India Meat Substitutes Market, By Product Type ; By Source ; By Price ; By Distribution Channel ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030

List of Tables

India Meat Substitutes Market Size Expands at Significant CAGRs to Surpass USD 56.75 Million and Volume of 3,933 Tons by 2030

India Meat Substitutes Market is flourishing due to the rising health awareness, growing vegetarian population, environmental concerns, and increasing disposable income.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Meat Substitutes Market size by value at USD 41.52 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Meat Substitutes Market size to expand at a CAGR of 7.87% reaching a value of USD 56.75 million by 2030. Meat Substitutes Market in India is propelled by the increasing adoption of plant-based innovative food products. In a predominantly vegetarian market, religious beliefs significantly influence the preference for vegetarian over meat products in India. The COVID-19 pandemic has further intensified this inclination towards vegetarian and vegan choices, especially among traditional meat consumers, fostering a heightened interest in plant-based meat alternatives. The market expansion is fueled by the growing appeal of healthier, sustainable, and cruelty-free options, with high-income consumers driving this trend. Ethical consumerism and environmental awareness contribute to the demand for plant-based meat products, while increased consciousness regarding the environmental impact of meat production prompts eco-conscious consumers to limit or avoid meat consumption. Key market players are proactively responding to this shift by introducing a variety of plant-based offerings that replicate taste, texture, and nutritional profiles, reflecting the evolving preferences of Indian consumers. An example is CCL's recent launch of high-protein plant-based meat alternatives, branded as "Continental Greenbird," strategically capitalizing on the evolving mindful eating choices in the market.

By volume, BlueWeave estimated the India Meat Substitutes Market size at 2,721 tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Meat Substitutes Market size by volume is projected to grow at a CAGR of 6.75% reaching the volume of 3,933 tons by 2030.

Impact of Escalating Geopolitical Tensions on India Meat Substitutes Market

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

India Meat Substitutes Market

Segmental Information

India Meat Substitutes Market - By Source

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

Competitive Landscape

The India Meat Substitutes Market is fragmented, with numerous players serving the market. The key players dominating the India Meat Substitutes Market include Blue Tribe Foods, Imagine Meats, Beyond Meat, Tata Consumer Products, CCL Products, GREENEST, ITC Limited, Veggie Champ, Vezlay Foods Pvt Ltd, Ahimsa Food, Shaka Harry, BVeg Foods, and GoodDot. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Meat Substitutes Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Meat Substitutes Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC24219

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. India Meat Substitutes Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Rising health awareness
  - 3.2.1.2. Growing vegetarian population
  - 3.2.1.3. Environmental concerns
  - 3.2.1.4. Increasing disposable income
- 3.2.2. Restraints
  - 3.2.2.1. Price sensitivity
  - 3.2.2.2. Unrealistic taste and texture
  - 3.2.2.3. Limited availability
  - 3.2.2.4. Lack of awareness
- 3.2.3. Opportunities
  - 3.2.3.1. Expansion of distribution channels
  - 3.2.3.2. Targeting specific consumer segments
  - 3.2.3.3. Diversification of product offerings
- 3.2.4. Challenges
  - 3.2.4.1. Competition from established meat industry
  - 3.2.4.2. Misinformation and skepticism
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. India Meat Substitutes Market: Marketing Strategies

5. India Meat Substitutes Market Overview

5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Million)
- 5.1.2. By Volume (Hundred tons)
5.2. Market Share & Forecast
- 5.2.1. By Product Type
  - 5.2.1.1. Textured Vegetable Protein
  - 5.2.1.2. Soy-based products
  - 5.2.1.3. Wheat-based products
  - 5.2.1.4. Pea protein-based
  - 5.2.1.5. Mushroom-based
  - 5.2.1.6. Other plant-based proteins
- 5.2.2. By Source
  - 5.2.2.1. Plant-based
  - 5.2.2.2. Lab-grown
  - 5.2.2.3. Others
- 5.2.3. By Price
  - 5.2.3.1. Premium
  - 5.2.3.2. Mid-Range
  - 5.2.3.3. Economy
- 5.2.4. By Distribution Channel
  - 5.2.4.1. Supermarkets and Hypermarkets
  - 5.2.4.2. Convenience Stores
  - 5.2.4.3. Online
- 5.2.5. By Region
  - 5.2.5.1. North India
  - 5.2.5.2. South India
  - 5.2.5.3. East India
  - 5.2.5.4. West India

6. North India Meat Substitutes Market

6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.1.2. By Volume (Hundred tons)
6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Source
- 6.2.3. By Price
- 6.2.4. By Distribution Channel

7. South India Meat Substitutes Market

7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.1.2. By Volume (Hundred tons)
7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Source
- 7.2.3. By Price
- 7.2.4. By Distribution Channel

8. East India Meat Substitutes Market

8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
- 8.1.2. By Volume (Hundred tons)
8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Source
- 8.2.3. By Price
- 8.2.4. By Distribution Channel

9. West India Meat Substitutes Market

9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
- 9.1.2. By Volume (Hundred tons)
9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Source
- 9.2.3. By Price
- 9.2.4. By Distribution Channel

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. India Meat Substitutes Company Market Share Analysis, 2023
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Escalating Geopolitical Tensions on India Meat Substitutes Market

12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

12.1. Blue Tribe Foods
12.2. Imagine Meats
12.3. Beyond Meat
12.4. Tata Consumer Products
12.5. CCL Products
12.6. GREENEST
12.7. ITC Limited
12.8. Veggie Champ
12.9. Vezlay Foods Pvt Ltd
12.10. Ahimsa Food
12.11. Shaka Harry
12.12. BVeg Foods
12.13. GoodDot
12.14. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations

