ITC has announced a foray into the burgeoning sector. The company will launch plant-based burger patties and nuggets providing the taste of chicken to consumers through retail, e-commerce and food-service establishments in the country’s top eight cities.
The company has been advised by expert non-profit Good Food Institute India (GFI India) on product and positioning strategy.
Hemant Malik, Divisional Chief Executive - Foods, ITC Ltd said “There is no large pan-Indian brand in the plant-based protein segment in India. We have worked with some global partners to ensure there is no compromise either on the product texture, quality and taste. We want to enjoy the early mover advantage in India. The meat market is huge with 72 per cent of Indians being non-vegetarians and [the market] is estimated today at $45 billion. Given the growing concerns around wellness and sustainability, India has the potential to emerge as a large market for plant-based alternatives.”