The Asia Pacific Vegan Cheese Market would witness market growth of 23.9% CAGR during the forecast period (2020-2026). Veganism that was once known as a fashion that would pass by is beginning to go mainstream with millennial boosting the demand. Increasing concerns about the welfare of the animal and expanded awareness with respect to the sustainability offered by the vegan food industry are the primary elements helping the advancement of veganism. Additionally, expanding concerns about health issues relating to the consumption of dairy items is further impacting consumers to move to vegan items.
Recent studies have predicted the utilization of antibiotics, hormones, and allergens on cattle for expanding cattle production making a negative outlook of the dairy business. Further, rising awareness about the environmental pollution caused because of dairy farming activities is boosting the shift towards dairy options. Various key players working in the food and beverages market are venturing into the manufacturing of vegan items to capitalize on the increasing popularity of veganism around the globe. Endorsement of vegan items and the introduction of different new chains by VIPs and sports personalities are further causing an expansion in the demand for vegan items around the globe.
Despite the fact that vegan cheese is steadily crossing over to the mainstream, modern age consumers are more careful about the quality and nourishing substance of the items. In this manner, research and development initiatives are going all out to mimic the properties of traditional cheese. As plant-based food items keep on increasing extensive prevalence, the demand for vegan cheese is anticipated to observe eminent development in the forthcoming years.
Manufacturers across the world are extensively putting resources into product innovation and acquisition to grow their item portfolio and fulfill the rising customer need. Moreover, a few big retail chains have expanded their rack space for plant-based items, thinking about the segment development.
Based on End Use, the market is segmented into Household, Food Service Sector and Food Sectors. Based on Source, the market is segmented into Soy Milk, Almond Milk, Rice Milk and Others. Based on Product, the market is segmented into Mozzarella, Cheddar, Parmesan, Gouda, Pepper Jack and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Vegan Cheese Market in Asia Pacific is expected to register a CAGR of 23.9% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Tofutti Brands, Inc., Upfield Holdings B.V. (KKR & Co., Inc.) (Violife), Dr-Cow Tree Nut Cheese, Daiya Food, Inc. (Otsuka Pharmaceutical), Kite Hill (Lyrical foods, Inc.), Miyoko's Creamery, Parmela Creamery’s, Good PLANeT Foods LLC, Galaxy Foods, Inc. (GreenSpace Brands), and Vtopian Artisan Cheeses.
Market Segmentation:
By End-Use
By Source
By Product
By Country
Companies Profiled
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 