India Plant Protein Market size is projected to grow at a CAGR of 13.3% during 2023-2029

On the basis of source types, soy protein has attained the significant revenue share in India Plant Protein Market – 6Wresearch

In terms of source type, soy protein emerged as a major shareholder followed by pea protein in the market in 2022, as it has a higher protein content ratio as compared to other protein source types. Moreover, the segment is expected to witness a surge in demand on account of the rising focus on health and fitness as well as more people switching to gluten-free diets owing to health and fitness concerns.

According to 6Wresearch, India Plant Protein Market size is projected to grow at a CAGR of 13.3% during 2023-2029. The relevance of plant proteins in the food and beverage industry has experienced significant growth in recent years, and this positive development is expected to continue in the future. The growing demand for plant proteins is mainly driven by their health benefits, an increasing interest in high-protein food and the steadily rising adoption of vegan lifestyles in the country. Moreover, plant proteins reduce the exploitation of animals and the environment, presenting a way to reduce the environmental footprint. A rise in lifestyle-related diseases such as obesity is another reason why people are becoming more inclined towards plant-based eating habits.

Cold storage infrastructure is crucial for preserving the quality and safety of food products, including plant-based proteins, and its inadequate availability in India poses a significant challenge to the plant protein market and the entire food industry.

The lack of familiarity and appeal of processed plant protein products like plant-based meat alternatives, tofu and tempe and low awareness about nutritional benefits is a major hurdle for manufacturers looking to introduce new plant protein products into the market. Moreover, the rising number of fake and unhealthy protein products also put challenges for manufacturer to keep their originality intact.

According to Shivankar, Research Manager, 6Wresearch, nutraceuticals and supplement industry would remain the largest consumer of plant protein raw material due to continuous manufacturing of vitamins, minerals, herbal extracts and dietary supplements.

The India Plant Protein Market (2023-2029) report provides an in-depth analysis with 19 figures and 9 tables, covering 102 pages. The report comprehensively covers the market by source types, form types, sales channels, applications, and regions. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.