Proteins are one of the most important macronutrients required by the body. Over the past year, we have seen higher protein consumption and also a move towards clean and plant-based proteins.
The pandemic has triggered a natural shift towards a healthier and vegetarian diet due to the various health benefits involved. Secondly, the growing level of awareness about the benefits of a plant-based lifestyle across the world has unanimously resulted in the spread of veganism and vegetarianism.
With more numbers of consumers becoming aware about the benefits of vegetarian and vegan proteins, we are seeing a positive shift in the adoption of this category. According to a report by Market Research Future (MRFR), the plant-based food industry is expected to grow at a CAGR of 10.20% and is anticipated to touch USD 37981.6 million in annual revenue by 2027.
The plant-based protein market is expected to grow at a CAGR of 8.6% and reach $565.1 million by 2023 as per Research and Markets report. While the majority of Indian population are vegetarians or flexitarians, there is also a large chunk of the audience who are moving to plant-based diets and incorporating clean and whole foods in their diets due to the positive impact these have on overall wellbeing.
For example, plant-based diets are better absorbed by the body; they are easier to digest and do not cause any harm in the long run as they are derived from 100% natural ingredients.
GROWTH OF PLANT-BASED PROTEINS
There are various factors contributing to the growth of this category. Consumers are highly aware about the benefits of consuming plant-based proteins and are actively seeking for options that can replace traditional non-vegetarian or animal based options.
This story is from the May 2021 edition of Progressive Grocer.
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This story is from the May 2021 edition of Progressive Grocer.
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