North America Vegan Cheese Market: Introduction
A recent report published by Transparency Market Research on North America vegan cheese market includesindustry analysis and opportunity assessment for 2021-2031.The overall revenue generated by North America vegan cheese market is estimatedto be US$ 600 Mn in 2021 and is expected toreach US$ 1.4 Bn by the end of forecast period.
Growing Plant-based Food Demand Driving NorthAmerica Vegan Cheese Market
The global dairy industry is experiencing unprecedented level ofcompetitiveness and change, owing to the rise of viable plant-basedalternatives in a variety of categories. Vegan cheese is increasingly beingused in baking products, vegan snacks, and fast food items such as pizza andburgers since it is cholesterol-free.
Plant-based alternatives are no longer considered niche items that needlimited shelf space. Manufacturers will see impressive sales opportunities asthe vegan cheese market continues to develop. Furthermore, a wholesomeplant-based diet can be less expensive than an omnivorous diet. This is fuelingthe demand for mozzarella, cheddar, parmesan, ricotta, cream cheese, and othercheeses.
Another encouraging factor is the rise of customer health consciousness,which is driving up sales of plant-based foods. The health & wellnessindustry has historically performed well and health-related spending hasincreased significantly.
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Increased Awareness for Healthy Diet to IncreaseSales of Vegan Cheese
The increase in customer perception of lactose intolerance is a majordriver of the global vegan cheese market. As a result, vegan cheese, veganmeat, and vegan yoghurt are increasingly common among consumers. According to areport conducted by the National Library of Medicine in 2018,approximately 65 percent of the human population has difficulty digestinglactose after infancy.
Furthermore, a growing number of grocery stores and outlets is beginningto stock plant-based cheese varieties. The change in lifestyles coupledhigh expenditure on high quality products income has contributed to ashift in consumer eating habits, and has made numerous desserts and flavorsavailable to consumers.
As veganism has grown in popularity, food producers have begun toincorporate dairy-free alternatives into their product lines. Plant-basedcheese is gaining popularity in bakeries and fast food restaurants. Quick foodrestaurants such as McDonald's have also started selling plant-based fast foodsuch as plant-based burgers and fries in order to capitalize on the growingdemand for plant-based cheese.
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Rise in Population Adopting Vegan Diet
The rising popularity of vegan and vegetarian food has caused a shift inthe food industry. According to the Plant Based Foods Association (PBFA), thevegan retail food industry’s worth grew by 11.4% inMarch 2020 and hit a staggering $5 billion.With more plant-based choices on grocery store shelves and restaurant menus,the food industry is responding to these demands.
Due to increased awareness of benefits of plant-based dairy products,availability at grocery stores, and increasing trend of flexitarian diet,household consumption of vegan cheese is growing at the fastest rate. It hasgrown in popularity among millennials due to a variety of benefits, includingimproved mental wellbeing and reduced severity of certain allergies.
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