Vegan
dairy has a range of health benefits such as lower blood glucose
levels, increased insulin tolerance, and a lower risk of type 2 diabetes, to
name a few. Additionally, for those who are sensitive to dairy products, Vegan
dairy is highly suggested.
The sales of Plant Based Cheese Market is estimated to be valued at US$ 1,530.2
Mn in 2022. As per Future Market Insights (FMI), the overall market value is
expected to reach US$ 3,416.6 Mn by 2032, rising at a CAGR of 8.4% for 2022-32.
Factors such as the rise in acceptability of allergen-free
and plant-based meals can be linked to the fast growing market for Vegan dairy
over the last few years. Veganism’s societal acceptability has roughly doubled
in the last five years, reaching an all-time high. Veganism is gaining
popularity, especially when celebrities endorse the practice.
The growth of the Vegan dairy market has been fuelled by an
added focus on eco-friendly products. The dairy farm accounts for more than 92
% of the greenhouse gas emissions associated with cheese production. Vegan
dairy is far more eco-friendly, which is why it is becoming increasingly
popular.
North America presently controls the majority of the global Vegan
dairy market. North America’s progress is being aided by an increase in the
number of people in the region embracing a vegan diet, as well as a rise in
environmental awareness. EMEA is the second-largest market for Vegan dairy
across the globe, with excellent development possibilities in the next years.
In Europe, the growing vegan community is contributing to the growth of the Vegan
dairy sector.
Oat milk is an excellent choice for making Vegan dairy
because of its numerous nutritional benefits. Oat milk is high in vitamin
B and beneficial to bone health. It also provides several health benefits. It
is ideal for people with food sensitivity, lactose sensitivity, and other food
sensitivities because it is lactose and gluten free.
Key Takeaways from Market Study
- The Vegan
dairy market is expected to expand at CAGRs of 31.4% and 26.8% in Europe
and America, through 2032.
- Market
share of oat milk increased by 19% to reach USD 277 Mn in 2021.
- The
North American Vegan dairy market is currently pegged at USD 580 Mn.
- Growing
consumer demand for healthy and nutritious foods, as well as rising
vegetarianism, are propelling sales of Vegan dairy across the globe.
- The
outbreak of COVID-19 has had a good impact on the popularity of vegan
dairy. For a variety of reasons, including supply shortages amongst
traditional meat and dairy products and health concerns, consumers are
increasingly turning to plant-based substitutes.
“Producers of Vegan dairy could generate revenue
if they focus on the non-dairy market. The vegan-based ingredients sector could
be a prospective market for Vegan dairy, which is expanding in popularity
around the world.” says a Future Market Insights analyst.
Competitive Landscape
Key players in the Vegan dairy market are emphasizing their
efforts on research and development in order to improve the quality of their
products.
Daiya Foods Inc. introduced a new service platform in
October 2021, with the goal of assisting operators in meeting rising consumer
requirements for plant-based foods. This new portal intends to increase
the company’s presence on university campuses, eateries, and healthcare
facilities.
Following the debut of the firm’s Flora brand in 2020,
Violife Cheese, manufactured by Upfield Holdings B.V entered the Middle
Eastern market in July 2021. The product is available in the United Arab
Emirates, Saudi Arabia, Doha, Oman, and Bahrain.
Segments Covered in Vegan dairy Market Analysis
Source:
- Oat
Milk source
- Rice
Milk Source
- Corn
Milk Source
- Soy-Milk
Source
- Pea
Milk Source
- Almond
Milk Source
- Coconut
Milk Source
- Cashew
Milk Source
- Flax
Milk Source
- Hemp
Milk Source
- Other
Milk Source
Distribution Channel:
- B2B
- Hotels
- Restaurants
- Cafes
- B2C
- Hypermarkets/Supermarkets
- Convenience
Stores
- Specialty
Stores
- Mom
and Pop Stores
- Discount
Stores
- Food
& Drink Specialty Stores
- Independent
Small Groceries
- Online
Retail
- Others
Retail Formats
Region:
- North
America
- Latin
America
- Europe
- Asia
- Oceania
- MEA
Thanks for reading this article; you can also get
individual chapter wise section or region wise report version like North
America, Europe or Asia.
Read More : https://www.futuremarketinsights.com/reports/plant-based-cheese-market