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India Plant Based Protein Market: By Source: Soy Protein, Pea Protein, Wheat Protein, Rice Protein, Others; By Type: Protein Bars, Protein Powder; By Application; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

India Plant Based Protein Market Outlook

The India plant based protein market reached a volume of about 11,250 tons in 2020. The market is further expected to grow at a CAGR of 12.4% in the forecast period of 2021-2023 to reach a volume of around 15,800 tons by 2023.


Rising Awareness About the Benefits of Plant Based Protein Positively Influenced the Market Growth

The increased demand due to the rising awareness about the benefits of plant based proteins and the rising focus on the drawbacks of animal proteins have been propelling the growth of plant based protein market in India. The rising health awareness due to the onset of the COVID-19 pandemic has put a light on the drawbacks of animal proteins and surged the demand for plant based protein products. Furthermore, the ubiquity of diseases like the Bird Flu is providing a further impetus to the plant based protein industry in India. Veganism is becoming more popular in the region, which is also propelling the plant based protein products into the mainstream, thus, aiding the market growth.

Some of the other major factors driving the growth of this regional market include the growing demand for protein-rich diet, the increasing awareness about the benefits of proteins, the growing health and wellness trends, increasing consumer focus on meat alternatives, and the growing demand from the food and beverage industry. The stable economic condition and changing lifestyle of the population in India has placed the nutrition and health segments at the forefront, which has further supported the growth of the plant based protein market in India. The growing issues related to the environment and animal farming has also led to the rising demand for sustainable protein sources such as plant based protein.


Plant Based Protein: Industry Definition and Segmentation

Plant based protein is a significant food source of protein that is derived from plants like pulses, tofu, soy, tempeh, seeds, seitan, almonds, some cereals, and even peas. Plant proteins are nutrient-dense because they are high in protein, and additionally include vitamins, fibre, and minerals.

By source, the market is divided into: 

  •  Soy Protein
  •  Pea Protein
  •  Wheat Protein
  •  Rice Protein

On the basis of type, the industry is segmented into:

  •  Protein Bars
  •  Protein Powder

The major application segments of the market include: 

  •  Health and Fitness
  •  Food and Beverages
  •  Pharmaceutical
  •  Others

Based on distribution channel, the market is divided into:

  •  Online
  •  Retailer
  •  Gym Instructor
  •  Dieticians
  •  Chemist
  •  Direct to Customer
  •  Others

The regional markets for plant based protein can be divided into West India, South India, North India, and East India.
 

Changing Dietary Preferences Among the Consumers Augmenting the Market Growth of Plant Based Protein in India

Consumer preferences are shifting, indicating a rising shift towards a more nutritional diet centred on a more sustainable lifestyle and a lower reliance on animal proteins, which could drive the plant based protein market growth in India. India's millennial generation is moving away from conventional animal based products and toward organic and plant based food products as an optimum food solution. Consumer tastes and preferences are shifting as people becoming more aware of meat sourcing practices, their environmental impact, and animal-borne diseases. As a result, an increasing number of people are avoiding meat intake. These factors have contributed to the growth of the plant based protein industry in India. The growing protein-rich diet awareness, increasing health consciousness, increasing technological advancements in the food and beverage industry, increasing raw material availability, growing food demand, and increasing government investment in the food research and development sector are also contributing to this market's rapid growth. The rise in the number of people suffering from lactose intolerance is further expected to boost the plant protein industry in India.
 

Key Industry Players in the India Plant Based Protein Market

The report gives a detailed analysis of the following key players in the India plant based protein market,covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  •  Mister Veg Foods Pvt Ltd.
  •  Zywie Ventures Private Limited (Oziva)
  •  Plantpower.fit
  •  Plant Vita
  •  Nutrazee
  •  HealthOxide
  •  Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    India
7    Industry Opportunities and Challenges
8    India Plant Based Protein Market Analysis

    8.1    Key Industry Highlights
    8.2    India Plant Based Protein Historical Market (2016-2020) 
    8.3    India Plant Based Protein Market Forecast (2016-2020) 
    8.4    India Plant Based Protein Market by Source
        8.4.1    Soy Protein
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Pea Protein
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Wheat Protein
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Rice Protein
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Others
8.5    India Plant Based Protein Market by Type
        8.5.1    Protein Bars
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Protein Powder
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    India Plant Based Protein Market by Application
        8.6.1    Health and Fitness
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Food and Beverage
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Pharmaceutical
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Others
    8.7    India Plant Based Protein Market by Distribution Channel
        8.7.1    Online
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Retailer
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Gym Instructor
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Dietician
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Chemist
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2016-2020)
            8.7.5.3    Forecast Trend (2021-2026)
        8.7.6    Direct to Consumer
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2016-2020)
            8.7.6.3    Forecast Trend (2021-2026)
        8.7.7    Others
    8.8    India Plant Based Protein Market by Region
        8.8.1    Market Share
            8.8.1.1    North India
            8.8.1.2    South India
            8.8.1.3    East India
            8.8.1.4    West India
9    Regional Analysis
    9.1    North India
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by States
            9.1.3.1    Uttar Pradesh
            9.1.3.2    Rajasthan
            9.1.3.3    Delhi
            9.1.3.4    Punjab
            9.1.3.5    Himachal
            9.1.3.6    Jammu Kashmir and Ladakh
    9.2    South India
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by States
            9.2.3.1    Tamil Nadu
            9.2.3.2    Karnataka
            9.2.3.3    Andhra Pradesh
            9.2.3.4    Kerala
    9.3    East India
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
            9.3.3    Breakup by States
            9.3.3.1    West Bengal
            9.3.3.2    7 Sisters
            9.3.3.3    Bihar
            9.3.3.4    Odisha
            9.3.3.5    Chhattisgarh
            9.3.3.6    Jammu Kashmir and Ladakh
        9.3.4    
    9.4    West India
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
            9.4.3    Breakup by States
            9.4.3.1    Maharashtra
            9.4.3.2    Gujrat
            9.4.3.3    Madhya Pradesh
            9.4.3.4    Goa
    10    Market Dynamics
    10.1    SWOT Analysis

