WAC Project

BUSINESS REPORT
On
Plant based diet: THE
NEW TREND IN India?

BY: Abhinav Seth (291056)

Contents Page No.

Executive Summary 1
Introduction 2
Analysis 3&4
Conclusion 5
Recommendation 6
References 7
 Executive Summary
A plant-based diet can be defined as a diet consisting mostly or entirely of foods derived from
plants and with few or no animal-source foods. A plant-based diet is not necessarily vegetarian.
There has been a transformational shift in the recent past towards the adoption of plant-based
diets not only due to the ill-effects of animal-based diet but also because of the benefits of the
diet in contention.
Some recent events like the covid-19 pandemic and the current Bird-flu (in a nascent stage) have
only further fueled the demand and trend for plant-based diets with a more than 100 percent
growth in searches for terms like vegan delivery”, “vegetarian delivery”. Such trends have
encouraged the industry to invest in research and development on commercial
sustainability of plant-based diets which has delivered path-breaking results for the all the
stakeholders alike.
The initial trends on the commercial utility of the plant-based diets is encouraging and are
showing no signs of slowing down which is encouraging for the sustainability and survival of
the mankind and environment due to appalling findings on animal-based diets such as on
an average, it takes about three pounds of grain to raise one pound of meat, 80 per cent of
malnourished children in the world come from countries with food surpluses because this food is
used to feed the cattle, a large amount of carbon emissions that come from raising animals to name
a few.
Traditionally, India has a been a country with a wide prevalence and adoption of plant-
based diet due to an agricultural society. However, with rapid urbanization and growing
population, there was a significant shift to animal- based sources of protein. This trend has
reversed of late not only in India but the entire world which is good news for the
proponents of plant-based diets.
Growing number of celebrities are not only adopting this diet but are also endorsing the
same like Virat Kohli, Shahid Kapoor, Aamir khan to name a few. This has certainly grabbed
eyeballs and raised awareness for this cause.
Some people are also hesitant to adopt plant-based diets due to it’s affordability, taste,
nutritional value. However, scientists and researchers are confident of satisfying the people
in question on the later 2 aspects with an increased number of findings affi rming the
nutritional value and taste of this diet. Furthermore, industry experts in this domain are
confident of making this affordable to the masses as they reach economies of scale.
We can safely say that plant based diets are neither a trend nor a phenomenon but are a
way of life which is expected to be adopted on a much wider and broader scale in the times
to come.
 Introduction

If we look at the Food and Beverage industry, there has been a shift in the consumer
behaviour in terms of buying and consuming products because of which we are seeing new
businesses and new segments in businesses growing rapidly to cater to that shift in demand.
Even before pandemic we saw that there were more consumers especially in middle and
high income group who were focussing more on health conscious diet and this pandemic
situation aggravated or gave a boost to that shift.
If we look at the snack food market which usually comprised of oily, salty, baked and frozen
foods, the demand for healthy food due to environmental factors, affordability and
convenience has led to a shift in this market which now will drive the growth of the snacking
industry in 2021.
People are becoming mindful of what they eat and have started looking for clean labels. The
good news about this shift in consumer demand is that we are seeing new opportunities
within food & beverage industry.
We are seeing products like milk yogurt made from almonds, vegan protein bars, Tofu, the
plant-based market is going through a plethora of innovation in order to grab the
opportunity of this new trend.
For people who are athletes or are into fitness and require good amount of protein, there
are ample amount of plant based substitutes that are being made available to cater to their
needs. Companies like Oziva, Healthkart, Fast&Up are already disrupting this industry by
providing products which are plant based and highly nutritious at the same time.
This trend of healthy eating is going to stay for a very long time especially in the current
situation people are more serious and concerned about their long term health impact.
Hence we see many start-ups and manufacturers have started to accept the importance of
plant based products.
In India Vegetarianism is something which was prevalent for a very long time as most of our
population used to be part of Agriculture sector but now we are seeing a shift in western
countries also.
“A recent study by the United Nations Food and Agriculture Organization says on an
average, it takes about three pounds of grain to raise one pound of meat. Mindful of the
carbon emissions that come from raising animals, a plant-based diet is fast becoming a
staple of consumers’ diet” says Vaishali Dhar (Dhar, 2020: Financial Express)
We are seeing many celebrities adopting the Vegan diet because of which it is becoming
mainstream, many people are leaving animal based diets and shifting to plant based,
therefore it is fine to say that Vegetarian diet is going to grow more in future as it will be
adopted by more number of people.
 Analysis

