Vegan Cheese Market Outlook:
Vegan Cheese Market is projected to grow at a CAGR of 8% during the forecast period 2022-2029
Veganism's growing acceptance, particularly among millennials, has fueled industry expansion. Consumers are increasingly choosing plant-based goods as a result of growing awareness of animal cruelty and the severe environmental implications of the dairy sector. The COVID-19 pandemic has provided some relief to the market, as people throughout the world have developed a newfound interest in home cooking.
The growing awareness regarding animal cruelty and the negative impacts on the environment caused by the dairy industry has encouraged consumers to opt for plant-based products.
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Shifting consumer food preferences and evolving trends in the food and beverage industry are driving the demand for vegan cheese across the globe.
The market for dairy-alternative cheese is expanding, consumption patterns are changing, there are more vegan consumers, there is globalization, and there is a growing awareness of lactose intolerance issues. High prices, however, can impede market expansion.
Regional Analysis:
The global market is geographically classified into North America, Europe, Asia Pacific, Latin America, middle East and Africa and Rest of the world.
Europe accounted for the largest revenue share of more than % in 2021 and will retain its leading position throughout the forecast years.
Asia Pacific is estimated to be the fastest-growing regional market at a CAGR % from 2022 to 2030. The growing demand for plant-based bakery and confectionery products in the Asia Pacific region is expected to fuel the sales of the product. China, Japan, and Australia are the key contributors to the growth of the Asia Pacific market.
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Vegan Cheese Market Major Companies:
Some of the key players contributing to the market's growth include Miyoko’s Creamery, Tofutti, Violife, Daiya, Treeline, Dr. Cow, Sister River Foods, Heidi Ho, Kite Hill and Punk Rawk Labs, among others.
Market Segmentation:
By Product Type:
• Mozzarella
• Parmesan
• Cheddar
• Gouda and Cream cheese
By Product Form:
• Shredded
• Blocks
• Sliced
By Source:
• Soy
• Nuts and Seeds
• Coconut
• Flour
• Root vegetables and Aquafaba
By Distribution Channel:
• Online Retail
• Offline
By Application:
• Snacks
• Bakery & confectionary
• Dips & sauces
• Others
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DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.
We monitor and analyse the market by dissecting various market influencers, competitive intensity, innovations, trends, and emerging products. This aids us in providing a detailed scenario of the present and future of the market.
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DataM Intelligence 4Market Research LLP
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