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India Meat Substitutes Market

India Meat Substitutes Market

India Meat Substitutes Market, By Product Type (Textured Vegetable Protein, Soy-based products, Wheat-based products, Pea protein-based, Mushroom-based); By Source (Plant-based, Lab-grown); By Price (Premium, Mid-Range, Economy Segment); By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: March 2024
  • Report ID: BWC24219
  • Available Format: PDF
  • Page: 200

Report Overview

Growing preference for vegetarian food products driven by health and environmental concerns and an increasing level disposable income are expected to drive the India Meat Substitutes Market during the forecast period between 2024 and 2030.

India Meat Substitutes Market – Industry Trends & Forecast Report, 2030

India Meat Substitutes Market size was estimated at USD 41.52 million in 2023. During the forecast period between 2024 and 2030, the India Meat Substitutes Market size is projected to grow at a CAGR of 7.87% reaching a value of USD 56.75 million by 2030. A prominent driver of the market is the increasing adoption of plant-powered innovations. In a predominantly vegetarian market, religious beliefs significantly influence the preference for vegetarian over meat products in India. The COVID-19 pandemic has further intensified this inclination towards vegetarian and vegan choices, especially among traditional meat consumers, fostering a heightened interest in plant-based meat alternatives. The market expansion is fueled by the growing appeal of healthier, sustainable, and cruelty-free options, with high-income consumers driving this trend.

India Meat Substitutes Market

By volume, the India Meat Substitutes Market size was estimated at 27.21 hundred tons in 2023. During the forecast period between 2024 and 2030, the India Meat Substitutes Market size is projected to grow at a CAGR of 6.75% reaching the volume of 39.33 hundred tons by 2030. Ethical consumerism and environmental awareness contribute to the demand for plant-based meat products, while increased consciousness regarding the environmental impact of meat production prompts eco-conscious consumers to limit or avoid meat consumption. Key market players are proactively responding to this shift by introducing a variety of plant-based offerings that replicate taste, texture, and nutritional profiles, reflecting the evolving preferences of Indian consumers. An example is CCL's recent launch of high-protein plant-based meat alternatives, branded as "Continental Greenbird," strategically capitalizing on the evolving mindful eating choices in the market.

Meat Substitutes – Overview

Meat substitutes, also known as meat analogs, present a healthy alternative to traditional meat, closely mimicking its chemical and sensory attributes, including appearance, taste, flavor, and texture. Referred to as mock meat, faux meat, or imitation meat, these substitutes gain popularity due to rising concerns over animal diseases, global shortages of animal proteins, and a growing demand for religious dietary choices. Commonly derived from soy (e.g., tofu, tempeh), gluten, pea protein, or Mycoprotein, meat analogs offer a satisfying culinary experience, replicating the characteristics of specific meats. Beyond serving vegetarians, the market for meat substitutes extends to non-vegetarians aiming to reduce meat consumption. Recognizing the health implications of excessive meat intake, these substitutes supplement essential nutrients, such as vitamins, proteins, and fats, ensuring a balanced nutritional profile while meeting diverse dietary preferences.

India Meat Substitutes Market

Growth Drivers

Growing Vegetarian Population

In recent years, there has been a notable surge in the adoption of vegetarianism, with an increasing acceptance of the concept. Those transitioning from a predominantly meat-based diet to a plant-based, vegetarian lifestyle may find meat alternatives beneficial. With a population of 1.38 billion as of March 2021, constituting about 18% of the global population, India boasts the highest percentage of vegetarians worldwide, accounting for approximately 30% of its population according to a Government of India census. Religious customs and moral principles strongly influence vegetarian practices in India. The remaining 70% of the population, termed "flexitarians," predominantly adhere to a vegetarian diet but occasionally include small amounts of meat or fish in their weekly consumption.

