Market Overview
| Study Period | 2017 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 1.52 Billion |
| Market Size (2030) | USD 2.08 Billion |
| Growth Rate (2025 - 2030) | 6.52% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
India Protein Market Analysis by Mordor Intelligence
The India Protein Market size is estimated at 1.52 billion USD in 2025, and is expected to reach 2.08 billion USD by 2030, growing at a CAGR of 6.52% during the forecast period (2025-2030).
The protein industry in India is experiencing a significant transformation driven by changing consumer preferences and dietary habits. A notable shift towards plant protein is evident, with 74% of Indians viewing a vegan diet as healthy in 2023. The market is witnessing increased innovation in protein sources, particularly in plant-based alternatives, as manufacturers respond to growing health consciousness among consumers. This evolution is further supported by government initiatives, exemplified by Maharashtra's allocation of INR 2,399 crore in September 2024 to support soybean farmers, demonstrating the strategic importance of protein sources in agricultural policy.
The industry is witnessing substantial technological advancement and infrastructure development. In May 2024, the launch of the Centre for Smart Protein and Sustainable Material Innovation in Bengaluru, a collaboration between IKP Knowledge Park and the Good Food Institute (GFI), marked a significant milestone in protein innovation. Major players are expanding their production capabilities, as evidenced by Nitta Gelatin's INR 200 crore investment in its Kakkanad facility for collagen peptide production. The sector is also seeing increased research and development activities, with companies like Roquette introducing new multi-functional pea proteins in February 2024.
Consumer awareness and health consciousness are reshaping market dynamics, particularly in urban areas where approximately 64,148 gyms were operational as of 2023. The market is experiencing a notable shift in consumer preferences, with about 63% of Indians expressing willingness to purchase plant-based meat regularly. This trend is particularly significant given that approximately 60-65% of the population was lactose-intolerant in 2022, driving demand for alternative protein sources.
Sustainability and clean-label products are emerging as key market differentiators, with 61% of consumers favoring brands that emphasize sustainable packaging. The personal care and cosmetics segment is witnessing increased incorporation of protein ingredients, with working women allocating approximately 35% of their income for personal expenditure. The industry is responding with innovative product formulations, particularly in natural and organic offerings, as consumers increasingly scrutinize ingredient lists and manufacturing processes.
India Protein Market Trends and Insights
Increase in per capita animal protein consumption to create a favorable environment for whey protein and collagen suppliers
- The country's food industry has tripled in the past decade and is expected to follow the same trend over the coming years. Functional foods, beverages, and protein products are becoming widely popular due to their health benefits. The demand for personal care products containing whey protein has also increased in the country. Due to the country's increasing awareness of fitness, the demand for whey protein powder among bodybuilders and young Indians is increasing. About 33% of urban Indians have easy access to a gym. Meanwhile, 25% of the population in India who had never joined a gym or taken a lesson from a fitness teacher began going to the gym for the first time in the first half of 2022.
- The market is driven by factors such as a growing inclination toward beauty and health supplements and increased R&D activities. The spectrum of applications of collagen is broad, with leading pharmaceutical and biotechnological companies incorporating collagen-based products for better drug delivery systems. However, there is a strong preference for natural and ayurvedic products, boosting the market for natural ingredients such as animal proteins.
- In 2020, the yield of animal byproducts ranged between 50% and 60% of the live weight. Hides and skins are typically among the most valuable animal byproducts, producing end products like edible gelatin. The weight of the hides ranges from 4% to 11% of the live animal's weight. Increased usage of gelatin as a viable biodegradable food packaging material and a boost in fortified confectionery and sports nutrition products may lead to new prospects for the Indian market from 2024 to 2029.
