FeedingTrends
a year ago
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Sales of Plant-Based Cheese Accounts for Us$ 1.3 Billion by 2023

According to a recent FactMR report, the global plant-based cheese market will grow at a 15.5% CAGR between 2021 and 2031 as veganism gains popularity around the world. According to the report, the market will be worth US$ 3.9 billion by the end of the forecast period.

Plant-based cheese sales increased at a 9% CAGR between 2016 and 2020. During the COVID-19 pandemic, prospects expanded further as an increasing proportion of consumers began eating plant-based diets out of fear of contracting the virus from animal-based products.

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The Plant Based Cheese Market Demand study has a good readability rating because it is organised chapter by chapter, with each component broken down into smaller pieces. The report includes graphs and tables to demonstrate the entire assembly. When critical segment values are illustrated with both firm and approximate values, readers find it visually appealing. This Plant Based Cheese market outlook report explains key dynamics such as key players’ drivers, restraints, and opportunities. It also offers a competitive analysis of Plant Based Cheese, highlighting both established and emerging players involved in the product’s production.

Plant Based Cheese Consumption Analysis 2016–2020 Vs Outlook 2021–2031

Plant-based cheese sales increased at a CAGR of 9% between 2016 and 2020. Increased adoption of vegan lifestyles in the face of mounting animal welfare and environmental concerns has propelled the market forward over the last half-decade.

Furthermore, shifting consumer tastes for low fat, low sugar, and lactose-free goods are paving the way for plant-based products such as plant-based cheese, driving up demand for plant-based products. During the COVID-19 pandemic, consumption increased even more as consumers began to prefer naturally sourced foods over animal-derived foods.

Competitive Landscape

The growing demand for plant based foods is providing opportunities for both start-ups and established companies to develop new products to address market gaps. Plant based cheese manufacturers keep their prices low. The following are some significant developments in the market for plant based cheese:

  • In October 2021, Daiya Foods Inc. unveiled a new foodservice website, designed to help operators meet growing consumer demand for plant based foods. This new online interface aims to expand the company’s visibility across college campuses, restaurants and healthcare facilities

  • In July 2021, Violife Cheese, manufactured by Upfield Holdings B.V, has made its foray into the Middle Eastern market, following the introduction of the company’s Flora brand in 2020. The product is sold across the UAE, Saudi Arabia, Qatar, Oman and Bahrain

Learn about the global market’s drivers, restraints, opportunities, and trends.

  • Explore key regions that account for a sizable portion of total market revenue

  • Analyse the global market scenario’s growth outlook, including production, consumption, history, and forecast.

  • Discover the consumption patterns and the impact of each end use on market growth.

  • Evaluate each market participant’s most recent R&D projects.

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