Global Indian Vegan Food Market Is Estimated To Witness High Growth Owing To Increasing Awareness Regarding Animal Welfare And Growing Availability Of Plant-Based Meat Substitutes

 Indian Vegan Food Market

Overview:

From the hilly holiday destinations of the Himalayas to the grassy fertile plains of rivers and the scorching Thar Desert, India’s diverse landscape is reflected in its varied cuisine. While North Indian dishes tend to be heavy on dairy, South Indian cooking is more reliably vegetarian. The protein-packed chickpea curry chole or the kidney bean dish rajma can be served with phulkas, roti or bhature, and both are often prepared vegan. Similarly, the daal chana masala, the aloo matar, the baingan bharta, and the cabbage bhindi are all vegan. Aside from these dishes, popular Indian street foods such as puri, sev puri, bhel puri, vada pav and samosa pav are also often vegan.

Market Dynamics:

Increasing product launches are estimated to augment growth of the global Indian vegan food market during the forecast period. For instance, a plant-based meat manufacturing company Ahimsa Food has developed a Veggie Champ Brand, in December 2020. This brand offers products like Mock Duck, pepper salami, Vegan Classic Chicken, wheat protein, spices, and mixer of soy. Moreover, increasing risk of iron deficiency and highly processed foods are anticipated to restrain growth of the global Indian vegan food market during the forecast period.

Impact of COVID-19:

The pandemic was first reported in China in 2019. The pandemic affected several nations globally. The pandemic had a significant impact on the growth of many sectors such as automobiles, electronics, semiconductors, food and beverage industries. The pandemic led to implementation of strict restrictions in many countries. These restrictions caused a shortage of raw materials in many industries.  The food and beverage industry had to halt production of many food items. People were shifting to organic and vegan food options during the pandemic. Thus, the pandemic had a positive impact on the growth of the global Indian vegan food market.

Key Takeaways:

The global Indian vegan food market is expected to witness high growth, exhibiting CAGR of 8.1 % over the forecast period, due to increasing acquisitions by key players. For instance, a France based company Dannon acquired Follow Your heart, in February 2021, for 6 million dollars. This acquisition will help in developing vegan products.

North America is anticipated to witness significant growth in the global Indian vegan food market during the forecast period, due to growing number of lactose-intolerant people and rising demand for alternative dairy products.

Key players operating in the global Indian vegan food market are Whitewave Foods Company, One Good, Danone, GoodDot, SunFed, EVO Foods, Ahimsa Food, Grub market, Wakao Foods, Pascual Group, Jus Amazin, living Harvest Food Inc., So Good, Sun Opta Inc., Piper leaf, The Hershey Company, Soft Spot Food, and Vega Lyfe.