        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Mister Veg Foods Pvt Ltd.
        13.2.1.1    Company Overview
        13.2.1.2    Product Portfolio
        13.2.1.3    Demographic Reach and Achievements
        13.2.1.4    Certifications
    13.2.2    Zywie Ventures Private Limited (Oziva)
        13.2.2.1    Company Overview
        13.2.2.2    Product Portfolio
        13.2.2.3    Demographic Reach and Achievements
        13.2.2.4    Certifications
    13.2.3    Plantpower.fit
        13.2.3.1    Company Overview
        13.2.3.2    Product Portfolio
        13.2.3.3    Demographic Reach and Achievements
        13.2.3.4    Certifications
    13.2.4    Plant Vita
        13.2.4.1    Company Overview
        13.2.4.2    Product Portfolio
        13.2.4.3    Demographic Reach and Achievements
        13.2.4.4    Certifications
    13.2.5    Nutrazee
        13.2.5.1    Company Overview
        13.2.5.2    Product Portfolio
        13.2.5.3    Demographic Reach and Achievements
        13.2.5.4    Certifications
    13.2.6    HealthOxide
        13.2.6.1    Company Overview
        13.2.6.2    Product Portfolio
        13.2.6.3    Demographic Reach and Achievements
        13.2.6.4    Certifications
    13.2.7    Others
14    Industry Events and Developments


List of Figures and Tables

1.    India Plant Based Protein Market: Key Industry Highlights, 2016 and 2026
2.    India Plant Based Protein Historical Market: Breakup by Source (Tons), 2016-2020
3.    India Plant Based Protein Market Forecast: Breakup by Source (Tons), 2021-2026
4.    India Plant Based Protein Historical Market: Breakup by Type (Tons), 2016-2020
5.    India Plant Based Protein Market Forecast: Breakup by Type (Tons), 2021-2026
6.    India Plant Based Protein Historical Market: Breakup by Application (Tons), 2016-2020
7.    India Plant Based Protein Market Forecast: Breakup by Application (Tons), 2021-2026
8.    India Plant Based Protein Historical Market: Breakup by Distribution Channel (Tons), 2016-2020
9.    India Plant Based Protein Market Forecast: Breakup by Distribution Channel (Tons), 2021-2026
10.    India Plant Based Protein Historical Market: Breakup by Region (Tons), 2016-2020
11.    India Plant Based Protein Market Forecast: Breakup by Region (Tons), 2021-2026
12.    India Plant Based Protein Market Structure

Key Questions Answered in the Report

In 2020, the India plant based protein market attained a volume of nearly 11,250 tons.

The market is projected to grow at a CAGR of 12.4% between 2021 and 2023.

The market is estimated to witness a healthy growth in the forecast period of 2021-2023 to reach 15,800 tons by 2023.

The major drivers of the market include the growing protein-rich diet awareness, the rising shift away from conventional animal-based products, increasing health consciousness, increasing technological advancements in the food and beverage industry, increasing raw material availability, growing food demand, and the increasing government investment in the food research and development sector.

The changing dietary preferences among consumers and the rising shift toward a more nutritional diet are the key industry trends propelling the growth of the market.

The major regions in the industry are West India, South India, North India, and East India.

The leading sources of plant based protein in the market are soy protein, pea protein, wheat protein, and rice protein, among others.

The major application segments in the industry are health and fitness, food and beverages, and pharmaceutical, among others.

The significant distribution channels of plant based protein are online, retailer, gym instructor, dieticians, chemist, and direct to customer, among others.

The leading types of plant based protein in the market are protein bars and protein powder.

The major players in the industry are Mister Veg Foods Pvt Ltd., Zywie Ventures Private Limited (Oziva), Plantpower.fit, Plant Vita, Nutrazee, and HealthOxide, among others.

Analyst Review

The India plant based protein market attained a volumeof 11,250 tons in 2020,driven by the changing dietary preferences among consumers. Aided by the growing protein-rich diet awareness and increasing health consciousness, the market is expected to witness a further growth in the forecast period of2021-2023, growing at a CAGR of12.4%. The market is projected to reach 15,800 tons by 2023.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on source, the market is categorised into soy protein, pea protein, wheat protein, and rice protein, among others. By type, the industry is bifurcated into protein bars and protein powder. On the basis of application, the market is segmented into health and fitness, food and beverages, and pharmaceutical, among others. The significant distribution channels in the market include online, retailer, gym instructor, dieticians, chemist, and direct to customer, among others. The major regional markets for plant-based protein are West India, South India, North India and East India. The key players in the above market are Mister Veg Foods Pvt Ltd., Zywie Ventures Private Limited (Oziva), Plantpower.fit, Plant Vita, Nutrazee, and HealthOxide, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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