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India Vegan Food Market: By Product Type: Dairy Alternatives, Meat Substitutes, Egg Alternatives, Vegan Bakery, Confectionery, Plant-Based Snacks, Others; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
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
- TVP
- Seiten
- Quorn
- Others
- Egg Alternatives
- Vegan Bakery
- Confectionery
- Plant-Based Snacks
- Others
The distribution channel for the India vegan industry includes the following:
- Supermarkets/Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
- Others
The report also covers the Indian regional markets like North, East, West, 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:
- VegaLyfe
- The Hershey Company
- Piperleaf
- Good Dot
- Ahimsa Food (Veggie Champ)
- Soft Spot Foods
- 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.
| 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- Product Type, Distribution Channel, Region |
| Breakup by Product Type | Dairy Alternatives, Meat Substitutes, Egg Alternatives, Vegan Bakery, Confectionery, Plant-Based Snacks, Others |
| Breakup by Distribution Channel | Supermarkets/Hypermarkets, Convenience Stores, Speciality Stores, Online, Others |
| Breakup by Region | North India, East India, West India, South India |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | VegaLyfe, The Hershey Company, Piperleaf, Good Dot, Ahimsa Food (Veggie Champ), Soft Spot Foods, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Snapshot
6.1 India
7 Industry Opportunities and Challenges
8 India Vegan Food Market Analysis
8.1 Key Industry Highlights
8.2 India Vegan Food Historical Market (2018-2022)
8.3 India Vegan Food Market Forecast (2023-2028)
8.4 India Vegan Food Market by Product Type
8.4.1 Dairy Alternatives
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup of Type
8.4.1.4.1 Milk
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.2 Cheese
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Yoghurt
8.4.1.4.3.1 Market Share
8.4.1.4.3.2 Historical Trend (2018-2022)
8.4.1.4.3.3 Forecast Trend (2023-2028)
8.4.1.4.4 Desserts
8.4.1.4.4.1 Market Share
8.4.1.4.4.2 Historical Trend (2018-2022)
8.4.1.4.4.3 Forecast Trend (2023-2028)
8.4.1.4.5 Others
8.4.2 Meat Substitutes
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup of Type
8.4.2.4.1 Tofu
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 TVP
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.2.4.3 Seiten
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2018-2022)
8.4.2.4.3.3 Forecast Trend (2023-2028)
8.4.2.4.4 Quorn
8.4.2.4.4.1 Market Share
8.4.2.4.4.2 Historical Trend (2018-2022)
8.4.2.4.4.3 Forecast Trend (2023-2028)
8.4.2.4.5 Others
8.4.3 Egg Alternatives
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Vegan Bakery
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Confectionery
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Plant-Based Snacks
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 India Vegan Food Market by Distribution Channel
8.5.1 Supermarkets/Hypermarkets
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Convenience Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Speciality Stores
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Online
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 India Vegan Food Market by Region
8.6.1 Market Share
8.6.1.1 North
8.6.1.2 East
8.6.1.3 West
8.6.1.4 South
9 Regional Analysis
9.1 North
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 East
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 West
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 South
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 VegaLyfe
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 The Hershey Company
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Piperleaf
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Good Dot
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Ahimsa Food (Veggie Champ)
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Soft Spot Foods
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. India Vegan Food Market: Key Industry Highlights, 2018 and 2028
2. India Vegan Food Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. India Vegan Food Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. India Vegan Food Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
5. India Vegan Food Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
6. India Vegan Food Historical Market: Breakup by Region (USD Million), 2018-2022
7. India Vegan Food Market Forecast: Breakup by Region (USD Million), 2023-2028
8. India Vegan Food Market Structure
Key Questions Answered in the Report
The global vegan food market is projected to grow at a CAGR of 8.6% between 2023 and 2028 thereby aiding in the growth of the Indian vegan food market.
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 industry are North India, East 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 industry. Among these, dairy alternatives are further segmented into milk, cheese, yoghurt, and desserts, among others while meat substitutes are sub-divided into tofu, TVP, seiten, and quorn, among others.
The distribution channels in the market are supermarkets/hypermarkets, convenience stores, speciality stores, and online, among others.
The major players in the industry are VegaLyfe, The Hershey Company, Piperleaf, Good Dot, Ahimsa Food (Veggie Champ), and Soft Spot Foods, 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 industry 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, TVP, seiten, and quorn, among others. On the basis of distribution channels, supermarkets/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 India, West India, and South India. The key players in the above market include VegaLyfe, The Hershey Company, Piperleaf, Good Dot, Ahimsa Food (Veggie Champ), and Soft Spot Foods, 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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