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

India Vegan Food Market Segment Analysis:

India Vegan Food Market is Segmented on the basis of Product Type, Source, Distribution Channel, End-User, And Region.

By Product Type, Meat Alternatives Segment Is Expected to Dominate the Market During the Forecast Period

• Plant-based protein is tied to a number of positives for people and the planet. The swapping of meat for plant-based ones can reduce the intake of saturated fats and increase the fiber and vitamin content in diets. It can help to reduce risk for diabetes, cancer, heart diseases and other life style diseases. Consumers are growing interested in plant-based meat alternatives like the Impossible TM Burger and Beyond Burger that are received significant financial investments, media coverage and research attention.
• The meat substitutes developed resemble the flavour and sensory experience of red meat, are promoted as having environmental and health benefits over red meat. While plant-based meat products differ in terms of ingredients, the new generation of alternatives are designed to match the sensory experience and macronutrient composition of meat by using plant proteins like soy, peas, potato, rice and wheat.
• Vegan meat also known as faux, fake, mock, meat analogues or plant proteins are products that have texture, flavour or appearance similar to that of animal-based meat. They contain a variety of components including soya, textured vegetable protein and wheat gluten to name a few. There is a distinction to be made between “meatless” and “vegan meat. The word “meatless” can be used to describe a product that includes only trace amounts of animal components like as eggs, casein, whey or other animal-derived enzymes whereas vegan meat has no animal products in it.
• Growing demand for meat alternatives, a potential is related to the increased knowledge about the negative impacts of diets high in red meat and processed meat on human health. This, together with an increased concern for the environmental impacts of animal products compared to their plant-based counterparts, supports the transition toward sustainable healthy diets, which are based on a high intake of plant-based foods and the moderate consumption of animal products.

By Source, Soy Segment Held the Largest Share In 2023

• Soy is a basic food ingredient of traditional Asian cuisine used for thousands of years. In Western countries, soybeans have been introduced about a hundred years ago and recently they are mainly used for surrogate foods production. Soy and soy foods are common nutritional solutions for vegetarians, due to their high protein content and versatility in the production of meat analogues and milk substitutes.
• Protein quality of soy beans is one of the most attractive reasons for the interest in soy and soy foods among vegetarians. With the growing adoption of vegetarian lifestyles, a great variety of soy-based food products have become more available in grocery stores; besides the market request, a reason for such popularity may depend on the nutritional and versatile properties of soy beans, which are suitable for food technological transformations. Soy beans are used for the production of several analogues and surrogates of meat and dairy products that might be used as alternatives especially during transition to vegetarian diet.
• Potential effects on health, such as the effectiveness on cardiovascular risk reduction or, conversely, on the possible disruption of thyroid function and sexual hormones. The soy components that have stimulated the most research interest are isoflavones, which are polyphenols with estrogenic properties highly contained in soybeans. High protein content, together with lower carbohydrate content, characterizes soy as a unique vegetable protein source compared to other legumes.

• Besides macro- and micronutrients, soy contains high concentrations of phytoestrogens, polyphenols with similar molecular structure as endogenous oestrogens, which still raise doubts about safe use, especially at high dose. In Asian regions, soy is often used for several traditional cuisine dishes. Soy beans can be blended and heated to extract soy milk that can also be treated with magnesium chloride or calcium sulphate curd to get tofu. In addition, different fermentation treatments are useful in order to get natto, tempeh, soy sauce and sufu.

India Vegan Food Market Regional Insights:

North India is Expected to Dominate the Market Over the Forecast Period

• The northern part of India is famous for its diverse and flavourful vegetarian food culture. North Indian cuisine, like Punjabi, Rajasthani, and Uttar Pradesh cuisine, offers a diverse selection of plant-based dishes that are either vegan by nature or can be easily adapted to be vegan. This legacy adds to the variety of tasty vegan food choices in the area. Additionally, there is a notable urban population in North India due to the fast pace of urbanization. Urban regions generally have greater disposable incomes, enabling people to experiment with and embrace specialty diets such as veganism.
• A bigger urban population with greater buying power in North India helps drive the expansion of the vegan food industry. Moreover, there has been considerable growth in the market for vegan food products in the region in terms of their availability and accessibility. Supermarkets, health food stores, and specialty vegan stores are now more available in major cities in North India, providing consumers with a variety of vegan options.
• In Northern India, a large number of people are vegetarian due to cultural and religious customs, which has facilitated a smooth shift to veganism. Health consciousness is increasing, with a trend towards healthier and more sustainable eating habits such as veganism. The demand for a variety of food choices, including vegan products, has risen in cities like Delhi due to rapid urbanization and exposure to global trends. The increase in demand for vegan products has led supermarkets and restaurants to offer more options to cater to customers. Prominent individuals and famous personalities promoting veganism have contributed to the rise in popularity of plant-based diets, motivated by worries regarding the environment and the well-being of animals.

India Vegan Food Market Active Players

• 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)

Key Industry Developments in the India Vegan Food Market:

• In June 2023, OneRare has entered into a partnership with Wingreens World, a platform of new age brands in the food industry. This partnership aims to combine delights of brand Wingreens Farms with digital collectibles and blockchain brought forth by OneRare.
• In May 2023, this is the Benchmark Year for Vezlay Foods Promising Pathways Toward a Sustainable Future. Amit Bajaj, the visionary entrepreneur and driving force behind Vezlay Foods, was honoured with the distinguished ‘Plant-based Food Entrepreneur’ award at the 2nd Plant-Based Food Summit held at Le Meridian, New Delhi
• In June 2022, Evo Foods Unveils “World’s First” Heat-Stable Plant-Based Boiled Egg. To develop the plant-based boiled egg, Evo created a database of plant proteins grown in India and compared them to egg proteins based on various parameters. Once the company had selected the proteins with the best match, it used proprietary texturizing technology to create the finished product.
• In May 2022, Evo Foods, a consumer-packaged goods company creating the next generation of plant-based substitutes for animal products, and Ginkgo Bioworks, the leading horizontal platform for cell programming, announced a partnership to develop a method for producing animal-free egg proteins for use in Evo's products.