India’s protein supplements market is projected to grow from ₹7,461 crore in 2024 to ₹13,186 crore by 2033.

Published on: Oct 3, 2026, 09:16:54 IST

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As whey protein prices rise amid supply constraints, food and nutrition companies are turning to fermented yeast protein to diversify their offerings and cater to consumers seeking alternatives to conventional dairy-based supplements.

HUL expands Horlicks into protein supplements

The latest to enter the space is Hindustan Unilever Ltd (HUL) with Horlicks Protein in ready-to-drink and powder formats, extending the brand beyond its traditional children’s nutrition portfolio. The company is betting on its nutrition credentials, distribution network and accessible pricing to make protein part of everyday diets, expanding beyond sports and gym enthusiasts. While powder sachets are priced at around ₹83 a serving, its ready-to-drink shake costs ₹120.

“Being late to a party doesn’t mean that you’re not there,” said Rajneet Kohli, executive director of HUL’s foods division. Kohli estimates that only about 3% of Indian households consume protein products. “Our job is to expand the category,” he said.

For its new range, HUL has opted for fermented yeast protein, which Kohli said offers the required protein quality while balancing cost and digestibility. Unlike fermented yeast protein, whey protein is derived from milk and may not be suitable for consumers who are lactose intolerant.

Whey is a high-quality protein derived from cheese-making, and health-conscious consumers use it because it quickly supplies essential amino acids to promote muscle repair, growth, and overall daily nutrition. Despite being a large producer of milk, India has little cheese production, leaving supplement makers dependent on foreign suppliers. Consequently, yeast-based protein is gaining traction as a middle ground between dairy-based proteins and plant-based proteins.

Protein market expected to nearly double by 2033

India’s protein supplements market of ₹7,461 crore in 2024 is projected to reach ₹13,186 crore by 2033, according to an India Brand Equity Foundation report. Average daily protein intake, however, remains at 47g per person, below the ICMR-recommended 60g. The report said that affordability is a challenge, particularly with imported supplements remaining expensive. Industry executives said whey protein powder now costs more than ₹4,500 a kg, up from around ₹1,000 in 2023. Supplement-grade whey concentrate has climbed from about ₹4.5 lakh a tonne in mid-2023 to nearly ₹30 lakh a tonne now.

Marico’s Cosmix began with plant-based supplements, before expanding into fermented yeast protein. In January 2025, it introduced a plant-and-yeast protein blend and subsequently developed a dedicated yeast-protein range using its proprietary Fermagut fermentation process. Marico acquired a 60% stake in Cosmix Wellness for ₹226 crore in February, valuing the company at about ₹375 crore.

SuperYou bets on yeast protein and new formats

Actor Ranveer Singh-backed SuperYou was among the early entrants in the category, at a time protein supplements were largely associated with whey.

“As a brand, our goal is to offer good options across the whole spectrum for the consumer and let the consumer choose,” said Nikunj Biyani, co-founder of SuperYou. The company is also developing yeast and whey innovations, including yeast-protein biscuits. Its yeast-protein range has recorded repeat purchase rates of more than 60% and contributes significantly to revenue, Biyani said, without disclosing its share. However, yeast protein is also facing cost pressures. Prices have risen 20% over the past six months, Biyani said.

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