India Plant Protein Market

INDIA PLANT PROTEIN MARKET
(2016 - 2026)
Domain: Proteins
Base Year: 2020
Forcast Period: 2021 - 2026
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EXECUTIVE SUMMARY & KEY FINDINGS 3.2.1 Animal Feed 4.3.3 VIPPY INDUSTRIES LIMITED
3.2.2 Personal Care and Cosmetics 4.3.4 Archer Daniels Midland Company
1 INTRODUCTION
3.2.3 Food and Beverages 4.3.5 Kerry Group PLC
1.1 Study Assumptions & Market Definition 3.2.3.1 Bakery 4.3.6 Ingredion Incorporated
1.2 Scope of the Study 3.2.3.2 Beverages 4.3.7 Roquette Frère
1.3 Research Methodology 3.2.3.3 Breakfast Cereals 4.3.8 Cargill, Incorporated
2 KEY INDUSTRY TRENDS 3.2.3.4 Condiments/Sauces

APPENDIX
3.2.3.5 Confectionery
2.1 End User Market Appendix-1 References
3.2.3.6 Dairy and Dairy Alternative Products
2.2 Per Capita Plant Protein Consumption Appendix-2 List of Tables & Figures
3.2.3.7 Meat/Poultry/Seafood and Meat Alternative
2.3 Raw Material/Commodity Production
Products KEY STRATEGIC QUESTIONS FOR PROTEINS
2.4 Regulatory Framework
3.2.3.8 RTE/RTC Food Products CEOS
2.5 Value Chain & Distribution Channel Analysis
3.2.3.9 Snacks
3 MARKET SEGMENTATION 3.2.4 Supplements
3.1 By Protein Type 3.2.4.1 Baby Food and Infant Formula
3.1.1 Hemp Protein 3.2.4.2 Elderly Nutrition and Medical Nutrition
3.1.2 Pea Protein 3.2.4.3 Sport/Performance Nutrition
3.1.3 Potato Protein 4 COMPETITIVE LANDSCAPE

3.1.4 Rice Protein
4.1 Key Strategic Moves
3.1.5 Soy Protein
4.2 Market Share Analysis
3.1.6 Wheat Protein
4.3 Company Profiles
3.1.7 Other Plant Protein
4.3.1 Südzucker AG
3.2 By End User
4.3.2 DuPont de Nemours Inc.
2 INDIA PLANT PROTEIN MARKET

EXECUTIVE SUMMARY & KEY FINDINGS
LARGEST PROTEIN TYPE LARGEST END USER

803.9 M 999.4 M
61% 67%
Market Size in 2020 (USD) Market Size in 2026 (USD)
Value Share, Soy Protein, Value Share, Food And

2020 Beverages, 2020
7.42 % 3.94 % Soy protein overpowers all the plant protein types The demand for plant protein in F&B is the greatest,
due to its high protein content, low viscosity, owing to the multifunctionality of plant proteins and
CAGR (2016-2020) CAGR (2021-2026) solubility, etc., which caters to its extensive use in all the surging number of Chinese consumers shifting
sectors. toward vegan meals.
FASTEST GROWING PROTEIN TYPE FASTEST GROWING END USER FIRST LEADING MARKET PLAYER
4.98% 7.21% 7.08%

Projected CAGR, Hemp Projected CAGR, Personal Market Share, Südzucker
Protein, 2021-2026 Care And Cosmetics, AG, 2020
2021-2026
Hemp protein is projected to be the fastest-growing Südzucker AG, with its subsidiary BENEO, has
The demand for protein-enriched skin, body, and
plant protein type in India, contributed by its adopted expansion as a growth strategy by building
hair care products is on the rise. Players are offering
surging application in the F&B industry, mainly a new office in India to strengthen its market position
protein ingredients with distinct concentrations as
bakery and snacks. in the country further.
per the need.

1 Introduction
1.1 Study Assumptions & Market
Definition
1.2 Scope Of The Study
1.3 Research Methodology

1. INTRODUCTION 2. KEY INDUSTRY TRENDS 3. MARKET SEGMENTATION 4. COMPETITIVE LANDSCAPE

1.2 SCOPE OF THE STUDY
BY PROTEIN TYPE BY END USER
-------- HEMP PROTEIN -------- ANIMAL FEED
-------- PEA PROTEIN -------- PERSONAL CARE AND COSMETICS
-------- POTATO PROTEIN -------- FOOD AND BEVERAGES
-------- RICE PROTEIN -------- SUPPLEMENTS
-------- SOY PROTEIN
-------- WHEAT PROTEIN
-------- OTHER PLANT PROTEIN


2 Key Industry Trends
2.1 End User Market
2.2 Per Capita Plant Protein

Consumption
2.3 Raw Material/Commodity

Production
2.4 Regulatory Framework
2.5 Value Chain & Distribution Channel

Analysis

2.1 END USER MARKET

ANIMAL FEED MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026 BABY FOOD AND INFANT FORMULA MARKET, VOLUME IN METRIC
TONNES, INDIA, 2016 - 2026
100M 10 % 30M 10 %
M3 .64
M3 .34
80M 6% 24M 6%
M2 .24
M6 .24
M4 .73
M1 .53
M1 .63
M84
M6 .01
M44
M54
M93
M8 .9
60M 18M
M4 .8
M8 .7
M1 .7
M3 .7
M8 .6
M9 .6
M5 .6
0% 0%
M3 .6
M9
40M 12M
20M -6 % 6M -6 %
0 -10 % 0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
Volume YOY(%) Volume YOY(%)
COMPOUND FEED SUPPORTING THE ANIMAL FEED DEMAND GROWING CONCERNS ABOUT INFANT NUTRITION ARE DRIVING THE
MARKET
India has emerged as one of the largest and fastest-growing compound feed markets globally. The The baby food market in India experienced growth over the review period. It is anticipated to
feed industry is recording a CAGR of 8%, with the poultry, cattle, and aqua feed sectors emerging as register the highest CAGR of 5.32% during the forecast period compared to other Asia-Pacific
major growth drivers. The demand for animal protein and dairy products in India boosted the countries. India was estimated to witness the highest number of births during 2020-2021 (more than
compound feed consumption volume to 28 million metric ton during 2017-2018. [1] 20.1 million births), the highest in the region.
However, in 2019, the compound feed requirements from the feed industry were only 11% for The Indian baby food market has developed a significant segment for infant milk formula as an
cattle, 14% for aqua feed, and 55% for poultry feeds. The poultry industry grew at an annual rate of alternative to breastfeeding, leading to the propagation of formula feeding, which was further
8% during the review period. The seafood sector is also witnessing a growth of 6% annually in supported by health systems. The term 'organic' is gaining popularity among customers in India.
aquaculture production. Simultaneously, the Indian dairy sector grew by 4% annually. Growth in Players are incorporating this segment in their offerings to maintain their position in the segment.
these sectors has pushed the demand for compound feed by 50% from the last decade. [2] India's organic baby food market is projected to record a CAGR of 7-10% during the forecast
period. [3]

2.1 END USER MARKET

BAKERY MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026 BEVERAGES MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
60M 30 % 90M 10 %
M6 .04
M6 .83
48M 18 % 72M 6%
M8 .42
M8 .63
M2 .32
M2 .53
M9 .33
M7 .12
M1 .33
M7 .23
M4 .23
M6 .02
M9 .03
M7 .91
M2 .91
M2 .92
M8 .72
M7 .71
36M 54M
M2 .31
M4 .21
M8 .11
M41 0% 0%
24M 36M
12M -18 % 18M -6 %
0 -30 % 0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
CHANGING LIFESTYLE IS LIKELY TO IMPACT THE MARKET NON-ALCOHOLIC DRINKS ARE TRENDING
With an estimated annual turnover of almost USD 8 billion in 2020, India's bread business is the The non-alcoholic beverage market in India is one of the fastest worldwide, owing to a number
largest in the food processing segments. A strong biscuits and cookies business is mainly responsible of macroeconomic factors. With the current low per capita consumption (60 bottles per capita in
for the bakery market's expansion. The biscuits and cookies industry accounts for about 70% of the 2020), there is room for volume growth in the future. The Indian soft drinks market is projected to
Indian baking market revenue. Cookies and biscuits are becoming more popular in the urban and maintain its "strong growth trajectory," with annual per capita bottle consumption expected to reach
rural markets due to their low cost and ready-to-eat nature. over 100 by 2023.
Major firms in this industry, including Parle, Britannia, and ITC Foods, dominate the market, The packaged juices segment recorded a CAGR of over 15% during the review period. Packaged
with Britannia topping the list. Britannia and Parle account for more than a third of the entire volume water also became one of the fastest-growing beverage sub-segments in India. The top five
of branded biscuits sold in India by value. Consumers expect innovations in bakery products, and the businesses in the industry, namely, Bisleri, PepsiCo, Coca-Cola, Parle, and Dhariwal, controlled
industry has been fortifying bakery products to satisfy the growing demand from health-conscious nearly 65% of the market in 2019. Low penetration in rural regions and rising concerns about the
consumers. This factor is anticipated to drive the demand for fortified bakery products at a CAGR of high sugar content in carbonated drinks are projected to limit market growth during the forecast
9% during the forecast period. period.

2.1 END USER MARKET

BREAKFAST CEREALS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - CONDIMENTS/SAUCES MARKET, VOLUME IN METRIC TONNES, INDIA,
2026 2016 - 2026
3M 25 % 50M 15 %
2.4M 15 % 40M 9%
M1 .02
M9 .81
k4 .189
M9 .71
k8 .929
k3 .398
M2 .61
M4 .51
k2 .148
M7 .41
M1 .31
k2 .386
M3 .21
k4 .046
M6 .11
1.8M 30M
k9 .775
M9 .01
M71
k468
k328
M1
0% 0%
k706
1.2M 20M
600k -15 % 10M -9 %
0 -25 % 0 -15 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
THE DRASTIC IMPACT OF THE PANDEMIC NOTICED IN THE SEGMENT HOME COOKING IS PROPELLING THE MARKET
Indians consumed substantially more ready-to-eat breakfast products and cereals during the A growing number of Indian households are preparing meals at home using time-saving
COVID-19 pandemic, which altered the food habits amid safety concerns. The market registered the methods. The sauces/condiments market is expected to record a CAGR of 7.1% during the forecast
highest Y-o-Y growth rate of 20.45% in 2020. The lockdown increased the at-home consumption. period. Western cultural influences and growing culinary trends have been the major factors
Cereals are the easiest and involve zero cooking, making them the perfect breakfast option for many. boosting India's condiments/sauces market. Spices are an essential component of the Indian cooking
As a result, their demand increased, prompting brands to cash in on the trend. process. As customers move away from unpackaged spices, there is increasing interest in delivering
them in a packaged format, with new companies trying to improve their market positions. [4]
The breakfast products and cereals market size recorded a CAGR of 8.5% during the review
period, owing to constant innovations and the expansion of start-ups. In 2018, Marico entered the The market continued to grow in 2020, mainly due to the closure of foodservice channels.
market by introducing savory masala oats rather than the sweet-flavored cereals that dominated the Indians did more in-house cooking, which further supplemented the market Y-o-Y growth of
market. Start-ups have attempted to change the market trend by introducing items that include 12.59%. More than 40% of Indians engaged in at-home cooking more after the COVID-19 outbreak,
traditional Indian staples. Tata Soulfull, a start-up acquired by Tata Consumer Products, in 2021. creating opportunities for key players to introduce new offerings in the market.

2.1 END USER MARKET

CONFECTIONERY MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - DAIRY AND DAIRY ALTERNATIVE PRODUCTS MARKET, VOLUME IN METRIC
2026 TONNES, INDIA, 2016 - 2026
20M 30 % 200M 20 %
16M 18 % 160M 12 %
M6 .97
M4 .67
M3 .27
M1 .47
M1 .07
M1 .17
M7 .06
M48
M9 .65
M6 .85
M6 .55
12M 120M
M2 .5
M9 .4
M6 .4
M4 .4
0% 0%
M1 .4
M9 .3
M8 .2
M5 .2
M6 .2
8M 80M
M4
M3
4M -18 % 40M -12 %

0 -30 % 0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
GROWING PER CAPITA CONSUMPTION AND RETAIL INFRASTRUCTURE SIGNIFICANT GROWTH IN ORGANIZED SECTOR
DRIVING THE MARKET GROWTH
India still has untapped potential compared to developed western countries. When chocolate India is the world's largest producer and consumer of milk. The dairy industry in India is
consumption in the West peaked, the consumption of chocolate in India was still in the nascent classified into two categories: organized and primarily unorganized (75% approx.). However, the
stage. In India, consumption levels are still modest because chocolate and other confectionery foods share of organized milk is expected to increase from 23% in 2019 to 50% in 2025. India has the
are still considered a luxury. While Switzerland and the UK consume roughly 8-11 kg of chocolate largest bovine population of over 300 million, producing 198.4 million metric ton of milk in 2019-
per capita each year, Indians consume only 50-100 grams. 2020. Despite COVID-19-induced restrictions, the organized sector is projected to record a 5-7%
CAGR during the forecast period.
Sugar confectionery's key growth drivers are projected to be the rise of supermarkets and
hypermarkets (from a mere 500 supermarkets in 2006 to 8.5 thousand in 2016), as well as the trend During the first and second waves of the pandemic, the dairy industry struggled to sell cold
of increased allowances for children. The high number of foreign products and brand variants value-added products (VAP), such as ice cream, flavored milk, buttermilk, and lassi. There were no
available in chocolate confectionery is expected to be a major factor in the more economically major issues with enough milk supplies on the procurement and distribution side, which resulted in a
advanced regions of North and West India with double digit growth rate. Y-o-Y growth of 15.45% in 2020.

