Report Overview

India Plant Protein Market – Industry Trends & Forecast Report, 2030

India Plant Protein Market size was estimated at USD 427.9 million in 2023. During the forecast period between 2024 and 2030, India Plant Protein Market size is projected to grow at a CAGR of 5.9% reaching a value of USD 629.9 million by 2030. Prominent drivers of the market include increasing production of plant proteins such as soybeans, rice, peas, and wheat enhances ingredient availability for innovative food applications. Rising veganism, driven by internet-savvy youth and vegan influencers, has also significantly influenced consumer preferences, with over a million Indians adopting vegan or vegetarian lifestyles. The shift from dairy to plant protein-fortified foods, particularly among younger generations, highlights changing dietary trends. For instance, 63% of surveyed Indians in 2019 expressed willingness to replace meat with plant-based alternatives. To meet growing demand, companies like Evolved Foods and Schouten have introduced innovative products such as vegan alternatives and tempeh.

Plant Protein – Overview

Plant protein refers to proteins derived from plant-based sources, such as legumes (soybeans, peas, lentils), grains (wheat, rice, quinoa), nuts, seeds, and vegetables. These proteins are rich in essential amino acids, offering a sustainable and health-conscious alternative to animal proteins. Widely used in food, beverages, nutritional supplements, and animal feed, plant proteins cater to vegan and vegetarian diets while addressing health and environmental concerns. Popular variants like soy, pea, and wheat proteins are key ingredients in products such as plant-based milk, meat substitutes, and protein bars, making them essential for promoting sustainable and nutritious dietary options.

India Plant Protein Market

Growth Drivers

Growing Popularity of Vegan and Vegetarian Movements

The growing vegan and vegetarian movements are significantly boosting the India Plant Protein Market, driven by a shift towards sustainable and ethical dietary choices. India, home to the world’s largest vegetarian population, is witnessing increased consumer interest in plant-based alternatives, fueled by rising health consciousness, environmental awareness, and changing lifestyle preferences. A 2019 survey revealed that 63% of Indians are open to replacing meat with plant-based options, reflecting a substantial market potential. This trend is further supported by innovative offerings, such as plant-based meat and dairy alternatives, introduced by startups and FMCG companies. These movements are reshaping dietary habits and driving India Plant Protein Market.

Challenges

Limited Palatability and Texture

Limited palatability and texture pose significant challenges to the growth of India Plant Protein Market. Many plant-based protein products struggle to match the taste and mouthfeel of traditional animal-based counterparts, making them less appealing to a broader audience. Consumers often cite issues like grainy textures, bland flavors, or aftertastes in plant protein alternatives, particularly in meat and dairy substitutes. These sensory drawbacks hinder widespread adoption, especially among non-vegetarians and flexitarians. To overcome this, manufacturers are investing in research and development to enhance the taste and texture of plant protein products, aiming to attract a larger consumer base.

Impact of Escalating Geopolitical Tensions on India Plant Protein Market

Escalating geopolitical tensions among countries and further spreading across major regions could have a significant impact on the growth of India Plant Protein Market. Disruptions in global trade and supply chains could affect the availability and pricing of raw materials such as soybeans, peas, and other key plant protein sources. Increased import tariffs, sanctions, or transportation delays may lead to higher production costs, impacting market competitiveness. Additionally, geopolitical uncertainties could shift consumer spending patterns, potentially influencing demand for premium plant-based products. However, these challenges may encourage domestic sourcing and innovation, fostering local production and reducing dependence on international markets for raw materials.

India Plant Protein Market

Segmental Coverage

India Plant Protein Market – By Product Type

By product type, India Plant Protein Market is divided into Soy Protein, Pea Protein, Wheat Protein, and other segments. The soy protein segment holds the largest share of India Plant Protein Market by product type. The soy protein segment leads the India Plant Protein Market by product type, driven by its high production, nutritional benefits, and widespread applications. India ranks among the top soybean producers globally, with production increasing significantly between 2015 and 2020, supported by state-level programs and initiatives. For instance, in collaboration with the Public-Private Partnership for Integrated Agriculture Development (PPPIAD) and ADM, the Maharashtra State Government has introduced advanced technologies to enhance soybean cultivation. Madhya Pradesh, with the largest soybean cultivation area, and Maharashtra, with substantial acreage, have played pivotal roles in boosting production. These efforts, coupled with soy protein's versatility in food, beverages, and plant-based alternatives, have solidified its dominance in the market.

