Indian plant-based foods sector poised for ‘explosive growth’: Minister

The global plant-based food market is expected to reach US$77.8 billion in 2025.


(Representational Image; Source: iStock)

March 17, 2022

A delegation of the newly-formed Plant-Based Foods Industry Association (PBFIA) met with Prahlad Singh Patel, Minister of State for Food Processing Industries, in New Delhi.

The delegation, led by the Association’s Executive Director, Sanjay Sethi, briefed the Union Minister on the state of the nascent but rapidly expanding plant-based food sector in India.

Noting that the sector was poised for explosive growth, Sethi sought the Union Minister’s guidance and support to turn it into a major industry catering to both domestic and global markets through policy changes, capacity building, enabling ease of business and other interventions. The global plant-based food market is expected to reach 77.8 billion U.S. dollars in 2025.

Patel asked PBFIA to have a special meeting with the Ministry to discuss cold chain logistics and explore what can be done to smoothen daily parcel operations between major cities for the industry.

The Minister asked Gaurav Sishodia, AVP, Invest India, who was also present at the meeting, to collaborate with PBFIA on its various initiatives.
Sethi said that he is delighted that the Minister has sought the PBFIA’s assistance to organise two major events, one involving all the Indian stakeholders in the plant-based ecosystem, and another where international players would be invited as well, in order to understand and address all the challenges faced by the industry.

The Minister also appreciated the youthful energy and enthusiasm of the PBFIA delegation.

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