Renowned Indian Fast-Food Venture, Haldiram's, Introduces Plant-Based Meat Options on Menu
Haldiram's, a renowned Indian food company that began as a confectionery and snack manufacturer, has broadened its horizons and now operates as a fully vegetarian restaurant chain. With a strong presence in 80 countries, including Singapore, where it was recently valued at $10B by state-owned investor Temasek, Haldiram's is a household name among Indians both at home and abroad.
In a move to cater to the growing demand for plant-based proteins, Haldiram's has partnered with GoodDot, a leading plant protein player in India. GoodDot, one of the earliest and most established plant-based meat companies in India, offers a range of products including mutton-style bites, chicken-like chunks, and egg-free scramble. One of GoodDot's staple products, the soya chaap, a soy-based meat alternative, will be added to Haldiram's menu.
The soya chaap is made from soybean flour, wheat protein, whole wheat and refined wheat flours, and gram flour, and contains 15.4g of protein and 3.5g of fibre per 100g, with zero cholesterol and only 0.2g of fat. This addition to Haldiram's menu is a significant step towards integrating plant-based meat into local cuisines, a suggestion made by chefs, restaurateurs, and industry leaders to increase demand.
The trend towards plant-based proteins in India is supported by recent research. While only 11% of Indians have tried plant-based meat, more Indians want to increase their intake of these products (43%) than conventional meat (36%). In fact, two in five Indians want to reduce the amount of meat they eat. This year, 37% of Indians said they were looking to add more plant-based proteins to their diets.
However, affordability is among the biggest barriers to plant-based food consumption in India. To address this issue, the upcoming reform of India's Goods and Services Tax will see the tax rate for plant-based milk and texturised vegetable proteins reduced from 12-18% to 5%, on par with milk beverages, butter, ghee, cheese, and sausages.
Despite these challenges, the market for plant-based proteins in India is showing promising growth. Protein content and health are the most influential drivers of plant-based food consumption in India. As more companies like Haldiram's incorporate plant-based options into their menus, it is likely that we will see a continued increase in the demand for these products.
Anay Mridul, the resident news reporter for this website, originally from India, is passionate about this growing trend. He is particularly interested in coffee, plant-based milk, cooking, eating, veganism, food tech, writing, and the Oxford comma.
GoodDot, under the leadership of its founder and CEO, GoodService, has already raised $7M in funding and has expanded its offerings to international markets, including the US, Canada, Australia, Singapore, UAE, and others. With the addition of GoodDot's soya chaap to its menu, Haldiram's is poised to capitalise on this growing market and continue its expansion both in India and abroad.
McDonald's, another global giant, has also entered the plant-based protein market with its Protein Plus range, adding 5g of soy, pea, and whey protein per ₹25 ($0.29) slice to any burger in West and South India. This move by McDonald's, along with Haldiram's partnership with GoodDot, underscores the increasing importance of plant-based proteins in the Indian food industry.
In conclusion, the demand for plant-based proteins in India is on the rise, driven by health and environmental concerns, and the growing awareness of the benefits of plant-based diets. With companies like Haldiram's and McDonald's entering the market, and the government taking steps to make these products more affordable, it is likely that we will see a continued growth in the plant-based protein market in India.
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