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.
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.
By Product Type:
- Gouda and Cream cheese
By Product Form:
- Nuts and Seeds
- Root vegetables and Aquafaba
By Distribution Channel:
- Online Retail
- Bakery & confectionary
- Dips & sauces
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