India Plant-based Meat Alternatives Market Report 2023

EXECUTIVE SUMMARY

• Key issues covered in this Report
• Graph 1: select reasons for not consuming plant-based/mock meat products in the last twelve months, 2023
• Graph 2: select reasons for consuming plant-based meat/mock meat in the last twelve months, 2023
• Graph 3: select top three plant-based meat formats/products that consumers would be interested to consume, 2023

KEY TRENDS AND MARKET FACTORS

• Indians are taking proactive measures towards better health
• Graph 4: life expectancy at birth, 2000-21
• Graph 5: % consumers who eat non-vegetarian foods, 2022
• Graph 6: % of consumers who agree that eating plant-based food can help reduce the risk of disease, by generation, 2022
• Graph 7: spending priority for plant-based proteins*, 2023
• Plant-based alternatives are still nascent in India
• Graph 8: % food & drink launches with select claims, 2019-22
• Graph 9: meat substitute launches*, 2018-23
• Graph 10: % meat substitute launches with select claims, 2021-23
• Affordability is key to democratise healthy eating
• Graph 11: factors of concern over the next six months*, 2023
• Graph 12: consumers who agree that they have a budget that they try to stick to as much as possible**, 2023
• Graph 13: factors that would encourage purchase of plant-based meat products/mock meat among plant-based meat consumers, 2023

WHAT CONSUMERS WANT AND WHY

• The current state of plant-based meat in India
• Graph 14: consumption of plant-based meat in the last twelve months, by food habit, 2023
• Graph 15: reasons for not consuming plant-based/mock meat products in the last twelve months, 2023
• Graph 16: consumers citing endorsement by a favourite celebrity as a reason for consuming plant-based meat, by region, 2023
• What can boost growth for plant-based meat in India?
• Graph 17: reasons for consuming plant-based meat/mock meat in the last 12 months, 2023
• Graph 18: select plus, minus and functional claims in the meat substitutes category, 2020-2023
• Graph 19: consumers who cite maintaining a healthy weight as a reason for consuming plant-based meat, by region, 2023
• Graph 20: select plus, minus and functional claims in the meat substitutes category, 2020-2023
• Graph 21: consumer agreement that their diet does not fulfil daily protein requirement, by financial status and age of plant-based meat consumers, 2023
• Graph 22: consumers who cite want to increase their protein intake as a reason for consuming plant-based meat, by socioeconomic group and eating habit, 2023
• Graph 23: % of meat substitute launches with select sources of protein, 2022-23
• Graph 24: % of meat substitute launches with a high/added protein claim, 2020-23
• Graph 25: select plant-based protein ingredients used in meat substitutes, 2020-23
• Graph 26: select plant-based protein ingredients used in meat substitutes, by region, 2020-23
• Graph 27: factors that would encourage plant-based meat consumers to purchase plant-based meat/mock meat products, 2023
• Formats of interest in the plant-based meat category
• Graph 28: 'novel formats' as a factor that would encourage plant-based meat consumers to purchase plant-based meat/mock meat products, by region, 2023
• Graph 29: consumers citing wanting to try out new food innovations as a reason for consuming plant-based meat, by region and gender, 2023
• Graph 30: top three plant-based meat formats/products that consumers would be interested to consume, 2023
• Graph 31: % of plant-based meat consumers interested in raw plant-based meat chunks that can be cooked at home, by parental status, 2023
• Graph 32: % of plant-base meat consumers interested in plant-based chicken soup, by socioeconomic group and age, 2023
• Reduction vs addition approach for adoption of plant-based meat alternatives
• Graph 33: agreement with select statements about meat and plant-based meat, 2023
• Graph 34: select reasons for not consuming plant-based meat products, 2023

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