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Report
India Vegan Food Market Report and Forecast 2024-2032
Market Report I 2023-12-23 I 182 Pages I EMR Inc.
India Vegan Food Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the India vegan food market is projected to grow at a CAGR of 8.6% between 2024 and 2032. Aided by the surging health consciousness and ethical concerns towards animal welfare, the market is expected to grow significantly by 2032.
Vegan food refers to products that are completely devoid of animal-derived ingredients, including meat, dairy, and eggs. The Indian market is witnessing a notable shift towards vegan food, driven by various factors including health, environment, and ethical considerations. Indian cuisine, traditionally rich in plant-based ingredients, provides a conducive ground for the vegan market to thrive.
The rising awareness of the health benefits of a plant-based diet is a significant driver of the India vegan food market growth. With the increasing prevalence of lifestyle diseases such as obesity, diabetes, and heart conditions, there is a growing inclination towards healthier dietary choices, leading to a surge in the adoption of vegan diets. Additionally, the growing fitness culture in India has further amplified the demand for vegan food products, as they are perceived to be cleaner and more natural.
Environmental concerns are also influencing the India vegan food market outlook. The awareness of the detrimental impact of animal agriculture on the environment, including deforestation, greenhouse gas emissions, and water usage, is encouraging individuals to opt for vegan food, thereby contributing to the market growth.
Ethical considerations regarding animal welfare are another driving force behind the rise of veganism in India. The increasing exposure to global animal rights movements and the ethical debates surrounding the consumption of animal products have led to a heightened sense of empathy towards animals, thus fostering the demand for vegan products.
The India vegan food market demand is further fuelled by the introduction of a diverse range of vegan products in the Indian market. From vegan dairy alternatives such as almond milk and soy cheese to meat substitutes made from plant-based proteins, the variety and accessibility of vegan products have significantly improved. The availability of these products in supermarkets, health food stores, and online platforms has made it convenient for consumers to adopt a vegan lifestyle.
In addition, the burgeoning food service industry in India, including restaurants and cafes, is increasingly incorporating vegan options in their menus, thereby making vegan food more mainstream and accessible to a wider audience.
Market Segmentation
The market can be divided based on product, distribution channel, and region.
Market Breakup by Product
- Dairy Alternatives
o Milk
o Cheese
o Yoghurt
o Desserts
o Others
- Meat Substitutes
o Tofu
o Textured Vegetable Protein (TVP)
o Seiten
o Quorn
o Others
- Egg Alternatives
- Vegan Bakery
- Confectionery
- Plant-Based Snacks
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India vegan food market. Some of the major players explored in the report by Expert Market Research are as follows:
- One Good
- GoodDot
- EVO Foods
- Ahimsa Vegan Foods Inc.
- Dhond Group Green Infra LLP
- Piperleaf India Private Limited
- Soft Spot Foods Inc.
- Jus Amazin Food and Beverages Pvt. Ltd
- Vezlay Foods Pvt. Ltd.
- The Hershey Company
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Vegan Food Market Overview
8.1 Key Industry Highlights
8.2 Global Vegan Food Historical Market (2018-2023)
8.3 Global Vegan Food Market Forecast (2024-2032)
8.4 Global Vegan Food Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Vegan Food Market Overview
9.1 Key Industry Highlights
9.2 India Vegan Food Historical Market (2018-2023)
9.3 India Vegan Food Market Forecast (2024-2032)
10 India Vegan Food Market by Product
10.1 Dairy Alternatives
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Dairy Alternative Type
10.1.3.1 Milk
10.1.3.2 Cheese
10.1.3.3 Yoghurt
10.1.3.4 Desserts
10.1.3.5 Others
10.2 Meat Substitutes
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Meat Substitute Type
10.2.3.1 Tofu
10.2.3.2 Textured Vegetable Protein (TVP)
10.2.3.3 Seiten
10.2.3.4 Quorn
10.2.3.5 Others
10.3 Egg Alternatives
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Vegan Bakery
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Confectionery
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Plant-Based Snacks
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Others
11 India Vegan Food Market by Distribution Channel
11.1 Supermarkets and Hypermarkets
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Convenience Stores
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Speciality Stores
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Online
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 India Vegan Food Market by Region
12.1 North India
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 East and Central India
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 West India
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 South India
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter's Five Forces Analysis
13.2.1 Supplier's Power
13.2.2 Buyer's Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 One Good
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 GoodDot
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 EVO Foods
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Ahimsa Vegan Foods Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Dhond Group Green Infra LLP
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Piperleaf India Private Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Soft Spot Foods Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Jus Amazin Food and Beverages Pvt. Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Vezlay Foods Pvt. Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 The Hershey Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vegan Food Market: Key Industry Highlights, 2018 and 2032
2. India Vegan Food Market: Key Industry Highlights, 2018 and 2032
3. India Vegan Food Historical Market: Breakup by Product (USD Million), 2018-2023
4. India Vegan Food Market Forecast: Breakup by Product (USD Million), 2024-2032
5. India Vegan Food Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
6. India Vegan Food Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
7. India Vegan Food Historical Market: Breakup by Region (USD Million), 2018-2023
8. India Vegan Food Market Forecast: Breakup by Region (USD Million), 2024-2032
9. India Vegan Food Market Structure
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