2.1 END USER MARKET

ELDERLY NUTRITION AND MEDICAL NUTRITION MARKET, VOLUME IN MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS MARKET,
METRIC TONNES, INDIA, 2016 - 2026 VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
4k 5% 20M 25 %
3.2k 3% 16M 15 %
k7 .1
k6 .1
k7 .1
k6 .1
k6 .1
k6 .1
M8 .6
k5 .1
k6 .1
k5 .1
k5 .1
M4 .6
k5 .1
M1 .6
2.4k 12M
M9 .5
M7 .5
M5 .5
M6 .5
M6 .4
M3 .4
0% 0%
M1 .4
M9 .3
1.6k 8M
800 -3 % 4M -15 %
0 -5 % 0 -25 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
INCREASE IN THE GERIATRIC POPULATION IS PROPELLING THE SEGMENT THE COVID-19 PANDEMIC HAS SEVERELY IMPACTED THE MARKET
The elderly nutrition market in India is lucrative and has an increased prospect for senior The meat processing business is an important aspect of India's agricultural landscape. In 2019,
nutrition and supplements. A consistent rise in the geriatric population is also expected to increase India's yearly meat production is estimated to be 6.3 million metric ton, placing it fifth in the world
the nutrition market. In 2021, nearly 138 million elderly persons were living in India. Evolving in terms of volume. India produces 3% of the world's total meat production. With the increasing
nutrition trends, rising consumer awareness, and their willingness to opt for nutrient-specific diets consumer preference for neat and tidy food, the market saw sluggish growth during the review
are a few factors boosting the market. About 20% of consumers in India showed interest in low-carb period. In 2020, the market saw a drastic rise, registering a Y-o-Y growth rate of 20.48%, owing to
diets, while 10% were up for high protein intakes. In response, they tend to turn toward supplements an increase in demand for poultry and meat alternative products. [6]
that cater to their preferences. [5]
The meat processing industry grew at a steady pace during the review period. It is well-known
Also, rising trends, like veganism and sustainability, are pushing key players and new entrants to for providing producers with decent returns. Beef and poultry are valuable nutritional foods in India,
offer more healthy products. In 2020, the market volume surged to 2.40% from 1.45% in 2019, with and they are also relatively inexpensive. As non-vegetarians account for over 70% of the Indian
increased consumption of immunity supplements amid the COVID-19 pandemic. population, the per capita meat intake in the country is roughly 5.2 kg per year.

2.1 END USER MARKET

PERSONAL CARE AND COSMETICS MARKET, VOLUME IN METRIC TONNES, RTE/RTC FOOD PRODUCTS MARKET, VOLUME IN METRIC TONNES, INDIA,
INDIA, 2016 - 2026 2016 - 2026
2M 10 % 80M 20 %
M7 .43
1.6M 6% 64M 12 %
M5 .23
M7 .03
M4 .92
M3 .82
M5 .72
M9 .62
M5 .22
k1 .794
M4 .12
k9 .854
M4 .02
M5 .91
k3 .624
1.2M 48M
k6 .893
k7 .473
k9 .343
k9 .353
k1 .023
k3 .892
k3 .872
0% 0%
k633
800k 32M
400k -6 % 16M -12 %
0 -10 % 0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
PREMIUMIZATION AND NATURAL INGREDIENTS ARE TAKING OVER THE STRONG HOLD OF RTE/RTC IN THE FOOD PROCESSING INDUSTRY
SEGMENT’S MARKET EDGE
Overall, the market is heading toward premiumization, with the premium segment growing at The Indian food and grocery market is the sixth-largest in the world, with retail accounting for
8%. In the mainstream market, Indian brands (both regional and national) have a significant 70% of total sales. The Indian food processing sector, which accounts for 32% of the country's
presence, while premium markets are generally controlled by overseas brands. overall food market and is rated fifth in terms of production, consumption, export, and predicted
growth, is one of the country's largest industries. In 2020, the RTC/RTE segment alone registered an
There is rising awareness among Indian consumers of the side effects of chemical formulation-
export value of USD 100 million, which is one-fourth of the country's consumption. [7]
based cosmetics, with recent trends showing an increasing demand for herbal cosmetic products.
The clean beauty market is growing rapidly, and it is expected to register a CAGR of 9.7% during With the country on lockdown and the majority of people working from home, ready-to-cook and
the forecast period. Also, retail sales of cosmetics and other personal care products in India are frozen-food items witnessed significant sales growth during 2020. For instance, Grofers, an online
growing at a rate of 15%-20% per year, making it one of the world's fastest-growing markets. grocery delivery service, witnessed a sales increase of 170% in the ready-to-eat category, 31% in the
Industry players are expected to invest more to innovate and educate consumers about trends, like ready-made meals and mixes area, and 41% in the frozen food category. However, consumers are
clean beauty, skincare, and digital advertising. increasingly realizing that majorly RTE foods are loaded with preservatives for longer shelf life.

2.1 END USER MARKET

SNACKS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026 SPORT/PERFORMANCE NUTRITION MARKET, VOLUME IN METRIC
TONNES, INDIA, 2016 - 2026
20M 25 % 20k 10 %
16M 15 % 16k 6%
k1 .9
k7 .8
k3 .8
k9 .7
k1 .8
k7 .7
k8 .7
k7 .7
k4 .7
12M 12k
k1 .7
M9 .4
M7 .4
k8
M4 .4
0% 0%
M2 .4
M9 .3
M8 .3
M1 .3
M8 .2
M9 .2
8M 8k
M4
M3
4M -15 % 4k -6 %
0 -25 % 0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) (e) (f) (f) (f) (f) (f) (f)
THE HEALTHIER SNACKING OPTION IS DRIVING THE MARKET RISING AWARENESS IS INCREASING CONSUMER BASE IN THE MARKET
Customers are becoming more interested in natural ingredients, whole grains, additive-free, and The sports/performance nutrition sector in India is in the nascent stage, and the market volume
sugar-free snacks in India. In addition, the product's appealing packaging and social media has registered a CAGR of 3.95% during the review period. The increase in the number of health and
advertising contribute to a strong brand image, paving the road for the industry's expansion. The fitness clubs is majorly supporting the sales of sports nutrition products in the country. There are
emergence of e-commerce has further driven the market, especially amid the pandemic, resulting in around 24,000 gyms and studios in the country, out of which 95% are organized outlets. [8]
the industry growing at 22.40% (by volume) in 2020.
India is emerging as one of the fastest-growing sport and performance nutrition markets across
Indian consumers have increasingly adopted a snacking lifestyle and have become more health- the region, owing to the increasing trend of athleticism, rising concern for health, and shift in dietary
conscious, thus, preferring nutritious alternatives. For instance, more than 25% of Indian consumers patterns due to changing lifestyles. Also, the innovation of new flavors with health benefits is
prefer snacks with additional health benefits beyond nutrition. Thus, established industry operators predicted to support the market growth of 8.5% during the forecast period. The underdeveloped
have developed various low-fat and low-calorie options, and new companies have entered the regions in the country demonstrate high growth potential, as rapid infrastructure development
industry to capitalize on shifting tastes. improves the accessibility and connectivity of these locations.

2.2 PER CAPITA PLANT PROTEIN CONSUMPTION

INDIA PLANT PROTEIN PER CAPITA CONSUMPTION, IN GRAM, 2001 - 2026
200 5%
160 3%
120
0%
80 46.3 45.7 45 44.4 44.3 44.7 46 46.3 47 47.4 47.6 48 48.3 48.3 48 48 48.3 48 47.7 47.6 48 47.6 47.4 47.6 47.7 48
40 -3 %
0 -5 %
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f)
Volume YOY(%)
India has emerged as one of the major markets in plant protein consumption, aided by the increased production of major plant proteins like soybeans, rice, pea, and wheat. Although many plant products are
consumed as staple foods in the region, the increased applications of these protein ingredients in innovating foods are boosting their consumption. The growing veganism trend is also influencing consumers in
the country. An increase in the number and engagement capability of vegan influencers among the internet-savvy young generation has proven to be pivotal in the rise of the veganism trend in India. [9]
Dairy was majorly dominating the country's consumption. However, with the increasing awareness of plant proteins, Indian consumers, especially younger generations, are turning toward plant protein-
fortified foods. A survey in 2019 found that 63% of the surveyed Indians were willing to replace meat with plant-based options, and the country has over a billion people. In order to cater to the growing
demand, innovative products are occupying market space, thus increasing choices for consumers. For example, Evolved Foods introduced vegan alternatives under its Alt Meat and Alt Protein brands, seeking to
replace chicken and paneer. A Dutch company, Schouten, entered the Indian market with its tempeh production system. [10]
The protein segment has not seen much adoption from Indian consumers. According to an estimate, over 70% of the country's population is protein deficient, primarily due to the lack of awareness among
Indians and inadequate consumption of proteins regularly. [11]

2.3 RAW MATERIAL/COMMODITY PRODUCTION

INDIA PLANT PROTEIN RAW MATERIAL/COMMODITY PRODUCTION, VOLUME IN METRIC TONNES, 2011 - 2019
400M
291.9M 300.9M
320M 261.1M 271.8M 269.4M 268.2M 274.7M 286.5M
257.2M
240M
160M
80M
0
2011 2012 2013 2014 2015 2016 2017 2018 2019
India produces different commodities for the plant protein industry, including rice, wheat, pea, and soy. The higher production of the commodities is supported by India's soil moisture, low temperatures, and
well-distributed rainfall during the growth stage. For the last four years, wheat and rice productions have been above the projected trends due to the development and expansion of area planted to new, higher-
yielding varieties and generally favorable weather conditions. Although the planted rice acreage has plateaued due to increasing demand for land from urbanization and higher-value crops, the higher yield aided
by new and improved varieties, better agronomic practices, and expansion of irrigation facilities is strengthening the production of commodities.
India is also one of the top soybean producers in the world. By 2019, soybean production increased by 8.63% over the previous nine years. The public and private companies are developing various
techniques and directly engaging with farmers to enhance farm incomes and increase soybean yield. In 2014, soybean production continued to decline in Maharashtra. Thus, to augment the production, the State
Government of Maharashtra and the Public-Private Partnership for Integrated Agriculture Development (PPPIAD), in collaboration with ADM, introduced new technologies for soybean cultivation that aided
farmers in increasing their yields.
Similarly, several farm-centric policies and programs, such as PMKSY, PMFBY, PKVY, SHM and SHC, and e-NAM, help attain the desired objectives in pea production in India. Uttar Pradesh and Madhya
Pradesh are the country's top pea growers. Uttar Pradesh produced more than 45% of the country's peas in 2017.

2.4.1 REGULATORY FRAMEWORK

INDIA
AGENCIES AND ACTS SAFETY GUIDELINES
The Food Safety and Standards Authority of India (FSSAI) issues multiple amendments Under FSSAI Standard 2.3.59, vegetable-sourced protein items should be prepared from
for regulations related to plant proteins. clean, sound plant material free from vegetable protein products of lower protein content,
meeting specifications contained in this standard.
Laws regulating Indian imports of food (including all plant proteins) are under the
jurisdiction of multiple GOI authorities. FSSAI's 2017 Amendments in Food Import Regulations mandates Custom officials to only
clear imported food items with a shelf life of not less than 60%, or 3 months, whichever is
FSSAI Regulation: 12.10 regulates all protein products (including pea protein, except soy
less, while importing.
protein). FSSAI is responsible for soy protein isolates meant for nutraceutical use under the
Food Safety & Standards Regulations, 2016. GEAC under MoEFCC approves genetically engineered items like soy protein.
LABELING APPROVAL PROCESS

The label affixed to the container of infant milk substitute meant for infants with allergy to For new product approvals, in September 2017, India implemented Food Safety &
soy protein and others shall indicate conspicuously "HYPOALLERGENIC FORMULA" and Standards (Approval for Non-Specified Food & Food Ingredients) Regulations 2017. FSSAI
the statement "TO BE TAKEN UNDER MEDICAL ADVICE" in capital letters. termed these categories of food or food ingredients "non-specified food & food ingredients."
There shall also be a surrounding line enclosing the declaration where the words In November 2017, FSSAI published an order revising imported food items' inspection and
"unsuitable for babies" must be used, with a distance of not less than 1.5 mm between the two. sampling fees. It also published the 'Food Import Clearance Manual' and a region-wise list of
its 142 notified laboratories where sampling should be done.

2.5 VALUE CHAIN & DISTRIBUTION CHANNEL ANALYSIS
TOP RAW MATERIAL SUPPLIERS TOP PROTEIN TOP PROTEIN SUPPLIERS TOP END USER
COMPANIES COMPANIES
• Krusha Premium Industries Pvt. Ltd • Nutra Ingredients Ltd
• Maxcor Agro and Allieds • Südzucker AG • Titan Biotech Limited • Amway
• Uni-Tech International • DuPont de Nemours Inc. • Rajvi Enterprise • Unilever PLC
• Seraphic Essential Oil & Oleoresins • Vippy Industries Limited • AMS Enterprises • Herbalife International of America
• Upadhye Agro • Archer Daniels Midland Company • ATC Worldwide Enterprise Inc.
• Kerry Group PLC • The Hut.com Limited
• Bright LifeCare Private Limited

3 Market Segmentation
3.1 By Protein Type
3.2 By End User

3.1 BY PROTEIN TYPE
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY PROTEIN TYPE, 2016 -
PROTEIN TYPE, 2016 - 2026 2026
600k 3B
Soy Protein Soy Protein
480k 2.4B
Wheat Protein Wheat Protein
k5 .842
k6 .532
k3 .522
M4 .999
k2 .712
M6 .649
k8 .012
M5 .409
k7 .502
k8 .002
M2 .178
M6 .448
360k 1.8B
M7 .328
M9 .308
k7 .471
k6 .561
M8 .596
k3 .851
M1 .856
Pea Protein Pea Protein
k6 .251
M5 .726
M8 .306
240k Other Plant Protein 1.2B Other Plant Protein
120k Rice Protein 600M Rice Protein
Hemp Protein Hemp Protein
0 0
Potato Protein Potato Protein
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
6102
7102
8102
9102
6102
7102
8102
9102
Oat Protein Oat Protein
Owing to the rising number of vegetarians in the country, the Indian plant-based protein market INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY PROTEIN TYPE, 2020
has been growing. More than 400 million people in India claimed to be vegetarian in 2020. By
protein type, soy protein holds the highest share. It is also anticipated to register a CAGR of 3.48%,
by volume, in the forecast period, with the highest demand from the F&B sector. This demand in the
F&B sector is due to its functionalities, including increased water binding capacity, gelling, 14.7%
improving texture, etc. [12]
Pea Protein
9.5% Rice Protein
Also, initiatives such as the "Right to Protein" announced the launch of India's first feed label, Soy Protein
'Soy Fed,' for animal protein products in 2021. Since livestock fed with high-quality soy is healthier 61.6% 10.8%
Wheat Protein
and a richer protein source for human consumption, such initiatives are boosting its growth rate. Other Plant Protein
3.4%
Among all the plant protein types, oat proteins are anticipated to record the fastest growth rate
over the forecast period, with a CAGR of 7.27%, by volume. This is mainly due to oat protein's
functionalities in personal care products.

