SOWING THE SEEDS OF GROWTH: AN OUTLOOK ON INDIA’S PLANT-BASED FOODS SECTOR
Globally, the Plant-based foods industry is experiencing a transformational shift, driven by increasing consumer demand for health-conscious dietary options. As more individuals, mindful of environmental impact and personal health benefits, transition towards plant-based diets, the sector is witnessing growth through product innovations and cross-industry collaborations.
In India, the landscape is particularly dynamic. With a rich heritage of vegetarianism and a population increasingly open to global dietary trends, the plant-based foods market is poised at an interesting point.
Our research reveals that the Indian plant-based foods market reached a value of INR 300 Crore (~US$36 million) in 2024, growing at 18% in the past 3 years and accounting for only <0.1% of the traditional dairy and meat market as compared to 1.1% in the US (2023), indicating a huge growth potential. The plant-based dairy segment is significantly outpacing plant-based meat, capturing a dominant share of this growing market. This trend aligns with the global scenario as well.
India, with its rich history of vegetarianism and a deep-rooted cultural connection to plant-based cuisine, is uniquely positioned to embrace this shift. The burgeoning interest in health and wellness, coupled with increasing awareness of lactose intolerance and protein deficiency, further fuels the demand for plant-based alternatives
