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.

Market Dynamics

The consumption of vegan food products prevent the risk of type-2 diabetes and cardiovascular diseases. For improving the quality of products and increasing demand of customers, the manufactures are using innovative ingredients as well as processes in their products such as ready to eat products which is driving the vegan food market growth during the forecast period. For instance, in March 2022, Indian plant-based dairy startup, ‘One Good’ (Formerly Goodmylk) acquired the domestic nutrition brand ‘PRO2FIT’. The main goal of One Good (Formerly Goodmylk) is to make eco-friendly food choices at affordable prices across India. Furthermore, in December 2020, Ahimsa Food, a plant-based meat manufacturing company developed a Veggie Champ Brand. Under this brand, Ahimsa Food offers curry products such as Vegan Classic Chicken, Mock Mutton, Mock Duck, mock fish fillet, pepper salami, and vegan burgers made with a mixer of soy, milk, wheat protein, mustard, and spices.

Key features of the study:

• This report provides an in-depth analysis of the Indian vegan food market, its market size (US$ Bn), and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering as the base year
• It elucidates potential revenue opportunity across different segments and explains an attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new material type launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the vegan food market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include One Good (formerly Goodmylk), GoodDot, EVO Foods, Ahimsa Food, Wakao Foods, Jus Amazin, So Good, Live Yum, Piper leaf, Soft Spot Food, Vega Lyfe, The Hershey Company, Sun Opta Inc., Living Harvest Food Inc., Pascual Group, Grub market, SunFed, Danone, and Whitewave Foods Company
• Insights from this report would allow marketers and management authorities of companies to make an informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
• The Indian vegan food market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Indian vegan food market

Detailed Segmentation:

• Indian Vegan Food Market, By Product
  • Dairy Alternatives
    • Cheese
    • Snacks
    • Desert
    • Others
  • Meat Substitutes
    • Tofu
    • Seitan
    • Quorn
    • Others
• Indian Vegan Food Market, By Source
  • Almonds
  • Oats
  • Wheat
  • Others
• Indian Vegan Food Market, By Distribution Channels
  • Offline
    • Supermarket
    • Hypermarket
  • Online
  • Specialty Stores
• Indian Vegan Food Market, By Sector:
  • North India
  • South India
  • East India
  • West & Central India
• Company Profiles
  • One Good (Formerly Goodmylk)*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • GoodDot
  • EVO Foods
  • Ahimsa Food
  • Wakao Foods
  • Jus Amazin
  • So Good
  • Live Yum
  • Piper leaf
  • Soft Spot Food
  • Vega Lyfe
  • The Hershey Company
  • Sun Opta Inc.
  • Living Harvest Food Inc.
  • Pascual Group
  • Grub Market
  • SunFed
  • Danone
  • Whitewave Foods Company

“*” marked represents similar segmentation in other categories in the respective section.