India Vegan Food Market Research Report 2024

India Vegan Food Market Synopsis

India Vegan Food Market Size Was Valued at USD 1520.12 Million in 2023, and is Projected to Reach USD 3640.47 Million by 2032, Growing at a CAGR of 10.19% From 2024-2032.

Vegan food are the food or food ingredient, including additives, flavourings, enzymes and carriers, or processing aids that are not products of animal origin and in which, at no stage of production and processing, ingredients, including additives, flavourings, enzymes and carriers, or processing aids that are of animal origin has been used. Our food systems rely heavily on animal agriculture, which leads to climatic pressure. To reduce this, we need to diversify. A plant-based diet is a solution that addresses various problems in agricultural system, such as unethical farming practices, mistreatment of animals, and unsustainability. Adopting a vegan or more plant-based diet can improve both human and planetary health. A solid foundation needs to be built for the relatively new industry by substantially stronger research and development investment for both product attributes and manufacturing methods.

Plant-based food innovation, particularly one that capitalizes on the strong points of Indian crop production and biodiversity of our millets, will necessitate government-led evaluation and approval of novel ingredients. Strategic support is being given to the plant-based industry by the Ministry of Food Processing Industry, and this work should be kept up and expanded. The Pradhan Mantri Kisan Sampada Yojana (PMKSY) provides a good framework for upcoming work. The success of the market for plant-based products, both now and in the future, depends on all of these initiatives, better investments and food technologies combined.

The plant-based industry in India is in its nascent stage with plant-based milk occupying the maximum share (16% of total milk sales) and awareness. India seems to be in early stages for plant-based meat substitutes, however, the market is opening up with significant opportunities for growth led by new product launches by homegrown companies. Several start-ups have mushroomed in the plant-based market such as GoodDot Enterprises, BlueTribe, Ahimsa Food, Vegeta Gold, Vezlay, Vegitein Vegan Eatery, EVO who are predominantly using the foodservice and ecommerce channels in India. Entry of large ingredient companies such as ADM, Kerry in the Indian plant-based space is a welcoming signal of the rapid innovations expected in the ingredients front. Additionally, celebrity endorsements are giving this market significant boost and the market is expected to take off in a couple of years.

From this graph it is shown that, in the Indian vegan food market, plant-based milk leads with a 74% share, followed by dairy product substitutes at 65%. Plant-based meat alternatives account for 44%, while egg substitutes and plant-based condiments each hold 31%. Other plant-based products make up 4% of the market. This data highlights the growing acceptance and diversity of vegan food products in India.

Top Active Players Involved Are:

“GoodDot (Rajasthan), Proeon Food (Maharashtra), Evo Foods (Maharashtra), Shaka Harry (Bangalore), Goodmylk (Karnataka), Imagine Meats (Maharashtra), Wakao (Goa), Mister Veg (Haryana), Urban Platter (Delhi), Nutiva Foods (Uttar Pradesh), Vezlay Foods Pvt. Ltd. (New Delhi), Epigamia (Maharashtra), WickedGud (Maharashtra), Evolved Foods (Bangalore), The Green Snack Co. (Maharashtra), WhiteCub (Haryana), Vegolution India Pvt. Ltd. (Karnataka), Veganarke (Karnataka), Raw Pressery (Maharashtra), Praakritik (Maharashtra), Pure Nutrition (Maharashtra), Wingreens Farms (Haryana), Blue Tribe Foods (Maharashtra) and Other Active Players.”

India Vegan Food Market Trend Analysis

Increasing Awareness about the Health Benefits of Plant Based Diets

• Plant-based diets have the potential not only to improve human health but also to reduce the environmental impacts associated with high consumption of animal-sourced foods such as meat and dairy products. The production of plant foods, such as fruits and vegetables, grains, legumes, nuts and seeds, produces lower greenhouse gas emissions than that of animal foods. Foods associated with the greatest negative environmental impacts unprocessed and processed red meat are consistently associated with the largest increases in disease risk.
• Shifting towards plant-based diets can also help prevent biodiversity loss. This shift in dietary patterns could significantly reduce land use for agriculture, by reducing the amount of land required for grazing and growing crops. It is encouraging that reducing the consumption of unprocessed and processed red meat has dual benefits for both human and planetary health. Modern plant-based diets may also include ultra-processed foods. These include imitation processed “meats” (including products marketed as sausages, nuggets and burgers), beverages (for example, almond and oat “milk”), and plant-based “cheese” and “yoghurt”.
• Ultra-processed foods, as defined by the NOVA classification system, are formulations of substances derived from whole foods, such as starches, sugars, fats and protein isolates, with little, if any, whole food, and often with added flavours, colours, emulsifiers and other cosmetic additives to improve shelf-life, palatability and visual appeal. Vegan diet has become a popular diet choice for people around the world, in recent times, due to concerns such as health issues, animal rights and welfare, and sustainability of the environment.
• A well-planned vegan diet contains only plant-derived foods, such as fruits, vegetables, legumes, grains, seeds, and nuts. While these natural sources offer a myriad of essential nutrients, special attention must be paid to certain key components that may be more difficult to obtain solely from plant-based sources. To prevent deficiencies and ensure overall health and well-being, particular attention must be paid to nutrients such as protein, iron, calcium, vitamin B12, vitamin D, and omega-3 fatty acids with a very long chain in a vegan diet. As adults cultivate a vegan lifestyle, their dietary choices can substantially affect their health.

Opportunity

Product Innovations and Sustainability for Food Security in future

• A sustainable diet, as defined by the Food and Agriculture Organization (FAO) must be safe, healthy, have sufficient nutrients and low environmental impact. Meat, egg, dairy products, bakery products (snacks), beverages, and dietary supplements have been developed from plant and alternative protein sources. The traditional source of these products, for instance cheese, has unique characteristics which confer distinct taste and favour. For alternative cheese, producers must observe and take note of the interactions between ingredients, processing methods effects, proportion and various formulations, for easy replication and optimization.
• In plant-based meat products, the common characteristics consumers expect are taste/flavour intensity, texture (firmness and hardness), and nutritional value. Plant-Based Meat (PBM) is produced to mimic meat not only for vegetarians but for ‘meat lovers’ or flexitarians. The production of PBM involves analysing and selecting appropriate plants and other raw materials. Modified legume protein isolates for example, processed using hydrostatic pressure technology when included in PBMs improve functional properties during the product formulation process.
• Several methods and innovations including blending, cell culture, precision fermentation (PF), and genetic engineering have been explored in the manufacture of PBFs. Most PBF producers mimic the sensory properties and nutritional characteristics of conventional protein sources to attract consumers and obtain a wider market beyond vegetarians. Fermentation is a convenient, adaptable, technology that preserves food, increases shelf life, enhances nutritional quality, and has been used for developing new products with improved organoleptic properties.
• PF is one of the newest and major technologies used to produce PBFs where microbes are redesigned to produce specific, customised and recombinant molecules to yield new food ingredients. The goal of PF is to produce newer protein sources with desirable textural and taste characteristics for increased consumer acceptance. It targets the microbial genome where genetic information of specific proteins is modified