According to a new report Global Vegan Cheese Market, published by KBV research, The Global Vegan Cheese Market size is expected to reach $3.3 billion by 2026, rising at a market growth of 22.3% CAGR during the forecast period.
The segment of soy cheese is anticipated to foresee solid gains over the forecast period as these items give anticholesterolemic, antiatherogenic, and hypolipidemic properties. It is a low-cost alternative for dairy and it has a total balance of important unsaturated fats and amino acids.
The household segment dominated the market in 2019. With the expansion in the disposable income of consumers and eagerness to spend on premium items, the utilization of plant-based cheese has dominated the household segment. The simple availability of the items in markets and convenience stores has supported the development of this segment.
Mozzarella held the biggest revenue share in 2019. Its broad application in different recipes bolsters the development of the product segment. Mozzarella is broadly utilized in Italian foods, for example, pasta, pizzas, croquettes, risotto, lasagna, and Caprese salad in form of a block, slice, cube, shreds, and spread.
Europe represented the biggest revenue share in 2019. Germany and the U.K. are the significant business sectors of the region. The high buying intensity of the consumers permits them to spend on premium food items, for example, vegan alternatives, including plant-based cheese.
Asia Pacific is anticipated to observe the highest development during the forecast period with a significant CAGR from 2020 to 2026. Changing purchaser food habits and expanding awareness regarding health among the consumers of the region have been boosting the demand for the item. China, Japan, and Australia are the leading business sectors of vegan cheese in the region.
Structural Insights: https://www.kbvresearch.com/vegan-cheese-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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