The North America Vegan Cheese Market would witness market growth of 21.1% CAGR during the forecast period (2020-2026). The rise of flexitarian consumers, who are decreasing meat and dairy consumption by replacing them with plant-based items, is anticipated to be a critical driver in the market.
Besides, the impact of social media and animal welfare rights organizations highlighting the effect of the creation of dairy and meat products on the climate, animals, and consumer health is essential for boosting the demand for vegan cheese. Moreover, well set-up players in the dairy market, for example, Danone, have been entering the plant-based industry to utilize the rising demand. The absence of similarity in texture and taste between the plant-based dairy items and customary dairy items is acting as a leading restraint in the vegan cheese market development.
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.
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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Vegan Cheese Market in North America is expected to register a CAGR of 21.1% 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
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