Expert Market Research’s new report titled “Indian vegan food market Report and Forecast 2021-2026′, gives an in-depth analysis of the Indian vegan food market, assessing the market based on its segments, distribution channels and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 15.4 billion
- Forecast CAGR (2021-2026): 26%
In the Asia-Pacific region, India is one of the largest vegan food markets. Demand for vegan fast food alternatives such as chips, cookies, muffins, chocolates, ice cream and soy milk shakes and baked goods is expected to increase, propelling the business forward. Growing consumer awareness of healthy lifestyles, such as how to eat healthier, lose weight, and reduce cholesterol and fat, may contribute to the growth of vegan food products, such as vegan-based foods. of plants in the market.
Vegan chocolates are becoming increasingly popular due to their multiple health benefits, including reducing plaque and fat in the arteries and boosting the immune system against a wide range of bacterial and viral diseases, which could help the vegan food market grow in India. Additionally, industry players are launching a selection of high-quality vegan food products in a variety of flavors and attractive packaging to attract wider customer base, which is expected to drive the market growth.
Industry definition and major segments
Veganism refers to a vegetarian diet that excludes meat, dairy products, eggs, and other animal components such as honey, collagen, and gelatin. Animal products and by-products such as fat, broth, caviar, eggs, eggs, milk, cheese, and meat are all avoided on a vegan diet.
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By product type, the industry is segmented as follows:
- Dairy alternatives
- Meat substitutes
- Alternatives to Eggs
- Vegan bakery
- Plant based snacks
The distribution channel of the Indian vegan industry consists of the following:
- convenience stores
- Specialty stores
- On line
The report also covers Indian regional markets such as:
- South India
Plant-based foods are well positioned to bridge socio-cultural divides in India, driven by a growing middle class, increased awareness of global trends and the need for protein transitions for human and planetary health, as well as deep cultural views on meat consumption among the diverse population of India. The expansion of the vegan market in India is expected to be facilitated by an increase in restaurants catering to the vegan community. The growth of the market is expected to be aided by the increasing penetration of global companies in the region.
Main market players
Major market players include VegaLyfe, The Hershey Company, Piperleaf, Good Dot, Ahimsa Food (Veggie Champ) and Soft Spot Foods. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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