India Plant Protein Market – By Form

Based on form, India Plant Protein Market is divided into Isolate, Concentrate, Textured, and Hydrolyzed segments.

India Plant Protein Market – By Application

By application, India Plant Protein Market is divided into Food & Beverages, Nutritional Supplements, Animal Feed, and Cosmetics & Personal Care segments. The food & beverages segment holds the largest share of India Plant Protein Market by application. It is primarily driven by the country's significantly large vegetarian population and increasing demand for meat and dairy alternatives. With 24% of the population being strictly vegetarian and 9% identifying as vegan in 2022, the segment benefits from a growing preference for plant-based diets. Additionally, the rising inclination toward healthy, on-the-go meal options and immunity-boosting foods has further propelled demand, solidifying its dominance. Meanwhile, the cosmetics and personal care segment is expected to record the fastest growth during the forecast period. It can be attributed to the increasing adoption of plant-based protein ingredients in personal care products, focusing on sustainability and protein quality. Rising consumer awareness of eco-friendly and high-quality products has been a key driver for this segment's rapid expansion.

India Plant Protein Market – By Source

By source, India Plant Protein Market is divided into Legumes, Grains, Seeds, and other segments.

India Plant Protein Market – By Distribution Channel

By distribution channel, India Plant Protein Market is bifurcated into Online and Offline segments.

India Plant Protein Market – By Region

The in-depth research report on India Plant Protein Market covers the market in the country’s major regions: North India, South India, East India, and West India regions. North India holds the highest share in India Plant Protein Market and is expected to maintain its dominance during the forecast period, due to its strong agricultural base, particularly in producing soy, wheat, and peas, which are key sources of plant protein. The region benefits from favorable climatic conditions, advanced irrigation facilities, and government-supported farming initiatives, driving high production levels. Additionally, the growing awareness of plant-based diets, coupled with the rising demand for protein-enriched foods, boosts market growth. Urban centers in North India exhibit increasing adoption of plant protein products, supported by health-conscious consumers and innovative product availability. The segment’s dominance is expected to persist over the forecast period, due to a sustained demand and agricultural advancements.

Competitive Landscape

Major players operating in India Plant Protein Market include Conch Lifescience, Himalaya, Prime Herbonix Health Products, Chemvera Specialty Chemicals, Nutricore Biosciences, Kailash Dhanya Bhandar, Vencora Healthcare, Vv Farm, and Srimantha Medicos. 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 - Nestlé India introduced plant-based protein products tailored for the Indian market.

• In September 2021 - Proeon, a Pune-based plant-based protein startup, raised USD 2.4 million in seed funding led by Shaival Desai of Petpooja, with participation from angel investors and VC firms. Founded in 2018, Proeon develops high-quality protein ingredients from sources like chickpea and hemp seed, solving key formulation challenges for plant-based meat, dairy, and egg alternatives.

