BVeg And AAK Collaborate To Innovate And Develop Plant-Based Meat Alternatives For India

24th June, 2022

BVeg, a leader in India’s plant-based food processing sector has inked a strategic MoU with AAK, India’s largest manufacturer of specialty oils and fats.

The collaboration will push for innovation toward developing improved plant-based meat alternatives for the Indian market.

PLANT-BASED ALTERNATIVES IN INDIA

India has a rapidly growing dynamic market for plant-based alternatives with over 63% of consumers willing to try plant-based options as per a survey done by Kerry.

Global statistics have been pointing towards a huge shift to sustainable alternatives for a while. The pandemic further pushed the interest in switching to healthier animal-free foods.

A study by retail broking company Nirmal Bang in September 2021, the PBM (plant-based meat) market in India is estimated at $30-40 million. This is primarily driven by the sales of packaged foods and additionally a small share by HORECA (Hotel Restaurant Catering).

The same report also predicted that the Indian market size will touch $500 million by 2024 driven by a similar demand.

It also found that even though consumption of plant-based alternatives seems to be a metro-centric behaviour, there were enough number of open-minded consumers purchasing these alternatives in interior areas of the country.

With India slated to follow international growth trends for this sector, it is up to entrepreneurs and conglomerates to leverage science and technology to meet the growing demand for plant-based alternatives.

BVEG AND AAK’S PARTNERSHIP

BVeg has the capacity to produce 4000 tonnes of plant proteins in a year, making it India’s largest plant-based food processing facility.

The objective of the partnership is for both companies to be able to develop plant-based products for the growing market in India and abroad.

The affiliation will allow BVeg and AAK to share latest market trends and innovations in the plant-based sector. It will also allow knowledge sharing between the two companies to create products from a variety of different plant-based options that meet the taste and texture needs of Indian and international markets.

It also makes room for both businesses to network with changemakers, scientists, entrepreneurs, policymakers and investors to advance the plant-based industry in India.

Speaking of the partnership, Jurgen Kennedy, Business Development Director, Plant-based foods at AAK Asia, said, “As AAK we harness over 150 years of experience in plant-based oils and fats so people who choose a plant-based lifestyle can enjoy the foods they love without compromise. We are committed to a long-term journey towards sustainable, healthy plant-based food choices – a journey we are taking with our customers through co-development and strategic partnerships.”

“India is at a nascent market for plant-based foods. People should be able to enjoy healthy, sustainable plant-based foods without sacrificing taste and texture. We’re delighted to have this opportunity and hope to work with BVeg Foods to create great-tasting products made with love for people, plants and the planet,” said Dheeraj Talreja, President, South Asia, at AAK.

WHAT THE FUTURE HOLDS

Just recently, Bveg inked a pact with the Swiss Multinational Bühler Group to bring their coveted high moisture extrusion machine to India to produce textured meat alternatives at their plant.

With an aim to constantly be on top of the plant-based meat alternative market through strategic collaborations like these, Bveg plans to develop an advanced production facility to transform the ecosystem with perfected plant-based products.

“Globally there is a shift towards plant-based. At BVeg Foods, we urge companies, entrepreneurs, HORECA and QSRs to join the bandwagon using our complete end-to-end solutions – from product development and co-manufacturing to private label packaging.  We believe in the synergies of collaboration by bringing together specialists to ensure that everyone’s talents, specialties and expertise, merge together to form a brilliant end-product. This strategic understanding between AAK and BVeg foods will provide us an opportunity to co-develop products in the near future,” noted Prateek Ghai, Co-Founder and COO, BVeg Foods.

Like this? Read: BVeg Teams Up With Swiss Multinational Bühler Group To Bolster Plant-Based Meat Production In India

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