Rising Health Awareness

The burgeoning wave of health consciousness is a pivotal catalyst driving the remarkable growth of the India Meat Substitutes Market. A noticeable surge in consumer interest towards plant-based diets, encompassing a rich variety of fruits, vegetables, and nuts, is complemented by an escalating awareness of animal rights championed by various organizations. Plant-based mock meat has emerged as a cornerstone within the thriving vegan movement, a testament to individuals embracing vegetarian practices for both ethical considerations and improved health. The ascent of mock meat, skillfully replicating the taste and texture of conventional meat, harmonizes with the growing inclination toward healthier dietary choices. As health-related concerns take center stage, the market for plant-based meat substitutes is poised for robust expansion, further amplified by the endorsement of influential social media figures, celebrities, and the expanding urban populace in India. Despite being in its nascent phases, the India Meat Substitutes Market is experiencing steady growth, fueled by an increasing awareness of health-conscious alternatives.

Challenges

Limited Availability

The growth of the India Meat Substitutes Market faces constraints due to limited availability. Vegan food products and plant-based meat alternatives are new to the market, with low awareness, particularly among educated urban consumers. The perception of high costs, combined with restricted availability in rural and remote areas, hinders widespread adoption. Furthermore, the prevalent belief in the inferior taste and texture of plant-based meat compared to traditional options adds to the market challenges. Overcoming these limitations is crucial for fostering market growth, necessitating increased accessibility, awareness, and efforts to enhance consumer trust through transparent information about product ingredients and origins.

Impact of Escalating Geopolitical Tensions on India Meat Substitutes Market

The India Meat Substitutes Market faces potential challenges due to escalating geopolitical tensions. These tensions may disrupt supply chains, impacting the availability of key ingredients for meat substitutes. Trade restrictions, uncertainties, and geopolitical conflicts can lead to fluctuations in pricing and pose obstacles to the smooth operation of the market. Additionally, geopolitical tensions may influence consumer behavior, affecting purchasing patterns and preferences. As the market relies on stability and accessibility, any disturbances in the geopolitical landscape could have adverse effects on the overall growth and dynamics of the India Meat Substitutes Market. Continuous monitoring and strategic adaptation are essential for mitigating potential risks in this volatile environment.

India Meat Substitutes Market

Segmental Coverage

India Meat Substitutes Market – By Product Type

By product type, the India Meat Substitutes Market is divided into Textured Vegetable Protein, Soy-based products, Wheat-based products, Pea protein-based, and Mushroom-based segments. The soy-based products segment holds the highest share in the India Meat Substitutes Market by product type. It is primarily due to the country's substantial soybean consumption, ranking sixth globally. With 52% of production in Madhya Pradesh and rising demand for protein-rich diets, soybeans have become integral to millions of livelihoods. Soy products like tofu, soy milk, and soy flour witness increasing consumption, particularly in wealthier metropolitan areas. Despite soybean market volatility and weather-related challenges, India's soybean production is projected to grow, further solidifying soy-based products' pivotal role in the meat substitutes market. This trend aligns with the country's evolving dietary preferences and supports the thriving market for healthier and sustainable alternatives. Meanwhile the textured vegetable protein (TVP) segment is expected to witness the fastest growth rate during the forecast period. With a historical inclination towards soybeans and pulses for protein, Indian consumers perceive TVP meat substitutes as innovative, trendy, and health-conscious choices. The nation witnesses a rising number of soy-based food producers, capitalizing on expanding opportunities and planning to diversify their offerings within the soy protein product category. This trend underscores the dynamic landscape of the Indian meat substitutes market, highlighting the increasing popularity and demand for TVP as a favored alternative to traditional meat products.

