Big FMCG Companies Enter Plant-Based Meat Segment

Big FMCG companies are entering the plant-based meat segment, targeting non-vegetarian consumers who are looking for an animal-protein replacement, besides a large section of vegetarians. The segment which opened up two years back is estimated to touch around $1 billion by 2030 and now products in the plant-sourced meat segment are available at e-commerce platforms and large retail chains in leading metros.
Besides, players are also targeting institutional clients in the HoReCa (hotel, restaurant and catering) segment and several Quick Service Restaurant (QSR) chains such as Domin's and Starbucks in India have included plant-based protein in their food menus.

Last week, Tata Consumer Product Ltd (TCPL) announced its entry into the plant-based meat products category, under a new brand "Tata Simply Better" and introduced four variants - Nuggets, Burger Patty, Awadhi Seekh Kebab and Spicy Finger.

According to the Tata group FMCG arm, plant-based meats are at the forefront of the broader plant protein landscape, aimed at replicating the sensory and cultural resonance of animal-derived meat, but without the associated implications to the environment and health.