Plant-based Cheese Likely to Exhibit 14.3% CAGR, Rising at an Impressive Rate between 2017 and 2025

Plant-based cheese, often known as vegan cheese, is a dairy-free option for customers who choose not to consume animal products. Plant-based cheese is high in protein and low in cholesterol. Soy milk, coconut milk, rice milk, peanut milk, almond milk, cashew milk, hazelnut milk, vegetables, and other ingredients are used to make plant-based cheese. Plant-based cheese is available in a variety of forms, including shredded, cream cheese, block & sliced, soft cheese, and cheese dips. Due to lactose sensitivity, consumers are gravitating toward plant-based cheese.

Over the forecast period, demand for plant-based cheese products is anticipated to rise due to an increase in vegan consumers and consumer preference for dairy product substitutes due to lactose intolerance. According to the Vegan Society, the number of vegans in the United Kingdom tripled between 2014 and 2018. Vegans numbered 150,000 in 2014 (0.25 percent of the population), rising to 600,000 (1.16 percent of the population) in 2018.

Dairy-based cheese goes through several phases of processing during which proteins physically link to one other, allowing it to give distinct tastes and textures. Plant-based cheese, on the other hand, cannot provide the same tastes as dairy-based cheese, which are derived from the coagulation, acidification, pasteurization, and aging of milk, and this aspect may limit the market expansion of plant-based cheese.

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During the projected period 2017-2025, the Plant-based Cheese Market is expected to expand at a significant Compound Annual Growth Rate. Plant-based Cheese Market Report by Region: North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, and the Rest of the World (ROW). Market segmentation is discussed in terms of Product Type and Applications.

According to a new CMI Report study, demand for plant-based cheese is expected to grow at a CAGR of 14.3 percent between 2021 and 2031, indicating a fourfold rise. The market is expected to be worth US$ 924.4 Mn in 2021, rising to US$ 3.2 Bn by 2031.

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 Tree nut Cheese, Miyoko’s Kitchen, Bute Island Foods Ltd., Violife, Kite Hill, Dr-Cow Tree Nut Cheese, VBites, and Green Vie Foods.

The report includes chapters that deeply display the following deliverable about the industry:
• Plant-based Cheese Market Research Objective and Assumption
• Plant-based Cheese Market Purview - Report Description, Executive Summary, and Coherent Opportunity Map (COM)
• Plant-based Cheese Market Dynamics, Regulations, and Trends Analysis - Market Dynamics, Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system Launch/Approvals, Value Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Plant-based Cheese Market, By Regions
• Plant-based Cheese Market Competition by Manufacturers including Production, Share, Revenue, Average Price, Manufacturing Base Distribution, Sales Area, and Product Type.
• Plant-based Cheese Market Manufacturers Profiles/Analysis including Company Basic Information, Manufacturing Base and Its Competitors.
• Plant-based Cheese Market Manufacturing Cost Analysis including Key Raw Materials and Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market Positioning, and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer Preference Change and Economic/Political Environmental Change.
• Plant-based Cheese Market Forecast including Production, Consumption, Import, and Export Forecast by Type, Applications, and Region.
• Research Findings and Conclusion

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