3.1.1 HEMP PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, HEMP INDIA PLANT PROTEIN MARKET, VALUE IN USD, HEMP PROTEIN, 2016 -
PROTEIN, 2016 - 2026 2026
2k 20 % 20M 20 %
1.6k 12 % 16M 12 %
12M
6 .046
1.2k
8 .206
M9 .4
4 .965
M6 .4
M4 .4
0%
3 .245
M2 .4
8 .915
M9 .3
4 .205
M7 .3
9 .974
0%
M1 .3
1 .604
M7 .2
M8 .2
4 .583
6 .763
8M
7 .453
M4
800
M3
4M -12 %
400 -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
With the widespread growth of veganism in India, hemp is being used as one of the apt protein substitutes. This is attributed to it being allergen-free and having the perfect ratio of Omega 3 and 6, which is
beneficial for health. The excess supply of hemp protein as a new plant-based protein has also given local businesses a chance to spend heavily on product development. Thus, it will considerably drive the
Indian hemp protein market, which is projected to record a CAGR of 4.98%, by value, during the forecast period. [13]
The Indian hemp protein market dominates the region, with its F&B sector being a key contributor and accounting for a 94.3% share, by volume, in 2020. It is anticipated to be the fastest-growing sector with
a CAGR of 10.29%, by volume, in the forecast period. By value, snacks and bakery products remained the key end-user sub-segments of the market and accounted for a combined application share of 85.9% in
2020. In snacks, organically sourced hemp protein is mainly used in the form of flakes that add a crunch to the product along with providing protein fortification. [14]

3.1.2 PEA PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, PEA INDIA PLANT PROTEIN MARKET, VALUE IN USD, PEA PROTEIN, 2016 - 2026
PROTEIN, 2016 - 2026
40k 20 % 300M 20 %
M1 .211
M2 .501
32k 12 % 240M 12 %
M6 .99
M2 .59
k6 .71
M6 .19
M8 .88
M5 .68
k5 .61
k7 .51
M4 .27
M6 .76
180M
k4 .41
M8 .06
M6 .36
k6 .31
24k
k4 .11
0%
k7 .01
k51
k1 .01
k41
0% 120M
k7 .9
16k
60M -12 %
8k -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The Indian pea protein market is majorly driven by applications in the food and beverages sector, INDIA PLANT PROTEIN MARKET, PEA PROTEIN, VALUE SHARE (%), BY
which is predicted to witness significant growth, amounting to a CAGR of 4.78% during the forecast
FORM, 2020
period. This is due to the properties of pea protein, which include an amino acid profile similar to
meat and a hypoallergenic quality that distinguishes it from mainstream sources.
The demand in the food & beverages segment is highly driven by the meat/meat alternative
products sub-segment, which held a share of 61.6%, by volume, in 2020. The growing vegan 57.4%
population in the country is driving the demand for meat alternatives. About 5 million population in 7.8% Concentrates
India is Vegan and around 500 million population are vegetarians in 2020. Isolates
The hydrolysed form is predicted to witness the fastest growth during the forecast period with a Textured/Hydrolyzed
CAGR of 6.26% during the forecast period, owing to its increasing demand in the meat alternative 34.7%
and RTE/RTC product segments.

3.1.3 POTATO PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, POTATO INDIA PLANT PROTEIN MARKET, VALUE IN USD, POTATO PROTEIN, 2016 -
PROTEIN, 2016 - 2026 2026
20 20 % 200k 20 %
160k 12 %
k5 .39
16 12 %
k8 .88
k2 .58
k3 .28
k1 .08
k2 .77
k5 .87
k6 .56
k6 .16
k5 .65
k6 .85
120k
6 .9
12
1 .9
7 .8
4 .8
0%
2 .8
9 .7
0%
8 .6
80k
4 .6
1 .6
9 .5
8
8
40k -12 %
4 -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The Indian population is changing their dietary patterns, with climatarian and vegan trends highly impacting the market for innovative health ingredients, such as potato proteins. Increasing application of
potato protein in functional food and beverages specially as texturing agent is supporting its demand in the market. Also, potato production, being 329.86 million tonnes (MT) in 2020-21, increase in by 2.93%,
is also highly impacting the ingredient availability among Indian consumers. [15]
Research activities are highly influencing acceptance in the country. Potato proteins have proven to be nutritionally superior to most other plant and cereal proteins and relatively close to egg protein
(lysozyme). As a result, potato proteins have high nutritional value, attributed to the amino acids that make up these proteins. Thus, the segment is expected to record a CAGR of 3.57%, by volume, in the
forecast period. However, the Indian potato protein market is still at a nascent stage due to the dominance of other plant proteins in the country. [16]

3.1.4 RICE PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, RICE INDIA PLANT PROTEIN MARKET, VALUE IN USD, RICE PROTEIN, 2016 - 2026
PROTEIN, 2016 - 2026
20k 20 % 80M 20 %
M6 .43
64M 12 %
M6 .23
16k 12 %
M7 .92
M7 .82
M1 .72
M9 .72
M6 .22
M2 .12
M13
M2 .91
12k 48M
k2 .7
0%
M02
k7 .6
k4 .6
k1 .6
k9 .5
0%
k8 .5
k6 .5
32M
k7 .4
k4 .4
k2 .4
8k
k4
16M -12 %
4k -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
In the regional market, the Indian rice protein segment is expected to record the fastest growth, INDIA PLANT PROTEIN MARKET, RICE PROTEIN, VALUE SHARE (%), BY
with a CAGR of 4.40%, by value, during the forecast period. Brown rice protein is currently gaining
FORM, 2020
popularity in the market, owing to multiple research activities showing that brown rice protein, in
particular, has specific peptides that help people lose weight more effectively than white rice protein
or soy protein. The extraction is done from sprouted brown rice in order to provide high-quality
organic and natural brown rice protein to manufacturers.
59%
Additionally, as a growth strategy, manufacturers are offering certifications such as Halal, 7.8% Concentrates
Kosher, ISO, HACCP, GMP, FSSC 22000, USDA, EU Organic, and COR Organic to enhance their Isolates
market value further. On the other hand, hydrolysates, despite having the smallest share, are Textured/Hydrolyzed
anticipated to witness the fastest CAGR of 5.63%, by value, in the forecast period. Their demand is
33.3%
primarily led by the personal care sector due to their functionalities, such as moisturizing,
smoothening, and adding volume to hair.

3.1.5 SOY PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, SOY INDIA PLANT PROTEIN MARKET, VALUE IN USD, SOY PROTEIN, 2016 - 2026
PROTEIN, 2016 - 2026
400k 15 % 2B 15 %
320k 9% 1.6B 9%
M6 .595
k9 .761
M7 .665
M2 .445
k7 .951
M6 .625
M9 .105
M8 .215
k4 .351
M8 .294
k4 .841
k6 .441
M9 .134
k9 .831
k5 .141
M2 .014
M4 .973
k1 .221 1.2B
k2 .611
k5 .111
k8 .701
240k
M393
0% 0%
160k 800M
400M -9 %
80k -9 %
0 -15 %
0 -15 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
Due to the large population of vegetarians in the country, plant-based protein components, such INDIA PLANT PROTEIN MARKET, SOY PROTEIN, VALUE SHARE (%), BY
as soy protein, have a dominant share in the Indian market. Increasing awareness of nutritious vegan
FORM, 2020
snacks is one of the key factors affecting the domestic soy protein ingredient market. Thus, the
segment is anticipated to record a CAGR of 3.48% over the forecast period.
Isolates led the major demand for soy proteins and are projected to register a value CAGR of 47%
3.36% during the forecast period. The high demand for soy protein isolates is due to their
multifunctional traits like high dispersibility and solubility. However, hydrolysates are projected to 8% Concentrates
record the fastest CAGR of 4.01% during the forecast period. [17] Isolates
The national government is greatly supporting local businesses to boost manufacturing. For Textured/Hydrolyzed
instance, Right To Protein, a national public health initiative, announced India's first animal protein 45%
feed label, Soy Fed, in 2021. In 2020, the market value increased significantly, achieving a Y-o-Y
growth rate of 14.09% during the year. [18]
3.1.6 WHEAT PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, WHEAT INDIA PLANT PROTEIN MARKET, VALUE IN USD, WHEAT PROTEIN, 2016 -
PROTEIN, 2016 - 2026 2026
100k 20 % 400M 20 %
M9 .541
320M 12 %
M1 .831
80k 12 %
M9 .621
M4 .711
M551
k6 .44
M231
k8 .93
M321
M9 .99
k5 .63
M6 .39
240M
k4 .53
M3 .88
k8 .33
M1 .48
60k
k24
k8 .82
0%
k1 .72
k83
k6 .52
k4 .42
0% 160M
40k
80M -12 %
20k -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The animal feed sector witnessed the highest demand for wheat protein in 2020. It is anticipated INDIA PLANT PROTEIN MARKET, WHEAT PROTEIN, VALUE SHARE (%), BY
to register a CAGR of 4.37%, by value, during the forecast period. This is majorly due to its
FORM, 2020
functionalities, as vital wheat gluten provides the binding required for the pellet or granule forms of
feed and acts as a functional alternative to fish- and animal-based feeds.
Wheat protein, in the form of isolates, is projected to record the fastest CAGR of 5.02% during 35.7%
the forecast period, followed by hydrolysates and concentrates. Wheat hydrolysates are an emerging
sector for the production of bacterial cellulose, thus driving their demand in the animal feed Concentrates
5.5%
industry. Isolates
The market for wheat protein has high demand from the lactose-intolerant population in India Textured/Hydrolyzed
looking for healthier protein substitutes. In India, almost 60-65% of the population is lactose- 58.9%
intolerant.

3.1.7 OTHER PLANT PROTEIN
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, OTHER INDIA PLANT PROTEIN MARKET, VALUE IN USD, OTHER PLANT PROTEIN,
PLANT PROTEIN, 2016 - 2026 2016 - 2026
30k 20 % 300M 20 %
24k 12 % 240M 12 %
M1 .79
M6 .19
M1 .78
M5 .38
M2 .87
M6 .08
M3 .67
180M
k6 .01
M8 .56
M5 .26
M5 .75
M7 .95
18k 0%
k5 .9
k1 .9
k8 .8
0%
k6 .8
k01
k4 .8
120M
k2 .7
k9 .6
k6 .6
k3 .6
12k
60M -12 %
6k -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The other plant protein market in India is the region's second-largest and fastest-growing market. The emergence of well-received start-ups in the industry for promoting sustainable food solutions is fueling
market expansion. Thus, the market is projected to register a value CAGR of 4.41% during the forecast period.
For instance, in February 2021, the Indian food technology start-up Proeon was selected by a global accelerator program by Scrum Ventures to support emerging and “out-of-the-box sustainable food
solutions.” The company is developing plant protein ingredients suited for a wide range of food applications, including meat alternatives, dairy and dairy alternatives, and plant-based egg replacements and
protein supplements, thus driving the market. Currently, the company offers Amaranth protein, mung bean protein, fava bean protein, and chickpea protein.
The F&B industry remained the key contributor to market revenue, with an application share of 99% by volume in 2020, mainly through dairy and dairy alternative products. It is also anticipated to be the
fastest-growing sector in the market, with a CAGR of 4.42%, by volume, during the forecast period. The growing vegan population in the country boosted the demand for dairy alternatives. The consumption of
lupin is increasing in human nutrition due to its high protein content of 36 grams per 100 grams and dietary fiber content and low-fat content, with its increasing functionalities.

3.2 BY END USER
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY END INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY END USER, 2016 - 2026
USER, 2016 - 2026
600k 3B
Food and Beverages Food and Beverages
480k 2.4B
Animal Feed Animal Feed
k5 .842
k6 .532
k3 .522
M4 .999
k2 .712
M6 .649
k8 .012
M5 .409
k7 .502
k8 .002
M2 .178
M6 .448
360k 1.8B
M7 .328
M9 .308
k7 .471
k6 .561
M8 .596
k3 .851
M1 .856
Supplements Supplements
k6 .251
M5 .726
M8 .306
240k Personal Care and Cosmetics 1.2B Personal Care and Cosmetics
120k 600M
0 0
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
6102
7102
8102
9102
6102
7102
8102
9102
India has the highest number of vegetarians in Asia-Pacific, thus driving the demand for plant- INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY END USER, 2020
based proteins in the country. Also, the growing inclination toward healthy, on-the-go meal options
contributes to market growth. About 70% of Indians are willing to focus on improving their overall
health and immunity and lower stress and anxiety by prioritizing dietary changes.
67%
The food and beverage segment highly dominates the market share. It is also anticipated to
register a CAGR of 4.45%, by volume, during the forecast period. Among all the end-user segments,
the personal care and cosmetics segment is likely to be the fastest-growing segment during the
Animal Feed
forecast period, with a CAGR of 7.20%, by volume. Food and Beverages
The COVID-19 pandemic exposed the vulnerability of the regional foodservice sector, which 33%
further drove consumers to the retail sector. Thus, the segment is expected to register a double-digit
growth rate of 14.96%, by volume, during the forecast period.

3.2.1 ANIMAL FEED
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, ANIMAL INDIA PLANT PROTEIN MARKET, VALUE IN USD, ANIMAL FEED, 2016 - 2026
FEED, 2016 - 2026
200k 10 % 700M 10 %
M8 .703
M6 .682
M9 .362
M9 .762
560M 6%
M6 .242
M7 .122
160k 6%
M4 .412
M692
M972
M372
k7 .78
k4 .48
M132
k7 .18
k5 .97
k8 .77
k2 .57
k4 .67
k3 .96 420M
k1 .66
k5 .36
120k
k5 .16
0% 0%
80k 280M
140M -6 %
40k -6 %
0 -10 %
0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The animal feed segment is the second-largest segment in the market, with a value share of INDIA PLANT PROTEIN MARKET, ANIMAL FEED, VALUE SHARE (%), BY
32.8% in 2020. It is also anticipated to register a CAGR of 2.82%, by volume, during the forecast
PROTEIN TYPE, 2020
period. Though soy protein dominates the application share among all the protein types, pea protein
is likely to be the fastest growing type in the market, with a CAGR of 5.60%, by volume, during the
forecast period.
The Indian government's support is highly boosting the market's growth. The 'Right to Protein' 20.1%
initiative announced the launch of India’s first feed label, ‘Soy Fed’, for animal protein products in
2021. Livestock that is fed with high-quality soy is healthier and a richer source of protein for Soy Protein
human consumption. It helps end-consumers distinguish packaged poultry, meat, and fish fed with Wheat Protein
79.9%
soy. It also gave permission to import soy protein meal for use in protein feed for poultry in 2021,
leading manufacturers to incorporate it in their products.

