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The 4th Mega Convention by Plant Based Foods Industry Association marks grand opening at Aahar.
Mar 11, 2024

The highly anticipated India Plant-Based Foods Show 2024, organised by the Plant Based Food Industry Association (PBFIA), igniting a wave of innovation and collaboration in the food industry, concluded at the prestigious Bharat Mandapam, Pragati Maidan, New Delhi, March 7, 2024. The show was presented on the 1st day of Aahar, by the Ministry of Agriculture & Farmers Welfare, The Agricultural and Processed Food Products Development Authority (APEDA), ICAR- Indian Council of Agricultural Research (ICAR), India Trade Promotion Organisation (ITPO), US Soybean Export Council (USSEC), Indian Chamber of Commerce (ICC), Pall Corporation and ProVeg International, and EY as the Knowledge Partner.

The event was supported by international and national startups and companies like Thryve Plant-Based Venture, Plantaway Foods, Continental Greenbird, Patanjali Foods - Ruchi Soya, Nutricircle Limited, Veganta, DBS Bank, Roundtable on Sustainable Palm Oil (RSPO), Right to Protein, Hello Tempayy, and Acme Group.

The show served as a visionary platform for industry leaders and entrepreneurs across the world, over 40 startups globally and presentations from more than 35 distinguished speakers including Abhishek Dev, chairman of Agricultural and Processed Food Products Export Development Authority (APEDA); Inoshi Sharma, executive director of FSSAI; Dr Sudhanshu, secretary of APEDA; Satyam Shivam Sundaram – partner, Ernst and Young, Valeria Kryntskaya, head Plant-Based venture, Thryve, Dubai; Victor Sonovas, commercial attache, Embassy of Spain and many more.

Sanjay Sethi, executive director of the PBFIA, emphasised the imperative of seizing the challenges confronting the industry by transforming them into opportunities. Among these challenges lies a notable market gap: the demand for high-quality ingredients to combat the locally produced raw material shortage. Addressing this gap, with initiatives such as India’s First Plant Protein Cluster at Bhiwadi, not only facilitates the production of superior products but also plays a pivotal role in enhancing consumer perceptions across various product categories. Moreover, it provides a platform for refining the positioning of plant-based alternatives, ensuring they resonate with evolving consumer preferences for sustainability, health, and taste. By prioritising the sourcing and utilisation of premium ingredients, the industry can fortify its offerings, elevate standards, and cultivate trust and loyalty among discerning consumers.

Dev highlighted the growth of the plant-based foods industry stating the capability of the current global market of $11.3 billion to reach $36 billion by 2033. The Chairman also expounded on the potential of Indian market having a CAGR of 15% and industry estimate of $5 billion dollars by 2033. Asserting APEDA’s support, he said, 'With a target of increasing exports by 100 billion by 2033, we aim to incorporate plant-based foods as a focus product in our export strategy and offer subsidised rates for startups to be part of upcoming conventions, helping them to emerge in the market.'

Sharma said, 'Our perception of the plant-based foods has been a huge challenge, which is mostly due to their presentation in the society. The regulations on the startup industry, especially the classification of soy milk as a beverage is a matter of contention and needs to be addressed.'

In partnership with EY, PBFIA also launched its breakthrough report, ‘Food Tomorrow: Elevating India’s Role in the Plant-Based Revolution’ exploring the potential for plant-based nutrition in India, with a particular emphasis on plant-protein clusters. Satyam Shivam Sundaram, Partner, Ernst and Young affirmed their support for plant-based choices and stated, 'We need to collaborate and lead the way of sustainability and healthy choices. Together, we can achieve more at a lesser cost. As a part of this common goal, we need to facilitate research and developments, offer space for innovation and create holistic ecosystems. Through proper education and awareness, we can have a major shift in the perspective, making plant-based food mainstream instead of it being an alternative.'

Kalpana Das, a renowned human right activist and the wife of chief justice of India, pointed her perspective of consuming milk to be cruelty and advised to adopt soy-based and other plant-based options aiding in the reduction of carbon footprint.

The 4th Mega Convention by PBFIA focused on evincing the limitless possibilities of plant-based foods through an exhibition, followed by demonstrations and panel discussions, highlighting the positive impacts of plant-based foods on the environment and health. Among the highlights of the event was the Startup Pitch Session, where aspiring entrepreneurs presented their ideas to a panel of industry experts and investors. There were stimulating discussions about ways to enhance the customer experience through B2B, B2C and D2C modes involving an insightful panel of Amarjit Singh Ahuja of Purchasing Professional Forums India, Ashu Phakey of ITC and Dhiren Kawar of Keva Flavours.

The session also focused on understanding the need for grooming talent pool for plant-based food industries through a panel discussion led by chef K. Thiru, Principal of Welcome group School of Hotel Management, Manipal University. Following the need for innovation, an erudite panel discussed various ways of replacing conventional dairy and animal products with plant-based alternatives. Closing the forum, Sethi hosted conversations with the founders of various companies, concentrating on the ability of plant-based foods to deliver sustained nutrition.

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