According to IMARC Group’s latest report, titled “India Vegan Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, the India vegan food market is expected to exhibit a CAGR of 11.32% during 2022-2027. Vegan food refers to plant-based alternatives for dairy and meat. They include tofu, textured vegetable protein (TVP), cheese, seitan, quorn, etc. These vegan food products are rich sources of antioxidants, fiber, protein, potassium, folate, magnesium, minerals, complex carbohydrates, vitamin A, vitamin C, vitamin E, etc. They help to lower cholesterol levels, manage type 2 diabetes, reduce the risk of cancer and heart ailments, minimize the pain of arthritis, boost energy, promote, weight loss, and improve skin health, etc. As a result, vegan diet items are in extensive demand among consumers in India.
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India Vegan Food Market Trends:
The growing awareness among people about the health benefits of vegan food in comparison to animal-based food products is among the key factors driving the India vegan food market.
The emerging trend among restaurants and fast-food chains of offering vegan meat, pizza, waffles, burritos, ice cream, cookies, brownies, etc., is also positively influencing the market across the country.
The rising number of individuals suffering from lactose intolerance and the introduction of packaged and dairy-free milk, chocolates, cheese, fat spreads, breakfast cereals, unsweetened soya drinks, etc., fortified with vitamin D by leading market players are acting as significant growth-inducing factors.
The launch of several favorable policies by the government bodies aimed at promoting the adoption of a sustainable diet featuring plant-based foods that help fight climate change and other environmental issues caused by fishing activities and animal agriculture is expected to propel the India vegan food market in the coming years.
Key Market Segmentation:
The report has segmented the India vegan food market based on product, source, distribution channel and region.
Breakup by Product:
- Dairy Alternatives
- Cheese
- Dessert
- Snacks
- Others
- Meat Substitutes
- Tofu
- TVP
- Seiten
- Quorn
- Others
- Others
Breakup by Source:
- Almond
- Soy
- Oats
- Wheat
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape With Key Players:
The competitive landscape of the India vegan food market has been studied in the report with the detailed profiles of the key players operating in the market.
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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