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

 
Indian Vegan Food Market 

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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