The vegan food market in India is growing and is expected to continue to grow in the coming years. According to a report by Mordor Intelligence, the vegan food market in India was valued at USD 1.75 billion in 2020, and it is expected to reach a value of USD 3.18 billion by 2025, growing at a compound annual growth rate of 12.5%.
There are a number of factors driving the growth of the vegan food market in India, including:
Increased awareness of the health and environmental benefits of a plant-based diet: As more people become aware of the potential health and environmental benefits of a vegan diet, they are increasingly choosing to incorporate plant-based foods into their diets.
Growing demand for plant-based alternatives: There is growing demand for plant-based alternatives to animal-based products, such as vegan milk, cheese, and meat substitutes, which are now widely available in India.
Rising trend of veganism: Veganism is becoming more popular in India, and more people are choosing to follow a vegan diet due to ethical concerns about the treatment of animals and the environmental impacts of animal agriculture.
Support from the government and private sector: The government and private sector in India are increasingly supporting the growth of the vegan food market, through initiatives such as promoting plant-based diets and investing in vegan food startups.
The vegan food market in India is expected to continue to grow in the coming years, driven by increased demand for plant-based foods and the growing popularity of veganism.