Plant-based Meat Processing Industry: A Sunrise Sector in India
As the global shift toward plant-based diets gains momentum, the plant-based meat processing industry is emerging as a sunrise sector, witnessing robust growth. The demand for plant-based meat which is also known as mock meat is growing rapidly across the globe. According to a report by Grand View Research, the plant-based meat processing market is projected to grow at a CAGR of 19.4% between 2027, signifying the ongoing trend. With consumers becoming more aware of the health benefits of the plant-based diet, the market for plant-based meat and other plant-based food products is going to register significant growth in the future.
In India, a traditionally non-vegetarian country, the acceptance of plant-based meat processing products is on the rise, driven by health consciousness and dietary preferences. This blog explores the current scenario of the plant-based meat market in India, its target customers, major players, raw materials, and products. It also sheds light on the opportunities and challenges in the industry, especially for aspiring entrepreneurs.
Plant-based Meat Market Scenario in India
While India has been predominantly non-vegetarian, the plant-based meat concept is gaining ground, fueled by increasing awareness of health benefits and immunity-boosting properties, especially during the COVID-19 pandemic.
The Government of India is also encouraging people to make the right food choices and adopt a sustainable and plant-based diet for better health through several programs like Eat Right India, etc. This in turn is opening up huge opportunities to plant-based meat processing start-ups and processing companies in India.
Target Customers
While the rural customer segment is still cautious about the consumption of processed foods including plant-based meat, the urban customers are welcoming these food products in a big way.
Following is the list of the prospective customer segments of plant-based meat processing industry:
- Vegetarians
- Millennials
- Young people
- Urban middle-class people
- Health-conscious people
- People with protein deficiency
Major Players: A Blend of Giants and Start-ups
Global giants like Beyond Meat and Archer Daniels Midland dominate the plant-based meat processing industry, but India boasts several domestic players, including Blue Tribe Foods, Evolved Foods, GreenestFoods, Urban Platter, and GoodDot. The landscape is evolving, and the industry is ripe for both foreign and domestic investments.
Taking into account the growing market for plant-based meat products in the country, the industry is expected to become large attracting huge investments from foreign as well as domestic industries. Particularly, the MSMEs are expected to play a major role in the industry across the value chain right raw material processing to delivering finished products.
Raw Materials
The major raw materials required for plant-based meat are pulses, soybean, potato, wheat, sunflower oil, coconut oil, etc. As almost all these raw materials are available abundantly in India, the opportunities for the plant-based meat processing industry are good in the country.
Products to Explore: Beyond the Basics
Some of the major product categories in the plant-based meat segment include:
- Curry Kit
- Curry Paste
- Noodles
- Biryani
- Pulao
- Burger
- Sausage
- Meatballs
Apart from plant-based meat, the trending products in plant-based foods are plant-based milk, nut butter, plant-based milk powder, vegan spreads, vegan meat, vegan milk, instant vegan coffee, and tea premix, etc.
As the plant-based meat processing industry is poised for rapid growth, a lot of entrepreneurs are foraying into the sector. However, starting a plant-based meat processing business is difficult without food experts’ help.
How SolutionBuggy Facilitates Industry Entry: From Concept to Execution
SolutionBuggy, a leading platform connecting entrepreneurs with industry experts, plays a pivotal role in guiding aspiring entrepreneurs through every phase of the plant-based meat processing business. SolutionBuggy provides end-to-end support.
If you are planning to start setting up a plant-based meat processing industry, we can help in the complete execution of the project right from product identification, market research, and new plant setup to process improvement, business development, and supply chain management. To know more details, connect with SolutionBuggy experts.
Conclusion
As the plant-based meat processing industry in India continues to gather momentum, entrepreneurs equipped with industry insights and expert guidance are poised for success. SolutionBuggy, with its vast network of food processing consultants, empowers individuals to navigate the complexities of the plant-based meat processing business, ensuring a flavorful journey from concept to execution. For those ready to embark on this exciting venture, SolutionBuggy awaits your registration, offering comprehensive support for a thriving plant-based meat processing enterprise in India.
Frequently Asked Questions (FAQs)
1. What is mock meat made up of?
The plant-based meat products are made up of beans, soy, peas, mushrooms, and other non-animal products that make them look and taste like the original meat.
2. Is plant-based meat healthy?
As per the research by the U.S. National Institutes of Health, plant-based meat products cause no harm to human health. They are a very good source of fiber, Vitamin B, and iron required for the proper functioning of the body.
3. What are various products of plant-based meat?
Curry kits, curry paste, noodles, biryani, pulao, burger, sausage, meatballs, etc. are some of the major products under plant-based meat.
4. What is the future of the plant-based meat processing industry in India?
The demand for plant-based meat products is growing in the Indian market, particularly in the urban segments. So, the future of the plant-based meat processing industry in India looks optimistic.
5. How to start a plant-based meat processing industry?
Given the innovative nature of plant-based meat products, it is advisable to get help from the experts while formulating the product which is an essential step in starting the plant.
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