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India Vegan Food Market Share, Size, Analysis, Growth: By Product: Dairy Alternatives, Meat Substitutes, Egg Alternatives, Vegan Bakery, Confectionery, Plant-Based Snacks, Others; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Speciality Stores, Online; Regional Analysis; Competitive Landscape; 2023-2028
India Vegan Food Market Outlook
The India vegan food market is expected to grow in the forecast period of 2023-2028 at a CAGR of 8.6%.
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The Vegan Food Market in India to be Bolstered by Changing Diet Patterns
India is one of the leading vegan food markets in the Asia Pacific region. The increasing demand for vegan fast-food alternatives such as chips, biscuits, muffins, chocolates, soymilk ice cream and shakes, and bakery items is expected to boost the market growth. Growing consumer awareness of healthy lifestyles, such as how to eat a healthier diet, lose weight, and lower cholesterol and fat, can help vegan food products, such as plant-based vegan foods, grow further within the industry. Vegan chocolates are becoming increasingly popular due to their numerous health benefits, including the reduction of plaque and fat in arteries, as well as the strengthening of the immune system against a wide range of bacterial and viral infections, which could accelerate the vegan food market growth in India. Furthermore, industry players are introducing a range of high-quality vegan food products in a variety of flavours and enticing packaging to appeal to a broader customer base, which is expected to support the market growth.
Vegan Food: Market Segmentation
Veganism is a vegetarian diet that does not include meat, dairy, eggs, or any other animal-derived ingredients like honey, collagen, or gelatin. Vegan food products avoid animal products and by-products like fat, stock, caviar, roe, eggs, milk, cheese, and meat, among others.
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By product type, the industry is segmented into the following:
- Dairy Alternatives
- Milk
- Cheese
- Yoghurt
- Desserts
- Others
- Meat Substitutes
- Tofu
- Textured Vegetable Protein (TVP)
- Seiten
- Quorn
- Others
- Egg Alternatives
- Vegan Bakery
- Confectionery
- Plant-Based Snacks
- Others
The distribution channels for the India vegan food market include the following:
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
The report also covers the Indian regional markets for vegan food like North India, East and Central India, West India, and South India.
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Growing Awareness of Veganism to Boost the Market Demand
Plant-based foods are well-positioned to bridge the socio-cultural divides in India due to a growing middle class, increased knowledge of global trends, and the need for protein transitions for human and planetary health, as well as deep-seated cultural views on meat consumption among India's diverse population. The increase in restaurants catering to the vegan population is expected to further propel the growth of the market in India. The growing penetration of global players in the region is expected to further support the market growth.
Key Industry Players in the India Vegan Food Market
The report gives a detailed analysis of the following key players in the India vegan food market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- One Good
- GoodDot
- EVO Foods
- Ahimsa Vegan Foods Inc.
- Dhond Group Green Infra LLP
- Piperleaf India Private Limited
- Soft Spot Foods Inc.
- Jus Amazin Food and Beverages Pvt. Ltd
- Vezlay Foods Pvt. Ltd.
