Organic Food – Dutch Uncles https://dutchuncles.in Market Intelligence & Mentoring Resources for Startups and Small businesses | Dutch Uncles Tue, 04 Jan 2022 16:34:24 +0000 en-US hourly 1 https://dutchuncles.in/wp-content/uploads/2020/12/favicon.png Organic Food – Dutch Uncles https://dutchuncles.in 32 32 Why the Love for Vegan Brands is On the Rise Especially Among Youngsters? https://dutchuncles.in/discover/why-the-love-for-vegan-brands-is-on-the-rise-especially-among-youngsters/ https://dutchuncles.in/discover/why-the-love-for-vegan-brands-is-on-the-rise-especially-among-youngsters/#respond Tue, 04 Jan 2022 08:33:40 +0000 https://dutchuncles.in/?p=39154&preview=true&preview_id=39154 One day, a video surfaced on social media that became viral within seconds of its release. The video showed the brutality that animals endure in the processed meat industries, dairy and beauty, and cosmetics industries. When it comes to the growth of vegan brands in India, social media has fuelled the growth of the vegan […]

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One day, a video surfaced on social media that became viral within seconds of its release. The video showed the brutality that animals endure in the processed meat industries, dairy and beauty, and cosmetics industries. When it comes to the growth of vegan brands in India, social media has fuelled the growth of the vegan market in India where content on animal cruelty and animal rights videos were most shared and liked by the youngsters.

Also, what pushed veganism more is the breakout of the pandemic that made people fearful of the zoonotic diseases emerging from animals and low antibiotic resistance. A report from Barclays says that the vegan food and drink market could increase by 1000 percent by the end of this decade and a report from Franchise India Holdings Limited finds that the number of vegan consumers in India has risen by 360 percent from the past decade.

Vegan cosmetic consumption in India is also not behind vegan food consumption. After people came to know the brutal trials the animals undergo especially rabbits, mice, guinea pigs, and rats, people have shown an inclination towards vegan cosmetics. Also, cosmetics since are not to be tested on animals, and directly to humans, it is likely that ingredients used in cosmetics should be skin-friendly, organic, and plant-based resulting in the least skin irritations. 

According to a recent report from Brand Essence, the clean beauty market in India was valued at $5439.6 million in 2020 and is expected to reach $ 11558.5 in 2027 growing at a CAGR of 12.07 percent. The use of organic, sulphate- free and plant-based ingredients has given birth to several D2C beauty and skincare brands that witnessed 3 times growth in revenue in 2021. 

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According to a recent report from Brand Essence, the clean beauty market in India was valued at $5439.6 million in 2020 and is expected to reach $ 11558.5 in 2027 growing at a CAGR of 12.07 percent.

The vegan brands that are witnessing an uptick in demand

Plum an online cosmetic vegan brand founded in 2014, receives over 10,000 shipments every month and has over 35 SKUs ranging from Rs 335 to Rs 575, and monthly adds 4000 new customers every month.

Vegan Bites – a vegan tiffin service based out of Mumbai delivers 250 tiffins across the city everyday and has an annual turnover of Rs 2 crore. Their food is enjoyed by patients suffering from heart ailments and diabetes. 

Vegan dairy i.e. dairy products that do not involve cow or buffalo milk is a boon for the lactose intolerant. Not just that, but vegan milk helps manage a weight that lowers their cholesterol levels, minimises heart risks, and reduces the risk of PCOD in younger women. Vegan milk brands like Urban Platter and GoodMylk are offering unsweetened almond milk, soya milk, coconut milk and peanut curd, vegan butter, vegan mayonnaise respectively. The products are highly demanded since the product is fortified with high protein and gives 40 percent more calcium than regular dairy milk. 

Blush Bee beauty, a brand of ‘clean beauty’ cosmetics that develops beauty products for, faces and eyes completely made of natural ingredients and expects to grow annually by 5 percent in the next five years. 

The future of vegan cosmetics and food in India

There has been an increased emphasis on ethical consumerism that is fuelling the growth of vegan brands be it food or cosmetics. According to data from Market Research Future cruelty-free cosmetics is set to increase 6.1 percent between 2017-2023.

For vegan food brands, though nascent in India but are growing. Customers are looking for alternatives to meat-based products. Consumers are aware of the importance of living a healthy lifestyle, healthy diet, and harmful health effects of consuming red meat for a prolonged period, which will drive vegan behaviour amongst consumers. According to Expert Market Research, the Indian vegan food market is being supported by the growth of the overall global vegan food market, which attained a value of USD 15.4 billion in 2020. The global vegan food market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 26%. 

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