Global Demand for Plant-Based Cheese to Surge to US$ 5.3 Billion by 2033 - Fact.MR Report

The plant-based cheese industry is projected for remarkable expansion, with the global market forecast to grow from its current value of US$ 1.3 billion to an impressive US$ 5.3 billion by the end of 2033, marking a compound annual growth rate (CAGR) of 15.1% over the next decade. This surge is driven by rising awareness regarding animal welfare, increasing adoption of veganism, and growing acceptance of plant-based diets worldwide.

The popularity of plant-based foods is reshaping dietary habits worldwide, with a substantial rise in the adoption of vegan cheese alternatives.

𝗚𝗲𝘁 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀
https://www.factmr.com/connectus/sample?flag=S&rep_id=4549

𝗞𝗲𝘆 𝗗𝗿𝗶𝘃𝗲𝗿𝘀 𝗼𝗳 𝗚𝗿𝗼𝘄𝘁𝗵
A confluence of factors is propelling the demand for plant-based cheese. Rising consumer awareness of animal cruelty and the environmental impact of animal-based diets is shifting preferences toward vegan and plant-based alternatives. The high 𝗽𝗿𝗲𝘃𝗮𝗹𝗲𝗻𝗰𝗲 𝗼𝗳 𝗹𝗮𝗰𝘁𝗼𝘀𝗲 𝗶𝗻𝘁𝗼𝗹𝗲𝗿𝗮𝗻𝗰𝗲 and the increasing availability of 𝗱𝗮𝗶𝗿𝘆-𝗳𝗿𝗲𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 are also key drivers. As consumers become more health-conscious, the benefits associated with plant-based food consumption are leading to a surge in demand for vegan cheese alternatives.

" 𝙏𝙝𝙚 𝙥𝙡𝙖𝙣𝙩-𝙗𝙖𝙨𝙚𝙙 𝙘𝙝𝙚𝙚𝙨𝙚 𝙢𝙖𝙧𝙠𝙚𝙩 𝙞𝙨 𝙚𝙣𝙩𝙚𝙧𝙞𝙣𝙜 𝙖𝙣 𝙚𝙭𝙘𝙞𝙩𝙞𝙣𝙜 𝙥𝙝𝙖𝙨𝙚 𝙤𝙛 𝙜𝙧𝙤𝙬𝙩𝙝" said a Fact.MR analyst. "With increasing awareness and demand for sustainable and health-friendly food options, we expect to see significant advancements in product offerings and market expansion."

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗮𝗻𝗱 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗿𝗲𝗻𝗱𝘀

In the 𝗨𝗻𝗶𝘁𝗲𝗱 𝗦𝘁𝗮𝘁𝗲𝘀, the demand for plant-based cheese is being driven by a rising incidence of lactose intolerance and growing acceptance of lactose-free and dairy-free products.

Popular items such as plant-based cream cheese, cheddar cheese, and shredded cheese are expected to see substantial growth, with shipments anticipated to increase at a CAGR of over 𝟏𝟎% over the next ten years.

The 𝗨.𝗞. is experiencing a significant rise in veganism, contributing to an expected CAGR of around 𝟭𝟮% for plant-based cheese sales through 2033.

" 𝙒𝙚 𝙖𝙧𝙚 𝙬𝙞𝙩𝙣𝙚𝙨𝙨𝙞𝙣𝙜 𝙖 𝙛𝙪𝙣𝙙𝙖𝙢𝙚𝙣𝙩𝙖𝙡 𝙨𝙝𝙞𝙛𝙩 𝙞𝙣 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙧 𝙥𝙧𝙚𝙛𝙚𝙧𝙚𝙣𝙘𝙚𝙨," noted a Chief Market Analyst at Fact.MR. "The U.K.'s strong trend towards veganism is setting a precedent that other markets are likely to follow."

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

The competitive landscape of the plant-based cheese market is evolving rapidly. Companies are investing in research and development to create innovative and high-quality products that cater to diverse consumer preferences.

