As a part of a balanced diet, vegan food is healthier than animal-derived meat when eaten in moderation. Soybean is one of the main ingredients in vegan food. Apart from that, wheat, yeast, and sugar are also used in vegan food. Vegan Food is also a good source of sodium as well as vitamins such as B1, B6 and B2.
The Indian Vegan Food Market was valued at US$ 16.5 Billion and is expected to reach US$ 33.3 Billion by 2030, and is expected to exhibit a CAGR of 8.1% during the years (2022-2030)
Market Leaders in the Indian Vegan Food Industry:
1) Danone
Danone S.A. is a French multinational food products corporation situated In Paris. The company is known for its products like, dietary supplements, Baby food, coffee, bottled water. Etc. The company was founded in the year 1919, in Barcelona, Spain and the headquarters are located in Boulevard 9th arrondissment, Paris. Danone was founded by Isaac Carasso.
2) Pascual Group
Calidad Pascual S.A.U. formerly known as Grupo Leche Pascual is a Spanish dairy company that produces dairy products. The company was founded in the year 1969, and the headquarters are located in Madrid, Spain. The company was founded by Tomas Pascual.
In January 2021, Calidad Pascual completed the acquisition of Priegola, a manufacturer of fresh milk for an undisclosed amount.
3) Sun Opta
Sun Opta is a multinational food and mineral company that company produces shelf stable products that are plant-based beverages like soymilk, almond milk, oatmilk. The company specializes in sourcing, processing and packaging of natural and organic food products. The company was founded in the year 1973, and the headquarters are located in Eden Prairie, Minnesota, U.S.
In February 2023, The Company achieved the California Green Business Certificate and Zero Waste to Landfill at Modesto Manufacturing Facility.
4) The Hershey Company
The Hershey Company, commonly known as Hershey’s is a multinational company and one of the largest chocolate manufactures in the world. The company also manufactures other products such as cookies, cakes and sells beverages. The company was founded in the year 1894 by Milton S. Hershey and the headquarters are located in Chocolate Avenue, Hershey, Pennsylvania, U.S.
In June 2021, Hershey completed the acquisition of Lily’s for US$ 425 Million. In November 2021, Hershey announced its plans to acquire Dot’s Pretzels, and their co-packer, Pretzel INC for $1.2 Billion.
5) EVO Foods
EVO Foods is a company that provides plant-based egg substitute food products. The company’s liquid plant-based egg is made using moong beans and peas with patent pending technology. It offers protein content, micronutrients including Vitamin B12, and more. The company was founded in the year 2020 in Mumbai, India.
In May 2022, Evo foods partnered with Ginko Bioworks on animal-free eggs.
*Definition: Indian Vegan Food includes several vegan products such as, Plant-based meals, dairy free, cheese, milk and others.