Scope of the Report

By Product Type

• Soy Protein

• Pea Protein

• Wheat Protein

• Others

By Form

• Isolate

• Concentrate

• Textured

• Hydrolyzed

By Application

• Food & Beverages

• Nutritional Supplements

• Animal Feed

• Cosmetics & Personal Care

By Source

• Legumes

• Grains

• Seeds

• Others

By Distribution Channel

• Online

• Offline

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 Plant Protein Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Health Consciousness
         2. Growing Vegan and Vegetarian Movements
         3. Environmental Sustainability
      2. Restraints
         1. Limited Palatability and Texture
         2. Increasing Allergenicity
      3.  Opportunities
         1. Increasing Availability and Accessibility
         2. Government Support and Regulations
      4. Challenges
         1. Nutritional Deficiencies
         2. Higher Cost
   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 Plant Protein Market: Marketing Strategies
5. India Plant Protein Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product Type
         1. Soy Protein
         2. Pea Protein
         3. Wheat Protein
         4. Others
      2. By Form
         1. Isolate
         2. Concentrate
         3. Textured
         4. Hydrolyzed
      3. By Application
         1. Food & Beverages
         2. Nutritional Supplements
         3. Animal Feed
         4. Cosmetics & Personal Care
      4. By Source
         1. Legumes
         2. Grains
         3. Seeds
         4. Others
      5. By Distribution Channel
         1. Online
         2. Offline
      6. By Region
         1. North India
         2. South India
         3. East India
         4. West India
6. North India Plant Protein Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product Type
      2. By Form
      3. By Application
      4. By Source
      5. By Distribution Channel
7. South India Plant Protein Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product Type
      2. By Form
      3. By Application
      4. By Source
      5. By Distribution Channel
8. East India Plant Protein Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product Type
      2. By Form
      3. By Application
      4. By Source
      5. By Distribution Channel
9. West India Plant Protein Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product Type
      2. By Form
      3. By Application
      4. By Source
      5. By Distribution Channel
10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Plant Protein Market 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 Plant Protein Market
12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Conch Lifescience
    2. Himalaya
    3. Prime Herbonix Health Products
    4. Chemvera Specialty Chemicals
    5. Nutricore Biosciences
    6. Kailash Dhanya Bhandar
    7. Vencora Healthcare
    8. Vv Farm
    9. Srimantha Medicos
    10. 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 Country
    5.    Assumptions & Limitations

*Financial information 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 Plant Protein Segmentation       

Figure 2       India Plant Protein Market Value Chain Analysis     

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Plant Protein Market Size, By Value (USD Million), 2019–2030    

Figure 5       India Plant Protein Market Share, By Product Type , By Value, 2019–2030    

Figure 6       India Plant Protein Market Share, By Form, By Value, 2019–2030        

Figure 7       India Plant Protein Market Share, By Application, By Value, 2019–2030

Figure 8       India Plant Protein Market Share, By Source, By Value, 2019–2030     

Figure 9       India Plant Protein Market Share, By Distribution Channel, By Value, 2019–2030         

Figure 10     India Plant Protein Market Share, By Region, By Value, 2019–2030     

Figure 11     North India Plant Protein Market Size, By Value (USD Million), 2019–2030    

Figure 12     North India Plant Protein Market Share, By Product Type , By Value, 2019–2030         

Figure 13     North India Plant Protein Market Share, By Form, By Value, 2019–2030        

Figure 14     North India Plant Protein Market Share, By Application, By Value, 2019–2030

Figure 15     North India Plant Protein Market Share, By Source, By Value, 2019–2030     

Figure 16     North India Plant Protein Market Share, By Distribution Channel, By Value, 2019–2030 

Figure 17     South India Plant Protein Market Size, By Value (USD Million), 2019–2030    

Figure 18     South India Plant Protein Market Share, By Product Type , By Value, 2019–2030         

Figure 19     South India Plant Protein Market Share, By Form, By Value, 2019–2030        

Figure 20     South India Plant Protein Market Share, By Application, By Value, 2019–2030

Figure 21     South India Plant Protein Market Share, By Source, By Value, 2019–2030     

Figure 22     South India Plant Protein Market Share, By Distribution Channel, By Value, 2019–2030 

Figure 23     East India Plant Protein Market Size, By Value (USD Million), 2019–2030      

Figure 24     East India Plant Protein Market Share, By Product Type , By Value, 2019–2030         

Figure 25     East India Plant Protein Market Share, By Form, By Value, 2019–2030

Figure 26     East India Plant Protein Market Share, By Application, By Value, 2019–2030 

Figure 27     East India Plant Protein Market Share, By Source, By Value, 2019–2030       

Figure 28     East India Plant Protein Market Share, By Distribution Channel, By Value, 2019–2030 

Figure 29     West India Plant Protein Market Size, By Value (USD Million), 2019–2030     

