Why More and More People are Adopting Veganism

Why More and More People are Adopting Veganism

The market for vegan food has expanded significantly in recent years. At a 13.1% compound annual growth rate (CAGR), it will increase from $24.58 billion in 2023 to $27.8 billion in 2024.

By Vijetha Iyer, Content Editor

Aug 20, 2024 / 56 MIN READ

Veganism is a lifestyle choice that excludes all animal products from the diet, including meat, dairy, eggs, and honey. It also often extends to other areas of life, avoiding the use of animal-derived products like leather or wool.

While all vegan food is plant-based, not all plant-based food is vegan. Plant- based typically refers to a diet that focuses on consuming whole or minimally processed foods occasionally include animal products, especially in small quantities.  India has a long tradition of vegetarianism, deeply rooted in religious and  cultural practices, particularly within Jainism, and Buddhism. This makes the transition to

Veganism or a plant-based diet more culturally acceptable and easier for many Indians.

 As per the research study, consumers in Gen Z and Millennial are more likely than older generations to avoid meat and dairy products. For a variety of reasons, a higher proportion of these younger customers are vegans or are more open to experimenting with other plant-based formats. People who desire to eat in novel and fascinating ways, with a variety of styles and delicacies from around the world, are drawn to plant-based foods.

Plant-based ingredients are more expensive to produce vegan food than animal-based food, the cost of producing vegan food is quite high. It is anticipated that this aspect will limit the uptake of vegan edibles in low- and middle-income nations. But in order to significantly improve the tastes and textures of plant-based foods, a number of important firms are utilizing cutting-edge technology, which is anticipated to create considerable growth prospects.

Going with the Trend

The market for vegan food has expanded significantly in recent years. At a 13.1% compound annual growth rate (CAGR), it will increase from $24.58 billion in 2023 to $27.8 billion in 2024.

“A vegan diet tends to be rich in fiber, antioxidants, and health-promoting substances derived from plants. Research indicates that such diets are often abundant in magnesium, potassium, folate, and vitamins A, C, and E. Moreover, while iron levels in vegan diets may be higher, the type of iron found in plant-based foods is not as bioavailable as the iron from animal sources, meaning it is not absorbed as efficiently by the body,” said Chef Prakash Joshi, Corporate Chef, Epitome.

For many people, the decision to adopt and maintain a vegan diet is driven not only by health benefits but also by ethical considerations. Many individuals choose veganism due to their emotional connection to animals and their belief that all sentient beings have a right to life and freedom. Veganism aims to eliminate all forms of animal abuse and exploitation, including the use of animals for food, clothing, and other purposes, as much as is feasible. It also promotes the development and use of animal-free alternatives.

“People tend to consume Vegan food for Dietary benefits as well. It helps in maintaining blood sugar balance and can reduce the risk of complications related to diabetes. It might lower the risk of developing certain cancers and many other benefits,” explained Chef Prakash Joshi, Corporate Chef, Epitome who added that as a vegetarian restaurant, we offer a diverse menu that includes soups, cold and hot appetizers, mains, and desserts. Some of our standout options include: Turkish Platter, Epitome Salad Bowl and Sourdough Bruschetta.

At Tattva Bar & Café, our Chef and Wellness Expert, Rupesh Mokal, believes that adopting a vegan lifestyle can profoundly enhance your health, wellness, and overall well-being.

He added, “Our vegan menu at Tattva is thoughtfully designed to highlight the rich flavors and versatility of plant-based cuisine. We offer a variety of dishes that not only cater to different tastes but also support a healthier lifestyle. Some of our signature dishes include Vegan Cheese Board, Quinoa Stuffed Bell Peppers and Lentil and Mushroom Curry.”

Health-Consciousness

“People are shifting towards vegan and plant-based diets due to health benefits, environmental concerns, and animal welfare. Innovations include plant-based meats, dairy alternatives, and lab-grown foods. At BlueBop Cafe we have products like vegan dark chocolate tart, vegan pizzas, & vegan burger. Plant-based food focuses on whole, minimally processed plant ingredients. Vegan food avoids all animal products but can include processed foods,” commented Eesha Sukhi, The Bluebop Café, Founder.

The rise in health consciousness and awareness of environmental sustainability are driving the popularity of plant-based and vegan diets in India. Additionally, traditional Indian cuisine already includes many plant-based options.

 “Plant-based food primarily focuses on consuming whole, minimally processed plants like vegetables, fruits, grains, nuts, and seeds. Vegan food excludes all animal products, including meat, dairy, eggs, and honey, but can include processed foods as long as they don’t contain animal-derived ingredients,” said Sonal Barmecha, Founder, Sante Spa Cuisine who added that all vegan food is plant-based, not all plant-based food adheres to the vegan philosophy, which also includes ethical considerations about animal welfare.

Innovations in Plant-Based Foods

“As awareness grows about the environmental impact of animal agriculture, including deforestation, water usage, and greenhouse gas emissions, consumers are increasingly seeking sustainable food options. Plant-based diets have a significantly smaller carbon footprint, which appeals to environmentally conscious consumers,” explained Corporate Chef Subhash Shirke, The Pantry who further elaborated on the innovations in plant-based foods. They are:

Meat Alternatives: Companies are continuously innovating in the area of plant-based meats, creating products that closely mimic the taste, texture, and appearance of traditional meat. Good dots, Beyond Meat, Impossible Foods are notable examples, and similar innovations are emerging in India with local ingredients like jackfruit and chickpeas. We at Pantry just launched vegan kimchi fried rice made using pro chaps from good dot which gives the accurate balance of Asian flavors with meaty texture.

Dairy Alternatives: Innovations in dairy-free milk, cheese, and yogurt have expanded significantly. At pantry we do our house made milks for vegan productions, these are experimenting with bases like oats, almonds, cashews or coconut. Our Vietnamese cold coffee made from house made coconut milk & vegan ganache are among the top sellers at pantry

Plant-Based Seafood: This is an emerging category with companies developing products that replicate the taste and texture of fish and other seafood using plant ingredients. These addresses both sustainability and health concerns associated with traditional seafood.

Veganism is a lifestyle choice that excludes all animal products from the diet, including meat, dairy, eggs, and honey. It also often extends to other areas of life, avoiding the use of animal-derived products like leather or wool.

While all vegan food is plant-based, not all plant-based food is vegan. Plant- based typically refers to a diet that focuses on consuming whole or minimally processed foods occasionally include animal products, especially in small quantities.  India has a long tradition of vegetarianism, deeply rooted in religious and  cultural practices, particularly within Jainism, and Buddhism. This makes the transition to

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