant-Based Food Products Market

Our report delves into the intricate segmentation of the India Plant-Based Food Products Market, providing insights into each subdivision's trajectory, trends, and advancements. This analysis empowers stakeholders to navigate the industry landscape with precision, understanding the nuances of each segment.

-By Type

Plant-Based Meat
Plant-Based Dairy
Plant-Based Bakery
Plant-Based Confectionary
Others (Plant-Based Snacks, Egg Alternatives, etc.)

Here, Plant-Based Meat has garnered the maximum market share among others in the historical period and is likely to prevail in the same trend during the forecast period. It principally owes to the enormous vegetarian population, which is highly receptive to this trending product category. In response to this, the market behemoths have started including Plant-Based Meats like burger patties, tofu, sausage, and textured vegetable protein to satiate the mounting demands across the country. In fact, developed countries like the United States seek opportunities in consumer-oriented products as well as raw materials to aid domestic manufacturers.

Moreover, the GOI plans to backs the plant-based meat business dynamics through the creation of two new research institutes for cell-based meat at the Institute of Chemical Technologies (Mumbai) and the Centre for Cellular and Molecular Biology and the National Research Centre on Meat with investments by the Indian Department of Biotechnology to encourage research and development of laboratory-grown foods or cultivated meat.

-By Sales Channel

Business-to-Business
Business-to-Consumer

-By Source

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

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Leading Competitor: India Plant-Based Food Products Market

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

Geographical Reach:

The India Plant-Based Food Products Industry spans across various, each characterized by unique cultural, regulatory, and economic factors. Our geographical analysis provides a comprehensive overview and forecast, considering these differences and assessing market players' presence, consumer preferences, and more.

-By Region

North
South
East
West
Northeast

For inquiries or further discussions, connect with our analyst today to unlock the full potential of the India Plant-Based Food Products Industry.

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Key Focus Areas:

What are the primary drivers and trends influencing the India Plant-Based Food Products Industry's growth, and how is the market structured?
How are segments within the India Plant-Based Food Products Industry defined, and what is the size of each segment?
Which segments and geographical present the most promising growth opportunities?
What does the competitive landscape look like, and how do key players position themselves within the market?

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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