The report segments the vegan cheese market into product, source, end use, and region.
PORTLAND, OR, UNITED STATES, September 2, 2021 /EINPresswire.com/ — Vegan cheese is entirely plant-based food product is one of the dairy alternatives. Various plant-based milk sources are used to make vegan cheese, which includes soy milk, coconut milk, peanut milk, almond milk, and oat milk. Growth in flexitarian and vegan population and rise in voice against animal slaughtering and concerning about their welfare are major attributes for the growth of the vegan cheese market during the forecast period. Vegan cheese in the diet adds benefits to individual physiological state. Furthermore, lactose indolent and dairy allergic people are increasingly inclining toward the plant-based foods. As plant-based food products provide protein, vitamins, and carbohydrates like dairy product.
The Vegan Cheese market size was valued at $1,237.8 million in 2019, and is estimated to reach $4,425.6million by 2027, registering a CAGR of 15.5% from 2021 to 2027.
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The vegan cheese market growth is primarily attributed to a host of factors, including consistent rise in the number of vegan consumer base worldwide, growing awareness regarding the benefits of vegan food products, mounting environment protection concerns, animal welfare, and evolving consumer trends.
Vegan cheese is one of the plant-based non-diary food products, which has been gaining significant popularity among the vegan and flexitatrian population. Dynamic changing food consumption pattern and increase in awareness among population regarding lactose intolerance drive the market growth. Furthermore, increase in animal welfare concerns coupled with rise in demand for diary analogue products further boost the market growth.
However, animal-based cheese gained extreme popularity among consumer, which is likely to be very intense challenge for the vegan cheese manufactures to gain attention. High prices and lack of awareness are anticipated to hinder the growth of the vegan cheese market during the forecast period.
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The players in the vegan cheese market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Bute Island Foods Ltd, GreenSpace Brands, violifefoods.com, Vtopian Artisan Cheeses., Chicago Vegan Foods, Gardener Cheese Company, Tofutti Brands Inc., Kite Hill, DAIYA FOODS INC., and Nush Foods
Key Benefits For Stakeholders
The report provides a quantitative analysis of the current vegan cheese market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the market size and segmentation assist to determine the prevailing vegan cheese market opportunities.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the vegan cheese industry.
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