National Restaurant Association of India (NRAI) reported that the Indian food services market was predicted to touch around 6 lakh crores by 2022-23. But with the impact of the pandemic, the growth has slowed down, which can be given a major boost with the introduction of plant-based menus.
Keeping this in mind and the growing consumer awareness, openness and rising demand for innovative and tasty plant protein options, Sanjay Sethi, Executive Director, Plant Based Foods Industry Association (PBFIA) has appealed to the 1 lakh restaurants in big cities to introduce vegan menu observing the growing vegan population.
Sethi also emphasized that PBFIA will pursue the agenda via, Restaurant Associations and leading Hotel Management Institutes, the two major connections to the food services industry.
India is being a huge consumer market and there is a huge opportunity that lies with the restaurants which will be unveiled by providing more inclusive options.
There is a growing consumer concern over climate change and the receptiveness to plant-based meat and dairy especially by climate-conscious younger consumers.
Coupled with the overall rise in economic capacity of the Indian consumers, more people are open to opting these plant based alternatives. With time there will be a massive scale-up of the industry making these products more affordable to the masses on a regular basis.
Another major reason for the rise in demand for plant-based foods is due to the perceived health benefits of the same over animal-based proteins, including the growing concern over gut health and non-communicable diseases associated with the consumption of the latter.
Owing to the prevailing protein deficiency in over 80% of the Indians, it is more appropriate to include plant protein options in restaurants and ultimately tapping into this unnoticed consumer need.