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Indian Vegan Food Market Size to Reach US$ 2,756.6 Mn by 2031 | One Good (formerly Goodmylk), GoodDot

07-24-2024 12:30 PM CET | Food & Beverage

Press release from: CMI

Indian Vegan Food Market

Indian Vegan Food Market

Market Overview:

Indian vegan food market was valued at US$ 1,372.3 Mn in 2022 and is expected to reach US$ 2,756.6 Mn by 2030, exhibiting a CAGR of 9.1% during the forecast period 2023-2030.

Market Dynamics:

The Indian vegan food market is expected to witness significant growth over the forecast period, driven by rising health consciousness among Indian consumers and growing awareness about the environmental and ethical benefits of a vegan diet. According to a recent survey, nearly 24% of Indians are actively reducing their meat consumption due to health and environmental concerns. Moreover, growing concerns about animal welfare have led many flexitarians and semi-vegans to decrease their intake of animal products. The entry of global vegan brands in the Indian market along with initiation of vegan food festivals and menus at restaurants is further promoting veganism in the country.

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Key drivers for growth of the Indian vegan food market

Health consciousness leading to increasing number of flexitarians and vegans

There has been a growing health and wellness trend in India in the past few years. With increasing knowledge about the benefits of plant-based diet and concerns over health issues like diabetes, cardiovascular diseases etc, many Indians have adopted a more flexitarian or semi-vegetarian lifestyle. They have reduced or eliminated consumption of meat, dairy and eggs. This has created demand for tasty and healthy vegan food options.

Opportunity for vegan food sector

Rise of startups and entrepreneurs tapping into growing demand

Seeing the huge untapped opportunity, many new startups are coming up with innovative vegan food products and restaurant concepts in India. These range from vegetarian and vegan packaged foods, snacks, beverages to vegan bakeries and fine dining restaurants. Traditional businesses are also realising the potential and launching their own vegan sub-brands. This entrepreneur culture is helping the sector grow by introducing new products and experiences for Indian vegans and flexitarians.

Key emerging trend in Indian vegan food market

Rise of Indian vegan fusion cuisine

Indian cuisine is ideally suited for vegan adaptations, given its array of plant-based ingredients and diverse regional food cultures. Emerging trend shows increasing experiments with Indian vegan fusion cuisine - recreating classic non-vegetarian Indian dishes using plant proteins, vegan versions of Indian street foods and more. This makes vegan diet culturally appealing and familiar for Indian audiences. Rising popularity of indigenous vegan recipes indicates immense scope for unique Indian vegan cuisine to capture mainstream market.

πŸ’Ž You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/5428

Top Companies Included in This Report:

β˜… One Good (formerly Goodmylk)
β˜… GoodDot
β˜… EVO Foods
β˜… Ahimsa Food
β˜… Wakao Foods
β˜… Jus Amazin
β˜… So Good
β˜… Live Yum
β˜… Piper leaf
β˜… Soft Spot Food
β˜… Vega Lyfe
β˜… The Hershey Company
β˜… Sun Opta Inc.
β˜… Living Harvest Food Inc.
β˜… Pascual Group
β˜… Grub market
β˜… SunFed
β˜… Danone
β˜… Whitewave Foods Company

Market Segmentation:

By Product Type:

β˜… By Product: Dairy Alternatives (Cheese, Snacks, Desert, Others), Meat Substitutes (Tofu, Seitan, Quorn, Others)
β˜… By Source: Almonds, Oats, Wheat, Others
β˜… By Distribution Channels: Offline (Supermarket, Hypermarket), Online, Specialty Stores

Key Regions/Countries are Classified as Follows:

Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

πŸ’Ž Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5428

The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Indian Vegan Food Market by Players

Chapter 4: Market Size of the Indian Vegan Food Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Indian Vegan Food Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Indian Vegan Food industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

Contact Us

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About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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