3.2.2 PERSONAL CARE AND COSMETICS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, PERSONAL INDIA PLANT PROTEIN MARKET, VALUE IN USD, PERSONAL CARE AND
CARE AND COSMETICS, 2016 - 2026 COSMETICS, 2016 - 2026
200 10 % 1M 10 %
k6 .544
k6 .014
160 6% 800k 6%
k9 .083
k5 .553
k6 .333
k6 .413
k2 .892
k9 .162
k6 .342
600k
6 .97
k403
k282
120
4 .37
0%
1 .86
6 .36
7 .95
0%
3 .65
5 .45
3 .35
7 .05
400k
1 .74
9 .34
80
200k -6 %
40 -6 %
0 -10 %
0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The personal care segment is the least applied segment for plant proteins, owing to its minimal INDIA PLANT PROTEIN MARKET, PERSONAL CARE AND COSMETICS, VALUE
market share in the country. The awareness for natural ingredients in the segment is gaining traction
SHARE (%), BY PROTEIN TYPE, 2020
in the country. In India, 71% of the customers prefer to pick up a face cream or lotion if it claims to
be ‘natural’, and 38% would buy a shampoo or hair oil made with ‘botanical’ ingredients. [19]
Due to the anti-aging trend in the personal care market, manufacturers are using hydrolyzed pea
30.8%
protein in their products as it helps in delivering volumizing and antioxidant-driven anti-aging
benefits. Thus, pea protein is anticipated to record a CAGR of 7.29%, by volume, during the forecast
period. Also, pea proteins had a higher protein value of 0.20% in 2020, which is 70% higher than Pea Protein
other plant proteins in the country. Rice Protein
69.2%

3.2.3 FOOD AND BEVERAGES
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY SUB INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY SUB END USER, 2016 -
END USER, 2016 - 2026 2026
400k 2B
Meat/Poultry/Seafood and Meat Meat/Poultry/Seafood and Meat
320k Alternative Products 1.6B Alternative Products
k8 .951
M2 .686
k3 .051
M6 .546
k7 .241
k8 .631
M5 .785
k1 .231
Dairy and Dairy Alternative Dairy and Dairy Alternative
M1 .765
k5 .821
M4 .155
240k 1.2B
k8 .421
M7 .535
M7 .844
k5 .401
M9 .224
M316
M8 .104
M6 .583
Products Products
k7 .89
k3 .09
160k 800M
k49
Bakery Bakery
80k RTE/RTC Food Products 400M RTE/RTC Food Products
0 Condiments/Sauces 0 Condiments/Sauces
Breakfast Cereals Breakfast Cereals
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
6102
7102
8102
9102
6102
7102
8102
9102
Snacks Snacks
Beverages Beverages
Confectionery Confectionery
The plant protein-fortified F&B market emerged as the largest segment in the market. This INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY SUB END USER, 2020
demand in the F&B sector is primarily led by the meat and meat alternative segment, which is
anticipated to record a CAGR of 3.99%, by volume, during the forecast period. Plant proteins have
the ability to mimic the textural properties of traditional meat, while giving a healthier alternative to
Bakery
the increasing vegan population in the country. 38.1% Breakfast Cereals
10.5% Condiments/Sauces
By type, soy protein had the highest demand, with a volume application share of 63%. Soy Dairy and Dairy Alternative
2.8%
protein is an economical and high-quality protein containing all essential amino acids. Thus, its high Products
demand in the F&B sector is primarily captivated by vegetarians. However, the segment is likely to 11% Meat/Poultry/Seafood and Meat
be dominated by hemp protein during the forecast period, with a CAGR of 5.08%, by volume. The 26.1% Alternative Products
7.9%
market experienced a dynamic sales growth in 2020, resulting in a double-digit growth rate of 3.5% RTE/RTC Food Products
19.35%, by volume, due to in-home consumption of nutritious goods to enhance immunity during Snacks
the COVID-19 pandemic. Such factors are creating opportunities for companies to develop new
health solutions enriched with plant proteins in the F&B sector.
3.2.3.1 BAKERY
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BAKERY, INDIA PLANT PROTEIN MARKET, VALUE IN USD, BAKERY, 2016 - 2026
2016 - 2026
50k 30 % 200M 30 %
160M 18 %
M4 .28
40k 18 %
M9 .67
M3 .86
M2 .56
k5 .22
M3 .36
M4 .85
k6 .91
k6 .81
M27
120M
M1 .64
k8 .71
M2 .34
k3 .71
M6 .04
M7 .83
30k
k12
0%
k6 .21
k8 .11
k2 .11
0%
k7 .01
k61
20k 80M
40M -18 %
10k -18 %
0 -30 %
0 -30 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
This segment registered a prominent share in the market, which is anticipated to witness a CAGR INDIA PLANT PROTEIN MARKET, BAKERY, VALUE SHARE (%), BY PROTEIN
of 5.42%, by volume, during the forecast period. By protein type, wheat protein dominates the
TYPE, 2020
market, primarily due to research that has confirmed that its addition balances rheology, softens
dough, shortens mix times, and maintains the gluten network. Also, its ability to replace eggs in a
simple, cost-effective way enhances its demand. Wheat protein gives a cost advantage to
manufacturers in the segment with a 10 times lower price ratio than egg protein. [20] 69.4%
Hemp Protein
However, pea protein is projected to witness the highest growth during the forecast period, with a Pea Protein
CAGR of 9.24%, by volume, owing to the rising number of innovations within this sector. Rice Protein
2.6%
4.6% 2.4% Soy Protein
Multi-protein baked goods are a current market trend in India. This has led to the inclusion of pea
protein with other proteins in products like The Health Factory Multi-Protein Bread, which has 48 g 21% Wheat Protein
of protein per loaf. Such trends are further boosting sales.

3.2.3.2 BEVERAGES
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, INDIA PLANT PROTEIN MARKET, VALUE IN USD, BEVERAGES, 2016 - 2026
BEVERAGES, 2016 - 2026
3k 10 % 20M 10 %
2.4k 6% 16M 6%
M5 .6
12M
M2 .6
M9 .5
M6 .5
2 .999
M4 .5
9 .969
k2 .1
M2 .5
M1 .5
M2 .5
1.8k
7 .159
6 .369
8 .509
k1 .1
M9 .4
k1 .1
M6 .4
M3 .4
0%
1 .218
0% 8M
358
k1
1.2k
4M -6 %
600 -6 %
0 -10 %
0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The segment has a noteworthy share in the F&B market, with prominent growth projected for the INDIA PLANT PROTEIN MARKET, BEVERAGES, VALUE SHARE (%), BY
forecast period, registering a CAGR of 4.60% by volume. By protein type, pea protein is witnessed
PROTEIN TYPE, 2020
to hold the largest demand over the entire review period. Pea protein possesses emulsifying
capabilities, making it well suited for plant-based meal-replacement beverages. Also, pea protein
holds a higher average protein content, which is almost 20% higher than other plant proteins like soy
protein. 18%
27.5% Hemp Protein
Among all the plant proteins, the other plant proteins segment is likely to register the fastest 9.2% Pea Protein
CAGR of 5.37%, by volume, during the forecast period. [21] Rice Protein
9.6%
The segment registered a significant decline in 2020, registering a negative 1.8% Y-o-Y growth Soy Protein
rate. This was primarily due to the non-availability of the product due to the shopping restrictions 35.7%
Other Plant Protein
that prevailed in the country, which impacted the sales of overall beverages drastically, registering a
negative growth rate of 2.5% in 2020.
3.2.3.3 BREAKFAST CEREALS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BREAKFAST INDIA PLANT PROTEIN MARKET, VALUE IN USD, BREAKFAST CEREALS, 2016
CEREALS, 2016 - 2026 - 2026
20k 25 % 50M 25 %
M3 .32
40M 15 %
M8 .02
16k 15 %
M3 .91
M8 .81
M4 .81
M22
M2 .51
M2 .41
M4 .31
M02
M8 .21
12k 30M
0%
k6 .6
k2 .6
k9 .5
0%
k6 .5
k5 .5
k3 .5
k2 .5
20M
k3 .4
k8 .3
8k
k6 .3
k4
10M -15 %
4k -15 %
0 -25 %
0 -25 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
Breakfast cereals are the most happening segment in the market, with the changing lifestyles of INDIA PLANT PROTEIN MARKET, BREAKFAST CEREALS, VALUE SHARE (%),
consumers preferring convenience foods. The segment is expected to register an increased CAGR of
BY PROTEIN TYPE, 2020
4.41%, on a volume basis, during the forecast period. Among all plant protein types, pea protein is
expected to be the fastest-growing type, with a CAGR of 7.19%, by volume, during the forecast
period.
62.9%
It responded positively to the situation in 2020, registering a splurge of 20.5% by volume, though
there were restrictions for shopping in the country. This was majorly due to the increasing preference Pea Protein
for non-allergic, protein-fortified foods, considering these products to be essential for immunity- Soy Protein
2.4%
building in the body. This was also attributed to the overall growth in the breakfast cereals segment Wheat Protein
in the country, which registered a 20.46% Y-o-Y growth rate in 2020. For example, Kellogg's
34.7%
claimed that its breakfast cereal sales grew by 18-20% during the pandemic from the previous 11-
12%. [22]

3.2.3.4 CONDIMENTS/SAUCES
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, INDIA PLANT PROTEIN MARKET, VALUE IN USD, CONDIMENTS/SAUCES,
CONDIMENTS/SAUCES, 2016 - 2026 2016 - 2026
30k 15 % 200M 15 %
24k 9% 160M 9%
M4 .85
M9 .45
M8 .15
M9 .84
120M
M3 .64
k3 .01
M9 .14
18k
M5 .43
M3 .23
M4 .03
0%
k7 .9
k1 .9
M44
0%
k6 .8
k2 .8
M73
k8 .7
80M
k4 .7
k5 .6
k1 .6
k7 .5
12k
k4 .5
40M -9 %
6k -9 %
0 -15 %
0 -15 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
Sauce products mostly involve high chemical use in their making, due to which consumer INDIA PLANT PROTEIN MARKET, CONDIMENTS/SAUCES, VALUE SHARE (%),
preference toward these products is highly restricted in India, resulting in the segment registering a
BY PROTEIN TYPE, 2020
nominal market share. However, the segment is anticipated to register a CAGR of 5.78%, by
volume, during the forecast period. [23]
The segment is dominated by applications from soy protein, by volume, during the study period. 48.8%
This is majorly due to its cost advantage for manufacturers in the country, as it is priced three times
lower than other plant protein types, thereby dominating the segment by value. Also, soy protein is Pea Protein
1.6% Soy Protein
expected to register a CAGR of 5.45%, by volume, during the forecast period.
Wheat Protein
The segment further got recognition in 2020, with the increase in in-home consumption and the 17%
Other Plant Protein
need for restaurant-style taste at home, resulting in the highest Y-o-Y growth rate of 13.24% by 32.5%
value. Plant protein fortification in these products increased awareness about its health factors,
boosting consumer trust.
3.2.3.5 CONFECTIONERY
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, INDIA PLANT PROTEIN MARKET, VALUE IN USD, CONFECTIONERY, 2016 -
CONFECTIONERY, 2016 - 2026 2026
700 30 % 5M 30 %
560 18 % 4M 18 %
M1 .2
8 .213
5 .492
M9 .1
4 .872
M8 .1
M7 .1
8 .462
M6 .1
1 .452
533
M6 .1
3M
2 .842
M2
420
M2 .1
M1 .1
1 .291
M1 .1
0%
8 .871
7 .761
6 .951
0% 2M
M1
280
1M -18 %
140 -18 %
0 -30 %
0 -30 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The protein-enriched confectionery segment is currently at a nascent stage, but it is projected to INDIA PLANT PROTEIN MARKET, CONFECTIONERY, VALUE SHARE (%), BY
hold a significantly nominal CAGR value of 4.03%, on a volume basis, during the forecast period.
PROTEIN TYPE, 2020
By protein type, pea protein holds the highest demand over the review period, which is expected
to register a CAGR of 5.68%, by volume, during the forecast period. It is primarily used as a milk
and milk protein substitute in confections while maintaining organoleptic qualities, particularly taste,
that are at least equivalent or even superior to those of traditional confections containing milk. It is
used as a foaming agent and gives the required texture and mouthfeel to confection.
100% Pea Protein
In 2020, the market witnessed high growth, reaching a Y-o-Y volume growth rate of 29.2%. This
growth can be attributed to the increased demand for healthy snacking and consumers' stockpiling
behavior amid the lockdown, primarily for convenience foods. This is also attributed to the increased
demand for confections registered in 2020, with a Y-o-Y growth rate of 29.19% by volume.

3.2.3.6 DAIRY AND DAIRY ALTERNATIVE PRODUCTS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, DAIRY AND INDIA PLANT PROTEIN MARKET, VALUE IN USD, DAIRY AND DAIRY
DAIRY ALTERNATIVE PRODUCTS, 2016 - 2026 ALTERNATIVE PRODUCTS, 2016 - 2026
90k 20 % 400M 20 %
M4 .561
M8 .651
M5 .051
M9 .541
M5 .241
320M 12 %
M1 .831
72k 12 %
M4 .911
M4 .111
M9 .411
M7 .801
k9 .93
M041
k8 .73
k3 .63
k2 .53
k7 .33
k3 .43
k3 .33
54k
k8 .82 240M
k8 .72
k4 .62
0% 0%
k72
36k 160M
80M -12 %
18k -12 %
0 -20 %
0 -20 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The dairy and dairy alternative products segment is the second-largest category under the F&B INDIA PLANT PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE
industry, which is expected to witness a CAGR of 3.40%, by volume, in the forecast period. Soy
PRODUCTS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
protein's properties and functionalities other than protein fortification enable its use as an emulsifier,
tenderizer, binder, stabilizer, and thickener, and make it an ideal ingredient across the segment. Also,
its fine particle size and dispersibility are other advantages making it ideal for dairy applications.
However, soy flavors have a tendency to overpower fermented dairy flavors and chalky texture 23.2%
even at a lower concentration, which makes its fortification in dairy foods a particular challenge.
This factor and the rising soy allergic rate are expected to hinder its market demand in the near Soy Protein
future. Soy is expected to have a comparatively lower CAGR value of 3.40%, by volume, in the Other Plant Protein
forecast period. Among all the plant protein types, the other plant protein segment owes to have a 76.8%
1.0% penetration rate, which is 20% higher than other plant proteins like soy with 0.8%. [24]

3.2.3.7 MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, INDIA PLANT PROTEIN MARKET, VALUE IN USD, MEAT/POULTRY/SEAFOOD
MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, 2016 - AND MEAT ALTERNATIVE PRODUCTS, 2016 - 2026
2026
600M 25 %
M2 .052
M1 .632
200k 25 %
M4 .522
M5 .012
480M 15 %
M6 .102
M5 .502
M8 .661
M9 .551
M5 .741
M712
160k 15 % 360M
M241
0%
120k 240M
k8 .95
k5 .65
k9 .35
k4 .05
k9 .15
k3 .84
k2 .94
0%
k1 .04
k6 .73
k4 .43
k6 .53
80k 120M -15 %

40k -15 % 0 -25 %
0 -25 % 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
(e) (f) (f) (f) (f) (f) (f) Value YOY(%)
Volume YOY(%)
India has the highest number of vegetarians globally, with more than 400 million people INDIA PLANT PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT
identifying as vegetarian, majorly driving the demand for mainly meat alternative products. More
ALTERNATIVE PRODUCTS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
than animal protein ingredients, plant proteins have immense applications in the segment, imitating
the textural properties of meat. Thus, the segment is anticipated to witness a CAGR of 3.99%, by
volume, in the forecast period. It is dominated by the applications from the other plant protein
segment, which is anticipated to witness the fastest CAGR of 5.96% by value in the forecast period. 63.3%
[25]
Pea Protein
The increasing preference for plant-based meat is highly influencing the market growth. Rice Protein
Approximately 63% of Indians are likely to purchase plant-based meat regularly. Health and food Soy Protein
safety concerns about GMOs are majorly driving consumers toward meat alternative products. In 26.1%
10.6%
recent years, a growing body of research has linked the consumption of meat to problems such as
heart disease, cancer, and diabetes, further splurging the demand for plant-based meat.