India Meat Substitutes Market Share

India Meat Substitutes Market – By Source

Based on source, the India Meat Substitutes Market is bifurcated into Plant-based and Lab-grown segments. The plant-based segment holds a higher share in the India Meat Substitutes Market by source. It is primarily driven by a substantial vegetarian population and a growing preference for healthier food choices. Despite the relatively recent introduction of plant-based meats in the country, consumers display a remarkable openness to this innovative category. This receptiveness has attracted both domestic and international manufacturers, recognizing consumers' willingness to pay a premium for high-value plant-based alternatives. Collaborations between Indian firms and global food processors have further fueled the industry's growth, leading to the development of innovative meat substitutes derived from diverse plant-based ingredients. This thriving sector presents promising opportunities for the US exporters in both consumer-oriented products and raw materials, aligning with the evolving tastes of the Indian market.

India Meat Substitutes Market Size

India Meat Substitutes Market – By Price

On the basis of price, the India Meat Substitutes Market is divided into Premium, Mid-Range, and Economy segments.

India Meat Substitutes Market – By Distribution Channel

By distribution channel, the India Meat Substitutes Market is divided into Supermarkets & Hypermarkets, Convenience Stores, and Online segments. The supermarkets & hypermarkets segment holds the highest share in the India Meat Substitutes Market by distribution channel. It can be attributed to the convenience and extensive product variety these retail outlets offer. Supermarkets and hypermarkets provide a one-stop shopping experience, making meat substitutes easily accessible to a broad consumer base. The large display spaces allow for a diverse range of products, attracting health-conscious consumers seeking plant-based alternatives. Additionally, the prominence of supermarkets and hypermarkets in urban and suburban areas caters to the evolving dietary preferences of a growing population, contributing to their highest market share in the distribution channel for meat substitutes in India.

India Meat Substitutes Market Demand

India Meat Substitutes Market – By Region

Geographically, the India Meat Substitutes Market is divided into North India, South India, East India, and West India regions.

Competitive Landscape

Major players operating in India Meat Substitutes Market include Blue Tribe Foods, Imagine Meats, Beyond Meat, Tata Consumer Products, CCL Products, GREENEST, ITC Limited, Veggie Champ, Vezlay Foods Pvt Ltd, Ahimsa Food, Shaka Harry, BVeg Foods, and GoodDot. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In November 2023 - Nestle India, a leading FMCG player, announced its plans to introduce plant-based protein products in the country. Globally, Nestle offers plant-based alternatives like Sensational VUNA and vrimp.

  • In June 2023 - Goa's Wakao Foods achieved a milestone by exporting its largest-ever 13-ton consignment of jackfruit-based plant meat to the United States. The shipment, featuring various products like nuggets, sausages, and burgers, is a pioneering move for an Indian plant-based meat company. With a focus on the US market, Wakao Foods is tapping into the growing trend of plant-based meat exports from India, propelled by the expanding vegan and vegetarian population.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

By Value - USD Million in Value

By Volume - Hundred Tons 

Market Coverage

India

Product/ Service Segmentation

Product Type, Source, Price, Distribution Channel, Region

Key Players

Blue Tribe Foods, Imagine Meats, Beyond Meat, Tata Consumer Products, CCL Products, GREENEST, ITC Limited, Veggie Champ, Vezlay Foods Pvt Ltd, Ahimsa Food, Shaka Harry, BVeg Foods, GoodDot

 

