The Good Food Institute India (GFI India) — the central expert organization, thought leader, and convening body in the alternative protein sector — has unveiled its first State of the Industry Report on smart protein in India. This pioneering report offers a comprehensive analysis of India’s emerging smart protein industry, highlighting a potential economic growth opportunity estimated at $4.2 billion by 2030 within the Indian landscape. It stands as a compilation of pivotal business advancements, cutting-edge technologies, regulatory developments, and noteworthy scientific achievements that have shaped India’s alternative protein sector over the past five years, with a keen focus on key developments from 2021 to April 2023.
The report highlights the critical demand for smart protein alternatives, aiming to tackle the intricate issues of food security, climate change mitigation, and public health. In parallel, it caters to the shifting dietary requirements of the populace while furthering India’s sustainability goals. Additionally, the report emphasizes the ever-changing realm of innovation and cooperation within the smart protein sector, encompassing the challenges related to cost competitiveness, infrastructure limitations, diverse consumer preferences, technological gaps, and regulatory complexities in India.
Speaking at the launch of the report, GFI India’s Acting manager director, Sneha Singh, said, “The road ahead is long, but we’re truly at an inflection point today, and this report is a testimony to that — 120 pages capturing the history and development of the smart protein sector from its inception through to April 2023, across business, innovation, investment, science, and policy. We hope for this report to be a sharp tool for those working to build the smart protein industry and anyone else looking to learn more about this sector, equipping them with reliable and appropriate information, to make strong, data-driven decisions.”
Divya Saravana, corporate engagement specialist at The Good Food Institute India added, “We are thrilled to launch our first-ever industry report on the smart protein in India. The report offers invaluable insights into consumer behavior, encompassing aspects such as labeling, nomenclature, branding, and repeat purchase intent, underscoring the imperative to enhance consumer awareness and relevance within the plant-based category. Furthermore, it shines a spotlight on the Indian government’s expanding commitment to fortifying the smart protein sector, including the pursuit of ambitious economic objectives and the cultivation of public-private partnerships.”
With a wealth of information and valuable insights, this report aims to become an essential resource for a wide range of stakeholders, including policymakers, industry professionals, investors, innovators, and informed consumers. Its purpose is to offer a comprehensive grasp of the current dynamics in India’s smart protein sector, shedding light on its transformative potential. By enabling informed decision-making and fostering meaningful conversations, this report is positioned to influence the dialogue concerning the future of protein in India.