Increased Preference for Vegan Food to Strengthen the Global Vegan Cheese Market Growth

According to the estimations put forth by Inkwood Research, the Global Vegan Cheese Market is anticipated to grow with a CAGR of 15.08% in terms of revenue during the forecasting period of 2021-2028.

"Browse 67 Market Data Tables and 53 Figures spread over 203 Pages, along with an in-depth TOC on the Global Vegan Cheese Market Forecast 2021-2028."

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Vegan cheese is a plant-based substitute for dairy-based cheese. Vegan cheese comprises ingredients such as cashew, coconut milk, and almonds and is used in similar ways as dairy cheese. Mozzarella, parmesan, ricotta, cheddar, and other products made of vegan ingredients are utilized in preparing dishes like a vegan burger and vegan pizza.

Rising Preference for Vegan Food to Fuel Market Growth
As vegan and vegetarian diets are growing in popularity, consumers increasingly demand more plant-based food options in restaurants and grocery shops. The surging inclination towards vegan as well as vegetarian food has resulted in a significant shift across the food industry. As per the Plant Based Foods Association (PBFA), the vegan retail food sector's worth increased by 11.4% in 2020, reaching an astounding $5 billion. The switch to a vegan diet is accredited to numerous factors. In this regard, the 2019 Global Vegan Survey discovered that over 68% of participants transitioned to a vegan diet in order to take a stand against animal mistreatment and abuse.

Besides, they claimed ethics and concerns associated with animal welfare as their chief motive for the diet change.

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Cheese Spreads is the Fastest-Growing Form
Cheese spread is predominantly prepared using one or more cheeses and processed cheese, in addition to other ingredients such as spices and seasonings, fruits, and vegetables. It is usually spread onto food products like vegetables, crackers, bread, and toast. Cream cheese is also termed fresh cheese that is not aged. Developed primarily in the United States, cream cheese is called soft cheese, as well. Cream cheese and cream cheeses spread are alike since they are utilized virtually in a similar manner and are of the same genre.

Asia-Pacific to Lead the Global Market by 2028
The market growth in the Asia-Pacific is driven by factors such as the notable shift towards a healthy plant-based diet, the rising disposable income, and the surging availability of vegan products. However, the regional market's growth is likely to be inhibited by the dairy industry's prominence.

The industrial rivalry within the global vegan cheese market is intense, with local and international players dominating the space.

Currently, the market is dominated by a significant number of major and minor players. Furthermore, several industry players hold high brand equity, with robust research and development as well as operational profiles.

Some of the top firms operating in the global vegan cheese market include Daiya Foods Inc, Miyoko's Creamery, Galaxy Nutritional Foods Inc, WayFare, etc.

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GLOBAL PLANT-BASED FOOD AND BEVERAGE MARKET - https://inkwoodresearch.com/reports/plant-based-food-and-beverage-market/

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

This release was published on openPR.