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Increase in per capita animal protein consumption to create a favorable environment for whey protein and collagen suppliers
- The raw materials considered in the graph are meat from cattle, pigs, and chickens (fresh and chilled), raw milk from cattle and goats, skim milk from cows, and dry whey powder. India is the world's leading producer of milk, which is the basic raw material used to manufacture various animal protein types. The per capita availability of milk in India stood at 459 grams per day for 2022-2023, significantly higher than the global average of 322 grams per day, as reported in Food Outlook in June 2023. India contributed to 24% of the global milk production in the year 2021-2022. India’s milk production has registered a 51% increase during the last eight years.
- Animal proteins, such as whey, are widely generated in India as a byproduct of paneer and cheese manufacturing. The production of these byproducts is continuously increasing. The production of cheese from whole cow milk was registered at 5,190.8 tonnes in India in 2021. However, much of the cheese market remains untapped, implying that the production of cheese and its byproducts has huge growth potential in India.
- Gelatin and collagen-producing industries rely heavily on slaughterhouses and cattle, pig, and fish farms for their raw materials. In 2022, the country had 63 government-approved abattoirs, becoming one of the world's largest meat producers. However, most abattoirs in India dispose of their waste, including skin, bones, and hooves, posing a significant difficulty for the animal protein industry. Government initiatives and the construction of new modern slaughterhouses nationwide are helping boost the industry. Similarly, raw materials are supplied to the country's marine-based food makers by the marine industries, which are primarily based in the state of Bengal.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Growing concerns about infant nutrition are driving the market
- Non-alcoholic drinks are predicted to support market growth
- Home cooking is driving the market
- Dairy alternatives to witness significant growth rate
- Growing preference for a protein-rich diet to influence segment growth
- The healthier snacking option is driving the market
- Compound Feed Supporting the Demand for Animal Feed in India
- India emerging as one of the major markets in terms of plant protein consumption
- The increasing presence of organized bakeries is anticipated to impact the market
- Fortification and innovative packaging trends are expected to influence the breakfast cereals segment
- Growing per capita consumption and retail infrastructure are driving market growth
- Increase in the geriatric population is driving the segment
- The RTE/RTC segment is dominant in the food processing industry
- Rising Awareness Regarding Sport/Performance Nutrition Is Increasing the Consumer Base in the Market
- Premiumization and growing preference for natural ingredients boosting the segment
- India to focus more on soybean and pea production among plant protein types
Segment Analysis: Source
Plant Protein Segment in India Protein Market
Plant protein dominates the Indian protein market, commanding approximately 65% of the total market value share in 2024. This significant market position stems from the immense availability, superior functionality, and cost-effectiveness of key plant protein sources like soy, wheat, and peas. The segment's dominance is further strengthened by India's large vegetarian population and a growing consumer shift away from animal-based products, with around 77% of consumers being open to trying alternative protein sources. Government support has also played a crucial role in boosting this segment, particularly through initiatives by the Ministry of Food Processing Industries to support the development of plant protein products. The segment's strong performance is additionally driven by the increasing soybean production in the country, with soy protein demonstrating enhanced functionalities including increased water binding capacity, gelling properties, and improved texture.
Animal Protein Segment in India Protein Market
The animal protein segment is projected to demonstrate robust growth with an expected CAGR of approximately 7% during 2024-2029, emerging as the fastest-growing segment in the Indian protein market. This accelerated growth trajectory is primarily attributed to the segment's complete amino acid profile, making it highly preferred for sports protein applications. The growth is further supported by India's position as the world's largest milk producer, contributing nearly 25% to global milk production. The segment's expansion is also driven by the rising demand for protein-enriched products in the sports nutrition sector, with whey protein particularly gaining traction due to its superior nutritional profile and versatile applications. Additionally, the increasing adoption of collagen and gelatin in various applications, from supplements to personal care products, is contributing to the segment's rapid growth.
Remaining Segments in Source Segmentation
The microbial protein segment, while currently holding a smaller market share, represents an emerging segment in the Indian protein market. This segment encompasses innovative protein sources such as algae protein and mycoprotein, offering sustainable protein alternatives to traditional protein sources. The segment is gaining traction due to the gradually expanding knowledge of these protein components, which is propelling the scope of innovations and building customer confidence. Microbial proteins are particularly valued for their sustainability credentials, using significantly less land and water resources compared to traditional protein sources. The segment is seeing increased applications in various industries, from sports nutrition to meat alternatives, driven by growing consumer awareness and acceptance of alternative protein sources.
