According to IMARC Group’s latest report, titled “India Vegan Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, the India vegan food market size reached US$ 1,324 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,463 Million by 2028, exhibiting a growth rate (CAGR) of 10.9% during 2023-2028.

Year Considered to Estimate the Market Size:

• Base Year of the Analysis: 2022
• Historical Period: 2017-2022
• Forecast Period: 2023-2028

A vegan diet involves the consumption of plant-based products, including grains, nuts, seeds, fruits, beans, pulses, vegetables, etc. These products are rich in antioxidants, fiber, potassium, magnesium, folate, protein, complex carbohydrates, minerals, and vitamins A, C, and E. Vegan food provides numerous health benefits, which comprise lowering cholesterol levels, and reducing the risk of cancer, managing type 2 diabetes, heart diseases, and other medical ailments. They aid in minimizing the pain of arthritis, boosting mood, promoting weight loss, controlling A1C levels, and improving skin health.

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India Vegan Food Market Trends:

The increasing awareness among individuals about the benefits of vegan food as compared to animal-based food products is among the key factors stimulating the India vegan food market. Moreover, the growing prevalence of chronic diseases and the rising health consciousness among consumers are acting as significant growth-inducing factors. Besides this, restaurants and fast-food chains are offering vegan meat, burritos, pizza, ice cream, waffles, cookies, brownies, etc., which is positively influencing the market growth. Furthermore, the introduction of packaged, dairy-free chocolates, cheese, fat spreads, milk, breakfast cereals, and unsweetened soya drinks that are strengthened with vitamin D by leading players is also propelling the market growth across the country. Apart from this, the inflating number of the masses with lactose intolerance is further fueling the market growth. Additionally, the launch of initiatives for using sustainable diets featuring plant-based foods by the government to aid fight climate change and other environmental issues caused by animal agriculture and fishing is anticipated to drive the India vegan food market over the forecasted period.

Key Market Segmentation:

The report has segmented the India vegan food market based on product, source, distribution channel and region.

Breakup by Product:

• Dairy Alternatives
  • Cheese
  • Dessert
  • Snacks
  • Others
• Meat Substitutes
  • Tofu
  • TVP
  • Seiten
  • Quorn
  • Others
• Others

 Breakup by Source:

• Almond
• Soy
• Oats
• Wheat
• Others

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others

Breakup by Region:

• North India
• West and Central India
• South India
• East India

Competitive Landscape With Key Players:

The competitive landscape of the India vegan food market has been studied in the report with the detailed profiles of the key players operating in the market.

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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