The Indian Vegan Food Market was valued at US$ 1,372.3 Mn in 2022. According to Indian Vegan Food Market, By by Product (Dairy Alternatives (Cheese, Desert, Snacks, and Others) and Meat Substitutes (Tofu, Seitan, Quorn, and Others)), by Source (Almond, Soy, Wheat, Oats, and Others), by Distribution Channels (Offline (Hypermarket and Supermarket), Online, and Specialty Stores), and by Sub-region (North India, South India, East India, and West India) as published by Coherent Market Insights.
The Indian vegan food market is expected to surpass US$ 2,756.6 Mn by 2030 and exhibit a CAGR of 9.1% during the forecast period 2022-2030.
Vegan food is generally healthy and is a popular choice for chefs to add flavor and excitement to their dishes or menus. Most vegan food such as vegan bacon, vegan yogurt, and others have healthy fats, a considerable amount of protein, and fiber. Without any animal cruelty, vegan food offers all the flavor of the food. Thus, it is being incorporated into a variety of ready-to-eat processed food items by food manufacturers. The vegan food market has been growing in recent years due to more people looking for plant-based alternatives to meat and dairy products. In the market there are various vegan food brands are available, most vegan foods are made from soy or seitan and they can be stored in refrigerated sections of grocery shops which helps to increase the sales of vegan food.
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Browse 50 market data tables* and 40 figures* on "Global Indian Vegan Food Market”- Global Forecast to 2030.
Key Trends and Analysis of the Global Indian Vegan Food Market:
- Among sector, North India is the largest vegan food market, owing to increasing awareness about vegan food among consumer’s and high disposable income. Vegan food market in India is expected to grow at a rapid pace during the forecast period due to increasing demand for functional food, a desire for a healthy & active lifestyle among the Indian population.
- The rapid shift towards vegan food and products is playing a key role in the growth of the Indian vegan food market in the country. Moreover, increasing animal welfare and food processing concerns consumers are helps to boost the market growth. Currently, restaurants and fast food chains are offering vegan meat, waffles, burritos, pizza, ice cream, cookies, and brownies, which is expected to drive the market growth. For instance, in Mumbai the restaurant namely Earthlings Café is famous for vegan breakfast. They can offer different dishes such as Chana masala, Kofta, Poha, and others.
Key Takeaways of the Global Indian Vegan Food Market:
- Among distribution channel, offline segment held a dominant position in the Indian vegan food market in 2021. The availability of various varieties and a wide range of products in hypermarkets and supermarkets is expected to boost the market growth in upcoming years.
- For instance, in March 2022, India’s largest samosa brand, ‘Samosa Party’ announced their partnership with India’s leading plant-based meat manufacturing company, ‘GoodDot’. This partnership aims to provide cruelty-free, plant-based meat products to its customers.