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As of 2022, the plant-based dairy segment had the highest market share of about ** percent among the plant-based food sector in India. In comparison, the plant-based meat market share was over ** percent.

Market outlook

The plant-based food market offers alternatives like plant-based meat, dairy, and eggs, mimicking the taste and texture of animal-based products but made from plant products like soy, beans, and chickpeas. With more Indians choosing plant-based options, the plant-based food market is expected to exceed a billion U.S. dollars by 2030. Furthermore, the evolving landscape of this market has drawn significant investments from companies eager to capitalize on the growing trend.

Consumer preferences

In India, consumer preferences are shifting towards plant-based foods, as revealed by a recent survey. The majority of respondents cite concerns for animal welfare in food production and a desire to embrace a vegetarian or vegan diet as motivating factors. However, some express uncertainty about the ingredients in plant-based alternatives compared to their traditional counterparts.