Market Size of india meat substitutes Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 355.85 Million |
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Market Size (2029) | USD 651.85 Million |
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Largest Share by Type | Textured Vegetable Protein |
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CAGR (2024 - 2029) | 12.87 % |
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Fastest Growing by Type | Tempeh |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Meat Substitutes Market Analysis
The India Meat Substitutes Market size is estimated at 355.85 million USD in 2024, and is expected to reach 651.85 million USD by 2029, growing at a CAGR of 12.87% during the forecast period (2024-2029).
355.85 Million
Market Size in 2024 (USD)
651.85 Million
Market Size in 2029 (USD)
11.45 %
CAGR (2017-2023)
12.87 %
CAGR (2024-2029)
Largest Segment by Type
65.71 %
value share, Textured Vegetable Protein, 2023
The rising trend toward a more nutrient-dense diet based in an environmentally responsible way and increasing product availability is boosting sales.
Largest Segment by Distribution Channel
57.80 %
value share, On-Trade, 2023
As the information sector scales online in India, people are becoming aware of the concepts of veganism and plant-based diets, with digital marketing driving this progress.
Fastest-growing Segment by Type
14.19 %
Projected CAGR, Tempeh, 2024-2029
India has a very large supply of soybeans, which promotes tempeh manufacturing across the country and encourages innovations with other legumes in the segment.
Fastest-growing Segment by Distribution Channel
13.16 %
Projected CAGR, On-Trade, 2024-2029
Plant-based meat in India is an emerging trend, predominantly in the food service space, and textured vegetable protein is the most consumed meat substitute.
Leading Market Player
3.22 %
market share, Impossible Foods Inc., 2022
The company has well-established distribution networks and partnerships with retail channels and food service outlets and maintains effective marketing and branding strategies.
- Textured vegetable protein is the major type of meat substitute consumed in India. It registered a growth of 35.38%, by value, from 2018 to 2021. Consumers in India have a long history of consuming soybeans and pulses for protein and view TVP meat substitutes as highly innovative, trendy, and healthy products. There is an increasing number of soy-based food producers in the nation who are witnessing increased opportunities and plan to expand their selection of soy protein products.
- Tempeh is the fastest-growing type in the Indian meat substitute market. It is projected to register a growth of 16.19%, by value, in the forecast period. Tempeh is a fermented food product that fits the functional food category and caters to the rapidly growing consumer interest in healthy living and eating. The Tempeh Today concept will be rolled out across India in the coming years. It hopes to have at least 100 Small Fermentation Units (SFUs) in operation by 2025. Tempeh Today hopes to eventually produce a total of 10,000 ton of tempeh a year to give the Indian diet a healthy and sustainable protein boost.
- The Indian meat substitute market is growing rapidly, eight alternate meat startups were launched during 2019–20, and five international and domestic players forayed into this segment during 2020–21. India has emerged as the largest consumer base in the world, with 63% of Indians either "very" or "extremely likely" to buy plant-based meat daily. Moreover, key initiatives have been taken by the government to support the meat substitute food processing sector, such as the Ministry of Health and Family Welfare's establishment of Eat Right India, which aims to help people in developing healthy choices and implement a sustainable diet utilizing plant-based substitutes to fight climate change.
India Meat Substitutes Industry Segmentation India Meat Substitutes Industry Segmentation
Tempeh, Textured Vegetable Protein, Tofu are covered as segments by Type. Off-Trade, On-Trade are covered as segments by Distribution Channel.
- Textured vegetable protein is the major type of meat substitute consumed in India. It registered a growth of 35.38%, by value, from 2018 to 2021. Consumers in India have a long history of consuming soybeans and pulses for protein and view TVP meat substitutes as highly innovative, trendy, and healthy products. There is an increasing number of soy-based food producers in the nation who are witnessing increased opportunities and plan to expand their selection of soy protein products.
- Tempeh is the fastest-growing type in the Indian meat substitute market. It is projected to register a growth of 16.19%, by value, in the forecast period. Tempeh is a fermented food product that fits the functional food category and caters to the rapidly growing consumer interest in healthy living and eating. The Tempeh Today concept will be rolled out across India in the coming years. It hopes to have at least 100 Small Fermentation Units (SFUs) in operation by 2025. Tempeh Today hopes to eventually produce a total of 10,000 ton of tempeh a year to give the Indian diet a healthy and sustainable protein boost.
- The Indian meat substitute market is growing rapidly, eight alternate meat startups were launched during 2019–20, and five international and domestic players forayed into this segment during 2020–21. India has emerged as the largest consumer base in the world, with 63% of Indians either "very" or "extremely likely" to buy plant-based meat daily. Moreover, key initiatives have been taken by the government to support the meat substitute food processing sector, such as the Ministry of Health and Family Welfare's establishment of Eat Right India, which aims to help people in developing healthy choices and implement a sustainable diet utilizing plant-based substitutes to fight climate change.
| Type | |
| Tempeh | |
| Textured Vegetable Protein | |
| Tofu | |
| Other Meat Substitutes |
| Distribution Channel | ||||||
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| On-Trade |
India Meat Substitutes Market Size Summary
The India Meat Substitutes Market is experiencing significant growth, driven by a rising consumer interest in plant-based diets and healthy living. Textured vegetable protein (TVP) is the predominant type of meat substitute in the country, benefiting from a historical preference for soybeans and pulses as protein sources. The market is characterized by the emergence of numerous soy-based food producers and innovative products like tempeh, which is gaining popularity due to its health benefits and functional food status. The government's initiatives, such as the Eat Right India campaign, further support the sector by promoting sustainable diets and plant-based substitutes. This growing demand is reflected in the increasing number of startups and international players entering the market, positioning India as a leading consumer base for plant-based meats.
The market's expansion is also supported by the development of infrastructure and production capabilities, such as the Tempeh Today initiative, which aims to establish fermentation units across India. Despite the rise in demand, the market remains fragmented, with a few key players holding a small share. Companies like Ahimsa Food, Beyond Meat Inc., GoodDot Enterprises, Imagine Foods Pvt. Ltd, and Impossible Foods Inc. are at the forefront, introducing new products and expanding their presence. The market's growth is further bolstered by the import of soybeans to meet the increasing demand for meat substitutes, highlighting the dynamic nature of the industry and its potential for continued expansion in the coming years.
India Meat Substitutes Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Type
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1.1.1 Tempeh
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1.1.2 Textured Vegetable Protein
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1.1.3 Tofu
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1.1.4 Other Meat Substitutes
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1.2 Distribution Channel
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1.2.1 Off-Trade
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1.2.1.1 Convenience Stores
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1.2.1.2 Online Channel
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1.2.1.3 Supermarkets and Hypermarkets
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1.2.1.4 Others
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1.2.2 On-Trade
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India Meat Substitutes Market Size FAQs
How big is the India Meat Substitutes Market?
The India Meat Substitutes Market size is expected to reach USD 355.85 million in 2024 and grow at a CAGR of 12.87% to reach USD 651.85 million by 2029.
What is the current India Meat Substitutes Market size?
In 2024, the India Meat Substitutes Market size is expected to reach USD 355.85 million.
