IMARC Group, a leading market research company, has recently releases report titled “India Vegan Food Market Report by Product (Dairy Alternatives, Meat Substitutes, and Others), Source (Almond, Soy, Oats, Wheat, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032”. The India vegan food market size reached US$ 1,468.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,474.8 Million by 2032, exhibiting a growth rate (CAGR) of 10.04% during 2024-2032.
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The growing awareness of health, environmental sustainability, as well as animal welfare are the factors responsible for the growth of the India vegan food market. Additionally, the market is propelling owing to the consumers becoming conscious of the benefits of plant-based diets, there is a rising shift towards veganism, particularly among the urban and younger demographics.
This shift is fueled by the increasing prevalence of lifestyle-related diseases such as diabetes and heart disease, prompting individuals to adopt healthier eating habits. Moreover, the influence of global dietary trends and the availability of information through social media and documentaries are educating consumers about the environmental impact of animal agriculture and the ethical considerations of animal cruelty, further driving the demand for vegan food products.
India Vegan Food Market Trends:
The expansion of the India vegan food market is also supported by innovations and investments in food technology and the growing presence of both local and international brands. In addition to this, companies are developing a wide range of plant-based alternatives to traditional animal products, including dairy-free milk, meat substitutes, and vegan snacks, to cater to the diverse tastes and preferences of consumers thereby escalating the market.
Furthermore, retailers and food service establishments are increasingly incorporating vegan options into their offerings, making plant-based diets more accessible which is acting as another growth-inducing factor. initiatives taken by government authorities promoting sustainable agriculture and food security are encouraging growth which is anticipated to drive the India vegan food market over the forecasted period.
India Vegan Food Market Segmentation:
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
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• 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.
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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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