India Plant-Based Food Products Industry Set to Witness Lucrative Growth at a Steady CAGR of 14% by 2030, On Growing Veganism Trend

One of the leading consulting, data analytics, and market research firm, Markntel Advisors, published a recent report titled, “India Plant-Based Food Products Market Research Report: Forecast (2023-2028)”. The market is predicted to grow significantly in the coming years. The prominent factors that facilitate industry expansion are the growing vegan population, which propels the demand for plant-based foods. The plant-based product comprises rich fiber and lesser cholesterol contents, that seek comprehensive attention from a large population. This facilitates exponential growth of India Plant-Based Food Products industry.

What is the Yearly Growth Rate of the India Plant-Based Food Products Industry?

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.

Who are the Main Competitors Driving the India Plant-Based Food Products Market Forward?

Major companies operating in the industry are Amy's Kitchen Inc., Axiom Foods, Daiya Foods, Ahimsa Foods, Nestlé S.A., Evolved Foods, Nutiva, Inc., Schouten Food, GoodDot, Vezlay, and Others.

What is the Segmentation of the India Plant-Based Food Products Market?

The India Plant-Based Food Products market covered in this report is segmented –

• 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, and Others (Plant-Based Snacks, Egg Alternatives, etc.)
• By Source: Soy Protein, Almond Protein, Wheat Protein, Pea Protein, and Others (Rice Protein, etc.)
• By Sales Channel: Business-to-Business and Business-to-Consumer (Hypermarket, Convenience Store, Online)
• By Region: North, South, East, West, and Northeast

What’s New in the Growing India Plant-Based Food Products Industry?

The growing inclination toward religious customs and ethical considerations propel the Indian population to demand more vegan products. According to the census data published by the Government of India, the country comprises the highest number of vegetarians worldwide, therefore resulting in the proliferation of India Plant-Based food products industry.

What is the India Plant-Based Food Products Definition?

Plant-based food is a final product made from materials derived from plants, such as whole grains, nuts, seeds, legumes, fruits, and vegetables. The market for plant-based foods comprises food items devoid of elements of animal origin, either during processing or as part of the finished product. These products act as alternatives for animal-derived food items.

Frequently Asked Questions (FAQs)-

1. What is the expected CAGR value of the India Plant-Based Food Products Market during the forecast period?
2. What are the trends influencing the current scenario of the India Plant-Based Food Products market?
3. What key factors would propel and impede the industry across the Country?
4. How has the industry been evolving in terms of geography & India Plant-Based Food Products adoption?
5. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
6. Which is the Leading Type segment in the India Plant-Based Food Products market?

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