Market Trends of india protein Industry
This section covers the major market trends shaping the India Protein Market according to our research experts:
Food and Beverages is the largest End User
- The food and beverage segment led protein applications in the region, accounting for a major volume share. The segment is further projected to record a CAGR value of 6.38% during the forecast period. The demand for protein in the food and beverage segment is primarily driven by the increasing demand for protein functionalities and awareness about protein-rich diets. The meat/poultry/seafood and meat alternatives products sub-segment accounted for a major volume share of 31.47%, followed by the dairy and dairy alternative products segment, with 23.2%, in 2022.
- Applications in the baby food and infant formula sub-segment are likely to outpace others, with a projected CAGR value of 8.74% during the forecast period. The rising public awareness of children's nutrition and ideal development can be linked to the expansion of baby food items, which are popular among consumers to give infants and young children extra vitamins to boost their immunity and overall health. The Indian government launched the National Health Mission with the aim to make healthcare affordable and accessible to everyone, aligning with the United Nations' Sustainable Development Goal 3 (Good Health and Well-Being).
- The supplements segment is mainly driven by sports/performance nutrition, projected to record a CAGR value of 4.51% during the forecast period, attributed to the rising consumer engagement in sports and physical activities. Around two lakh new gyms have been opened in the past two years, supported by increasing interest in sports leagues, such as the Chinese Super League and Indian Premier League, which provide a solid platform for the development of sports nutrition and associated ingredients markets.
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