INDIAN VEGAN FOOD MARKET ANALYSIS

Market Challenges And Opportunities

Indian Vegan Food Market- Drivers

• The rising production and consumption of mushrooms such as button mushrooms, oyster mushrooms, and others: The rising production and consumption of mushrooms such as button mushrooms, oyster mushrooms, and others is also expected to drive the market growth in the coming years. For instance, in November 2022, the Goa-based sustainable startup, ‘Wakao Foods’ launched Jackfruit meat that caters to ‘Ready-to-eat’ and ‘Ready-to-Cook’ products in the Indian market. The jackfruit meat offerings are hot & spicy and American herb sausages are handpicked from farms and hygienically manufactured, which helps to increase the sales of vegan food in the Indian vegan food market. Increasing demand for vegan food products such as tofu, bread, rice, dry pasta, and others is also boosting the market growth. In August 2021, Piper leaf, a plant-based milk chocolate manufacture company announced to launch of new five flavoring chocolate, Zesty Orange, Classic Coffee, Banana Walnut, Raspberry Cinnamon, and Nut & Raisin in the Indian market. The chocolates are gluten & animal cruelty-free as well as no artificial flavors and additives will be added. The chocolates are 100% naturally made and give healthy alternatives to the consumers

Indian Vegan Food Market- Restraints

• Vegan foods are highly processed foods that can restrain market growth. However, they tend to be high in sodium. Vegan foods contain iron, but it is of a 'low-heme' variety, which does not get consumed into the body properly. Therefore, vegans are at a high risk of iron deficiency, which can cause several symptoms such as fatigue.