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

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

Product Code: BWC24219

List of Figures

Figure 1 India Meat Substitutes Segmentation
Figure 2 India Meat Substitutes Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Figure 5 India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Figure 6 India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Figure 7 India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Figure 8 India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Figure 9 India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Figure 10 India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Figure 11 India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Figure 12 India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Figure 13 India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Figure 14 India Meat Substitutes Market Share, By Region, By Value, 2019-2030
Figure 15 India Meat Substitutes Market Share, By Region, By Volume, 2019-2030
Figure 16 North India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Figure 17 North India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Figure 18 North India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Figure 19 North India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Figure 20 North India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Figure 21 North India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Figure 22 North India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Figure 23 North India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Figure 24 North India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Figure 25 North India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Figure 26 South India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Figure 27 South India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Figure 28 South India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Figure 29 South India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Figure 30 South India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Figure 31 South India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Figure 32 South India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Figure 33 South India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Figure 34 South India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Figure 35 South India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Figure 36 East India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Figure 37 East India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Figure 38 East India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Figure 39 East India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Figure 40 East India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Figure 41 East India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Figure 42 East India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Figure 43 East India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Figure 44 East India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Figure 45 East India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Figure 46 West India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Figure 47 West India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Figure 48 West India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Figure 49 West India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Figure 50 West India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Figure 51 West India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Figure 52 West India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Figure 53 West India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Figure 54 West India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Figure 55 West India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030

List of Tables

Table 1 India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Table 2 India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Table 3 India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Table 4 India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Table 5 India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Table 6 India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Table 7 India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Table 8 India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Table 9 India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Table 10 India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Table 11 India Meat Substitutes Market Share, By Region, By Value, 2019-2030
Table 12 India Meat Substitutes Market Share, By Region, By Volume, 2019-2030
Table 13 North India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Table 14 North India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Table 15 North India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Table 16 North India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Table 17 North India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Table 18 North India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Table 19 North India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Table 20 North India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Table 21 North India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Table 22 North India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Table 23 South India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Table 24 South India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Table 25 South India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Table 26 South India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Table 27 South India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Table 28 South India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Table 29 South India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Table 30 South India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Table 31 South India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Table 32 South India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Table 33 East India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Table 34 East India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Table 35 East India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Table 36 East India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Table 37 East India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Table 38 East India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Table 39 East India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Table 40 East India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Table 41 East India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Table 42 East India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Table 43 West India Meat Substitutes Market Size, By Value (USD Million), 2019-2030
Table 44 West India Meat Substitutes Market Size, By Volume (Hundred tons), 2019-2030
Table 45 West India Meat Substitutes Market Share, By Product Type, By Value, 2019-2030
Table 46 West India Meat Substitutes Market Share, By Product Type, By Volume, 2019-2030
Table 47 West India Meat Substitutes Market Share, By Source, By Value, 2019-2030
Table 48 West India Meat Substitutes Market Share, By Source, By Volume, 2019-2030
Table 49 West India Meat Substitutes Market Share, By Price, By Value, 2019-2030
Table 50 West India Meat Substitutes Market Share, By Price, By Volume, 2019-2030
Table 51 West India Meat Substitutes Market Share, By Distribution Channel, By Value, 2019-2030
Table 52 West India Meat Substitutes Market Share, By Distribution Channel, By Volume, 2019-2030
Table 53 Blue Tribe Foods Company Overview
Table 54 Blue Tribe Foods Company Overview
Table 55 Imagine Meats Company Overview
Table 56 Imagine Meats Company Overview
Table 57 Beyond Meat Company Overview
Table 58 Beyond Meat Company Overview
Table 59 Tata Consumer Products Company Overview
Table 60 Tata Consumer Products Company Overview
Table 61 CCL Products Company Overview
Table 62 CCL Products Company Overview
Table 63 GREENEST Company Overview
Table 64 GREENEST Company Overview
Table 65 ITC Limited Company Overview
Table 66 ITC Limited Company Overview
Table 67 Veggie Champ Company Overview
Table 68 Veggie Champ Company Overview
Table 69 Vezlay Foods Pvt. Ltd. Company Overview
Table 70 Vezlay Foods Pvt. Ltd. Company Overview
Table 71 Ahimsa Food Company Overview
Table 72 Ahimsa Food Company Overview
Table 73 Shaka Harry Company Overview
Table 74 Shaka Harry Company Overview
Table 75 BVeg Foods Company Overview
Table 76 BVeg Foods Company Overview
Table 77 GoodDot Company Overview
Table 78 GoodDot Company Overview
Table 79 Other Prominent Players Company Overview
Table 80 Other Prominent Players Company Overview

India Meat Substitutes Market, By Product Type ; By Source ; By Price ; By Distribution Channel ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030

Description

Table of Contents

List of Tables

Table of Contents

1. Research Framework

2. Executive Summary

3. India Meat Substitutes Market Insights

4. India Meat Substitutes Market: Marketing Strategies

5. India Meat Substitutes Market Overview

6. North India Meat Substitutes Market

7. South India Meat Substitutes Market

8. East India Meat Substitutes Market

9. West India Meat Substitutes Market

10. Competitive Landscape

11. Impact of Escalating Geopolitical Tensions on India Meat Substitutes Market

12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

13. Key Strategic Recommendations

14. Research Methodology

List of Figures

List of Tables