India Meat Substitutes Market Size and Trend Analysis by Categories and Segment, Distribution Channel, Packaging Formats, Market Share, Demographics and Forecast, 2021-2026
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India Meat Substitutes Market Overview
The India meat substitutes market size was valued at INR17.7 billion ($239.5 million) in 2021 and is expected to achieve a CAGR of more than 10% during 2021-2026. Convenience stores accounted for the leading share in the distribution of meat substitute products in the country.
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The India meat substitutes market research report provides insights on high-growth markets to target, trends in the usage of packaging materials, types and closures category level distribution data, and companies’ market shares.
Market Size 2021 | INR17.7 billion ($239.5 million) |
CAGR (2021-2026) | >10% |
Key Categories | Soy-Based Meat Substitutes, Vegetable/Plant-Based Proteins, Single Cell Protein (Fungi/Algae), and Grain-Based Meat Substitutes |
Key Distribution Channels | Convenience Stores, Hypermarkets & Supermarkets, and Food & Drinks Specialists |
Leading Players | Ruchi Soya Group, Vega Industries, Adani Wilmar, Ahimsa Food, and Vezlay Foods |
India Meat Substitutes Market Segmentation by Category
The key categories in the India meat substitutes market are soy-based meat substitutes, single cell protein (fungi/algae), vegetable/plant-based proteins, and grain-based meat substitutes. The India meat substitutes market was led by soy-based meat substitutes in value terms in 2021. Additionally, the Single cell protein(Fungi/algae) category is forecast to register the fastest value growth during 2021–2026.
Soy-Based Meat Substitutes: The report further categorizes soy-based meat substitutes into tofu and others.
Single Cell Protein (Fungi/Algae): The report offers a value analysis of single cell protein (fungi/algae) such as Fungi (Mycoprotein).
Vegetable/Plant-Based Proteins: The report further categorizes vegetable/plant-based proteins into pea-based and others.
Grain-Based Meat Substitutes: The report further categorizes grain-based meat substitutes into Seitan and others.
India Meat Substitutes Market Analysis, by Categories
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India Meat Substitutes Market Segmentation by Distribution Channel
The key distribution channels in the India meat substitutes market are convenience stores, hypermarkets & supermarkets, and food & drinks specialists, among others. Convenience stores was the largest distribution channel in the India meat substitutes sector in 2021, followed by Hypermarkets & Supermarkets and food & drinks specialists.
India Meat Substitutes Market Analysis, by Distribution Channels
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Competitive Landscape
The leading players in the India meat substitutes market are Ruchi Soya Group, Vega Industries, Adani Wilmar, Ahimsa Food, and Vezlay Foods, among others. Ruchi Soya Group had the highest market share in the India meat substitutes market in 2021.
India Meat Substitutes Market Analysis, by Leading Players
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Key Highlights
- Per capita consumption of soy-based meat substitutes was higher than other categories, in India, in 2021
- Convenience stores are the leading distribution channel in the Indian meat substitutes sector
- Hypermarkets & supermarkets are the leading distribution channel in the vegetable/plant base proteins segment
- In 2021, strong domestic demand drove GDP growth
- With India being one of the countries that bore the brunt of the COVID-19 outbreak, the economy lost a lot of ground in 2021
Reasons to Buy
- Identify high-potential categories and explore further market opportunities based on detailed value analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed company share analysis to plan effective market positioning
- Our team of analysts has placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
- The packaging analysis report helps manufacturers, in identifying the most used packaging materials in the sector
- Analysis of key macroeconomic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, population (by age group, gender, rural-urban split, employed people, and unemployment rate. It also includes an economic summary of the country along with the labor market and demographic trends.
Vega Industries
Adani Wilmar
Ahimsa Food
Vezlay Foods
Blue Tribe Foods
Table of Contents
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Figures
Frequently asked questions
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What was the India meat substitutes market size in 2021?
The meat substitutes market size in India was valued at INR17.7 billion ($239.5 million) in 2021.
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What is the India meat substitutes market growth rate?
The meat substitutes market in India is expected to achieve a CAGR of more than 10% during 2021-2026.
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What are the key categories of the India meat substitutes market?
The key categories in the Indian meat substitutes market are soy-based meat substitutes, vegetable/plant-based proteins, single cell protein (fungi/algae), and grain-based meat substitutes.
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What are the key distribution channels of the India meat substitutes market?
The key distribution channels in the Indian meat substitutes market are convenience stores, hypermarkets & supermarkets, and food & drinks specialists, among others.
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Who are the leading players in the India meat substitutes market?
The leading players in the India meat substitutes market are Ruchi Soya Group, Vega Industries, Adani Wilmar, Ahimsa Food, and Vezlay Foods, among others.
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