Major players such as Kraft Heinz and Armored Fresh are expanding their portfolios to include a wide range of plant-based cheese products, aiming to capture a significant share of the growing market.

𝗚𝗲𝘁 𝗮 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀
https://www.factmr.com/connectus/sample?flag=RC&rep_id=4549

Global food giant Kraft Heinz unveiled its new line of plant-based cheese slices in November 2022. This launch marks the first product collaboration stemming from Kraft Heinz's joint venture with NotCo, a leading Chilean food-tech company known for its innovative plant-based alternatives. Branded as NotCheese, the product line is expected to hit U.S. shelves in 2023.

Building on this momentum, South Korean food-tech company Armored Fresh announced its U.S. entry in October 2022, launching its plant-based cheese products in over 100 New York City supermarkets. Debuting with three varieties of cubed cheese, Armored Fresh further plans to expand availability through their website in November 2022.

𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝗙𝗼𝗰𝘂𝘀𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁

• Daiya Foods Inc.
• Lyrical Foods Inc.
• Greenspace Brands
• Violife Foods
• Field Roast Grain Meat Co. Inc.
• Lisanatti Foods Inc.
• Follow Your Heart
• Danone S.A.
• Miyokos Creamery
• Bute Island Foods Ltd.
• Gardener Cheese Company
• Galaxy Nutritional Foods Inc.
• WayFare Foods
• Otsuka Holdings Co. Ltd.

Innovative plant-based cheese companies are employing new techniques and investing in research to create novel products. For instance, Grounded Foods Co. uses hemp seeds and cauliflower for nut-free cheese, while Stockeld Dreamery offers pea protein-based feta.

Change Foods is developing animal-free cheese through microbial fermentation, and Spero Foods uses cost-effective ingredients like agave and sunflower seeds. ClimaxFoods is advancing dairy-free cheese using machine learning for ingredient optimization. These efforts are transforming the cheese market with diverse, sustainable options.

𝗠𝗼𝗿𝗲 𝗳𝗿𝗼𝗺 𝗣𝗹𝗮𝗻𝘁-𝗯𝗮𝘀𝗲𝗱 𝗖𝗵𝗲𝗲𝘀𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁
https://www.factmr.com/report/4549/plant-based-cheese-market

𝗙𝘂𝘁𝘂𝗿𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸

The future of the plant-based cheese market looks promising, with significant opportunities for growth and innovation. As consumer preferences continue to shift towards healthier, more sustainable options, the demand for plant-based cheese is expected to rise steadily.

Manufacturers that can adapt to these changing trends and offer high-quality, versatile products will be well-positioned to thrive in this booming market. Manufacturers are not only focused on expanding their product portfolios but are also working on improving the availability and distribution of plant-based cheese through various retail channels.

𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗳𝗿𝗼𝗺 𝗙𝗮𝗰𝘁.𝗠𝗥

𝗣𝗹𝗮𝗻𝘁-𝗕𝗮𝘀𝗲𝗱 𝗦𝘂𝗽𝗽𝗹𝗲𝗺𝗲𝗻𝘁 𝗠𝗮𝗿𝗸𝗲𝘁
https://www.factmr.com/report/1331/plant-based-supplement-market

𝗣𝗹𝗮𝗻𝘁-𝗯𝗮𝘀𝗲𝗱 𝗙𝗶𝘀𝗵 𝗠𝗮𝗿𝗸𝗲𝘁
https://www.factmr.com/report/plant-based-fish-market

𝗣𝗹𝗮𝗻𝘁-𝗯𝗮𝘀𝗲𝗱 𝗦𝗸𝗶𝗻𝗰𝗮𝗿𝗲 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗠𝗮𝗿𝗸𝗲𝘁
https://www.factmr.com/report/plant-based-skincare-products-market

𝗟𝗼𝘄 𝗙𝗮𝘁 𝗣𝗹𝗮𝗻𝘁 𝗕𝗮𝘀𝗲𝗱 𝗗𝗶𝗲𝘁 𝗠𝗮𝗿𝗸𝗲𝘁
https://www.factmr.com/report/low-fat-plant-based-diet-market

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