Segment Analysis: End User
Food and Beverages Segment in India Protein Market
The food and beverages segment dominates the India protein market, commanding approximately 71% market share in 2024, establishing itself as the cornerstone of protein applications in the country. This dominance is primarily driven by the meat/poultry/seafood and meat alternatives sub-segment, which accounts for nearly 34% of the segment's value, followed closely by dairy and dairy alternative products at around 25%. The segment's leadership position is reinforced by increasing consumer awareness about protein-rich diets and the growing demand for protein functionalities across various food applications. The rising trend of veganism and concerns about animal cruelty have particularly boosted the demand for plant-sourced products within this segment, with plant proteins accounting for over 82% of the total consumption volume in protein food and protein beverage applications.
Personal Care and Cosmetics Segment in India Protein Market
The personal care and cosmetics segment is experiencing remarkable growth in the India protein market, projected to expand at approximately 10% CAGR from 2024 to 2029. This accelerated growth is driven by increasing consumer awareness regarding natural ingredients and a growing preference for protein-enriched personal care products. The segment's expansion is particularly notable in the natural personal care products category, which commands about 40% of the total market share. A significant shift towards sustainability is evident, with approximately 61% of consumers favoring brands that emphasize sustainable packaging. The segment is witnessing substantial innovation in product formulations, especially with the integration of various protein types such as collagen, which holds nearly 70% value share in personal care applications, and plant-based proteins that are gaining traction due to their natural properties and consumer preference for botanical ingredients.
Remaining Segments in End User Market
The supplements and animal feed segments play vital roles in shaping the overall protein market landscape in India. The supplements segment is primarily driven by the sports/performance nutrition sub-segment, which has gained significant traction due to increasing health consciousness and fitness trends among Indian consumers. The segment is witnessing substantial growth in baby food and infant formula applications, driven by rising awareness about children's protein nutrition. Meanwhile, the animal feed segment maintains a steady presence in the market, supported by India's position as one of the world's largest feed-producing nations. This segment is particularly important for the livestock industry, with various protein types being utilized to enhance feed quality and animal nutrition outcomes.
Competitive Landscape
Top Companies in India Protein Market
The protein market in India is characterized by intense innovation and strategic expansion activities among key players like Südzucker AG, International Flavors & Fragrances (IFF), and Archer Daniels Midland Company (ADM). Companies are heavily investing in research and development to introduce novel protein ingredients, particularly focusing on plant-based alternatives and sustainable sourcing methods. Product innovation trends indicate a strong emphasis on clean-label products, improved functionality, and enhanced nutritional profiles. Operational agility is demonstrated through investments in state-of-the-art protein manufacturing facilities and the adoption of advanced technologies for protein extraction and processing. Strategic moves predominantly revolve around establishing a local manufacturing presence, strengthening distribution networks, and forming strategic partnerships with regional players. Market expansion strategies include targeting emerging application segments, developing customized solutions for specific end-user industries, and leveraging e-commerce platforms for broader market reach.
Fragmented Market with Strong Local Presence
The Indian protein industry exhibits a fragmented structure with a mix of global conglomerates and local specialists competing for market share. Global players like IFF and ADM leverage their extensive research capabilities and international expertise, while local players such as Vippy Industries and Nakoda Dairy capitalize on their deep understanding of regional preferences and established distribution networks. The market is witnessing increasing consolidation through strategic acquisitions and partnerships, particularly in specialized protein segments like plant-based alternatives and dairy proteins. International companies are actively pursuing partnerships with local manufacturers to strengthen their market position and expand their product portfolio.
