Indian plant milk producer Goodmylk, whose existing portfolio consists of nut- and and oat-based milks, vegan mayonnaise, chocolate, vegan butter and peanut curd, announces it is entering the cheese alternative market with a vegan cheddar product. In January 2020 the startup raised INR 3 cr – the equivalent of over $400,000, in its second seed round.
Samples of the new, clean label cheese product can be ordered through the website at present for the Bengaluru area only, as the brand carries out consumer testing and gathers feedback for further product development.
Vegan business has been steadily increasing in India where a survey in 2019 found that 63% of Indians were willing to replace meat with plant-based options. A study released today finds that the Indian Meat Substitutes Market is estimated to reach over USD47.57 million in value terms by the end of FY2026 and is forecast to grow at CAGR of 7.48% during FY2021E-FY2026F.
However, dairy is a serious business in the country: 187.7 million tons of cows’ milk was produced between 2018 and 2019 whereas between 2000 – 20001 only 80.6 million tons were produced. It is to this issue that Goodmylk sets out to raise awareness.
“Adults [in India] don’t want to simply drink a glass of milk. They use it in their teas and coffees and cakes; here is where vegan products in India need to improve,” said founder Abhay Rangan las year to Sentient Media.