Global Plant Based Cheese Market Seeking Excellent Growth 2019-2027| Daiya Foods Inc., Field Roast Grain Meat Co., Inc., Follow Your Heart

Poised to surpass a valuation of over US$ 1,550 Mn by the end of the forecast period (2019-2027), plant-based cheese sales have witnessed a significant surge in the last few years. A spurt in the global vegan population has been increasing worldwide demand for plant-based cheese. Presently, more than 6% of the American population describes themselves as being vegan and recent trends indicate a possible increase in the number of people expressing their interest in vegan diets.

ood companies are stepping up to the plate to create mouth-watering, dairy-free cheese that would take plant-based foods to the next level. Other aspects facilitating growth of the plant-based cheese market include changing consumer perception on the importance of health. With clean label trends taking industries by storm, consumers around the globe are also moving away from animal protein to plant-based protein sources. On this premise, the market for plant-based cheese is projected to grow at an impressive CAGR of more than 9%.

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Global Plant-Based Cheese Market: In-Depth Assessment on Key Segments

The global plant-based cheese market is segmented on the basis of source, form, sales channel

Source-Soy Coconut, Cashew, Almond, Others
Form- Blocks & Wedges, Slices, Spreads, Shreds
Sales Channel-Retail Sales, Direct Sales

This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

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Key Takeaways of Plant-based Cheese Market Study

• Owing to a spurt in healthy lifestyles, North America, led by the U.S. and Canada captured a share of over 30% in 2018
• Retail sales of plant-based milk have paved the way for the growing acceptance of plant-based cheese in North America
• APAC due to its enormous food consumption patterns, is noticing an ever increasing plant based cheese market share. The region is expected to grow at an astounding CAGR of over 11% during the forecast period
• In terms of sales channel, plant-based cheese is primarily distributed through indirect sales channels, third parties and affiliates, while direct sales channels have shown considerable decline in the last few years
• The increase in the number of organized retail outlets worldwide is one of the key factors that will drive market growth for plant-based cheese
• Consumers preferring to purchase plant-based cheese online are expected to boost the e-commerce segment with a CAGR of over 10%.

“The recognition of plant-based dairy products by prominent celebrities and athletes is creating growth opportunities for the plant-based cheese market. Support from respected health organizations such as the PBFC (Plant-Based Foods of Canada) is also driving demand for plant-based cheese” says the Fact.MR analyst.

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