India Protein-Based Product Market

Market Overview:

The India protein-based product market size reached INR 33,028.5 Crores in 2023. Looking forward, IMARC Group expects the market to reach INR 1,28,460.5 Crores by 2032, exhibiting a growth rate (CAGR) of 15.8% during 2024-2032. The growing awareness about health and wellness among consumers, the rising vegetarian and vegan population, and the escalating demand for fitness and sports nutrition products among athletes and fitness enthusiasts represent some of the key factors driving the market.

Protein-based products are food and beverage items that contain a significant amount of protein as a key component. These products are specifically formulated to provide a high protein content, which is beneficial for various purposes, including muscle building, athletic performance, satiety, and overall nutrition. Some commonly used protein-based products are protein bars, powders, supplements, drinks, ice creams, cereals, and protein-rich snacks. They also offer several health benefits, including lower saturated fat and cholesterol content, and are gaining immense popularity among individuals for increasing their protein intake. In addition, they have a higher satiety value compared to carbohydrates and fats and can be incorporated into weight management plans to promote feelings of fullness, reduce cravings, and support healthy weight loss or maintenance. Moreover, these products serve as essential protein sources for individuals following vegetarian or vegan diets, as they offer plant-based protein alternatives to animal-derived sources. They can also assist in preserving muscle mass and preventing muscle loss associated with aging and certain medical conditions. As a result, protein-based products are widely consumed by individuals across India. 

India Protein-based Product Market Trends:

The market is primarily driven by the increasing awareness among consumers about the importance of a healthy lifestyle and the role of protein in maintaining overall health. Nowadays, with rising disposable incomes and changing dietary preferences, more people are seeking protein-based products to support their fitness goals, muscle recovery, weight management, and overall well-being. In addition, the rising number of gyms, fitness centers, and sporting events across the country represents another major growth-inducing factor. At present, fitness enthusiasts, athletes, and individuals engaged in regular exercise routines are widely adopting protein-based products to gain adequate nutrition. Besides this, protein-based products derived from plant sources, such as soy, pea, and rice, are gaining popularity as alternatives to animal-based proteins as the result of the increasing vegetarian and vegan population due to cultural, religious, and ethical reasons. Moreover, rapid urbanization and changing lifestyles have led to an increased reliance on convenient and ready-to-consume food options. Protein-based products like protein bars, shakes, and snacks offer a convenient and nutritious solution for busy individuals with limited time for meal preparation. Additionally, the introduction of innovative protein-based products in new flavors, formats, and formulations and gluten-free, organic, low-sugar, or high-fiber variants is also propelling the market growth. Furthermore, the rising disposable incomes of consumers and the easy product availability on e-commerce platforms are also contributing to market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the India protein-based product market, along with forecasts at the regional level from 2024-2032. Our report has categorized the market based on the type.

Type Insights:

• Animal and Dairy Protein
  • Processed Chicken
  • Whey Protein
  • Cheese
  • Processed Fish
  • Casein Protein
  • Egg Protein
• Plant Protein
  • Soy
  • Pea
  • Rice
• Blended Protein
   

The report has provided a detailed breakup and analysis of the India protein-based product market based on the type. This includes animal and dairy protein (processed chicken, whey protein, cheese, processed fish, casein protein, and egg protein), plant protein (soy, pea, and rice), and blended protein. According to the report, animal and dairy protein represented the largest segment.

Regional Insights:

• South India
• North India
• West & Central India
• East India
   

The report has also provided a comprehensive analysis of all the major regional markets, which include South India, North India, West and Central India, and East India. According to the report, South India was the largest market for protein-based products. Some of the factors driving the protein-based product market in South India included the rising health consciousness among the masses, the escalating demand for sport nutritious products, and the increasing vegan population.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the India protein-based product market. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Bio Nutrients (India) Pvt. Ltd., Glanbia Performance Nutrition (India) Pvt. Ltd., Hershey India Pvt. Ltd., MuscleBlaze, MyProtein, Nestle India, Patanjali Foods Ltd (Patanjali Ayurved), Rite Bite Max Protein (Naturell India Pvt. Ltd), Urban Platter, Taali Foods India, Nourish Organic Foods Pvt. Ltd., GetmyMettle (Swashthum Wellness Pvt Ltd.), Plantvita, Myfitness, Gooddot, Plantaway, Wakao Foods, Xterra Nutrition, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the India protein-based product market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the India protein-based product market?
• What is the impact of each driver, restraint, and opportunity on the India protein-based product market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the India protein-based product market?
• What is the competitive structure of the India protein-based product market?
• Who are the key players/companies in the India protein-based product market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India protein-based product market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the India protein-based product market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India protein-based product industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.