- The Hershey Company
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Vegan Food Market Overview
8.1 Key Industry Highlights
8.2 Global Vegan Food Historical Market (2018-2022)
8.3 Global Vegan Food Market Forecast (2023-2028)
8.4 Global Vegan Food Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Vegan Food Market Overview
9.1 Key Industry Highlights
9.2 India Vegan Food Historical Market (2018-2022)
9.3 India Vegan Food Market Forecast (2023-2028)
10 India Vegan Food Market by Product
10.1 Dairy Alternatives
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.1.4 Breakup by Dairy Alternative Type
10.1.4.1 Milk
10.1.4.2 Cheese
10.1.4.3 Yoghurt
10.1.4.4 Desserts
10.1.4.5 Others
10.2 Meat Substitutes
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.2.4 Breakup by Meat Substitute Type
10.2.4.1 Tofu
10.2.4.2 Textured Vegetable Protein (TVP)
10.2.4.3 Seiten
10.2.4.4 Quorn
10.2.4.5 Others
10.3 Egg Alternatives
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Vegan Bakery
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Confectionery
10.5.1 Market Share
10.5.2 Historical Trend (2018-2022)
10.5.3 Forecast Trend (2023-2028)
10.6 Plant-Based Snacks
10.6.1 Market Share
10.6.2 Historical Trend (2018-2022)
10.6.3 Forecast Trend (2023-2028)
10.7 Others
11 India Vegan Food Market by Distribution Channel
11.1 Supermarkets and Hypermarkets
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Convenience Stores
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 Speciality Stores
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 Online
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
12 India Vegan Food Market by Region
12.1 North India
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 East and Central India
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 West India
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 South India
12.4.1 Market Share
12.4.2 Historical Trend (2018-2022)
12.4.3 Forecast Trend (2023-2028)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 One Good
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 GoodDot
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 EVO Foods
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Ahimsa Vegan Foods Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Dhond Group Green Infra LLP
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Piperleaf India Private Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Soft Spot Foods Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Jus Amazin Food and Beverages Pvt. Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Vezlay Foods Pvt. Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 The Hershey Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Vegan Food Market: Key Industry Highlights, 2018 and 2028
2. India Vegan Food Market: Key Industry Highlights, 2018 and 2028
3. India Vegan Food Historical Market: Breakup by Product (USD Million), 2018-2022
4. India Vegan Food Market Forecast: Breakup by Product (USD Million), 2023-2028
5. India Vegan Food Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
6. India Vegan Food Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
7. India Vegan Food Historical Market: Breakup by Region (USD Million), 2018-2022
8. India Vegan Food Market Forecast: Breakup by Region (USD Million), 2023-2028
9. India Vegan Food Market Structure
Key Questions Answered in the Report
The Indian vegan food market is projected to grow at a CAGR of 8.6% between 2023 and 2028.
The major drivers propelling the industry are the growing middle-class population, increased knowledge of global trends, need for protein transitions for human and planetary health, and deep-seated cultural views on meat consumption among India's diverse population.
The key trends furthering the market’s expansion are the growing number of restaurants catering to the vegan community and growing consumer awareness of healthy lifestyles.
The major regions in the market are North India, East and Central India, West India, and South India.
Dairy alternatives, meat substitutes, egg alternatives, vegan bakery, confectionery, and plant-based snacks, among others are the major product types in the market. Among these, dairy alternatives are further segmented into milk, cheese, yoghurt, and desserts, among others while meat substitutes are sub-divided into tofu, textured vegetable protein (TVP), seiten, and quorn, among others.
The distribution channels in the market are supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major players in the industry are One Good, GoodDot, EVO Foods, Ahimsa Vegan Foods Inc., Dhond Group Green Infra LLP, Piperleaf India Private Limited, Soft Spot Foods Inc., Jus Amazin Food and Beverages Pvt. Ltd, Vezlay Foods Pvt. Ltd., and The Hershey Company, among others.
Analyst Review
The India vegan food market is expected to grow in the forecast period of 2023-2028 at a CAGR of 8.6%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product types, the India vegan food market can be segmented into dairy alternatives, meat substitutes, egg alternatives, vegan bakery, confectionery, and plant-based snacks, among others. Among these, dairy alternatives are further segmented into milk, cheese, yoghurt, and desserts, among others while meat substitutes are sub-divided into tofu, textured vegetable protein (TVP), seiten, and quorn, among others. On the basis of distribution channels, supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others are the various segments. The major regional markets for the India vegan food are North India, East and Central India, West India, and South India. The key players in the above market include One Good, GoodDot, EVO Foods, Ahimsa Vegan Foods Inc., Dhond Group Green Infra LLP, Piperleaf India Private Limited, Soft Spot Foods Inc., Jus Amazin Food and Beverages Pvt. Ltd, Vezlay Foods Pvt. Ltd., and The Hershey Company, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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