3.2.3.8 RTE/RTC FOOD PRODUCTS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, RTE/RTC INDIA PLANT PROTEIN MARKET, VALUE IN USD, RTE/RTC FOOD
FOOD PRODUCTS, 2016 - 2026 PRODUCTS, 2016 - 2026
30k 25 % 200M 25 %
24k 15 % 160M 15 %
M5 .57
M1 .07
M7 .56
k9 .21
M3 .26
M6 .95
M7 .55
M5 .75
k1 .21
k4 .11
120M
k8 .01
k41
M1 .64
k4 .01
M2 .34
M7 .04
M9 .73
18k 0%
k01
0%
k3 .8
k8 .7
80M
k3 .7
k7 .6
12k
40M -15 %
6k -15 %
0 -25 %
0 -25 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The sub-segment is majorly driven by the increasing demand for convenience foods with INDIA PLANT PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, VALUE SHARE
incorporated health factors. Thus, the segment is anticipated to witness a CAGR of 6.08%, by
(%), BY PROTEIN TYPE, 2020
volume in the forecast period. About 76% of Indian parents in big cities, mostly both parents
working with children under the age of five, are serving easy-to-make meals in some form or the
other, at least 10-12 times every month. [26]
34.6%
By protein type, pea protein saw the largest market share with 29.6% by volume, and it is also
anticipated to register a nominal CAGR of 4.71%, by volume, in the forecast period, due to its 18.1% Pea Protein
gelling and stabilizing features. It can be formed into a liquid, warmed, mixed with other Soy Protein
ingredients, chilled, frozen, and served at room temperature. Another driving reason is its Wheat Protein
13.2%
incomparable strength and flexibility. However, the soy protein demand is projected to be the fastest Other Plant Protein
34.2%
with a CAGR of 10.56%, by volume, in the forecast period.

3.2.3.9 SNACKS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, SNACKS, INDIA PLANT PROTEIN MARKET, VALUE IN USD, SNACKS, 2016 - 2026
2016 - 2026
20k 30 % 50M 30 %
M3 .22
40M 18 %
M5 .02
16k 18 %
M7 .71
M6 .61
M5 .51
M7 .41
M91
M7 .11
30M
M9 .01
M3 .01
12k 0%
M7 .9
0%
k2 .5
20M
k8 .4
k5 .4
k1 .4
k8 .3
8k
k6 .3
k4 .3
k7 .2
k4 .2
k5 .2
k2 .2
10M -18 %
4k -18 %
0 -30 %
0 -30 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The snack segment is expected to have a significant market share and the fastest growth in the INDIA PLANT PROTEIN MARKET, SNACKS, VALUE SHARE (%), BY PROTEIN
forecast period, with a CAGR of 7.82%, by volume. By protein, soy protein has had the largest
TYPE, 2020
demand in the category, which is also anticipated to witness a high CAGR of 8.42%, by value, in the
forecast period. Studies have shown that soy protein snacking improves teens' appetite control and
diet quality, driving the demand. Soy also offers versatility in snack compositions, with up to 25g
protein per serving. These factors are responsible for constant market sales.
63% Hemp Protein
However, pea protein's demand is projected with the fastest CAGR of 8.93%, by volume, in the 10.2% Pea Protein
forecast period. This growth can be attributed to the numerous market innovations done in the pea Rice Protein
protein profile. Local players like Wonder Slim Pea Protein Snack Chips and Fitco Protein Puffs 10.2%
Soy Protein
entered the market focused on weight management and muscle building, further driving the market 4.4%
12.1% Other Plant Protein
sales.

3.2.4 SUPPLEMENTS
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY SUB INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY SUB END USER, 2016 -
END USER, 2016 - 2026 2026
2k 20M
Sport/Performance Nutrition Sport/Performance Nutrition
1.6k 16M
Baby Food and Infant Formula Baby Food and Infant Formula
4 .329
9 .378
8 .138
4 .008
1.2k 8 .757 12M
5 .547
4 .737
8 .386
Elderly Nutrition and Medical Elderly Nutrition and Medical

777
967
907
Nutrition Nutrition
M7 .4
M5 .4
M3 .4
M2 .4
M1 .4
M1 .4
800 8M
M8 .3
M6 .3
M5
M4
M4
400 4M
0 0
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
) e( 0 2 0 2
) f( 1 2 0 2
) f( 2 2 0 2
) f( 3 2 0 2
) f( 4 2 0 2
) f( 5 2 0 2
) f( 6 2 0 2
6102
7102
8102
9102
6102
7102
8102
9102
Plant proteins are highly preferred for supplement products as they are highly hypoallergic and INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY SUB END USER, 2020
suitable for any age group. Improved applications of plant proteins originating from soy, pea, rice,
and hemp proteins majorly dominated the market. These proteins contain essential fatty acids, which
help maintain lean body mass and brain function. Thus, the segment is anticipated to witness a
volume CAGR of 4.03% in the forecast period.
79.1%
By supplement type, sport and baby nutrition saw the highest demand due to their functionalities, Baby Food and Infant Formula
Elderly Nutrition and Medical
like growth, repair, and strengthening of muscular tissue. About 30% of the Indians had a gym or
Nutrition
fitness center membership in 2020. 15.8%
Sport/Performance Nutrition
By protein type, soy protein holds the highest demand over the review period, which is also 5.1%
anticipated to register a CAGR of 4.07%, by value, in the forecast period. This is attributed to the
15-20% higher protein volume, making it highly suitable for the segment.

3.2.4.1 BABY FOOD AND INFANT FORMULA
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BABY INDIA PLANT PROTEIN MARKET, VALUE IN USD, BABY FOOD AND INFANT
FOOD AND INFANT FORMULA, 2016 - 2026 FORMULA, 2016 - 2026
500 10 % 3M 10 %
400 6% 2.4M 6%
k9 .579
k3 .898
k5 .928
k1 .177
5 .491
k4 .917
k7 .476
k6 .056
k2 .536
1.8M
k3 .126
k6 .375
k7 .595
3 .561
300
7 .351
4 .341
0%
4 .431
1 .031
6 .621
6 .421
971
7 .511
8 .911
0% 1.2M
200
600k -6 %
100 -6 %
0 -10 %
0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The baby food sub-segment emerged as the second largest sub-segment in the market with a INDIA PLANT PROTEIN MARKET, BABY FOOD AND INFANT FORMULA,
volume application share of 16.9% in 2020 within the supplements segment. There is increasing
VALUE SHARE (%), BY PROTEIN TYPE, 2020
demand for infant foods in the country with the rising working women population in the country.
About 20.7% of the working force in India is female. [27]
Soy proteins have immense applications in the sub-segment, driving manufacturers' preference to
33.7%
use them as ingredients in baby food supplement products. However, soy protein is fortified and
balanced with the right amount of nutrients as per the baby’s requirements, making it highly suitable
for baby foods. Its digestibility factor is driving its use by the manufacturers in the region. Thus, Pea Protein
ingredient use is anticipated to grow, recording a CAGR of 7.66%, by volume, during the forecast Soy Protein
period. India has given a chance to product manufacturers from other countries to take their market
66.3%
positions. Australian-originated Else Nutrition has received a patent to enter India.

3.2.4.2 ELDERLY NUTRITION AND MEDICAL NUTRITION
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, ELDERLY INDIA PLANT PROTEIN MARKET, VALUE IN USD, ELDERLY NUTRITION AND
NUTRITION AND MEDICAL NUTRITION, 2016 - 2026 MEDICAL NUTRITION, 2016 - 2026
90 5% 500k 5%
k3 .222
k9 .312
k5 .712
k5 .702
k1 .902
k2 .112
k3 .602
400k 3%
k2 .791
k7 .002
k7 .091
k8 .391
72 3%
5 .24
5 .14
3 .04
9 .04
4 .93
6 .93
9 .93
4 .83 300k
3 .73
9 .73
8 .63
54 0%
0% 200k
36
100k -3 %
18 -3 %
0 -5 %
0 -5 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
The elderly nutrition sub-segment is the least applicable segment for plant proteins with minimal INDIA PLANT PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL
market share in the country. However, it is anticipated to witness a CAGR of 1.40%, by volume,
NUTRITION, VALUE SHARE (%), BY PROTEIN TYPE, 2020
during the forecast period. Plant proteins such as soy, rice, and pea proteins have major applications
in the sub-segment. Soy proteins provide all the essential amino acids required for senior health.
Most of the elderly people in the country are vegetarians, which is driving the demand for plant 26.3%
protein products in the sub-segment. The Indian Council of Medical Research (ICMR) recommends Hemp Protein
that an average adult should consume between 0.8 to 1g of protein per kg of body weight every day. 13.2%
Pea Protein
However, as per the World Resources Institute estimates, an Indian adult consumes 47g of protein 24.8% Rice Protein
per day, which is closer to just 0.6g. However, the Indian government is also supporting the 'Right to 12.3%
Soy Protein
protein' initiative, highly increasing consumer trust towards these products.
23.3%
Other Plant Protein

3.2.4.3 SPORT/PERFORMANCE NUTRITION
INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, INDIA PLANT PROTEIN MARKET, VALUE IN USD, SPORT/PERFORMANCE
SPORT/PERFORMANCE NUTRITION, 2016 - 2026 NUTRITION, 2016 - 2026
2k 10 % 8M 10 %
1.6k 6% 6.4M 6%
M8 .3
M6 .3
M4 .3
M3 .3
M3 .3
M3 .3
M2 .3
M2 .3
M1 .3
M9 .2
4.8M
4 .686
4 .356
1.2k
6 .526
4 .606
M3
5 .006
7 .385
7 .395
9 .475
5 .975
9 .155
0%
3 .135
0% 3.2M
800
1.6M -6 %
400 -6 %
0 -10 %
0 -10 %
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (e) (f) (f) (f) (f) (f) (f)
(e) (f) (f) (f) (f) (f) (f)
Value YOY(%)
Volume YOY(%)
Sports nutrition is the major sub-segment in the market among other supplements, and it is also INDIA PLANT PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION,
registered to witness a CAGR of 3.30%, by volume, during the forecast period. Soy proteins are
VALUE SHARE (%), BY PROTEIN TYPE, 2020
dominantly used in the sub-segment due to their functionalities and as they are efficient in providing
muscle mass required for athletes. Thus, soy protein is anticipated to grow, recording a CAGR of
3.24%, by volume, during the forecast period. [28]
28.4%
With the closure of gym activities in the country and restricted availability of the products, the 19.3% Hemp Protein
sub-segment has been affected negatively, registering a 3.50% Y-o-Y growth rate on a volume basis Pea Protein
in 2020. However, the market is expected to grow steadily during the forecast period, resulting in a 4.8%
Rice Protein
5.8%
positive CAGR in the sub-segment. The millennial population in the country is highly adopting
Soy Protein
fitness as a lifestyle, highly driving demand. The increasing gym population in the country is also
41.6%
Other Plant Protein
driving market growth. The country has approximately six million active gym users. [29]

4 Competitive Landscape
4.1 Key Strategic Moves
4.2 Market Share Analysis

4.1 KEY STRATEGIC MOVES
MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2016-2021 MOST ADOPTED STRATEGIES, 2016-2021
Kerry Group PLC 1 1 1 1 Product Innovation

Merger & Acquisition
46.7%
DuPont de Nemo... 3 1 Expansion
Corporate Development
Expansion
Ingredion Incorp... 2 1 Partnership 6.7%
6.7% Merger & Acquisition
13.3% Partnership
Archer Daniels Mi... 1 1
Product Innovation
26.7%
Südzucker AG 1
The strategies adopted by the key players during the review period to establish a strong consumer base in the industry included product innovations, mergers, and acquisitions, expansions, partnerships, and
joint ventures. Companies like ADM, Kerry Group, DuPont de Nemours, and Ingredion Inc. have been significantly investing in product innovations. Cargill launched Radipure, a pea protein developed and
manufactured in Asia, to support the ever-increasing Asian consumer market and demand for plant-based proteins.
Expansion remained the second most adopted strategy by the key players in the market. Beneo, the subsidiary of Südzucker AG, established a new office, BENEO India Private Limited, in Delhi, India, after
witnessing rising demand for plant proteins from the local Indian market.
Partnerships are another major strategy adopted by the market frontrunners. For instance, aiming to expand its presence in the Asia-Pacific market and strengthen its plant protein business, Tereos SCA
partnered with Jinnong. As per the long-term partnership, Jinnong will produce and supply Tereos with a full range of rice proteins, where Tereos will take care of marketing and distribution for these products in
Asia-Pacific, except China.

