Plant-based meats go mainstream in India with ITC’s launch

06 January 2022

Although home to a comparatively large section of vegetarians, India still has a huge population of meat-eaters or “non-vegetarians” as they are called. Growing awareness of animal cruelty, environmental impact, and health concerns have been beaconing Indian meat-eaters to think of alternatives to their conventional flesh-based foods. A sudden surge in plant-based meat analog start-ups is evidence of this growing need for alternatives. Startups like Ritesh and Genelia Deshmukh’s Imagine meats and Sandeep Singh’s Blue Tribe Foods among many others are testing the huge potential of the plant-based meat market of India. 

The plant-based meat story however is now growing beyond startups. Following the footsteps of global meant companies like JBS, Tyson Foods, Nestle, and Unilever, India’s most powerful FMCG conglomerate ITC has announced the launch of plant-based meat products. ITC Ltd is the manufacturer of many household brands like Aashirvaad atta (wheat flour) and is the choice of Indians all over the world for packaged ready-to-eat versions of heritage dishes such as daal makhani and paneer tikka. Their entry into the plant-based space is therefore likely to make an impact not just domestically, but in the huge export market as well.

ITC Limited’s food business will launch plant-based burger patties and nuggets providing the taste of chicken to consumers through retail, e-commerce, and foodservice establishments in the country’s top 8 cities. 

“There is no large pan-Indian brand in the plant-based protein segment in India. We have worked with some global partners to ensure there is no compromise either on the product texture, quality, and taste. We want to enjoy the early mover advantage in India. The meat market is huge with 72% of Indians being non-vegetarians and [the market] is estimated today at $45 billion. Given the growing concerns around wellness and sustainability, India has the potential to emerge as a large market for plant-based alternatives.” - Hemant Malik, Divisional Chief Executive - Foods, ITC Ltd.

Globally, startups like Impossible Foods and Beyond Meat have raised hundreds of millions of dollars, gone public on the stock market, and scaled across the globe, while using just a small fraction of the land, water, and energy that their conventional animal meat counterparts require - all with lower greenhouse gas emissions and without the risk of zoonotic disease or antimicrobial resistance. These factors are also a big concern for Indians as demonstrated by GFI India's research indicating 63% of non-vegetarians among urban, upwardly-mobile populations who are extremely likely to purchase plant-based meats regularly, driven by guilt around meat-eating as well as curiosity and aspiration surrounding next-generation plant-based meat products.

ITC gains the first-mover advantage in this fertile market with major multi-billion dollar opportunities provided by a woke and compassionate consumer.

Also read: Breaking: KFC to launch Beyond Fried Chicken across all of the U.S.

Read more: New Vegan Ice Cream Debuts In Over 700 Walmart Stores