Figure 30     West India Plant Protein Market Share, By Product Type , By Value, 2019–2030         

Figure 31     West India Plant Protein Market Share, By Form, By Value, 2019–2030

Figure 32     West India Plant Protein Market Share, By Application, By Value, 2019–2030

Figure 33     West India Plant Protein Market Share, By Source, By Value, 2019–2030      

Figure 34     West India Plant Protein Market Share, By Distribution Channel, By Value, 2019–2030 

List of Tables

Table 1        India Plant Protein Market Size, By Value (USD Million), 2019–2030

Table 2        India Plant Protein Market Size, By Product Type , By Value, 2019–2030

Table 3        India Plant Protein Market Size, By Form, By Value, 2019–2030

Table 4        India Plant Protein Market Size, By Application, By Value, 2019–2030

Table 5        India Plant Protein Market Size, By Source, By Value, 2019–2030

Table 6        India Plant Protein Market Size, By Distribution Channel, By Value, 2019–2030

Table 7        India Plant Protein Market Size, By Region, By Value, 2019–2030

Table 8        North India Plant Protein Market Size, By Value (USD Million), 2019–2030

Table 9        North India Plant Protein Market Size, By Product Type , By Value, 2019–2030

Table 10      North India Plant Protein Market Size, By Form, By Value, 2019–2030

Table 11      North India Plant Protein Market Size, By Application, By Value, 2019–2030

Table 12      North India Plant Protein Market Size, By Source, By Value, 2019–2030

Table 13      North India Plant Protein Market Size, By Distribution Channel, By Value, 2019–2030

Table 14      South India Plant Protein Market Size, By Value (USD Million), 2019–2030

Table 15      South India Plant Protein Market Size, By Product Type , By Value, 2019–2030

Table 16      South India Plant Protein Market Size, By Form, By Value, 2019–2030

Table 17      South India Plant Protein Market Size, By Application, By Value, 2019–2030

Table 18      South India Plant Protein Market Size, By Source, By Value, 2019–2030

Table 19      South India Plant Protein Market Size, By Distribution Channel, By Value, 2019–2030

Table 20      East India Plant Protein Market Size, By Value (USD Million), 2019–2030

Table 21      East India Plant Protein Market Size, By Product Type , By Value, 2019–2030

Table 22      East India Plant Protein Market Size, By Form, By Value, 2019–2030

Table 23      East India Plant Protein Market Size, By Application, By Value, 2019–2030

Table 24      East India Plant Protein Market Size, By Source, By Value, 2019–2030

Table 25      East India Plant Protein Market Size, By Distribution Channel, By Value, 2019–2030

Table 26      West India Plant Protein Market Size, By Value (USD Million), 2019–2030

Table 27      West India Plant Protein Market Size, By Product Type , By Value, 2019–2030

Table 28      West India Plant Protein Market Size, By Form, By Value, 2019–2030

Table 29      West India Plant Protein Market Size, By Application, By Value, 2019–2030

Table 30      West India Plant Protein Market Size, By Source, By Value, 2019–2030

Table 31      West India Plant Protein Market Size, By Distribution Channel, By Value, 2019–2030

Table 32      Conch Lifescience Company Overview

Table 33      Conch Lifescience Financial Overview

Table 34      Himalaya Company Overview

Table 35      Himalaya Financial Overview

Table 36      Prime Herbonix Health Products Company Overview

Table 37      Prime Herbonix Health Products Financial Overview

Table 38      Chemvera Specialty Chemicals Company Overview

Table 39      Chemvera Specialty Chemicals Financial Overview

Table 40      Nutricore Biosciences Company Overview

Table 41      Nutricore Biosciences Financial Overview

Table 42      Kailash Dhanya Bhandar Company Overview

Table 43      Kailash Dhanya Bhandar Financial Overview

Table 44      Vencora Healthcare Company Overview

Table 45      Vencora Healthcare Financial Overview

Table 46      Vv Farm Company Overview

Table 47      Vv Farm Financial Overview

Table 48      Srimantha Medicos Company Overview

Table 49      Srimantha Medicos Financial Overview