Sales in the plant-based cheese market are estimated to reach US$1,530. 2 million in 2022. According to Future Market Insights (FMI), the total market price is expected to grow at a CAGR of 8. 4% from 2022 to 2032, to reach US$3,416. 6 billion.
Plant-based cheese lowers blood sugar, improves insulin sensitivity, and reduces the risk of type 2 diabetes, among other fitness benefits. In addition, plant-based cheese is ideal for other people who are susceptible to dairy products.
Consumer preference for allergy-free and plant-based foods has led to a recent expansion in the plant-based cheese market. In the last five years, the acceptance of veganism in society has nearly doubled to an all-time high. Following vegan nutrition is helping to spread this lifestyle.
The increased number of organic products has driven the expansion of the plant-based cheese market. More than 92% of greenhouse fuel emissions related to cheesemaking are attributed to the dairy farm. Since plant-based cheese is much more environmentally friendly, it’s gaining popularity.
Lately, North America has the largest share of the global plant-based cheese market. The spread of veganism among North Americans and environmental awareness are contributing to the continent’s prosperity. The prospects for expansion in EMEA, the world’s second-largest plant-based cheese market, are considerable. Demand for plant-based cheeses is expanding across Europe as the number of vegans increases.
The nutritional benefits of oat milk make it an excellent choice for producing plant-based cheese. Vitamin B is abundant in oat milk and is smart on your bones. It also has many physical health benefits. Because it is lactose-free and gluten-free, it is best for people with food, lactose, and gluten sensitivities.
Key Market Research Takeaways
“Plant-based cheese makers could make a profit by focusing on the non-dairy market. The vegan ingredients sector could simply be a potential market for plant-based cheese, which is gaining popularity around the world,” says an analyst from Future Market Outlook.
Competitive Landscape
Major players in the plant-based cheese market are intensifying their studies and efforts to improve the quality of their products.
Daiya Foods Inc. introduced a new service platform in October 2021, aiming to help operators meet consumers’ growing demands for plant-based foods. This new portal aims to strengthen the company’s presence on university campuses, restaurants and healthcare facilities.
Following the launch of the company’s Flora logo in 2020, Violife Cheese, manufactured through Upfield Holdings B. V. , entered the Middle East market in July 2021. The product is available in the United Arab Emirates, Saudi Arabia, Doha, Oman, and Bahrain. .
Segments Covered in the Plant-Based Cheeses Market Analysis
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner, and member of the New York Chamber of Commerce) offers an in-depth look at the driving points driving demands in the marketplace. FMI is the world’s leading provider of market services. Intelligence, consulting, advisory and occasion facilities for the packaging, food and beverage, customer technology, healthcare, commercial and chemical markets. With an extensive team of more than 5000 analysts worldwide, FMI provides global, regional and local expertise in industry spaces and trends. in more than 110 countries.
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The Associate Vice President of Future Market Insights is deeply committed to uncovering actionable insights for customers and food and beverage stakeholders. It brings a combination of analytics, industry trends, and customer habits to put knowledge into perspective.
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