In spite of the fact that plant-based protein substitutes have been all the rage on restaurant menus and in the meat sections of supermarkets over the past couple of years, the majority of consumers nevertheless remain ardent carnivores to this day. They do, however, like reassurance and validation of their meat selections, which is an opportunity that astute menu marketers have addressed by developing a category of pedigreed proteins that enable patrons to feel good about ingesting the meat of their liking.

Some people claim ‘plant-based meat’ is no longer a viable topic of discussion. The plant-based meat industry appears to be dying, or at least fading away, as a number of recent publications have predicted. When plant-based meat first started getting attention, it was almost impossible to avoid hearing about it; it was a cultural phenomenon on par with frothy coffee and sourdough.

However, many people believe that the plant-based meat industry is doomed because sales have stalled recently. A failed fad does not have to spell the end of an entire market, though. Skeptics of plant-based meat fail to account for the more plausible likelihood of price parity, a feature that could significantly extend the product's lifespan. And while plant-based meat is showing some takers clean meat has also raised a few discussions. 

Plant-based Meat or Clean Meat?

“In recent times, the restaurants have reached a goal of 'No Antibiotics Ever' chicken products throughout Indian operations. New themes have been coming up in the F&B industry focusing on using only organic, local ingredients, with meats from naturally raised animals. Meat is ethically sourced with a specific set of checklists to maintain the standards and served clean and fresh on the restaurants' menus,” shared Rajan Sethi, Founder of Bright Hospitality Group.

He also opined that faux meats are the meatless options to make customers feel good about their carnivorous choices but as these fake meats are ultra-processed foods, these meat alternatives aren’t much better for the body than traditional meats. “A myriad of additives is needed to make these products look and taste like traditional meat. Not to forget, restaurants are the places where people want to eat what they generally can’t on their diets. So, it doesn’t seem to be a go-to side on the restaurants’ menus,” he added. 

Hearing From the Manufacturers

“No matter which way you slice it, plant-based meat has significantly more nutritional benefits than conventional meat,” says non-profit the Good Food Institute (GFI). “Whether it’s introducing a new source of fiber to your diet or cutting down on cholesterol, plant-based products lead to better health outcomes.”

GFI says plant-based meat is a market-based solution that can feed a growing global population while also building a more stable food system, stem antibiotic resistance, and meet climate goals.

Indian plant-based meat brand, Blue Tribe is experiencing a doubling of revenue every quarter, albeit at a small base. Key markets are the top-tier metro cities like Mumbai, Delhi, Kolkata, and Bengaluru along with cities like Dehradun and Chandigarh. The Quarter-on-Quarter Growth is 50 percent and 1st half growth in 2022 (compared to 2021) has been 400 percent.

“We are seeing a very good demand coming from top hotel chains as well as restaurants. We have already collaborated with hotels like  ITC, Four Seasons, JW Marriott, Ritz Carlton, and Le Meridien, etc, and some restaurants like Smoke House Deli, Charcoal Eats, Charcoal Eats, and many more. Plant-based or Vegan options are now finding their way into mainstream menus and are not limited to those 1 or 2 restaurants in the area which are exclusively vegan.  We expect exponential growth over the next few years on the back of innovation in product and reduction in cost due to scale,” Sandeep Singh, Founder & MD of Blue Tribe explained.

Hit in HoReCa Market

The Indian food industry is poised for a major paradigm change with the large-scale adoption of plant-based meat in restaurants, QSR chains, and hotels’ menus. “Be it national QSR chains like Domino’s, Starbucks, world’s largest cloud kitchen chain Rebel Foods, premium luxury properties of JW Marriott, Leela, Taj, Radisson, Novotel, etc.: plant-based meats are gradually becoming a part of the menu of many HORECA organizations,” Abhishek Sinha, Co-founder, GoodDot shared.

He further anticipates that in the near future many more national chains, restaurants, hotels, and cafés will have plant-based meat on their menu. In the next three to four years, he further predicts that almost every restaurant, cafe, and HORECA organization will have plant-based meat on its menu, a story similar to what paneer followed in the last few decades. 

“India will potentially be the biggest market for plant-based meat in the world in the coming years,” he felt.

'There is a Demand'

Anas Qureshi, Brand Head at Ivoryy Cocktail Garden shared that plant-based meat has been around for a while now, it has become a solution for all vegetarians to satisfy their meat cravings without cheating on their vegan-friendly and cruelty-free diet.

“With rising awareness of climate change and animal cruelties, an increasing number of consumers are opting for vegan meat that tastes exactly like meat with no hiccups. Vegan meat gained a lot of popularity since celebrities started to endorse and promote veganism,” he added. 

Due to a relevant increase in demand for mock meats, a lot of brands emerged in the market supplying the same and with the increased demands, even restaurants started putting up mock meats on the menu which gave the vegetarian guest more options to try something new from the regular vegetarian dishes they always have.

The Missing Ingredient: Price Parity

Customers are naturally hesitant to spend a lot of money, especially if there are cheaper options available. Meat substitutes, such as faux nuggets, shellfish, and burgers, can cost twice as much as their animal-based counterparts and are priced similarly to high-end animal items like organic chicken and grass-fed beef.

The evidence suggests that the declining sales of plant-based alternatives would end if this price barrier could be removed. Cost is cited as the main reason why 36 percent of consumers are not interested in purchasing plant-based meat. Moreover, 73 percent of consumers would only buy plant-based meat if the price was lower than or comparable to animal-based alternatives.

There are additional obstacles to plant-based products taking over the market, including flavor and convenience, but scientists believe that achieving price parity will pave the path to widespread adoption. In fact, it’s already happened.