4.2 MARKET SHARE ANALYSIS

The Indian plant protein market is highly fragmented, with key players like Südzucker AG, DuPont INDIA PLANT PROTEIN MARKET, MARKET SHARE, 2020
de Nemours Inc., Vippy Industries Limited, and Archer Daniels Midland Company accounting for a
14.60% market share in 2020.
Südzucker AG, the leading market player, held a 7.1% share in 2020. The company's subsidiary,
Beneo, is doing exceptionally well in the Indian market. The business opened a new office in Delhi,
India, called BENEO India Private Limited, to preserve its market leadership. As a result, the new Indian
office will be able to cover the entire country while working closely with local distributors.
DuPont de Nemours Inc. is another key player in the market that has focused on product innovation
as its growth strategy, targeting the current market trends like healthy snacking. Accordingly, the
company has introduced pea proteins to target the application sector. For instance, in March 2019, Südzucker AG
DuPont extended its DuPont™ Danisco® range featuring pea protein nuggets TRUPRO® 1673 and DuPont de Nemours Inc.
85.4%
TRUPRO® 1670 for application in snacks, cereals, and nutritional bars. VIPPY INDUSTRIES LIMITED
7.1% Archer Daniels Midland Company
Vippy Industries Limited is acting as a good competitor to the international key players due to its
domestic roots and decades of presence in the Indian market.
2.6% Kerry Group PLC
2.1%
1.9% Ingredion Incorporated
0.5%
0.3% Others

4.3.1 Südzucker AG
4.3.2 DuPont De Nemours Inc.
4.3.3 VIPPY INDUSTRIES LIMITED
4.3.4 Archer Daniels Midland Company
4.3.5 Kerry Group PLC
4.3.6 Ingredion Incorporated
4.3.7 Roquette Frère
4.3.8 Cargill, Incorporated

4.3.1 SÜDZUCKER AG - GLOBAL OVERVIEW
CORE BUSINESS SEGMENTS

8,014.8 M
Global Revenue in USD
SUGAR
FY 2020 ( All Segments ) Division Business Unit Sugar
Division Agrana Sugar
Division Sugar Moldova
Division Agriculture
OVERVIEW Sugar Other
11,004
SPECIAL PRODUCTS
Employees
Südzucker AG is a producer and supplier of food, Division Beneo
animal feed, and ethanol. Its marketing is focused Division Freiberger
on business-to-business clients.
Division Starch
Division Portionpack Europe
Its sugar, special products, and fruit segments are
key food industry players, while its CropEnergies 1926
CROPENERGIES
segment is the leading ethanol producer in the
Founded
European Union.
FRUIT
The company owns over 100 production locations Fruit Preparations Agrana Fruit
in 32 countries. Fruit Juice Concentrates Austria Juice
MANNHEIM, GERMANY Fruit Other
Headquarters

4.3.1 SÜDZUCKER AG - MARKET OVERVIEW
PLANT PROTEIN SPECIAL PRODUCTS

CORE SOLUTIONS & PRODUCT OFFERINGS
MARKET SEGMENT COMPANY VERTICAL

Südzucker offers wheat protein, wheat gluten, and
rice protein through its wholly-owned subsidiary
Beneo. Beneo is currently present in more than 80 KEY INFORMATION
countries around the world. 1
The company's vital wheat gluten is manufactured Market Rank The company processes about 35 million tons of
in multiple state-of-the-art and food-certified
processing plants across Europe, distributed to the agricultural raw materials annually.
global market. It also offers Beneo's endosperm
rice proteins, which is an all-natural, gluten-free, Südzucker's Special products segment, which runs
non-GMO, hypoallergenic ingredient with an
excellent amino acid profile and digestibility. 7.1 % its protein business, owns 29 production sites
worldwide, including 5 in the United States.
Market Share (2020)
56.9 M USD
Segmental Revenue (2020)

4.3.1 SÜDZUCKER AG - PRODUCTS & SERVICES
Popular Brands Description Popular Brands Description
BeneoPro W-Tex is a range of textured wheat proteins Remypro is a range of concentrated sources of rice
BeneoPro W-Tex Remypro
applicable in human nutrition. proteins.
BeneoPro VWG is a range of wheat gluten, naturally

Remyfeed PRO offers concentrated rice proteins for
Remyfeed PRO BeneoPro VWG derived from qualitative non-GMO wheat, sourced in
animal nutrition.
the European Union.
BeneoPro W is the company's feed-grade range of

BeneoPro vital wheat gluten. It is available in powder or pellets
forms.

4.3.1 SÜDZUCKER AG - KEY DEVELOPMENTS
Date Type of Key Development Details
Beneo, the subsidiary of Südzucker AG, established a new office (Beneo India Private Limited) in Delhi, India, after witnessing
October rising demand from the local market. Accordingly, the new Indian office will cover the domestic demand in close cooperation with
Expansion
2016
the local distributors.

4.3.2 DUPONT DE NEMOURS INC. - GLOBAL OVERVIEW

20,397 M
ELECTRONICS & IMAGING
FY 2020 ( All Segments )
NUTRITION & BIOSCIENCES
Food & Beverage
Health & Biosciences
OVERVIEW 34,000 Pharma Solutions
Employees TRANSPORTATION & INDUSTRIAL

Healthcare & Specialty
DuPont is engaged in producing agricultural
products, material science, and specialty products Industrial & Consumer
through its international operational activities. Mobility Solutions
1802
Collectively, the company operates 441 SAFETY & CONSTRUCTION
manufacturing sites across the world. Founded
NON-CORE
The company has more than 20 R&D centers Biomaterials
worldwide, focused on finding innovative solutions
Clean Technologies
for the food and beverage and other industries. WILMINGTON, UNITED DuPont Teijin Films
Photovoltaic & Advanced Materials
STATES
Headquarters

4.3.2 DUPONT DE NEMOURS INC. - MARKET OVERVIEW
PLANT PROTEIN NUTRITION & BIOSCIENCES


Dupont offers a wide range of pea protein and soy
protein ingredients under the plant protein
category. The pea proteins offered possess a KEY INFORMATION
protein range of 70-83%, whereas the soy proteins
have a protein range of 70-90%. These ingredients
2
are available in multiple formats, including dry Market Rank The company’s soy protein solutions support at least
powders, granular, and extruded, to suit a variety
of applications. six of the United Nations Sustainable Development
Goals.
These ingredients majorly find applications in
powdered and ready-to-drink protein drinks, snack
bars and cereals, dairy-alternative beverages, fruit 2.6 % As per a third-party validated Life Cycle Assessment,
smoothies, as well as meat alternatives. Dupont's soybean isolate has a carbon footprint up
Market Share (2020)
to 80 times lower than dairy and meat proteins.
21.0 M USD

4.3.2 DUPONT DE NEMOURS INC. - PRODUCTS & SERVICES
It is an all-natural vegetable protein widely used in TRUPRO® Pea Protein can be used in various
GRINDSTED® VEG PRO bakery products, bars, beverages, culinary, dairy TruPro applications like bars, beverages, diary, frozen
products, and frozen desserts. desserts, and fruit applications.
SUPRO offers a range of soy protein isolate

RESPONSE is a range of Textured Soy Protein
SUPRO ingredients applicable in meat, meat alternatives, and RESPONSE
Concentrates.
beverages, among others.
PROPLUS Vegetable Protein Products are soy protein

isolates that have been specially fortified to meet the PROFINE is a range of soy protein concentrates
PROPLUS PROFINE
nutritional requirements of the US National School applicable in animal feed.
Lunch Program.
ALPHA offers a variety of functional soy protein

PROCON provides a range of soy protein concentrates. These are optimized for cost efficiency
PROCON ALPHA
concentrates, available in powder format. and bind fat and water better than other soy protein
concentrates.

4.3.2 DUPONT DE NEMOURS INC. - PRODUCTS & SERVICES
Popular Brands Description
NURISH Soy Protein Isolate offers functional and digestible source of proteins for pet food, calf milk replacers, and
NURISH
piglet diets.

4.3.2 DUPONT DE NEMOURS INC. - KEY DEVELOPMENTS
DuPont's Nutrition & Biosciences and the ingredient company IFF announced their merger in 2021. The combined company will
February continue to operate under the name IFF. The complementary portfolios give the company leadership positions within a range of
Merger & Acquisition
2021
ingredients, including soy protein.
DuPont launched new plant-based protein nuggets, expanding the DuPont™ Danisco® range featuring proteins and healthy
March snacking. The company unveiled six new plant protein nuggets featuring pea and soy protein options that add a crunchy texture
Product Innovation
2019
and higher protein content to food products.
DuPont Nutrition and Health expanded its plant-based protein product range with TRUPRO™ 2000 Pea Protein from the
October
Product Innovation DuPont™ Danisco® range of ingredients. It is specifically designed for beverage applications.
2018
DuPont launched SUPRO XT55 Isolated Soy Protein, designed specifically to improve the profitability of ready-to-drink and high-
protein beverages by helping beverage manufacturers more effectively manage protein costs. SUPRO® XT55 claims the
April
Product Innovation possibility to replace up to 50% of the dairy protein in beverage formulations without compromising sensory performance or
2017
protein nutrition.

4.3.3 VIPPY INDUSTRIES LIMITED - GLOBAL OVERVIEW

223.4 M
FOOD
FEED
HEALTH/INDUSTRY
OVERVIEW 356
Employees
Vippy Industries claims to be the pioneer in soy
processing in India and is one of the leading
processors and exporters of a wide range of non-
GMO soy products. 1973
Its strong processing, storage, infrastructure, R&D Founded
facilities, and far-reaching marketing network have
made it a respectable and dependable name in the
soy industry.
DEWAS, MADHYA PRADESH,
Its current combined capacity of soy is 1,800
MT/day.
INDIA
Headquarters

4.3.3 VIPPY INDUSTRIES LIMITED - MARKET OVERVIEW
PLANT PROTEIN FOOD


Vippy Soya offers textured soy protein, a high
protein product rich in dietary fiber and minerals
and contains no cholesterol, lactose, or casein, and KEY INFORMATION
is free from microbiological contamination. 3
This product is used in a wide range of food Market Rank It has the three most advanced manufacturing units
applications, including soups, hamburgers, ground
meat, stuffing, and sausages. These are also low- combining the world's best technology from
cost or high nutrition extenders in comminuted Switzerland and Germany. The major supplier of
meat and poultry products and in tuna salads.
plant and machinery are Krupp, Westfalia, and
2.1 % Buhler.
Market Share (2020)

It verifies the sustainability at every level in
processing value-added products and continuously
working toward their goal of protecting the
17.1 M USD environment.

4.3.3 VIPPY INDUSTRIES LIMITED - PRODUCTS & SERVICES
It offers non-GMO textured soy proteins for food

TVP Amipro Amipro offers NON GMO Bypass Soya Protein.
applications.

4.3.4 ARCHER DANIELS MIDLAND COMPANY - GLOBAL OVERVIEW

64,355 M
FOOD AND BEVERAGE SOLUTIONS
FY 2020 ( All Segments ) Acidulants
Alcohol
Ancient Grains & Seeds
Bases
OVERVIEW Seasonings & Powders
38,100 Beans & Pulses
Employees Colors
Archer Daniels Midland Company is one of the
Other Ingredients
largest agricultural processors and food ingredient
providers. HEALTH & WELLNESS
Its business focuses on producing various food

ingredients, animal nutrition, biofuels, and other 1902 ADM ANIMAL NUTRITION
products, as a nutritious food source. It has its ADM INDUSTRIAL PRODUCTS

Founded
consolidated subsidiaries in more than 70
countries. FUEL
The company also owns 170 warehouses and

terminals and 61 innovation centers.
ILLINOIS, UNITED STATES
Headquarters

4.3.4 ARCHER DANIELS MIDLAND COMPANY - MARKET OVERVIEW
PLANT PROTEIN FOOD AND BEVERAGE SOLUTIONS, ANIMAL

CORE SOLUTIONS & PRODUCT OFFERINGS NUTRITION

Plant proteins offered under the company’s Food &
Beverage sub-division include a range of featured
soy, wheat, and pea proteins with varying protein KEY INFORMATION
content and application sectors. Plant proteins
offered under the animal nutrition sub-segment
4
include a range of featured corn, oilseeds, wheat, Market Rank ADM uses new and cutting-edge satellite imaging
beans, seeds, pea, and lentil proteins of varying
protein content and application sectors. technology to keep a check on sustainability
throughout the supply chain.
ADM primarily manufactures plant proteins,
marketed under the Plant Protein Nutrition
Solutions sub-division. 1.9 % ADM has a global value chain that includes
approximately 500 crop procurement locations, 250
Market Share (2020)
ingredient manufacturing facilities, 38 innovation
centers, and a top-class crop transportation network.
15.7 M USD

4.3.4 ARCHER DANIELS MIDLAND COMPANY - PRODUCTS & SERVICES
Whetpro offers vital wheat gluten, which is sourced It is a premium high-protein vital wheat gluten used in
Whetpro® SuperGluten
from high-protein Canadian wheat. pasta applications.
ADM offers pea, wheat, and soy proteins under its

The Smartbind™ brand offers natural wheat proteins
PurelyNature™ brand. It offers proteins in the form of
PurelyNature™ Smartbind™ with 90% protein content, which are ideally used for
isolates, concentrates, and grits, with protein
different food applications.
concentration levels from 60% to 90%.
Provim offers vital wheat gluten for a variety of Prolite offers five variants of wheat proteins for
Provim® ESP® Prolite®
applications. different end-user applications.
TVP textured vegetable protein is a soy-based

Soycomil P is a high-quality soy protein concentrate
Soycomil TVP textured product with a fibrous structure that has the
specially designed for the animal feed industry.
texture of meat. This is applicable in the feed industry.

4.3.4 ARCHER DANIELS MIDLAND COMPANY - PRODUCTS & SERVICES
Ardex soy protein isolate contains 90% crude protein,

The product contains 65% protein and is applicable in
Soy Protein Concentrate Ardex applicable in animal feed. It is manufactured from soy
the animal feed industry.
flakes.
The NutriStem brand offers proteins extracted from The NutriFlex brand offers different systems of protein
NutriStem NutriFlex
beans, pulses, grains, and seeds. blends.

4.3.4 ARCHER DANIELS MIDLAND COMPANY - KEY DEVELOPMENTS
ADM opened a new cutting-edge, plant-based innovation lab located in ADM’s Biopolis research hub in Singapore. The lab
develops advanced products and customized solutions to meet the growing food and beverage demand in the Asia-Pacific region.
April The ADM Biopolis research hub in Singapore features a wide range of capabilities, including a food and flavor analytic lab, beverage
Expansion
2021
and dairy applications lab and pilot plant, bakery and confectionery lab, meat and savory lab, sweet and savory creation lab, sensory
evaluation facilities, customer innovation center, and a new plant-based innovation lab.
ADM formed a joint venture with beef producer Marfrig. Through this collaboration, ADM aims to supply plant-based products,
June including soy flour, soy protein concentrates, isolated soy proteins, textured protein, wheat protein isolates, and other products, to
Partnership
2020
the North and South American markets.

