India Plant-Based Food Products Market: Forecasted 14% CAGR by 2028, Examining Size, Share, and Demand

MarkNtel Advisors has recently published "India Plant-Based Food Products Market Analysis Share, Growth, Demand, Forecast  2028," a comprehensive research report that provides in-depth analysis of various factors driving the industry's growth across different geographic regions. This report offers reliable insights into the historical, current, and projected trends, in the India Plant-Based Food Products Market, presented through detailed explanations, tables, and figures. It equips stakeholders with valuable knowledge of the industry dynamics, enabling them to strategize effectively before making investment decisions.

The report indicates that the India Plant-Based Food Products Market is anticipated to experience a CAGR of approximately 14% during the period of 2023-2028. Our analysis encompasses a thorough examination of various environmental factors, economic and social issues, technological advancements, and other relevant aspects that are crucial for stakeholders during decision-making processes. In order to provide a reliable, accurate, and comprehensive understanding of the industry, our analysts have conducted extensive research utilizing tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and Porter's Five Forces Analysis.

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Market Dynamics

Key Driver: 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.

Recent Developments

• In September 2022, India exported the first consignment of plant-based meat products to California, USA, from Nadiad, Kheda district of Gujarat. The exported food products include mini samosas, patties, nuggets, momos, spring rolls, and burgers.
• Archer Daniels Midland (ADM) recently collaborated with Imagine Meats, an Indian producer of plant-based meat substitutes. ADM seeks to source raw ingredients alongside a technology partnership to manufacture products under the Imagine Meats brand. Imagine Meats intends to develop plant-based versions of traditional Indian dishes such as biryani, kebabs, and curry made from soy and pea proteins.

Segmenting Success: Unveiling Opportunities in the India Plant-Based Food Products Market 2023-2028

The India Plant-Based Food Products Market, characterized by its fragmented nature and numerous subdivisions, is thoroughly examined in the report. We provide detailed insights on each segment and geographical location, empowering stakeholders and industry leaders to comprehend the market dynamics and devise new strategies and investments. Furthermore, by gaining a deeper understanding of the ebb and flow within each segment, investors can make well-informed decisions and expand their production and revenue streams in the coming years. The report focuses on key market dynamics, including recent developments, trends, demand and supply chain analysis, purchase patterns, and product/service pricing, among others, within the following segments:

Based on 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

- Others (Plant-Based Snacks, Egg Alternatives, etc.)

Based on Sales Channel

- Business-to-Business

- Business-to-Consumer

-- Hypermarket

-- Convenience Store

-- Online

Based on Source

- Soy Protein

- Almond Protein

- Wheat Protein

- Pea Protein

- Others (Rice Protein, etc.)

Geographically, the India Plant-Based Food Products Market expands across the following:

- North

- South

- East

- West

- Northeast

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Unveiling the Competitive Landscape: Insights into Key Players in the India Plant-Based Food Products Market 2023-2028

The report provides a comprehensive competitive analysis, highlighting a key aspect of the industry—the existing players. Each player is extensively profiled, covering vital aspects such as business overview, demand and supply chain, key strategies, latest news, product launches, pricing catalog, recent developments, revenue generation, stakes and investments, and trends. These insights aim to assist stakeholders in diversifying and strategizing their investments and participation in the India Plant-Based Food Products Market, ultimately seeking substantial revenue generation over the forecasted years.

- Amy's Kitchen Inc.

- Axiom Foods

- Daiya Foods

- Ahimsa Foods

- Nestlé S.A.

- Evolved Foods

- Nutiva, Inc.

- Schouten Food

- GoodDot

- Vezlay

- Others

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

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 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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