Plant-based alternatives: An industry teeming with the potential to be the next big thing

Humans have evolved over time and come a long way from hunting to working in a professional environment and establishing ground rules for a civilisation to prosper. Although we have advanced across different verticals, we have also excessively exploited resources and killed animals – either for food, play, or entertainment.

However, the realisation is dawning upon us to opt for greener ways evident every passing day. This also includes people making a conscious choice to switch to plant-based alternatives rather than opting for dairy and meat products.

To restore the balance in the food chain and prevent risking the lives of animals for edible purposes, it's time that society makes a paradigm shift to plant-based alternative foods.

Plant-based products are high in nutritive content, further providing essentials that we will rarely get from regular food.

The high amounts of vitamins, minerals, phytochemicals, and antioxidants present in plants help keep our cells healthy and keep our body in balance so that the immune system can get stronger and function properly.

There are free radicals in our body that can cause inflammation and throw our body off balance. Plant-based products also help curb this inflammation in the body as the same phytochemicals neutralise the toxins from pollution, processed food, bacteria, viruses, and more.

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Why the switch to plant-based alternatives?

We have been witnessing several concerns such as overpopulation and exploitation of resources, flora, and fauna in the 21^st-century. The pandemic has already caused a lot of distress among the people and the global meat and dairy industry are currently going through an unprecedented level of competition and disruption.

The global crisis has made us aware of where we stand as it has not only been an eye-opener but also a phase that is asking us to step up and minimise anthropogenic interference. There is no planet B, as we have already known, and this is the time to preserve ours without turning a blind eye to our actions.

These times have made us realise that we are all here to live freely without control but also be considerate enough to respectfully co-exist with other life forms. This is one of the factors for people realising the need to change and are thus observed to be switching to plant-based alternatives and vegan lifestyles to help curb the dwindling number of animals as they face extinction and brutality. 

The COVID-19 outbreak has also made people rethink their lifestyle and choices, including their eating habits. With people spending more time at their homes, having access to the internet to research and learn about what they consume, it has certainly been a strong factor that has been driving this change. 

Adapting to a plant-based future

With an increasing number of people getting educated, plant-based alternatives are becoming the buzz in the country. This has further encouraged companies across the globe to invest heavily in acquiring and creating new products, and brands to appeal to the surging consumer demand for plant-based products. 

Giants in the industries are focusing on launching ventures that deliver plant-based alternatives and provide their patrons with milk alternatives, extra protein content, and packaging soy milk, pulses, beans, etc in protective layers.

People are inclined towards switching to nutritive edibles and content, especially after the workout, gym diets, and meal plans, making the plant-based alternative industry boom and reflect massive potential in the future as well. This industry might be at a nascent stage in our country but it is certainly on its way to turn successful.

Showing immense potential

The plant-based product market is projected to grow at a CAGR of 7.48 percent during the forecasted year 2021-2026. As the increasing vegetarian population of India grows, the market growth is expected to bolster over the next few years. This plant-based product market is segmented, based on product, source, type, form, company, and region. Based on form, the market has been categorised into liquid or solid – out of which the solid segment dominated the Indian scene.

Brands indicate that technology is the future and will be at the forefront in representing India when it comes to the plant-based wave in India.