4.3.5 KERRY GROUP PLC - GLOBAL OVERVIEW

8,540.4 M
TASTE & NUTRITION
FY 2020 ( All Segments ) Beverages
Bakery
Dairy
Meat
OVERVIEW Meals
26,000 Snacks
Employees Confectionery
Kerry Group PLC and its subsidiaries develop,
manufacture, and deliver technology-based taste CONSUMER FOODS
and nutrition solutions for the food and beverage
and pharmaceutical industries.
The company owns about 149 manufacturing 1972

locations across 31 countries worldwide.
Founded
Kerry's customers include global, regional and local
manufacturers, retailers and foodservice providers.
TRALEE, IRELAND
Headquarters

4.3.5 KERRY GROUP PLC - MARKET OVERVIEW
PLANT PROTEIN TASTE & NUTRITION


Plant proteins offered by the company primarily
include pea protein. The company also offers an
enzymatically hydrolyzed plant protein range, KEY INFORMATION
under the Hyprol™ brand, which includes pea,
rice, and wheat proteins.
5
Market Rank Kerry's sustainable plant proteins are associated with
The company offers ProDiem and ProDiem Refresh
pea protein hydrolysate ingredients, which are a higher reduction of CO2 emissions when
clean-label vegan proteins developed for low pH compared with traditional meat processing.
beverages and help supports weight management,
satiety, muscle health, and lean body mass.
0.5 % The company has a no-deforestation commitment
across targeted supply chains, including protein
Market Share (2020)
Ingredients, which represent a high risk of
deforestation by 2025.
3.8 M USD

4.3.5 KERRY GROUP PLC - PRODUCTS & SERVICES
ProDiem is a nutritional plant protein solution made

It is an allergen-free, clean-label vegan protein
ProDiem with pea, rice, or sunflower proteins that can be used ProDiem Refresh
developed for low-pH beverages.
across many food and beverage applications.
Hyprol offers a range of hydrolyzed soy protein

K-Tex K-tex is a range of dry extruded soy proteins. Hyprol
ingredients.

4.3.5 KERRY GROUP PLC - KEY DEVELOPMENTS
Kerry has announced it will a purpose-build food technology and innovation center of excellence in Queensland, Australia. The
facility acted as the new headquarters for Kerry in Australia and New Zealand while its existing facility in Sydney will retain a
May specialist research and development applications hub. With end-to-end capabilities including pilot plants, laboratories and tasting
2021
facilities, the new Kerry Australia and New Zealand Development and Application Centre in Brisbane increased Kerry’s R&D capacity
in the region.
Kerry expanded its plant protein range with applications across a number of food segments, including cookies, nutritional bars, and
ice creams, amid an expansion in healthier product markets. Using proteins from desirable plant sources, like pea, rice, and
June
Product Innovation sunflower, the company addressed the mounting need for organic, vegan, and traditional choices while at the same time offering
2020
great solubility, dispersibility, and neutral taste.
Kerry Group expanded its operation in Rome through a project worth USD 125 million. This expansion may double the production
March capacity of Kerry's food products, ingredients, and flavorings. The facility produces integrated taste and nutrition solutions to meet
Expansion
2020
the growing demand for poultry, seafood, and alternative proteins.

4.3.5 KERRY GROUP PLC - KEY DEVELOPMENTS
Kerry Group acquired the Dutch plant-based protein manufacturer, Ojah BV. The acquisition added Plenti as a soy-protein brand
April
Merger & Acquisition in Kerry's product portfolio.
2018

4.3.6 INGREDION INCORPORATED - GLOBAL OVERVIEW

5,987 M
ENCAPSULANTS AND EMULSIFIERS
EXTRACTS
FIBERS
OVERVIEW FLOURS
12,000
FRUITS AND VEGETABLES
Employees
Ingredion Inc. is a significant player in the specialty
FUNCTIONAL NATIVE STARCHES
food ingredients market.
GUMS AND HYDROCOLLOIDS
Its manufacturing process is mainly capital-
intensive, and the company focuses on the
necessities of various geographical markets during 1906 MODIFIED STARCHES
the production process to deliver innovative
Founded NUTRITIVE SWEETENERS
products.
NON-NUTRITIVE SWEETENERS
It serves a broad range of consumers in many
diverse industries, including food, beverage,
PLANT PROTEIN
pharmaceutical, and other industries.
ILLINOIS, UNITED STATES
POTATO STARCH
Headquarters
POLYOLS

4.3.6 INGREDION INCORPORATED - MARKET OVERVIEW
PLANT PROTEIN PLANT PROTEINS


The company offers pea protein, faba bean
protein, and lentil proteins of varying protein
concentrations, ranging from 55% to 85%, under KEY INFORMATION
its brand VITESSENCE®. These ingredients find a
wide range of applications, such as baked goods,
6
snacks, cereals, pasta, plant-based dairy, and Market Rank Ingredion has strategically invested over USD 200
alternative meats.
million to build its leadership in the consumer-
The protein products offered by Ingredion are preferred plant-based proteins market in the last two
clean label and gluten-free products, non-GMO,
years.
have the availability of organic options, and are
suitable for vegan products. 0.3 %
The company's VITESSENCE® Pulse pea protein
Market Share (2020)
isolates are produced from yellow peas and
processed without solvents like hexane, unlike many
commonly used soy proteins.
2.6 M USD

4.3.6 INGREDION INCORPORATED - KEY DEVELOPMENTS
Ingredion Inc. launched two new ingredients to its plant-based pea protein segment. It launched Vitessense pulse 1853 pea
April
Product Innovation protein isolate and Purity P 1002 pea starch, which are 100% sustainably sourced from North American farms.
2021
Ingredion Incorporated announced the completion of its rice manufacturing expansion in Banglen, Thailand. This was part of the
company’s planned ongoing investments to expand its specialty food ingredients business to support customers globally. The
July
Expansion investment in Thailand was driven by the fact that Thailand is one of the largest exporters of rice globally, which will enable
2020
Ingredion to fast-track its customers’ growth projects in the rice protein market.
Ingredion launched Vitessence Pulse 1803 as its first pea protein isolate in the pulse protein line, with 80% protein. It can be used
January
Product Innovation in various applications.
2020

4.3.7 ROQUETTE FRÈRE - GLOBAL OVERVIEW

4,143.5 M
BIOPHARMA
PHARMA & NUTRACEUTICALS
COSMETICS
OVERVIEW FOOD & NUTRITION

8,670
ANIMAL NUTRITION
Employees
Roquette Frères is a French company specializing
INDUSTRIAL MARKET
in producing plant-based raw materials, such as
maize, wheat, potatoes, peas, and microalgae.
NUTRALYS PLANT PROTEIN
The company is one of the major players in
specialty food ingredients and pharmaceutical 1933
excipients.
Founded
The company has a dedicated team of more than
300 employees focusing on innovation through a
considerable amount of R&D.
LESTREM, FRANCE
Headquarters

4.3.7 ROQUETTE FRÈRE - MARKET OVERVIEW
PLANT PROTEIN FOOD AND NUTRITION


Roquette manufactures a wide range of plant
protein solutions sourced from the yellow pea, faba
bean, wheat, corn, and potato. These ingredients KEY INFORMATION
COMPANY HIGHLIGHTS
are available in texturized and hydrolysate forms,
with the exception of pea protein, which is also
available in isolate form.
Roquette is a global leader in plant-based In 2019, the legal entity name change of Roquette
These find their applications in weight ingredients and a pioneer of new vegetal proteins. India Private Limited was completed as certified by
management products, sports nutrition, senior and the Indian Ministry of Corporate Affairs. This depicts
Through collaboration with customers & partners, it
clinical nutrition, dairy alternatives, meat
substitutes, and others. offers sustainable ingredients for food, nutrition & the company's commitment toward further
health markets. development in activities and investments in India.

4.3.7 ROQUETTE FRÈRE - PRODUCTS & SERVICES
The VITEN brand offers three variants of wheat gluten

TUBERMINE brand offers two variants of potato
VITEN protein, which find their major applications in the TUBERMINE
protein, primarily for animal nutrition.
animal nutrition industry.
NUTRALYS is a range of textured and regular wheat

protein ingredients and textured fava bean protein for The LYSAMINE brand offers pea protein for various
NUTRALYS® LYSAMINE
food industries, along with a pea protein variant for pet food, feed specialty, and aquafeed applications.
pet foods.
The GLUTALYS brand offers three variants of the corn

gluten protein solution that are majorly used in feed It is used for protein enrichment in various pet food
GLUTALYS TUBERMINE® GP
specialties, compound feed, on-farm feeding, and and feed specialties applications.
aquafeed.

4.3.8 CARGILL, INCORPORATED - GLOBAL OVERVIEW

114,600 M
AGRICULTURE
Cotton
Palm Oil
ANIMAL NUTRITION
OVERVIEW 155,000 BEAUTY
Employees
BIOINDUSTRIAL
Cargill Incorporated is a multinational company. It
has expertise in the manufacturing of food, FOOD & BEVERAGES
agricultural, and industrial products and services.
1865 Bakery
Bev-Alcoholic
The company provides solutions and innovations
for almost 60 industrial sectors across more than Founded Beverages
120 countries. Confectionery
Dairy
The company is carrying out R&D activities to
and others
produce ingredients based on cocoa, corn, and MINNEAPOLIS, UNITED
wheat. FOOD SERVICE
STATES INDUSTRIAL
Headquarters
CARBON SOLUTIONS

4.3.8 CARGILL, INCORPORATED - MARKET OVERVIEW
PLANT PROTEIN FOOD AND BEVERAGE


Cargill is involved in the plant protein market by
offering pea and wheat proteins. The company
manufactures and processes its own pea protein KEY INFORMATION
COMPANY HIGHLIGHTS
brand, such as PURIS™ pea protein, which is a
protein-packed, Non-GMO Project Verified, and
USDA Certified Organic.
It integrates 154 years of experience with new It has set up R&D centers in Minneapolis and
Radipure™ pea protein is a highly versatile technology and insights as a relied-on accomplice Shanghai to offer innovative food ingredients.
ingredient that can be used in dairy, ready-to-drink Moreover, the company has also acquired two
for food, agriculture, monetary, and commercial
beverages, bakery, and meat alternatives. It is the
latest addition to its plant protein offerings in the clients in more than 125 countries. It is also companies in Brazil and the United States to diversify
region. It was launched in the Asian market, constructing a sustainable solution for agriculture. into plant-based bioindustrials.
including India, in 2019.
The company partnered with Iowa Soybean
Association and Quantified Ventures to create the
Soil & Water Outcomes Fund.

4.3.8 CARGILL, INCORPORATED - PRODUCTS & SERVICES
Popular Brands Description
Radipure The Radipure is a pea protein range of Cargill Incorporated.

4.3.8 CARGILL, INCORPORATED - KEY DEVELOPMENTS
Cargill launched Radipure, a pea protein developed and manufactured in Asia, to support the ever-increasing Asian consumer
December
Product Innovation market and demand for plant-based proteins.
2019

Appendix
Appendix-1 References
Appendix-2 List Of Tables & Figures

REFERENCES
1. Jane Byrne, "Increased compund feed demand in India", Feed Navigator, June 11, 2018, https://www.feednavigator.com/Article/2018/06/11/Increased-compound-feed-demand-in-India
2. Dr. Santhosh K. Singh, "Grain and Feed Annual", Global Agricultural Information Network, March 16, 2018, https://apps.fas.usda.gov/newgainapi/api/report/downloadreportbyfilename?
filename=Grain%20and%20Feed%20Annual_New%20Delhi_India_3-16-2018.pdf
3. Cheryl Tay, "India focus: Local baby food brand seeking to fill organic gap in home market", Nutra Ingredients-Asia, March 20, 2019,https://www.nutraingredients-asia.com/Article/2019/03/20/India-focus-Local-
baby-food-brand-seeking-to-fill-organic-gap-in-home-market
4. Shampa Bahadur, "Sauces and dips get a boost as Indians cook more at home during pandemic lockdown", Indoasian Commodities, September 16, 2020,
https://www.indoasiancommodities.com/2020/09/16/sauces-and-dips-get-a-boost-as-indians-cook-more-at-home-during-pandemic-lockdown/
5. "Increasing geriatric population adding new trends in nutrition market", NuFFooDS Spectrum, October 02, 2020, https://www.nuffoodsspectrum.in/opinion/32/7282/increasing-geriatric-population-adding-new-
trends-in-nutrition-market.html
6. "A New Silver Lining To India’s Meat Market", redseer, December 2020, https://redseer.com/newsletters/a-new-silver-lining-to-indias-meat-market/
7. RTE/RTC, Food Processing India, https://foodprocessingindia.gov.in/sectors/RTE-RTC
8.Revati Krishna, "How India pays for fitness", Livemint,16 Mar 2019,https://www.livemint.com/money/personal-finance/how-india-pays-for-fitness-1552388405119.html
9. Joslyn Chittilapally, "Veganism in India, how the dairy-loving country is embracing a plant-based diet", Lifegate, December 27, 2019, https://www.lifegate.com/veganism-in-india
10. "India Sees Huge Growth in Vegan Options as Plant-Based Eating Continues to Rise", Vegconomist-the vegan business magazine, March 08, 2021, https://vegconomist.com/market-and-trends/india-sees-huge-
growth-in-vegan-options-as-plant-based-eating-continues-to-rise/

REFERENCES
11. Shoba Suri, "Can plant protein be the solution to India’s supply vs demand conundrum", February 27, 2021, https://www.orfonline.org/research/can-plant-protein-be-the-solution-to-indias-supply-vs-demand-
conundrum/
12. "Marking Nutrition Month, Right to Protein introduces Soy Fed in India", Livemint, September 08, 2021, https://www.livemint.com/brand-post/marking-nutrition-month-right-to-protein-introduces-soy-fed-in-
india-11631106136853.html
13. Aakanksha, "Trail Mixes, Shakes Or Sprinkles: We Love This Hemp Brand And You Sure Will Too!", Little Black Book, https://lbb.in/bangalore/india-hemp-co-hemp-products/
14. Guan Yu Lim, "Hemp Exports: India Hemp Organics opens up food and cosmetics trade with North America, Oceania and GCC", NutraIngredients, September 21, 2021, https://www.nutraingredients-
asia.com/Article/2021/09/21/Hemp-exports-India-Hemp-Organics-opens-up-food-and-cosmetics-trade-with-North-America-Oceania-and-GCC
15. "Potato milk, ‘climatarianism’ among top food trends of 2022, says report", The Indian Express, October 28, 2021, https://indianexpress.com/article/lifestyle/food-wine/potato-milk-climatarianism-top-food-
trends-2022-report-7593082/
16. Priya Menon, "New cheese on the block", The Times Of India, November 7, 2021, https://timesofindia.indiatimes.com/city/chennai/new-cheese-on-the-block/articleshow/87562435.cms
17. "Manufacturing Sector in India", India Brand Equity Foundation, December, 2021, https://www.ibef.org/industry/manufacturing-sector-india.aspx
18. "Right to Protein introduces 'Soy Fed Product' label in India", FoodTechBiz, September, 2021, https://www.foodtechbiz.com/packaging/right-to-protein-introduces-soy-fed-product-label-in-india
19. "Atulya introduces Veg Keratin products for hair care first time in India", The Print, May 07, 2021, https://theprint.in/ani-press-releases/atulya-introduces-veg-keratin-products-for-hair-care-first-time-in-
india/654493/
20. "Snacks rich in soy protein help teens control appetite", New Hope Network, December 07, 2021, https://www.newhope.com/nutrition/snacks-rich-soy-protein-help-teens-control-appetite

