Plant-based Cheese Market growth 2019: Key Vendors Follow Your Heart, Otsuka (Daiya Foods Inc.), Tofutti Brands, Inc., Green Space Brands, Lisanatti Foods, Inc., Treeline Treenut Cheese, Miyoko’s Kitchen, Bute Island Foods Ltd., Violife, Kite Hill, Dr-C

The business reserch report on “Plant-based Cheese Market” Research Report 2018- 2026 covers summery, market outlook, trends, clasification, value chain structure and market key performance by dominant region/ countries. This Report gives you in-detailed data for business strategies, growth prospects and historical and futuristic revenue and costs by analyzing data of key players industry.

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Key Market Players

Major players operating in the global plant-based cheese market include Follow Your Heart, Otsuka (Daiya Foods Inc.), Tofutti Brands, Inc., Green Space Brands, Lisanatti Foods, Inc., Treeline Treenut Cheese, Miyoko’s Kitchen, Bute Island Foods Ltd., Violife, Kite Hill, Dr-Cow Tree Nut Cheese, VBites, and Green Vie Foods.

Market Dynamics

Increasing number of vegan consumers and increasing consumer preference towards dairy product alternatives due to lactose intolerance is expected to increase demand for plant-based cheese products over the forecast period. For instance, according to the Vegan Society, the number of vegans in U.K. quadrupled between 2014 and 2018. In 2014, there were 150,000 vegans (0.25% of the population), which increased to 600,000 (1.16% of the population) in 2018.

Dairy-based cheese goes through various stages of processing where proteins physically bond to each other that enables it to offer unique flavors and textures. However plant-based cheese cannot offer same flavors as dairy-based cheese, which comes from coagulation, acidification, pasteurization, and aging of milk, and this factor can hamper the market growth of plant-based cheese.

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Market Outlook

Among region, North America is expected to witness significant growth in the market over the forecast period, owing to increasing number of people shifting towards plant-based food products, which in turn has led growth of the plant-based food industry. For instance, according to the Plant Based Food Association, in the U.S., plant-based food industry was valued at US$ 4.0 billion in April 2018 and increased by 11% to reach US$ 4.5 billion by April 2019. According to the same source, the U.S. plant-based cheese market was valued at US$ 160 million in April 2019, showing a growth of 19% from the previous year.

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