By Product Type

  • Textured Vegetable Protein

  • Soy-based products

  • Wheat-based products

  • Pea protein-based

  • Mushroom-based

By Source

  • Plant-based

  • Lab-grown

By Price

  • Premium

  • Mid-Range

  • Economy

By Distribution Channel

  • Supermarkets & Hypermarkets

  • Convenience Stores

  • Online

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Meat Substitutes Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising health awareness
        2. Growing vegetarian population
        3. Environmental concerns
        4. Increasing disposable income
      2. Restraints
        1. Price sensitivity
        2. Unrealistic taste and texture
        3. Limited availability
        4. Lack of awareness
      3. Opportunities
        1. Expansion of distribution channels
        2. Targeting specific consumer segments
        3. Diversification of product offerings
      4. Challenges
        1. Competition from established meat industry
        2. Misinformation and skepticism
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Meat Substitutes Market: Marketing Strategies
  5. India Meat Substitutes Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Hundred tons)
    2. Market Share & Forecast
      1. By Product Type
        1. Textured Vegetable Protein
        2. Soy-based products
        3. Wheat-based products
        4. Pea protein-based
        5. Mushroom-based
        6. Other plant-based proteins
      2. By Source
        1. Plant-based
        2. Lab-grown
        3. Others
      3. By Price
        1. Premium
        2. Mid-Range
        3. Economy
      4. By Distribution Channel
        1. Supermarkets and Hypermarkets
        2. Convenience Stores
        3. Online
      5. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  6. North India Meat Substitutes Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Hundred tons)
    2. Market Share & Forecast
      1. By Product Type
      2. By Source
      3. By Price
      4. By Distribution Channel
  7. South India Meat Substitutes Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Hundred tons)
    2. Market Share & Forecast
      1. By Product Type
      2. By Source
      3. By Price
      4. By Distribution Channel
  8. East India Meat Substitutes Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Hundred tons)
    2. Market Share & Forecast
      1. By Product Type
      2. By Source
      3. By Price
      4. By Distribution Channel
  9. West India Meat Substitutes Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Hundred tons)
    2. Market Share & Forecast
      1. By Product Type
      2. By Source
      3. By Price
      4. By Distribution Channel
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Meat Substitutes Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Escalating Geopolitical Tensions on India Meat Substitutes Market
  12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Blue Tribe Foods
    2. Imagine Meats
    3. Beyond Meat
    4. Tata Consumer Products
    5. CCL Products
    6. GREENEST
    7. ITC Limited
    8. Veggie Champ
    9. Vezlay Foods Pvt Ltd
    10. Ahimsa Food
    11. Shaka Harry
    12. BVeg Foods
    13. GoodDot
    14. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       India Meat Substitutes Segmentation

Figure 2       India Meat Substitutes Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Figure 5       India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Figure 6       India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Figure 7       India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Figure 8       India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Figure 9       India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Figure 10     India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Figure 11     India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Figure 12     India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Figure 13     India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 14     India Meat Substitutes Market Share, By Region, By Value, 2019–2030

Figure 15     India Meat Substitutes Market Share, By Region, By Volume, 2019–2030

Figure 16     North India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Figure 17     North India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Figure 18     North India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Figure 19     North India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Figure 20     North India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Figure 21     North India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Figure 22     North India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Figure 23     North India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Figure 24     North India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Figure 25     North India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 26     South India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Figure 27     South India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Figure 28     South India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Figure 29     South India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Figure 30     South India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Figure 31     South India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Figure 32     South India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Figure 33     South India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Figure 34     South India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Figure 35     South India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 36     East India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Figure 37     East India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Figure 38     East India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Figure 39     East India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Figure 40     East India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Figure 41     East India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Figure 42     East India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Figure 43     East India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Figure 44     East India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Figure 45     East India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 46     West India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Figure 47     West India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Figure 48     West India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Figure 49     West India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Figure 50     West India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Figure 51     West India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Figure 52     West India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Figure 53     West India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Figure 54     West India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Figure 55     West India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

 

List of Tables

Table 1        India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Table 2        India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Table 3        India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Table 4        India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Table 5        India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Table 6        India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Table 7        India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Table 8        India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Table 9        India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Table 10      India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Table 11      India Meat Substitutes Market Share, By Region, By Value, 2019–2030

Table 12      India Meat Substitutes Market Share, By Region, By Volume, 2019–2030