The competitive landscape is further shaped by the presence of diversified conglomerates that operate across multiple protein segments, alongside specialized players focusing on specific protein types or applications. Merger and acquisition activities are primarily driven by the need to acquire technological capabilities, expand geographic presence, and gain access to local distribution channels. Companies are increasingly focusing on vertical integration strategies to ensure supply chain control and maintain quality standards, while also investing in capacity expansion to meet growing demand across various end-user segments.
Innovation and Sustainability Drive Future Success
Success in the Indian protein market increasingly depends on companies' ability to innovate while maintaining cost competitiveness. Incumbents are focusing on developing proprietary technologies, establishing strong relationships with raw material suppliers, and creating differentiated product offerings to maintain their market position. Companies are also investing in sustainable protein production methods and transparent supply chains to address growing consumer concerns about environmental impact. The ability to adapt to changing regulatory requirements, particularly regarding food safety and labeling, while maintaining operational efficiency, has become crucial for market success.
Market contenders are gaining ground by focusing on niche segments and developing specialized protein solutions for specific applications. Companies are investing in research and development to create unique value propositions and address unmet market needs. The increasing focus on health and wellness among consumers presents opportunities for new entrants to introduce innovative protein products. Success factors also include building strong distribution networks, establishing brand credibility through quality certifications, and developing cost-effective production methods. Companies that can effectively navigate regulatory requirements while maintaining product innovation and quality standards are better positioned for future growth in this dynamic market.
India Protein Industry Leaders
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Archer Daniels Midland Company
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Fonterra Co-operative Group Limited
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International Flavors & Fragrances Inc.
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Südzucker AG
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VIPPY INDUSTRIES LIMITED
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- August 2024: Global dairy co-operative Fonterra and natural ingredient manufacturer Superbrewed Food have teamed up to boost sustainable food production. The partnership combines Superbrewed’s biomass protein platform with Fonterra’s dairy processing, ingredients, and application expertise to develop additional nutrient-rich, functional biomass protein.
- May 2024: Nitta Gelatin India Limited (NGIL), a collaboration between Nitta Gelatin of Japan and the Kerala State Industrial Development Corporation, initiated its collagen peptide expansion project at its Kakkanad facility. The project involves an investment of INR 200 crore.
- February 2024: Roquette expanded its plant protein market offerings by introducing four multi-functional pea proteins aimed at improving taste, texture, and applications in plant-based food and high-protein nutritional products. The company expanded its NUTRALYS® plant protein portfolio, providing food manufacturers with additional application opportunities. The four pea protein ingredients – NUTRALYS® Pea F853M (isolate), NUTRALYS® H85 (hydrolysate), NUTRALYS® T Pea 700FL (textured), and NUTRALYS® T Pea 700M (textured) – were developed to address challenges in creating foods and beverages with plant proteins.
India Protein Market Report Scope
Animal, Microbial, Plant are covered as segments by Source. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User.
