India stands at a vantage point for plant-based foods: study
The HinduThe global plant-based food market is expected to reach $162 billion by 2030, up from $29.4 billion in 2020 with a CAGR of 18.60% from 2020 to 2030, according to a joint report by Plant Based Foods Industry Association and EY India. India stood at a vantage point, with its diverse agriculture and abundant raw material availability, such as legumes, cereals, fruits, and vegetables, which could be used to create a wide variety of plant-based products, the report suggested. The challenges that need to be addressed to make India a feeding bowl for the world for plant-based foods included improving the taste and texture of plant-based protein sources, increasing awareness and education about plant-based proteins, and addressing issues such as limited availability, production, and processing, and allergenicity, according to the study. Democratising technology by giving incentives to companies to bring manufacturing units in India and catalysing R&D by establishing state-of-the-art Centre of Excellence etc., may boost the plant-based food industry at the national level, it suggested.