Indian Vegan Food Market, By Product (Dairy Alternatives, Meat Substitutes ), By Source, By Distribution Channels (Offline, Online, Specialty Stores)

Description

Indian vegan food market was valued at US$ 1,372.3 Mn in 2022 and is expected to reach US$ 2,756.6 Mn by 2030, exhibiting a CAGR of 9.1% during the forecast period 2023-2030.

Report Coverage		Report Details
Base Year:	2022	Market Size in 2023:	US$ 1,372.3 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	9.10%	2030 Value Projection:	US$ 2,756.6 Mn

Figure 1. Indian Vegan Food Market Value Share (%), By Region, 2022

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$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2023-2030), 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:

By Product Type:
- Dairy Alternatives
- Cheese
- Snacks
- Desert
- Others
- Meat Substitutes
- Tofu
- Seitan
- Quorn
- Others
By Source :
- Almonds
- Oats
- Wheat
- Others
By Distribution Channels
- Offline
- Supermarket
- Hypermarket
- Online
- Specialty Stores
By Sector:
- North India
- South India
- East India
- West & Central India
Company Profiles
- 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
- Danon
- Whitewave Foods Company

Product Code: CMI5428

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Source
- Market Snippet, By Distribution Channel
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
Rising production and consumption of mushroom such as button mushroom, oyster mushroom, and others across the India
Increasing demand for plant-based food products such as tofu, bread, rice, dry pasta, and others
- Restraints
Highly Processed food.
PEST Analysis
PORTER's Five Forces Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends

4. Indian Vegan Food Market- Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Indian Vegan Food Market, By product, 2018-2030, (US$ Million)

Introduction
- Market Share Analysis, 2022, 2026, and 2030 (%)
- Y-o-Y Growth Analysis, 2023 - 2030
- Segment Trends
Dairy Alternatives
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Chesse
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Snacks
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Desert
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Other
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Meat Alternatives
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Tofu
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Seitan
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Quoran
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Other
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)

6. Indian Vegan Food, by Source, 2018-2030, (US$ Million)

Introduction
- Market Share Analysis, 2022, 2026, and 2030 (%)
- Y-o-Y Growth Analysis, 2023 - 2030
- Segment Trends
Almond
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Soy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Wheat
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Oat
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)

7. Indian Vegan Food Market, By Distribution Channels, 2018-2030 (US$ Million)

Introduction
- Market Share Analysis, 2022 and 2030(%)
- Y-o-Y Growth Analysis, 2023-2030
- Segment Trends
Offline
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Mn)
Supermarket
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Mn)
Hypermarket
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Mn)
Online
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Mn)
Specialty Stores
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030 (US$ Mn)

8. Indian Vegan Food Market, By Region, 2018-2030, (US$ Million)

Introduction
- Market Share Analysis, By Country, 2022, 2026, and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2017-2030
- Segment Trends
North India
- Market Size and Forecast, By Product, 2018-2030, (US$ Mn)
- Market Size and Forecast, By Source, 2018-2030, (US$ Mn)
- Market Size and Forecast, By Distribution Channels, 2018-2030 (US$ Mn)
South India
- Market Size and Forecast, By Product, 2018-2030 (US$ Mn)
- Market Size and Forecast, By Source, 2018-2030 (US$ Mn)
- Market Size and Forecast, By Distribution Channels, 2018-2030 (US$ Mn)
East India
- Market Size and Forecast, By Product, 2018-2030 (US$ Mn)
- Market Size and Forecast, By Source, 2018-2030 (US$ Mn)
- Market Size and Forecast, By Distribution Channels, 2018-2030 (US$ Mn)
West & Central India
- Market Size and Forecast, By Product, 2018-2030 (US$ Mn)
- Market Size and Forecast, By Source, 2018-2030 (US$ Mn)
- Market Size and Forecast, By Distribution Channels, 2018-2030 (US$ Mn)

9. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- One Good (Formerly Goodmylk)
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- GoodDot
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- EVO Foods
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Ahimsa Foods
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Wakao Foods
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Jus Amazin
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- So Good
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Live Yum
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Piper leaf
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Soft Spot Food
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Vega Lyfe
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- The Hershey Company
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Sun Opta Inc.
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Living Harvest Food Inc.
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Pascual Group
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Grub Market
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- SunFed
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Danone
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates
- Whitewave Foods Company
Company Overview
Component Portfolio
Financial Performance
Recent Developments/Updates

10. Section

References
Research Methodology
About Us and Sales Contact