As the global food landscape shifts towards more sustainable and health-conscious choices, the plant protein industry in India is experiencing a remarkable surge. This industry, driven by a growing consumer base that values nutrition, environmental sustainability, and animal welfare, is poised to revolutionise how we perceive and consume protein.
India is emerging as a key player in the global plant-based protein market. Despite its large population, per capita protein consumption is low, creating a significant opportunity for companies to introduce healthy, affordable plant-based protein products. Over the past few years, the plant protein sector in India has grown exponentially. The market is expected to witness a compound annual growth rate (CAGR) of over 10% to reach US$ 1.2 billion by 2030. The India plant protein market size reached US$ 78.6 Million in 2023 and is projected to soar from approximately $340 million to $500 million, achieving a compound annual growth rate (CAGR) of 20.7% by 2030.
Abhishek Sinha, Founder of GoodDot, exclaimed, “At GoodDot, we are delighted to see this hypothesis come to fruition with our growth in revenue and B2B partnerships across India. Plant-based proteins offer chefs a versatile base to create unique flavours and textures, expanding vegetarian protein options beyond paneer. Our team at GoodDot is dedicated to promoting compassionate and healthy food choices in India and globally.” A shift in consumer preferences towards healthier and more sustainable food options fuels this growth. “The increasing awareness of health benefits, ethical concerns regarding animal welfare, and the need for environmental sustainability are key drivers behind this remarkable growth. With a large vegetarian population and a growing number of flexitarians, India is perfectly poised to become a leader in the plant protein industry.”, he said.
The United Nations has been a staunch advocate for sustainable food practices, and its support has played a crucial role in the development of the plant protein industry in India. Initiatives like the UN’s “Act Now” campaign emphasise the importance of sustainable diets and encourage the consumption of plant alternatives to reduce the environmental impact of food production. The UN’s backing provides a significant boost to the credibility and acceptance of plant proteins, aligning global sustainability goals.
The shift towards plant protein is not only a health-conscious choice but also a significant step in protecting our environment. Traditional meat production is a major contributor to greenhouse gas emissions, deforestation, and water scarcity. By contrast, plant protein production reduces carbon emissions by up to 90%, uses 46% less energy, and requires 99% less water. The Food and Agriculture Organization (FAO) estimates that livestock farming accounts for 14.5% of all human-induced emissions. A study published in the journal Science found that a global shift to plant diets could reduce food-related greenhouse gas emissions by up to 70%. By adopting plant proteins, consumers can play a crucial role in mitigating climate change and preserving natural resources for future generations.
Prosenjit Roychoudhury, CEO, Absolute Barbecues said, “At Absolute Barbecues, our priority is always to deliver exceptional taste and a unique dining experience for our guests. Introducing plant-based proteins like those from GoodDot has also allowed our chefs to explore new culinary possibilities, offering protein dishes that are rich in texture, packed with dietary fibre, and high in protein. This isn’t just about adding another option to our menu, but it is about providing something truly different and exciting for our customers. We’re thrilled to offer these plant-based dishes that appeal to both vegetarians and others eager to try something new. While our focus remains on delivering great taste, we’re also pleased to incorporate a sustainable product into our offerings, adding extra value without compromising the experience our guests expect.”
Hotels and restaurants are showing support for the inclusion of plant protein in the menus, which has significantly increased the usage and consumption of plant-based protein. This step aims to promote sustainable eating habits and cater to the growing number of health-conscious and environmentally aware consumers. Integrating plant options into mainstream dining, this does not only expands consumer choice but also drives demand for plant protein products.
Jasmit Tibb and Harpreet Tibb, Founders, Tibbs Frankie, said, “The plant-based meat industry is rapidly evolving, and it’s an exciting time for culinary innovation. At Tibbs, we recognise the immense potential of this industry to offer sustainable and healthy alternatives without compromising on taste. We are proud to be at the forefront of this revolution, particularly through our collaboration with GoodDot. Their expertise in plant-based protein has allowed us to create a product that not only meets the growing demand for high-protein, plant-based options but also aligns perfectly with our commitment to delivering delicious and wholesome food. The launch of this product marks a significant step in redefining fast food in India, offering our customers nutritious, flavorful choices that cater to their evolving tastes and dietary preferences. We believe that the plant-based meat industry is poised to become the future of the food landscape that offers better options for our health and the environment.”
Top hotels and restaurants in India, like Taj, The Park, HRH Group, and Bademiya, are embracing plant proteins, adding sustainable options to their gourmet menus and embracing their commitment towards sustainability and evolving customer demands. Compass Group also offers plant-based toppings in its corporate cafeterias, catering to diverse dietary preferences.The plant protein industry in India is not just a fleeting trend; it is a transformative movement towards a healthier and more sustainable future. With robust support from the UN, progressive government policies, and enthusiastic adoption by top restaurant chains and innovative brands, this industry is set to redefine the Indian food landscape. The environmental benefits, coupled with the health advantages and ethical considerations, make plant proteins a compelling choice for consumers and businesses alike.