IMARC Group has recently released a new research study titled “India Vegan Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the india vegan food market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
Market Outlook:
The 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.
Vegan food encompasses various edible products made from plant-based ingredients, such as oats, wheat, almonds, soy, tofu, rice, and coconuts. Commonly consumed edibles include fruits, vegetables, grains, pulses, seeds, nuts, and beans.
Vegan food does not contain animal-derived products, including milk, eggs, honey, or gelatin, and it typically has minimal levels of saturated fats and cholesterol. In addition to this, these edibles are abundant in fiber, antioxidants, potassium, magnesium, folic acid, protein, iron, and vitamins A, B1, C, and E. Owing to its comparable taste, texture, and flavor, vegan food has gained considerable popularity in India as a healthy substitute for dairy, meat, and meat-based products.
What are the growth prospects and trends in the industry?
The shifting dietary patterns and the increasing health consciousness among the general population, on account of the high incidence of chronic lifestyle diseases, such as obesity, diabetes, cardiovascular disorders, and cancer, are primarily driving the India vegan food market.
The launch of several policies by the government bodies to promote sustainable plant-based diets to oppose climate change and other environmental issues associated with animal agriculture and fishing is further augmenting the market growth.
The introduction of premium-quality packaged dairy-free vegan food items, including chocolates, milk, cheese, breakfast cereals, and unsweetened soya drinks, and the utilization of innovative packing solutions and aggressive promotional activities, such as endorsements by athletes and celebrities are also catalyzing the market across India.
The availability of ready-to-eat (RTE) meals in various exotic flavors has prompted several restaurants and fast-food chains across the country to offer vegan-friendly menus, which is acting as another significant growth-inducing factor.
Furthermore, the rising prevalence of lactose intolerance, inflating consumer expenditure capacities, the emerging trend of urbanization, and evolving lifestyle preferences are anticipated to propel the India vegan food market over the forecasted period.
Request Free Sample Report: https://www.imarcgroup.com/india-vegan-food-market/requestsample
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:
The competitive landscape of the India vegan food market 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.
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.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com/
