Nirbhay Colours India Ltd

(526349)

The rising promotion of a vegetarian lifestyle by celebrities has caused an increased demand for plant-based food products. In the US, the vegan food sector grew by 17% and the dairy-free sector grew by 30% in 2018 while the overall food sector in the US experienced a growth of merely 3%. For the first time in the US, the retail sales of plant-based foods exceeded 3.3 billion USD. The demand for plant-based proteins, such as soy and other legumes, has also shown an increase of 15%. Additionally, as people are becoming more health-conscious, sales of ready-to-eat food items, such as frozen vegan pizza, vegan macaroni and cheese have also surged in the US. Consumers have also become more aware of environmental and animal welfare issues surrounding animal-based food products. The European area has also seen an increase in demand for plant-based food products, with plant-based milk revenues up 3.6% at 12.7 billion Euro.

The increasing popularity of a vegetarian lifestyle, promoted by celebrities, has raised the demand for plant-based food products in the US and Europe. In the US alone, the vegan food sector experienced 17% growth, dairy-free sector grew 30%, and the overall food sector experienced 3% growth in 2018. For the first time in the US, retail sales of plant-based foods exceeded 3.3 billion USD, which included an increase in demand for plant-based proteins such as soy and other legumes (growth of 15%). Moreover, due to health-concerns, ready-to-eat food items like frozen vegan pizza and vegan macaroni and cheese have seen a surge in demand. Furthermore, consumers have become more aware of environmental and animal welfare issues related to animal-based food products. Similarly, in Europe, plant-based milk revenues rose 3.6% to 12.7 billion Euro.

Share Price: ₹1.00 per share as on 21 Nov, 2024 04:01 PM
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