Dublin, July 16, 2024 (GLOBE NEWSWIRE) -- The "India Plant Protein Market 2023-2029: Share, Trends, Value, Analysis, Outlook, Forecast, Growth, Industry, Companies, Size & Revenue with Market Forecast by Source and Form Types, Sales Channels, Applications, Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
India Plant Protein Market size is projected to grow at a CAGR of 13.3% during 2023-2029, attributing to the expansion of production facilities such as the one set up by B Veg foods with a capacity of 4000 metric tons per year which is expected to expand further up to 12000 metric tons per year to cater the plant protein demand would augment the growth of the plant protein market.
India plant protein market is anticipated to witness significant growth during the forecast period, on the back of government initiatives and campaigns such as mechanization in agriculture, Fit India movement (2019), Eat India Right Movement (2018) to promote increased productivity and yield of crops and healthy lifestyle and living across India. Such initiatives are aiding plant protein foods demand across India which would directly provide impetus for growth to the India plant protein industry during the forecast period.
In 2020, the outburst of coronavirus positively impacted the growth of the India plant protein market as the demand for plant protein surged owing to the changing food habits of consumers and their inclination towards plant-based foods to avoid zoonotic diseases. Moreover, the temporary closure of meat processing plants during the period and the spread of bird flu further promoted the growth of the market.
Moreover, protein intake is increasing owing to rising awareness for health and fitness, due to increasing veganism and altruistic factors, further rising lactose intolerance, especially in youngsters would lead to a shifting of consumers from whey protein to plant protein, due to which plant protein market is expected to grow in the forthcoming years.
Market Segmentation by Source Types
Consumer preference has been highest towards soy protein owing to complete protein having all essential amino acids and a higher protein content ratio with economical prices among other products on account of the easy availability of raw material from Chinese vendors at lower cost.
Market Segmentation by Form Types
Dry plant protein is the majorly used form in India plant protein market on the back of having more protein and easy absorption rate, lower cost and higher shelf life accompanied by easy transportability factor. Further, it is anticipated to show a similar thrive in the forecast period.
Market Segmentation by Sales Channels
The B2B mode has been the topmost shareholder to the revenues and revenue share in the India plant protein market as consumers don't prefer to consume the protein in the raw form. Hence, the vendors from India such as Synthite, Titan Biotech & Proeon as well as Chinese vendors sell the end product to organizations such as Oziva, Muscle blaze & AS-IT-IS who then sell it to consumers in various consumable forms.
Market Segmentation by Applications
Increasing fitness and health awareness in the country with the rising population of vegetarians having significant inclination towards veganism, swinging majorly in Nutraceuticals and supplements for daily nutritional fulfilment which leads to the dependence on protein powder due to their better absorption in the body and higher protein concentration.
Market Segmentation by Regions
The presence of maximum fitness and sports zealous in the Northern region with more awareness towards plant protein makes the northern region a pre-eminent share holder in the India plant protein market and a similar forecast is anticipated in the forecast period.
Key Attractiveness of the Report
- 10 Years of Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- India Plant Protein Market Overview, by Source, Form, Applications, Sales Chanel and Region
- Historical Data and Forecast of India Plant Protein Market Revenues for the Period 2016-2029F
- Historical Data and Forecast of Global Plant Protein Market Revenues for the Period 2016-2029F
- COVID-19 Impact Analysis
- Market Drivers and Restraints
- Industry Life Cycle
- India Plant Protein Market - Porter's Five Forces
- India Plant Protein Market Key Manufacturing Analysis
- Comparison Between the Global and India Plant Protein Market
- Government Initiatives and Regulations
- Raw Material Analysis
- India Plant Protein Market Opportunity Assessment
- India Plant Protein Market Key Performance Indicators
- India Plant Protein Market Competitive Landscape
- Key Strategic Recommendations
- Market Scope and Segmentation
India Plant Protein Market Overview, By Source Types
- India Plant Protein Market Revenue Share and Revenues, By Source Types (2016, 2022 & 2029F)
- India Plant Protein Market Revenues, By Source Types (2016-2029F)
- India Plant Protein Market Revenues, By Soy (2016-2029F)
- India Plant Protein Market Revenues, By Wheat (2016-2029F)
- India Plant Protein Market Revenues, By Pea (2016-2029F)
- India Plant Protein Market Revenues, By Others (Canola Protein, Rice Protein, Potato Protein and Beans & Seeds) (2016-2029F)
India Plant Protein Market Overview, By Sales Channels
- India Plant Protein Market Revenue Share and Revenues, By Sales Channels (2016, 2022 & 2029F)
- India Plant Protein Market Revenues, By Sales Channels (2016-2029F)
- India Plant Protein Market Revenues, By B2B (2016-2029F)
- India Plant Protein Market Revenues, By B2C (2016-2029F)
India Plant Protein Market Overview, By Form Types
- India Plant Protein Market Revenue Share and Revenues, By Form Types (2016, 2022 & 2029F)
- India Plant Protein Market Revenues, By Form Types (2016-2029F)
- India Plant Protein Market Revenues, By Dry (2016-2029F)
- India Plant Protein Market Revenues, By Liquid (2016-2029F)
India Plant Protein Market Overview, By Applications
- India Plant Protein Market Revenue Share and Revenues, By Applications (2016, 2022 & 2029F)
- India Plant Protein Market Revenues, By Applications (2016-2029F)
- India Plant Protein Market Revenues, By Nutraceuticals/Supplements (2016-2029F)
- India Plant Protein Market Revenues, By Bakery Products (2016-2029F)
- India Plant Protein Market Revenues, By Dairy Alternative (2016-2029F)
- India Plant Protein Market Revenues, By Convenience Foods (2016-2029F)
- India Plant Protein Market Revenues, By Meat/Poultry/Seafood And Meat Alternative Products (2016-2029F)
- India Plant Protein Market Revenues, By By Others (Confectionary, Beverage, Baby Food, etc.) (2016-2029F)
Company Profiles
- Titan Biotech Ltd.
- Sonic Biochem Extractions Pvt. Ltd.
- Velnex Medicare
- Synthite
- Fermentis Life Sciences
- Aarkay Food Products Ltd.
- Amway
- Prime Herbonix Health Pvt. Ltd.
- Proeon
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