For many years scientist have been documenting the ill effects and unsustainable nature of
dairy and meat consumption, but only in recent years that we are seeing a shift in the
consumption behaviour of the people, Veganism is something that has garnered attention
of everyone around the world.
While India is a country which has a long history of Vegetarianism as most of our population
is part of Agriculture sector but due to rapid growth in population and urbanization there
was a steady increase in demand for animal protein such as eggs, milk, chicken, fish etc.
However Indian consumers are now shifting towards plant based products due to their
positive impact on health and hygiene. Below are the few factors which is indicating this
trend.
Meat consumption in India is far less than other countries
An average Indian consumes less meet in comparison to an American. The per capita
consumption of meet in India is just 4.4kg making it the second lowest meat consuming
country in the world whereas it is 25kg in America.
Indian kitchens are already full of plant based staples
Ingredients such as Grains, Pulses, Legumes and Sprouts are generally found in traditional
dishes and are always present in Indian pantry. They are considered as staple food and
provide good amount of nutrition in terms of Protein, Vitamins and Minerals.
Indian dishes such as Chana Masala, Vegetable Biryani, Dal Chawal and Dum Aloo are
already plant based.
Steady Increase in consumer awareness
A lot of advertisements are being run to make people aware about the benefits of Plant
Based food. Celebrities are the one who are helping the most to drive this trend, every
another day we see a celebrity endorsing a plant based product.
It is seen that Animal agriculture drives 18% of global greenhouse emission, there has been
many studies published in online platforms to make people aware about the ill effects of
consuming animal based products.
Constant promotions and adoption
Many Indian Athletes and Celebrities Are seen endorsing plant based products. Indian
Actors and Actresses such as Shahid Kapoor, Aamir Khan and Sonam Kapoor have pledged
to become 100% Vegan, i.e. completely adopting plant based diet.
Athletes like Sunil Chhetri and Virat Kohli have also adopted plant based diet and are
influencing many people in the country to do the same if they want to lead a healthy like
themselves.
Affordability
Many companies have entered this market and we can expect many more to enter, as this
market expands the product availability will become more easy because of which the prices
will be reduced due to high competition in the market for similar products. Even now also
many start-ups are trying their best to reach economies of scale and provide the consumers
with quality products at affordable prices.

“A recent research by SEMrush shared that globally there has been a sharp uptick in
searches for services that deliver vegan food to people’s homes. Also, searches for
keywords like “vegan delivery”, “vegetarian delivery”, “order vegan food”, and
“order vegetarian food” increased by 128%, 233%, 51%, and 27% respectively from
January to May 2020” says Nusra, Deputy Editor, RestaurantsIndia.in .
“People are becoming more aware and more compassionate. They are beginning to
care about what they are supporting with their money. This is why we can clearly
see a boom in veganism and vegan brands. It’s only going to grow more,” said
Susmitha Subbaraju, Co-Owner, Carrots that is India’s first vegan restaurant. (Nusra,
2020, RestaurantsIndia.in)
As per many companies who are trying to disrupt this plant based product market,
the target consumer is not only people who are vegetarian but also who are
flexitarian and want to add more plant based product in their diet.
A large population of India is protein deficient hence many companies are looking up
to them and wants to cater to those people who want to substitute their diet and
are looking for a better egg, higher quality, more ethical and that has no cholesterol.

As per the study, Why Global QSR Majors are Including Vegan Option in their Menu (Nusra,
2019), many people globally are becoming committed to vegetarianism, as many parts of
the world was in complete lockdown, it was seen that many people were ordering
vegetarian food more form outside.

Industry Impact
Since more and more people are shifting towards plant based diets, chefs and cooks all over
the world are trying their best to adapt according to the change in taste and preferences of
consumers.
Even culinary schools are trying their best to incorporate new techniques and cooking with
variety of vegetables. Culinary schools are bringing a reform in the old syllabus so as to cater
to the demand of the consumers in best way possible.
Experts believe that in order to boost the demand more, consumers are need to be made
aware the positive effects of plant based diets and how changing their eating habits can help
them is the long run.
Food education is rapidly growing in school with more programs being introduced to teach
kids to grow their own food and cook it. Children are being taught of the benefits of Organic
farming from quite early in life.
Plant based diet will solve multiple problems in the industry such as carbon emission,
nutrition, usage of water etc. Helping farmers by creating a lucrative market for them,
animal welfare are few positive effects of this diet.
Companies like Hyatt group are already part of this shift in consumption as they are taking
the plant based initiatives, also it is seen that restaurants that are plant-forward have higher
mark ups because of the current trend.

Some companies who are part of this industry in India are given below:
Veggie Champ by Ahimsa Food – Frozen Snacks
Good Do—the Vegan Eatery - Cafe
Vegeta Gold – Provides alternatives to fish, kebabs and mutton
Vezlay – Manufactures and sells all types of Soya Products
Millie’s Kitchen - Artisanal Vegan Cheese
Hari Prasad Mithai Wale – Plant based Mithai

Goodmylk - Peanut Curd and Cashew Oat Milk

An Ode to Gaia - Vegan Macrons and Deserts

Good Dot- Plant based Meat

WhiteCub – Vegan Ice Cream

Ju’s Aurosoya - Condensed Almond milk and on the go Almond Milk

Amazin - Delicious smoked Tofu

Break of Dawn - Vegan Feta Cheese

All these companies are start-ups who are catering to a niche market which is expected to
grow rapidly in the coming years. They all started small and trying to scale up their business
with the growing demand.
References

Articles
Vaishali Dhar. (2020) the green movement: The push for a plant-based diet is getting
bigger worldwide, Financial Express

Shahram Warsi. (2018) Why Plant Based Food Trend is a Major Hit Globally

Mohit Yadav and NItin Dixit. (2019) Emerging plant-protein trend in India

Nura. (2020) Why Veganism could be a big trend in 2021

Websites

www.indianretailer.com, accessed on January, 2021

www.deccanchronicle.com, accessed on January, 2021

www.greenqueen.com, accessed on January 2021