Indian Plant Protein Market is Driven by Booming Health & Fitness and Food & Beverages Sectors During the Forecast Period 2022-2027

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Expert Market Research‘s new report titled ‘India Plant Based Protein Market Growth, Size, Share, Price, Trends, Report and Forecast 2022-2027′, gives an in-depth analysis of the Indian plant protein market, assessing the market based on its segments such as source, type, applications, and distribution channel. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

• Historical market size (2020): 11,250 tonnes

India’s plant-based protein market is driven by the booming health and fitness and food and beverage sectors. When it comes to health and fitness app, young and middle-aged population are becoming more and more health conscious, which is why they are frequenting gyms and health clubs more than ever. .

It has also increased the demand for lactose-free and gluten-free products. Likewise, the food and beverage segment is also very important for the plant protein market. There is a high demand for a high protein diet among athletes, bodybuilders and the sports community. In India, the maximum percentage of the population is vegetarian, which represents a significant opportunity for players in this market to develop products such as protein-rich juices, smoothies, shakes, drinks and flavored drinks to target their protein needs.

Rising investment by key players towards the Indian protein market is expected to drive the market growth over the forecast period. Following the COVID outbreak, as various industries recover from the adverse effects of the pandemic, the product is expected to see an increase in demand, supported by government efforts.

Industry definition and major segments

Plant proteins are simply a useful source of plant-derived protein as part of a diet. These proteins are derived from plant-based foods such as legumes, tofu, soybeans, nuts, seeds, tempeh, and peas. Plant nutrients are not only a source of protein, they also provide other necessary nutrients such as vitamins, fiber and minerals.

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The India Herbal Based Market, on the basis of Source, can be segmented into:

• Soy protein
• Pea protein
• Wheat protein
• Rice protein

On the basis of industry, the market can be categorized into:

• Protein bars
• Protein powder

On the basis of applications, the market can be categorized into:

• Health and Fitness
• Food and drinks
• Pharmaceutical
• Others

On the basis of distribution channels, the market can be categorized into:

• Online
• Retailer
• Gym instructor
• Dieticians
• Chemist
• Direct to customers
• Others

Regional markets for the Indian plant protein market include:

• Western India
• South India
• North India
• East India

Among these, North India accounts for a significant share of the Indian plant protein market.

Market trends

The food and beverage segment is estimated to account for the largest share during the forecast period. The main reason for the fastest growth expected for this segment is the growing demand for pure and natural ingredients. In India, most of the population still belongs to the middle and lower economic classes.

The employment rate and disposable income increase as economic development and industrialization progress. As a result, there has been a change in eating habits, leading to increased consumption of protein-rich foods and beverages. Rapid technological advancements and growing investments by major players to develop innovative solutions with latest features are expected to contribute significantly to the growth of the market.

Main market players

Major market players include Mister Veg Foods Pvt Ltd., Zywie Ventures Private Limited (Oziva), Plantpower.fit, Plant Vita, Nutrazee, HealthOxide, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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