Vegan Cheese in India
Summary
Vegan Cheese in India industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Vegan cheese includes products that are marketed as plant-based, vegan, or dairy-free cheese. The demand for vegan cheese is being driven by a combination of health, ethical, environmental, and taste-related factors. These vegan cheese/plant-based cheeses are products that are marketed as alternatives to dairy-based cheese.
- The Indian vegan cheese market recorded revenues of $34.3 million in 2024, representing a compound annual growth rate (CAGR) of 12.4% between 2019 and 2024.
- The cheddar segment accounted for the market's largest proportion in 2024, with total revenues of $11.4 million, equivalent to 33.1% of the market's overall value.
- According to GlobalData, in 2024, the Indian vegan cheese market recorded an annual growth of 12.5%. The growth is supported by the rise in soybean production, which is one of the key ingredients to produce vegan cheese. As Indian consumers continue shifting toward dairy-free diets, the increased availability of domestically sourced soybeans is supporting market expansion.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the vegan cheese market in India
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the vegan cheese market in India
- Leading company profiles reveal details of key vegan cheese market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the India vegan cheese market with five year forecasts by both value and volume
- What was the size of the India vegan cheese market by value in 2024?
- What will be the size of the India vegan cheese market in 2029?
- What factors are affecting the strength of competition in the India vegan cheese market?
- How has the market performed over the last five years?
- Who are the top competitors in India's vegan cheese market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What are the strengths of the leading players?
- 7.3. Have there been any recent partnerships in the market?
- 8 Company Profiles
- 8.1. Soft Spot Foods
- 8.2. Bombay Cheese Co
- 8.3. Flora Food Group BV
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related GlobalData research
- 10.4. About GlobalData
- List of Tables
- Table 1: India vegan cheese market value: $ million, 2019–24
- Table 2: India vegan cheese market category segmentation: % share, by value, 2019–24
- Table 3: India vegan cheese market category segmentation: $ million, 2019-24
- Table 4: India vegan cheese market geography segmentation: $ million, 2024
- Table 5: India vegan cheese market value forecast: $ million, 2024–29
- Table 6: Soft Spot Foods: Key Facts
- Table 7: Bombay Cheese Co: Key Facts
- Table 8: Axia Foods Pvt Ltd: Key Facts
- Table 9: Flora Food Group BV: Key Facts
- Table 10: Flora Food Group BV: key employees
- Table 11: India Size of Population (Million), 2020–24
- Table 12: India Real GDP (Constant 2010 Prices, $ Billion), 2020–24
- Table 13: India GDP (Current Prices, $ Billion), 2020–24
- Table 14: India Inflation, 2020–24
- Table 15: India Consumer Price Index (Absolute), 2020–24
- Table 16: India Exchange Rate, 2019–24
- List of Figures
- Figure 1: India vegan cheese market value: $ million, 2019–24
- Figure 2: India vegan cheese market category segmentation: $ million, 2019-24
- Figure 3: India vegan cheese market geography segmentation: % share, by value, 2024
- Figure 4: India vegan cheese market value forecast: $ million, 2024–29
- Figure 5: Forces driving competition in the vegan cheese market in India, 2024
- Figure 6: Drivers of buyer power in the vegan cheese market in India, 2024
- Figure 7: Drivers of supplier power in the vegan cheese market in India, 2024
- Figure 8: Factors influencing the likelihood of new entrants in the vegan cheese market in India, 2024
- Figure 9: Factors influencing the threat of substitutes in the vegan cheese market in India, 2024
- Figure 10: Drivers of degree of rivalry in the vegan cheese market in India, 2024
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