Table 13      North India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Table 14      North India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Table 15      North India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Table 16      North India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Table 17      North India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Table 18      North India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Table 19      North India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Table 20      North India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Table 21      North India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Table 22      North India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Table 23      South India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Table 24      South India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Table 25      South India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Table 26      South India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Table 27      South India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Table 28      South India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Table 29      South India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Table 30      South India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Table 31      South India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Table 32      South India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Table 33      East India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Table 34      East India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Table 35      East India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Table 36      East India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Table 37      East India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Table 38      East India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Table 39      East India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Table 40      East India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Table 41      East India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Table 42      East India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Table 43      West India Meat Substitutes Market Size, By Value (USD Million), 2019–2030

Table 44      West India Meat Substitutes Market Size, By Volume (Hundred tons), 2019–2030

Table 45      West India Meat Substitutes Market Share, By Product Type, By Value, 2019–2030

Table 46      West India Meat Substitutes Market Share, By Product Type, By Volume, 2019–2030

Table 47      West India Meat Substitutes Market Share, By Source, By Value, 2019–2030

Table 48      West India Meat Substitutes Market Share, By Source, By Volume, 2019–2030

Table 49      West India Meat Substitutes Market Share, By Price, By Value, 2019–2030

Table 50      West India Meat Substitutes Market Share, By Price, By Volume, 2019–2030

Table 51      West India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019–2030

Table 52      West India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019–2030

Table 53      Blue Tribe Foods Company Overview

Table 54      Blue Tribe Foods Company Overview

Table 55      Imagine Meats Company Overview

Table 56      Imagine Meats Company Overview

Table 57      Beyond Meat Company Overview

Table 58      Beyond Meat Company Overview

Table 59      Tata Consumer Products Company Overview

Table 60      Tata Consumer Products Company Overview

Table 61      CCL Products Company Overview

Table 62      CCL Products Company Overview

Table 63      GREENEST Company Overview

Table 64      GREENEST Company Overview

Table 65      ITC Limited Company Overview

Table 66      ITC Limited Company Overview

Table 67      Veggie Champ Company Overview

Table 68      Veggie Champ Company Overview

Table 69      Vezlay Foods Pvt. Ltd. Company Overview

Table 70      Vezlay Foods Pvt. Ltd. Company Overview

Table 71      Ahimsa Food Company Overview

Table 72      Ahimsa Food Company Overview

Table 73      Shaka Harry Company Overview

Table 74      Shaka Harry Company Overview

Table 75      BVeg Foods Company Overview

Table 76      BVeg Foods Company Overview

Table 77      GoodDot Company Overview

Table 78      GoodDot Company Overview

Table 79      Other Prominent Players Company Overview

Table 80      Other Prominent Players Company Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: India Meat Substitutes Market size was estimated at USD 41.52 million in 2023.
Ans: India Meat Substitutes Market is expected to grow at a CAGR of 7.87% during the forecast period between 2024 and 2030.
Ans: India Meat Substitutes Market size is forecast to reach a value of USD 56.75 million by 2030.
Ans: The growth of the India Meat Substitutes Market is primarily driven by the rising health awareness, growing vegetarian population, environmental concerns, and increasing disposable income.
Ans: India Meat Substitutes Market size by volume was estimated at 2,721 tons in 2023.
Ans: By Volume, the India Meat Substitutes Market size is expected to grow at a CAGR of 6.75% during the forecast period between 2024 and 2030.
Ans: India Meat Substitutes Market size by volume is forecast to reach 3,933 tons by 2030.
Ans: Key players in India Meat Substitutes Market include Blue Tribe Foods, Imagine Meats, Beyond Meat, Tata Consumer Products, CCL Products, GREENEST, ITC Limited, Veggie Champ, Vezlay Foods Pvt. Ltd., Ahimsa Food, Shaka Harry, BVeg Foods, and GoodDot.
Ans: The soy-based products segment holds a major share in the India Meat Substitutes Market by product type.
Ans: The plant-based segment is expected to grow at a faster CAGR in the India Meat Substitutes Market during the forecast period between 2024 and 2030.
Ans: The supermarkets & hypermarkets segment holds a major share in the India Meat Substitutes Market by distribution channel.