The latest report published by IMARC Group, titled “India Vegan Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The India vegan food market size reached US$ 1,324 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,463 Million by 2028, exhibiting a growth rate (CAGR) of 10.9% during 2023-2028. A vegan diet involves the consumption of plant-based products, including grains, nuts, seeds, fruits, beans, pulses, vegetables, etc. These products are rich in antioxidants, fiber, potassium, magnesium, folate, protein, complex carbohydrates, minerals, and vitamins A, C, and E. Vegan food provides numerous health benefits, which comprise lowering cholesterol levels, and reducing the risk of cancer, managing type 2 diabetes, heart diseases, and other medical ailments. They aid in minimizing the pain of arthritis, boosting mood, promoting weight loss, controlling A1C levels, and improving skin health.
Market Growth Drivers:
The increasing awareness among individuals about the benefits of vegan food as compared to animal-based food products is among the key factors stimulating the India vegan food market. Moreover, the growing prevalence of chronic diseases and the rising health consciousness among consumers are acting as significant growth-inducing factors. Besides this, restaurants and fast-food chains are offering vegan meat, burritos, pizza, ice cream, waffles, cookies, brownies, etc., which is positively influencing the market growth. Furthermore, the introduction of packaged, dairy-free chocolates, cheese, fat spreads, milk, breakfast cereals, and unsweetened soya drinks that are strengthened with vitamin D by leading players is also propelling the market growth across the country. Apart from this, the inflating number of the masses with lactose intolerance is further fueling the market growth. Additionally, the launch of initiatives for using sustainable diets featuring plant-based foods by the government to aid fight climate change and other environmental issues caused by animal agriculture and fishing is anticipated to drive the India vegan food market over the forecasted period.
Key Market Segmentation:
The report has segmented the India vegan food market based on product, source, distribution channel and region.
Breakup by Product:
- Dairy Alternatives
- Cheese
- Dessert
- Snacks
- Others
- Meat Substitutes
- Tofu
- TVP
- Seiten
- Quorn
- Others
- Others
Breakup by Source:
- Almond
- Soy
- Oats
- Wheat
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape With Key Players:
The competitive landscape of the industry has been studied in the report with the detailed profiles of the key players operating in the market.
Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/india-vegan-food-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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