Grocery retail startup The Organic World (TOW) is making significant strides in response to the burgeoning vegan trend. In a recent press release, TOW announced its foray into the vegan product category, introducing four new items to its lineup. The decision to diversify the product range was fuelled by a rising interest among customers, according to Gaurav Manchanda, the founder and managing director of The Organic World.
Initially incorporating fundamental vegan products like tofu and chocolates, TOW has since expanded its offerings to include a broader array, ranging from ice cream and bread to beauty products. The expansion aligns with the growing demand for vegan options on the market.
Market research conducted by IMARC indicates that the Indian vegan food market is poised for substantial growth, with an estimated size of USD 2,463 million by 2028. The projected growth rate stands at an impressive 19 percent during the period from 2023 to 2028.
Recognizing the market potential and increasing consumer demand, TOW has set an ambitious yet targeted goal to establish itself as the leading player in the vegan space. As part of its strategy, the company aims to achieve 10 percent of its total sales from the burgeoning vegan category.
Founded in 2017, TOW is a part of the Nimida Group and presently boasts a diverse range of over 200 stockkeeping units (SKUs). The company’s expansion into the vegan category signifies its commitment to catering to evolving consumer preferences and capitalizing on the growing market for plant-based products.