REFERENCES
21. Rita Aspen, "Cargill introduces Radipure™ pea protein for the Asia market", Cargill, December 3, 2019, https://www.cargill.co.in/en/2019/cargill-introduces-radipure%E2%84%A2-pea-protein-for-the-asia-market
22.Meenakshi Verma Ambwani, "Kellogg India sees jump in household consumption of breakfast cereals in Covid times", The Hindu, Business Line, August, 2021,
https://www.thehindubusinessline.com/companies/kellogg-india-sees-jump-in-household-consumption-of-breakfast-cereals-in-covid-times/article35836622.ece
23. "Grabenord launches plant-based mayo & sauce collection across India", WOOB, April 7, 2021, https://www.woob.in/grabenord-launches-plant-based-mayo-sauce-collection-across-india/
24. Preeti Singh, "Functional and Edible Uses of Soy Protein Products", Wiley Library, 2008, https://ift.onlinelibrary.wiley.com/doi/pdf/10.1111/j.1541-4337.2007.00025.x
25. Anoop Haridasan, "How Plant-Based Meat Brands are Disrupting the Indian Market", September, 2021, https://www.indianretailer.com/article/whats-hot/retail-trends/how-plant-based-meat-brands-are-
disrupting-the-indian-market.a7359/
26. Shashi Bhatia- , "Ready-To-Eat Food: Millennials’ new favourite", Progressive Grocer- India, January, 2020, https://www.indiaretailing.com/2020/01/22/food/food-grocery/ready-to-eat-food-millennials-new-
favourite/
27. Guan Yu Lim, "Plant-based infant formula: Else Nutrition adds India to IP portfolio in market access push", NutraIngredients, May 14, 2020, https://www.nutraingredients-asia.com/Article/2020/05/14/Plant-
based-infant-formula-Else-Nutrition-adds-India-to-IP-portfolio-in-market-access-push
28. Shahid Akhter, "Sports nutrition is still at a nascent stage in India: Vijayaraghavan Venugopal", ETHealthworld.com, May 20, 2019, https://health.economictimes.indiatimes.com/news/industry/sports-nutrition-is-
still-at-a-nascent-stage-in-india-vijayaraghavan-venugopal/69405902

REFERENCES
29. Tingmin Koe, "Setting the pace: Indian sports nutrition firm MuscleBlaze sees annual sales jump by 25%", NutraIngredients, January 16, 2020, https://www.nutraingredients-asia.com/Article/2020/01/16/Setting-
the-pace-Indian-sports-nutrition-firm-MuscleBlaze-sees-annual-sales-jump-by-25

LIST OF TABLES & FIGURES

1. ANIMAL FEED MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
2. BABY FOOD AND INFANT FORMULA MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
3. BAKERY MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
4. BEVERAGES MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
5. BREAKFAST CEREALS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
6. CONDIMENTS/SAUCES MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
7. CONFECTIONERY MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
8. DAIRY AND DAIRY ALTERNATIVE PRODUCTS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
9. ELDERLY NUTRITION AND MEDICAL NUTRITION MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
10. MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
11. PERSONAL CARE AND COSMETICS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
12. RTE/RTC FOOD PRODUCTS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
13. SNACKS MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026
14. SPORT/PERFORMANCE NUTRITION MARKET, VOLUME IN METRIC TONNES, INDIA, 2016 - 2026


15. INDIA PLANT PROTEIN PER CAPITA CONSUMPTION, IN GRAM, 2001 - 2026
16. INDIA PLANT PROTEIN RAW MATERIAL/COMMODITY PRODUCTION, VOLUME IN METRIC TONNES, 2011 - 2019
17. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY PROTEIN TYPE, 2016 - 2026
18. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY PROTEIN TYPE, 2016 - 2026
19. INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY PROTEIN TYPE, 2020
20. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, HEMP PROTEIN, 2016 - 2026
21. INDIA PLANT PROTEIN MARKET, VALUE IN USD, HEMP PROTEIN, 2016 - 2026
22. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, PEA PROTEIN, 2016 - 2026
23. INDIA PLANT PROTEIN MARKET, VALUE IN USD, PEA PROTEIN, 2016 - 2026
24. INDIA PLANT PROTEIN MARKET, PEA PROTEIN, VALUE SHARE (%), BY FORM, 2020
25. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, POTATO PROTEIN, 2016 - 2026
26. INDIA PLANT PROTEIN MARKET, VALUE IN USD, POTATO PROTEIN, 2016 - 2026
27. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, RICE PROTEIN, 2016 - 2026
28. INDIA PLANT PROTEIN MARKET, VALUE IN USD, RICE PROTEIN, 2016 - 2026


29. INDIA PLANT PROTEIN MARKET, RICE PROTEIN, VALUE SHARE (%), BY FORM, 2020
30. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, SOY PROTEIN, 2016 - 2026
31. INDIA PLANT PROTEIN MARKET, VALUE IN USD, SOY PROTEIN, 2016 - 2026
32. INDIA PLANT PROTEIN MARKET, SOY PROTEIN, VALUE SHARE (%), BY FORM, 2020
33. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, WHEAT PROTEIN, 2016 - 2026
34. INDIA PLANT PROTEIN MARKET, VALUE IN USD, WHEAT PROTEIN, 2016 - 2026
35. INDIA PLANT PROTEIN MARKET, WHEAT PROTEIN, VALUE SHARE (%), BY FORM, 2020
36. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, OTHER PLANT PROTEIN, 2016 - 2026
37. INDIA PLANT PROTEIN MARKET, VALUE IN USD, OTHER PLANT PROTEIN, 2016 - 2026
38. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY END USER, 2016 - 2026
39. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY END USER, 2016 - 2026
40. INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY END USER, 2020
41. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, ANIMAL FEED, 2016 - 2026
42. INDIA PLANT PROTEIN MARKET, VALUE IN USD, ANIMAL FEED, 2016 - 2026


43. INDIA PLANT PROTEIN MARKET, ANIMAL FEED, VALUE SHARE (%), BY PROTEIN TYPE, 2020
44. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, PERSONAL CARE AND COSMETICS, 2016 - 2026
45. INDIA PLANT PROTEIN MARKET, VALUE IN USD, PERSONAL CARE AND COSMETICS, 2016 - 2026
46. INDIA PLANT PROTEIN MARKET, PERSONAL CARE AND COSMETICS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
47. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY SUB END USER, 2016 - 2026
48. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY SUB END USER, 2016 - 2026
49. INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY SUB END USER, 2020
50. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BAKERY, 2016 - 2026
51. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BAKERY, 2016 - 2026
52. INDIA PLANT PROTEIN MARKET, BAKERY, VALUE SHARE (%), BY PROTEIN TYPE, 2020
53. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BEVERAGES, 2016 - 2026
54. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BEVERAGES, 2016 - 2026
55. INDIA PLANT PROTEIN MARKET, BEVERAGES, VALUE SHARE (%), BY PROTEIN TYPE, 2020
56. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BREAKFAST CEREALS, 2016 - 2026


57. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BREAKFAST CEREALS, 2016 - 2026
58. INDIA PLANT PROTEIN MARKET, BREAKFAST CEREALS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
59. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, CONDIMENTS/SAUCES, 2016 - 2026
60. INDIA PLANT PROTEIN MARKET, VALUE IN USD, CONDIMENTS/SAUCES, 2016 - 2026
61. INDIA PLANT PROTEIN MARKET, CONDIMENTS/SAUCES, VALUE SHARE (%), BY PROTEIN TYPE, 2020
62. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, CONFECTIONERY, 2016 - 2026
63. INDIA PLANT PROTEIN MARKET, VALUE IN USD, CONFECTIONERY, 2016 - 2026
64. INDIA PLANT PROTEIN MARKET, CONFECTIONERY, VALUE SHARE (%), BY PROTEIN TYPE, 2020
65. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, 2016 - 2026
66. INDIA PLANT PROTEIN MARKET, VALUE IN USD, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, 2016 - 2026
67. INDIA PLANT PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
68. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, 2016 - 2026
69. INDIA PLANT PROTEIN MARKET, VALUE IN USD, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, 2016 - 2026
70. INDIA PLANT PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, VALUE SHARE (%), BY PROTEIN TYPE, 2020


71. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, RTE/RTC FOOD PRODUCTS, 2016 - 2026
72. INDIA PLANT PROTEIN MARKET, VALUE IN USD, RTE/RTC FOOD PRODUCTS, 2016 - 2026
73. INDIA PLANT PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
74. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, SNACKS, 2016 - 2026
75. INDIA PLANT PROTEIN MARKET, VALUE IN USD, SNACKS, 2016 - 2026
76. INDIA PLANT PROTEIN MARKET, SNACKS, VALUE SHARE (%), BY PROTEIN TYPE, 2020
77. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BY SUB END USER, 2016 - 2026
78. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BY SUB END USER, 2016 - 2026
79. INDIA PLANT PROTEIN MARKET, VALUE SHARE (%), BY SUB END USER, 2020
80. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, BABY FOOD AND INFANT FORMULA, 2016 - 2026
81. INDIA PLANT PROTEIN MARKET, VALUE IN USD, BABY FOOD AND INFANT FORMULA, 2016 - 2026
82. INDIA PLANT PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, VALUE SHARE (%), BY PROTEIN TYPE, 2020
83. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, ELDERLY NUTRITION AND MEDICAL NUTRITION, 2016 - 2026
84. INDIA PLANT PROTEIN MARKET, VALUE IN USD, ELDERLY NUTRITION AND MEDICAL NUTRITION, 2016 - 2026


85. INDIA PLANT PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, VALUE SHARE (%), BY PROTEIN TYPE, 2020
86. INDIA PLANT PROTEIN MARKET, VOLUME IN METRIC TONNES, SPORT/PERFORMANCE NUTRITION, 2016 - 2026
87. INDIA PLANT PROTEIN MARKET, VALUE IN USD, SPORT/PERFORMANCE NUTRITION, 2016 - 2026
88. INDIA PLANT PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, VALUE SHARE (%), BY PROTEIN TYPE, 2020
89. MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2016-2021
90. MOST ADOPTED STRATEGIES, 2016-2021
91. INDIA PLANT PROTEIN MARKET, MARKET SHARE, 2020

KEY STRATEGIC QUESTIONS FOR PROTEINS CEOs
MARKETS & CONSUMERS ROUTE TO MARKET VALUE PROPOSITION
How to maintain and acquire key accounts How to ensure consumer retention and How to identify and focus on potential fast
with significant consumption volume? enhance the existing sales channel? growing segements?
How to align with the changing regulatory How to leverage e-commerce to reach out How to sustain profitability in a rapidly
norms and consumer requirements? to B2B consumers? changing market scenario?
How to increase and strengthen presence How to reach out to multi-brand and How to prove credibility and quality in an
in emerging markets? exclusive distributors? increasingly competitive market?
Mordor Intelligence's customized consulting solution can help you provide answers to these questions, based on your company internal strategy.
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2 KEY INDUSTRY TRENDS 3.2.3.4 Condiments/Sauces

3.1 By Protein Type 3.2.4.1 Baby Food and Infant Formula

3.1.1 Hemp Protein 3.2.4.2 Elderly Nutrition and Medical Nutrition

3.1.2 Pea Protein 3.2.4.3 Sport/Performance Nutrition

3.1.3 Potato Protein 4 COMPETITIVE LANDSCAPE

2 INDIA PLANT PROTEIN MARKET

LARGEST PROTEIN TYPE LARGEST END USER

Value Share, Soy Protein, Value Share, Food And

4.98% 7.21% 7.08%

3 INDIA PLANT PROTEIN MARKET

1.2 Scope Of The Study​

1.3 Research Methodology

4 INDIA PLANT PROTEIN MARKET

5 INDIA PLANT PROTEIN MARKET

1.2 SCOPE OF THE STUDY​

BY PROTEIN TYPE BY END USER

-------- HEMP PROTEIN -------- ANIMAL FEED

-------- PEA PROTEIN -------- PERSONAL CARE AND COSMETICS

-------- POTATO PROTEIN -------- FOOD AND BEVERAGES

-------- RICE PROTEIN -------- SUPPLEMENTS

-------- SOY PROTEIN

-------- WHEAT PROTEIN

-------- OTHER PLANT PROTEIN

6 INDIA PLANT PROTEIN MARKET

7 INDIA PLANT PROTEIN MARKET

2.2 Per Capita Plant Protein

2.3 Raw Material/Commodity

2.4 Regulatory Framework

2.5 Value Chain & Distribution Channel

8 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

Volume YOY(%) Volume YOY(%)

9 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

Volume YOY(%) Volume YOY(%)

10 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

Volume YOY(%) Volume YOY(%)

11 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

4M -18 % 40M -12 %

Volume YOY(%) Volume YOY(%)

12 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

Volume YOY(%) Volume YOY(%)

13 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

Volume YOY(%) Volume YOY(%)

14 INDIA PLANT PROTEIN MARKET

2.1 END USER MARKET

Volume YOY(%) Volume YOY(%)

15 INDIA PLANT PROTEIN MARKET

2.2 PER CAPITA PLANT PROTEIN CONSUMPTION

16 INDIA PLANT PROTEIN MARKET

2.3 RAW MATERIAL/COMMODITY PRODUCTION

17 INDIA PLANT PROTEIN MARKET

2.4.1 REGULATORY FRAMEWORK

LABELING APPROVAL PROCESS

18 INDIA PLANT PROTEIN MARKET

1.2 Scope Of The Study

1.2 SCOPE OF THE STUDY

Kerry Group PLC 1 1 1 1 Product Innovation