Market Size of india plant protein Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 0.91 Billion |
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Market Size (2029) | USD 1.21 Billion |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.85 % |
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Fastest Growing by End User | Personal Care and Cosmetics |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Plant Protein Market Analysis
The India Plant Protein Market size is estimated at 0.91 billion USD in 2024, and is expected to reach 1.21 billion USD by 2029, growing at a CAGR of 5.85% during the forecast period (2024-2029).
0.91 Billion
Market Size in 2024 (USD)
1.21 Billion
Market Size in 2029 (USD)
5.72 %
CAGR (2017-2023)
5.85 %
CAGR (2024-2029)
Largest Market by Product Type
60.43 %
value share, Soy Protein, 2023
Soy protein overpowers all the plant protein types due to its high protein content, low viscosity, solubility, etc., which caters to its extensive use in all sectors.
Largest Market by End User
67.45 %
value share, Food and Beverages, 2023
The demand for plant protein in F&B is the greatest, owing to the multifunctionality of plant proteins and the surging number of Chinese consumers shifting toward vegan meals.
Fastest Growing Market by Product Type
6.61 %
Projected CAGR, Hemp Protein, 2024-2029
Hemp protein is projected to be the fastest-growing plant protein type in India, contributed by its surging application due to high dietary fibers in the F&B industry.
Fastest Growing Market by End User
8.63 %
Projected CAGR, Personal Care and Cosmetics, 2024-2029
The demand for protein-enriched skin, body, and hair care products is on the rise. Players are offering protein ingredients with distinct concentrations as per the need.
Leading Market Player
3.63 %
market share, Südzucker AG, 2021
Suedzucker AG, with its subsidiary BENEO, adopted innovations in line with the changes in consumer trends in nutritional choices and functionalities to strengthen its market position in the country.
Food & beverage and animal feed together accounted for more than 60% of the share in 2022, due to rising veganism coupled with growing preference for plant-based foods as a sustainable alternative
- India has the highest number of vegetarians in Asia-Pacific, thus driving the demand for plant-based proteins in the country. Also, the growing inclination toward healthy, on-the-go meal options contributes to market growth. In 2021, about 70% of Indians were willing to focus on improving their overall health and immunity and lowering stress and anxiety by prioritizing dietary changes.
- The F&B segment dominates the market share. It is also anticipated to register a CAGR of 6.15%, by volume, during the forecast period. As of 2022, 24% of the Indian population was strictly vegetarian, 9% was vegan, and 8% was pescatarian. The high demand for food and beverages is attributable to the growing demand for meat alternatives and dairy alternatives amid the rising vegetarianism and veganism in the country.
- Among all the end-user segments, the personal care and cosmetics segment is likely to be the fastest-growing segment during the forecast period, with a CAGR of 8.36%, by volume. The major trend observed in the usage of plant protein ingredients is that high protein content ingredients have already been made available. Hence, the focus has shifted toward sustainable sources and the quality of the protein in the ingredients being offered.
- The COVID-19 pandemic exposed the vulnerability of the regional food service sector, which further drove consumers to the retail sector. Thus, the segment is expected to register a growth rate of 14.96%, by volume, during the forecast period. In 2020, 63% of Indian consumers were willing to buy plant-based protein items regularly, and COVID-19 has made people aware of immunity, which is a by-product of a healthy food lifestyle.
India Plant Protein Industry Segmentation
Hemp Protein, Pea Protein, Potato Protein, Rice Protein, Soy Protein, Wheat Protein are covered as segments by Protein Type. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User.
- India has the highest number of vegetarians in Asia-Pacific, thus driving the demand for plant-based proteins in the country. Also, the growing inclination toward healthy, on-the-go meal options contributes to market growth. In 2021, about 70% of Indians were willing to focus on improving their overall health and immunity and lowering stress and anxiety by prioritizing dietary changes.
- The F&B segment dominates the market share. It is also anticipated to register a CAGR of 6.15%, by volume, during the forecast period. As of 2022, 24% of the Indian population was strictly vegetarian, 9% was vegan, and 8% was pescatarian. The high demand for food and beverages is attributable to the growing demand for meat alternatives and dairy alternatives amid the rising vegetarianism and veganism in the country.
