India: Burgeoning Market for Plant-based Meat Substitutes

A large vegetarian population and greater demand for healthy foods are fueling the rapid expansion of plant-based meat substitutes in India. While the concept of plant-based meats is new to the country, consumers are highly receptive towards this product category. As a result, a growing number of domestic manufacturers and foreign suppliers are penetrating this market to deliver this high-value product for which consumers are willing to pay a premium. India’s plant-based meat industry has developed various joint ventures between Indian firms and international food processors, who are developing innovative meat substitutes derived from pulses, soybeans, wheat, potato, and other plant-based ingredients. Opportunities for U.S. exporters exist in both consumer-oriented products, and raw materials to support local manufacturers.