Food and Beverages

The Global Indian Vegan Food Market Growth Accelerated By Rising Health Consciousness

ashwini bakhade

The Global Indian Vegan Food Market Growth Accelerated By Rising Health Consciousness

Vegan foods are plant-based products that resemble meat and dairy alternatives but are made from plant-based ingredients like soy, wheat, and nuts. Some popular vegan food includes vegan burger patties, vegan sausages, vegan cheese, plant-based milk like soy milk, almond milk and oat milk. The growing demand for veganism and plant-based diets in India is accelerating the growth of the vegan food industry. The health benefits associated with vegan diets such as reducing risks of cancer, diabetes and heart diseases are driving more Indian consumers towards vegan food products.

The global Indian Vegan Food Market is estimated to be valued at US$ 1497.18 Mn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand for vegan food products is growing significantly among millennials. As more young Indians adopt a vegan lifestyle, the market for plant-based meat and dairy alternatives is gaining popularity rapidly. Technologies like texturizing proteins to resemble animal-based foods accurately are contributing to improved taste and texture of vegan foods. This is encouraging more experimentation with vegan diets. Rising awareness about environmental sustainability and animal welfare are also propelling the shift towards veganism in India. The Indian government's focus on reducing meat consumption and promoting plant-based diets to address health and sustainability issues further acts as a catalyst for the vegan food market in India.

Segment Analysis

Content: The Indian vegan food market is dominated by the dairy alternatives sub segment which holds around 30% market share. This is because Indians have dairy as an important part of their diet and vegan dairy alternatives help people avoid dairy but consume similar products. The packaged vegan food segment is another fast growing sub segment as packaged foods are convenient for urban consumers.

Key Takeaways

The Indian Vegan Food Market Size is expected to witness high growth. Regional analysis related content comprises Regional analysis related content

The Western region of India currently dominates the vegan food market of India holding around 35% share owing to growing health consciousness among people in cities like Mumbai and Pune. The Southern region is the fastest growing region due to increasing vegan population in cities like Bengaluru and Chennai.

Key players operating in the Indian vegan food market are One Good (formerly Goodmylk), GoodDot, EVO Foods, Ahimsa Food, Wakao Foods, Jus Amazin, So Good, Live Yum, Piper leaf, Soft Spot Food, Vega Lyfe, The Hershey Company, Sun Opta Inc., Living Harvest Food Inc., Pascual Group, Grub market, SunFed, Danone, and Whitewave Foods Company.

The Hershey Company has a strong presence in India selling vegan chocolates and snacks. Danone is another global player focusing on vegan yogurts and dairy alternatives catering to the Indian market.

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ashwini bakhade

The Surging Demand For Plant-Based Eating Drives The Indian Vegan Food Market

ashwinicmi 2024-01-11

Additionally, vegan foods are considered more eco-friendly and reduce carbon footprint as their production requires less energy, water and land. The global Indian vegan food market is estimated to be valued at US$ 1497. Porter's AnalysisThreat of new entrants: The threat of new entrants is moderate as the vegan food market is growing in India. The global Indian vegan food market is estimated to be valued at US$ 1497. The Western region dominates the Indian vegan food market currently due to the rising health concerns and increasing vegan population.

Investment and Funding Trends in the Indian Vegan Food Market

Ben Wood 2023-08-07

One of the key factors driving investment in the Indian vegan food market is the significant increase in the number of consumers adopting plant-based diets. Furthermore, the growth of the Indian vegan food market is also being fueled by a favorable regulatory environment and government support. The COVID-19 pandemic has also had an impact on investment trends in the Indian vegan food market. As the Indian vegan food market continues to evolve, it presents opportunities for investors to diversify their portfolios and participate in a burgeoning industry with tremendous growth potential. With a growing consumer base, favorable policies, and increased awareness of the environmental and ethical implications of food choices, the vegan food market in India is poised for continued expansion and innovation.

India's Vegan Food Market Estimated To Witness Strong Growth Owing To Rising Health Consciousness

Poonam 2024-01-17

The vegan food market includes products like plant-based meat, dairy alternatives, egg replacements, ready-to-eat meals and snacks. With growing awareness about health and environmental benefits of vegan diet, the demand for vegan food products is increasing exponentially in India. The global Indian vegan food market is estimated to be valued at US$ 1497. The global Indian Vegan Food Market is estimated to be valued at US$1497. Regional analysis comprises: The western region dominates the Indian vegan food market with over 30% value share in 2024.

Indian Vegan Food Market is Estimated to Witness High Growth Owing to Opportunity in Health-conscious Population

Purvaja 2024-02-08

The global Indian vegan food market is estimated to be valued at US$ 1724. Leading food brands are launching innovative plant-based food products to cater to the rising demand from health-conscious consumers, which is expected to propel the Indian vegan food market growth over the forecast period. Bargaining power of buyers: Buyers in the Indian vegan food market have moderate to high bargaining power due to the availability of substitutes. Key Takeaways The Global Indian Vegan Food Market Demand is expected to witness high growth over the forecast period due to changing lifestyle and eating patterns in India. The presence of key cities like Mumbai and Pune with rising health awareness is driving the growth of the vegan food market in this region.

Indian Vegan Food Market Is Estimated To Witness High Growth Owing To Shift Towards Plant-Based Diets

Anjali CMI 2023-09-01

The global Indian Vegan Food Market is estimated to be valued at US$16. The market offers a wide range of vegan food products such as plant-based meat substitutes, dairy alternatives, plant-based snacks, and desserts. This political support is expected to drive the growth of the Indian Vegan Food Market. This higher disposable income is enabling consumers to spend more on premium and healthier food options, including vegan food products. - In terms of regional analysis, India is expected to be the fastest-growing and dominating region in the Indian Vegan Food Market.

A Deep Dive into the Sustaining Trends and Emerging Opportunities within the Indian Vegan Food Market: An In-Depth Market Study

Mia Yates 2024-02-01

This report aims to provide insights into the key trends, market dynamics, Porter's analysis, and key takeaways shaping the Indian Vegan Food Market. Celebrity Endorsements: Influential figures and celebrities advocating for veganism have significantly contributed to the mainstream acceptance of vegan food products. Government Initiatives: Government initiatives promoting sustainable agriculture and healthy eating habits have further boosted the demand for vegan food products. Supply Chain Challenges: Procurement of quality ingredients, distribution logistics, and shelf-life maintenance pose challenges to manufacturers and retailers operating in the Indian Vegan Food Market. In conclusion, the Indian Vegan Food Market presents significant opportunities for growth amidst changing consumer preferences and increasing awareness of health and environmental concerns.

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