Source
| Animal | By Protein Type | Casein and Caseinates |
| Collagen | ||
| Egg Protein | ||
| Gelatin | ||
| Insect Protein | ||
| Milk Protein | ||
| Whey Protein | ||
| Other Animal Protein | ||
| Microbial | By Protein Type | Algae Protein |
| Mycoprotein | ||
| Plant | By Protein Type | Hemp Protein |
| Pea Protein | ||
| Potato Protein | ||
| Rice Protein | ||
| Soy Protein | ||
| Wheat Protein | ||
| Other Plant Protein |
End User
| Animal Feed | ||
| Food and Beverages | By Sub End User | Bakery |
| Beverages | ||
| Breakfast Cereals | ||
| Condiments/Sauces | ||
| Confectionery | ||
| Dairy and Dairy Alternative Products | ||
| Meat/Poultry/Seafood and Meat Alternative Products | ||
| RTE/RTC Food Products | ||
| Snacks | ||
| Personal Care and Cosmetics | ||
| Supplements | By Sub End User | Baby Food and Infant Formula |
| Elderly Nutrition and Medical Nutrition | ||
| Sport/Performance Nutrition | ||
| Source | Animal | By Protein Type | Casein and Caseinates |
| Collagen | |||
| Egg Protein | |||
| Gelatin | |||
| Insect Protein | |||
| Milk Protein | |||
| Whey Protein | |||
| Other Animal Protein | |||
| Microbial | By Protein Type | Algae Protein | |
| Mycoprotein | |||
| Plant | By Protein Type | Hemp Protein | |
| Pea Protein | |||
| Potato Protein | |||
| Rice Protein | |||
| Soy Protein | |||
| Wheat Protein | |||
| Other Plant Protein | |||
| End User | Animal Feed | ||
| Food and Beverages | By Sub End User | Bakery | |
| Beverages | |||
| Breakfast Cereals | |||
| Condiments/Sauces | |||
| Confectionery | |||
| Dairy and Dairy Alternative Products | |||
| Meat/Poultry/Seafood and Meat Alternative Products | |||
| RTE/RTC Food Products | |||
| Snacks | |||
| Personal Care and Cosmetics | |||
| Supplements | By Sub End User | Baby Food and Infant Formula | |
| Elderly Nutrition and Medical Nutrition | |||
| Sport/Performance Nutrition | |||
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Market Definition
- End User - The Protein Ingredients Market operates on a B2B basis. Food, Beverages, Supplements, Animal Feed, and Personal Care & Cosmetic manufacturers are considered to be end-consumers in the market studied. The scope excludes manufacturers buying liquid/dry whey to be used for application as a binding agent or thickener or other non-protein applications.
- Penetration Rate - Penetration Rate is defined as the percentage of Protein-Fortified End User Market Volume in the Overall End User Market Volume.
- Average Protein Content - Average protein content is the average protein content present per 100 g of product manufactured by all end-user companies considered under the scope of this report.
- End User Market Volume - End-user market volume is the consolidated volume of all types and forms of end-user products in the country or region.
| Keyword | Definition |
|---|---|
| Alpha-lactalbumin (α-Lactalbumin) | It is a protein that regulates the production of lactose in the milk of almost all mammalian species. |
| Amino acid | It is an organic compound that contains both amino and carboxylic acid functional groups, which are required for the synthesis of body protein and other important nitrogen-containing compounds, such as creatine, peptide hormones, and some neurotransmitters. |
| Blanching | It is the process of briefly heating vegetables with steam or boiling water. |
| BRC | British Retail Consortium |
| Bread improver | It is a flour-based blend of several components with specific functional properties designed to modify dough characteristics and give quality attributes to bread. |
| BSF | Black Soldier Fly |
| Caseinate | It is a substance produced by adding an alkali to acid casein, a derivative of casein. |
| Celiac disease | Celiac disease is an immune reaction to eating gluten, a protein found in wheat, barley, and rye. |
| Colostrum | It is a milky fluid that’s released by mammals that have recently given birth before breast milk production begins. |
| Concentrate | It is the least processed form of protein and has a protein content ranging from 40-90% by weight. |
| Dry protein basis | It refers to the percentage of "pure protein" present in a supplement after the water in it is completely removed through heat. |
| Dry whey | It is the product resulting from drying fresh whey which has been pasteurized and to which nothing has been added as a preservative. |
| Egg protein | It is a mixture of individual proteins, including ovalbumin, ovomucoid, ovoglobulin, conalbumin, vitellin, and vitellenin. |
| Emulsifier | It is a food additive that facilitates the blending of foods that are immiscible with one another, such as oil and water. |
| Enrichment | It is the process of addition of micronutrients that are lost during the processing of the product. |
| ERS | Economic Research Service of the USDA |
| Extrusion | It is the process of forcing soft mixed ingredients through an opening in a perforated plate or die designed to produce the required shape. The extruded food is then cut to a specific size by blades. |
