Healthier eating habits and changing lifestyle is fueling the demand for vegan products such as non dairy cheese, plant-based meat, and plant protein in global market.
According to the latest Arizton's market research report, the plant based cheese market size to be valued at USD 2.5 billion by 2024, growing at a CAGR of over 15% during the forecast period.
Non Dairy Cheese Market Growth
The modern generation is becoming more interested in pursuing a healthy lifestyle and gradually shifting towards healthier eating habits. Healthier eating habits and changing lifestyle is fueling the demand for vegan products such as non dairy cheese, plant-based meat, and plant protein in global market. According to several surveys, around 35% suffered from lactose intolerance, 28% from dairy allergies, while other consumers choose to avoid consumption of dairy products to evade the growth hormones, saturated fat, and antibiotics which in turn, is fueling the demand for non dairy cheese across the globe.
Growing Consumer Demand for Clean Label Products
Veganism or vegan diet is often associated with healthy, wholesome, and natural products. Consumers are not only consuming plant-based products but then also looking for whole foods that are free from artificial ingredients and additives. Most vegan foods such as fruits and vegetables, nuts, grains, and oil fall under the category of clean label products. The increasing demand for clean label eating has induced food companies to reformulate processed food by reducing their ingredients list. Companies should focus more on environment friendly packaging and other measures to make the product appealing to the end-users. Such trends and growing demand will boost the non dairy cheese consumption in the global market.
- Market Size & Forecast by Revenue | 2018−2024
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product type, form, source, distribution channel, and geography
- Competitive Landscape – 7 Key Company Profiles and 22 Other Prominent Vendors
Non Dairy Cheese Market – Geographic Analysis
In Europe, the primary reason for reducing consumption of diary product is due to health-related issues such as cholesterol, chronic heart disease, lactose intolerance, and others, or concerns regarding animal rights and environmental issues. The increasing sales of non dairy cheese products in the UK market can be attributed to the changing consumption pattern and rising number of flexitarians in the country. The growing trend of veganism is also fueling the demand for non dairy cheese across the regions. The demand for plant-based cheddar and ricotta cheese is expected to surge, however, mozzarella remains the most consumed non dairy cheese in the APAC region during the forecast period.
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The non dairy cheese market is fragmented in nature and the market vendors basically compete based on product quality, new products, and competitive pricing. The non dairy cheese market is characterized by the presence of diversified international players, local players finds it difficult to compete with international players in terms of quality and technology. In the fast-developing countries market players are trying to expand their presence worldwide during the forecast period. Vendors need to remain abreast of the upcoming products to have a competitive advantage over other vendors. The cost-saving factor is set to become a major point of competition among players to gain an edge over other vendors in the non dairy cheese market. High capital requirement and rapid advances in technology are the major entry barriers for new players.
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