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India Vegan Food Market Size, Growth, Trends, Competitive Analysis and Industry Report 2022-2027

India Vegan Food Market

SHERIDAN, WY, USA, May 25, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “India Vegan Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, the India vegan food market is expected to exhibit a CAGR of 11.32% during 2022-2027. Vegan food comprises various edible food products prepared using plant-based ingredients, including soy, oats, wheat, almonds, tofu, rice, and coconuts. Some commonly consumed vegan food includes fruits, vegetables, grains, pulses, seeds, nuts, and beans. It is free from animal-derived products, such as milk, eggs, honey, and gelatin and contains low amounts of cholesterol and saturated fats. It is a rich source of fiber, antioxidants, potassium, magnesium, folic acid, protein, iron, and vitamins A, B1, C, and E. As a result, vegan food has gained immense popularity in India as a healthy alternative to dairy, meat, and meat-based products due to its similar taste, texture, and flavor.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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India Vegan Food Market Trends and Drivers:

The shifting dietary patterns and the growing health consciousness among the masses represent the primary factors driving the market in India. This can be attributed to the rising incidences of chronic lifestyle diseases, such as obesity, diabetes, cardiovascular disorders, and cancer. Additionally, the Government of India is taking favorable initiatives to promote the uptake of sustainable plant-based diets to help fight climate change and other environmental issues caused by animal agriculture and fishing. In line with this, the increasing concerns regarding animal cruelty and the surging awareness about the nutritional benefits of vegan food have augmented the product demand.

Furthermore, several key players are launching premium-quality packaged dairy-free vegan food items, such as chocolates, milk, cheese, breakfast cereals, and unsweetened soya drinks. Besides this, the rising adoption of innovative packaging solutions and aggressive promotional activities like athlete and celebrity endorsements have propelled the market growth. Moreover, with the introduction of ready-to-eat (RTE) vegan food in exotic flavors, several restaurants and fast-food chains across the country are offering a vegan-friendly menu, thereby contributing to product sales. Other factors, including the emerging veganism trend, increasing prevalence of lactose intolerance, inflating consumer expenditure capacities, rapid urbanization, and changing lifestyle preferences, are also creating a positive market outlook.

Key Market Segmentation:

The report has segmented the India vegan food market on the basis of 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 also been examined along with the profiles of the key players.

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=4670&flag=C

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• 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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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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
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