Non-Dairy Cheese Market Comprehensive Analysis, Future Growth, Business Prospects and Develop Rapidly at CAGR of about 7.70% by 2023

Market Overview:

Non-Dairy Cheese Market is projected to grow at the CAGR of 7.70%. Non-Dairy Cheese market has witnessed substantial innovation in terms of new product launches along with research & development and collaboration. Also, the overall disposable income of the consumer is increasing over the past few years which in turn leads to surge in sales of non-dairy cheese during the forecast period.

Cheese is derived from the processing of curd which is further ripened to give peculiar texture, flavor and aroma to the product. The production of cheese involves enzymatic and acid activities. The ageing of cheese gives the desired final product. Non-dairy Cheese are derived from plant based (soy milk, almond milk, coconut milk, rice milk). Non-dairy cheese is different from traditional regular cheese which is manufactured using dairy ingredients. Non-dairy cheese is prepared from plant-based milk and is from lactose and casein. Dairy-free food is considered lactose-free, but a product that is lactose-free is not necessarily dairy-free.

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With changing lifestyle and evolving dietary pattern, convenience food plays an important role in defining the consumers’ food choices in the modern world. The trend of consumption of convenience food began in western world and spread to other regions rapidly which in turn will positively influences the sales of non-dairy cheese market soon. There has been an increasing incident of lactose intolerance for that consumers are inclined to adopt plant-based milk product instead of the animal milk product which is directly proportionate to the sales of non-dairy cheese during the forecast period.

Major Key Players:

This report includes a study of strategies used in the market, mergers and acquisitions in non-dairy cheese, multiple product launch by nondairy cheese market players. It further includes product portfolios and developments of leading major players which includes

The leading market players in the Global Non-Dairy Cheese Market primarily are Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (U.S.), Violife Foods (Greece), Kite Hill Cheese (U.S.), Tofutti Brands Inc. (U.S.), Bute Island Foods Ltd (U.K.), Follow Your Heart (U.S.)

The market players have increased their level of investment in research to identify right formulation and to improve product functionality to capture lion’s share and create brand recognition in nondairy cheese market. Manufacturers indulge in maintaining transparency and allow food traceability to manage and mitigate risk and lowering the impact of recalls and lowering liability costs. The global nondairy cheese market is segmented based on source, application, product type, distribution channel and regions of Non-dairy cheese.

Regional Analysis:

The global Non-Dairy Cheese market is segmented into North America, Europe, Asia Pacific and Rest of the world. Among these, Europe is projected to retain its dominance throughout the forecast period. Europe is estimated to reach to USD 1.58 Bn by the end of 2023. The region is projected to grow at a substantial growth of 7.90% during the review period of 2017-2023. The growth is contributed by the increasing emphasization on vegan diet coupled with the innovative product launch by the key players in the global non-dairy cheese market. However, Asia Pacific region is also estimated to grow at a high pace as compare to the other region owing to the increasing acceptance of plant-based milk products.

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Segments:

Non-Dairy Cheese Market has been segmented based on source such as Almond Milk, Soy Milk, Coconut Milk, Rice Milk and others. Soy milk is estimated to account maximum market proportion of 54.3% by the end of 2017. It is projected to retain its dominance during the forecast period of 2017-2023. Based on application, global non-dairy cheese market has been segmented into fast food snack, dips & sauces, bakery & confectionery and others. Based on product type, global non-dairy cheese market has been segmented into Mozzarella, parmesan, cheddar, cream cheese and others. Based on distribution channel, Global Non-Dairy Cheese Market has been segmented into store based and non-store based.

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