| Fava | Also known as Faba, it is another word for yellow split beans. |
| FDA | Food and Drug Administration |
| Flaking | It is a process in which typically a cereal grain (like corn, wheat, or rice) is broken down into grits, cooked with flavors and syrups, and then pressed into flakes between cooled rollers. |
| Foaming agent | It is a food ingredient that makes it possible to form or maintain a uniform dispersion of a gaseous phase in a liquid or solid food. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Fortification | It is the deliberate addition of micronutrients that are not found in them naturally or which are lost during processing, to improve a food product's nutritional value. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gelling agent | It is an ingredient that functions as a stabilizer and thickener to provide thickening without stiffness through the formation of gel. |
| GHG | Greenhouse Gas |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley. |
| Hemp | It is a botanical class of Cannabis sativa cultivars grown specifically for industrial or medicinal use. |
| Hydrolysate | It is a form of protein manufactured by exposing the protein to enzymes that can partially break the bonds between the protein's amino acids and break down large, complicated proteins into smaller pieces. Its processing makes it easier and quicker to digest. |
| Hypoallergenic | It refers to a substance that causes fewer allergic reactions. |
| Isolate | It is the purest and most processed form of protein which has undergone separation to obtain a pure protein fraction. It typically contains ≥ 90% of protein by weight. |
| Keratin | It is a protein that helps form hair, nails, and the outer layer of skin. |
| Lactalbumin | It is the albumin contained in milk and obtained from whey. |
| Lactoferrin | It is an iron‑binding glycoprotein that is present in the milk of most mammals. |
| Lupin | It is the yellow legume seeds of the genus Lupinus. |
| Millenial | Also known as Generation Y or Gen Y, it refers to the people born from 1981 to 1996. |
| Monogastric | It refers to an animal with a single-compartmented stomach. Examples of monogastric include humans, poultry, pigs, horses, rabbits, dogs, and cats. Most monogastric are generally unable to digest much cellulose food materials such as grasses. |
| MPC | Milk protein concentrate |
| MPI | Milk protein isolate |
| MSPI | Methylated soy protein isolate |
| Mycoprotein | Mycoprotein is a form of single-cell protein, also known as fungal protein, derived from fungi for human consumption. |
| Nutricosmetics | It is a category of products and ingredients that act as nutritional supplements to care for skin, nails, and hair natural beauty. |
| Osteoporosis | It is a medical condition in which the bones become brittle and fragile from loss of tissue, typically as a result of hormonal changes, or deficiency of calcium or vitamin D. |
| PDCAAS | Protein digestibility-corrected amino acid score (PDCAAS) is a method of evaluating the quality of a protein based on both the amino acid requirements of humans and their ability to digest it. |
| Per-capita consumption of animal protein | It is the average amount of animal protein (such as milk, whey, gelatin, collagen, and egg proteins) that is readily available for consumption by each person in an actual population. |
| Per-capita consumption of plant protein | It is the average amount of plant protein (such as soy, wheat, pea, oat, and hemp proteins) that is readily available for consumption by each person in an actual population. |
| Quorn | It is a microbial protein manufactured using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten. |
| RTD | Ready-to-Drink |
| RTS | Ready-to-Serve |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Softgel | It is a gelatin-based capsule with a liquid fill. |
| SPC | Soy protein concentrate |
| SPI | Soy protein isolate |
| Spirulina | It is a biomass of cyanobacteria that can be consumed by humans and animals. |
| Stabilizer | It is an ingredient added to food products to help maintain or enhance their original texture, and physical and chemical characteristics. |
| Supplementation | It is the consumption or provision of concentrated sources of nutrients or other substances that are intended to supplement nutrients in the diet and is intended to correct nutritional deficiencies. |
| Texturant | It is a specific type of food ingredient that is used to control and alter the mouthfeel and texture of food and beverage products. |
| Thickener | It is an ingredient that is used to increase the viscosity of a liquid or dough and make it thicker, without substantially changing its other properties. |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| TSP | Textured soy protein |
| TVP | Textured vegetable protein |
| WPC | Whey protein concentrate |
| WPI | Whey protein isolate |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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