{"id":4345,"date":"2022-07-24T05:02:00","date_gmt":"2022-07-24T05:02:00","guid":{"rendered":"https:\/\/www.thirdeyesight.in\/?p=4345"},"modified":"2023-11-19T12:24:30","modified_gmt":"2023-11-19T06:54:30","slug":"will-tatas-mock-meat-foray-drive-the-plant-based-segment-forward","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/will-tatas-mock-meat-foray-drive-the-plant-based-segment-forward\/","title":{"rendered":"Will Tata’s mock meat foray drive the plant-based segment forward?"},"content":{"rendered":"\n

By Aishwarya Ramesh<\/p>\n

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Tata Consumer Products has rolled out ready-to-cook mock meat products under the brand name Simply Better.<\/i><\/p>\n\n

Tata Consumer Products (TCPL) is the latest company to enter the plant-based meat segment in India. TCPL has launched a brand called Simply Better – which includes range of ready-to-cook (RTC) products, made of plant-based meat.<\/p>\n\n

The RTC range is a mix of snacking dishes and traditional Indian dishes. It includes plant-based chicken nuggets, chicken fingers, chicken burger patties and Awadhi seekh kebabs. All these plant-based products are currently available on Amazon Prime and Flipkart.<\/p><\/div><\/div>\n\n

\"TCPL's\n

TCPL’s Simply Better products as seen on Amazon.<\/p><\/div>\n

When it comes to multinational companies, ITC has a play in this (RTC) category. Its Master Chef range includes a plant-based burger patty, priced at Rs 630 for 300 grams. The range has both vegetarian and non-vegetarian frozen snacks and kebabs. The Incredible range also has plant-based chicken nuggets, priced at Rs 475 for 300 grams.<\/p><\/div><\/div>\n\n

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ITC’s IncrEdible plant-based RTC range<\/b><\/p><\/div>\n\n

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Compared to ITC\u2019s offering, Tata\u2019s Simply Better line is priced slightly differently. 270 grams of plant-based chicken nuggets costs Rs 390 and the plant-based burger patty is priced at Rs 450 for 300 grams.<\/p>\n\n

According to a report by Research and Markets, the Indian meat substitutes and mock meat market is estimated to reach over USD47.57 million in value terms by the end of FY2026 and is forecast to grow at CAGR of 7.48% during FY2021E-FY2026.<\/p>\n\n

Devangshu Dutta, chief executive and founder at Third Eyesight, a specialist consulting firm, mentions that the presence of Tata Consumer Products and ITC could help in increasing adoption of the category over time, since both are large players intending to scale with mainstream customers.<\/p><\/div><\/div>\n\n

\u201cHowever, both companies will be advertising and targeting the same cohort of customers. Additionally, the two will also be competing against the multiple D2C brands in the category,\u201d he added.<\/b><\/p>\n\n

The plant-based meat market, or smart protein market, includes D2C brands. Some of these brands are also backed and endorsed by celebrities and athletes. The Good Dot is endorsed by Olympic athlete Neeraj Chopra, cricketer Virat Kohli and his wife and actress Anushka Sharma have invested in Blue Tribe and actor-couple Riteish Deshmukh and his wife Genelia Deshmukh have invested in plant-based meat startup Imagine Meats.<\/p>\n\n