- Among all the end-user segments, the personal care and cosmetics segment is likely to be the fastest-growing segment during the forecast period, with a CAGR of 8.36%, by volume. The major trend observed in the usage of plant protein ingredients is that high protein content ingredients have already been made available. Hence, the focus has shifted toward sustainable sources and the quality of the protein in the ingredients being offered.
- The COVID-19 pandemic exposed the vulnerability of the regional food service sector, which further drove consumers to the retail sector. Thus, the segment is expected to register a growth rate of 14.96%, by volume, during the forecast period. In 2020, 63% of Indian consumers were willing to buy plant-based protein items regularly, and COVID-19 has made people aware of immunity, which is a by-product of a healthy food lifestyle.
| Protein Type | |
| Hemp Protein | |
| Pea Protein | |
| Potato Protein | |
| Rice Protein | |
| Soy Protein | |
| Wheat Protein | |
| Other Plant Protein |
| End User | |||||||||||||
| Animal Feed | |||||||||||||
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| Personal Care and Cosmetics | |||||||||||||
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India Plant Protein Market Size Summary
The India Plant Protein Market is experiencing significant growth, driven by the country's large vegetarian population and increasing consumer interest in healthy, on-the-go meal options. The food and beverage segment holds a dominant share of the market, fueled by the rising demand for meat and dairy alternatives. This trend is further supported by a growing awareness of health and immunity, particularly following the COVID-19 pandemic, which has shifted consumer preferences towards plant-based proteins. The market is also witnessing a surge in the personal care and cosmetics segment, which is expected to be the fastest-growing area during the forecast period. The availability of high-protein plant ingredients and a focus on sustainable and quality sources are key factors contributing to this growth.
India's robust production of key plant protein commodities such as rice, wheat, soy, and peas supports the market's expansion. The country is a leading global producer of these commodities, benefiting from favorable agricultural conditions and advancements in farming practices. Despite the high production, there is a notable protein deficiency among the population, highlighting a gap in awareness and regular consumption. The market is fragmented, with major players like Archer Daniels Midland Company and Südzucker AG actively expanding their offerings to meet the growing demand for plant-based alternatives. Innovations in product development, such as new rice protein lines and strategic acquisitions, are further enhancing the market landscape, catering to the increasing consumer preference for plant protein-fortified foods.
India Plant Protein Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Protein Type
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1.1.1 Hemp Protein
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1.1.2 Pea Protein
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1.1.3 Potato Protein
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1.1.4 Rice Protein
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1.1.5 Soy Protein
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1.1.6 Wheat Protein
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1.1.7 Other Plant Protein
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1.2 End User
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1.2.1 Animal Feed
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1.2.2 Food and Beverages
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1.2.2.1 By Sub End User
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1.2.2.1.1 Bakery
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1.2.2.1.2 Beverages
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1.2.2.1.3 Breakfast Cereals
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1.2.2.1.4 Condiments/Sauces
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1.2.2.1.5 Confectionery
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1.2.2.1.6 Dairy and Dairy Alternative Products
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1.2.2.1.7 Meat/Poultry/Seafood and Meat Alternative Products
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1.2.2.1.8 RTE/RTC Food Products
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1.2.2.1.9 Snacks
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1.2.3 Personal Care and Cosmetics
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1.2.4 Supplements
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1.2.4.1 By Sub End User
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1.2.4.1.1 Baby Food and Infant Formula
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1.2.4.1.2 Elderly Nutrition and Medical Nutrition
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1.2.4.1.3 Sport/Performance Nutrition
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India Plant Protein Market Size FAQs
How big is the India Plant Protein Market?
The India Plant Protein Market size is expected to reach USD 909.78 million in 2024 and grow at a CAGR of 5.85% to reach USD 1.21 billion by 2029.
What is the current India Plant Protein Market size?
In 2024, the India Plant Protein Market size is expected to reach USD 909.78 million.
