Growing demand for dairy alternatives and increasing demand for organic alternatives to dairy products remains a major driver for growth in the vegan cheese market. The large population in major countries like the US continue to display aversion to lactose. According to the National Institute of Diabetes and Digestive and Kidney Diseases, over 30 to 50 million Americans are lactose intolerant. Moreover, the issue is a major barrier to their consumption of food as their stomachs cannot digest the natural sugar found in milk and dairy items. Furthermore, this often leads to a health concern among the population, as people with lactose intolerance have a deficiency of lactase, an enzyme found in the small intestine. Hence, the deficiency likely remains permanent, and will drive robust growth for alternatives like vegan cheese. The growing lactose-intolerance among the American population, growing demand for vegan alternatives, and tremendous rise in cost-effectiveness of vegan products remain promising drivers of growth for the vegan cheese market.
Growing Awareness About Health Will Remain Key to Growth
American Academy of Nutrition & Diabetics, and British Dietetic Association have recognised that healthy vegan diets are suitable for all ages, and stages of life. Moreover, growing research also shows that vegan diets lead to lower cholesterol, blood pressure, lowered risk of heart disease, type 2 diabetes, and some forms of cancer. Moreover, the risk remains a leading cause of fatalities across the globe, as cardiovascular diseases, including heart disease continue to plague healthy populations. The rising fatalities due to conditions like heart disease, stroke, and rising sedentary lifestyle, and growing awareness about the risks associated with this lifestyle continues to promise major growth for the vegan cheese market.
Plant-based Diets Likely to Grow as More Americans Sign-up for Vegan Meals
A 2018 consumer study shows that one-third of the American adult population is moving towards flexitarians. The flexitarian is a new-term for consumers who are flexing traditional boundaries to drive growth of new products. This demand has led to promising consumer shifts for vegan products. For example, KFC, the largest meat-based chain recently introduced a vegan burger to cater to growing demand for vegans or vegetarians. Studies also show that Brands like Beyond Meat continue to display promising growth with as much as 70% of its consumer base are reported flexitarians. Moreover, 17.9% of US consumers seek plant-based meats, while 13% eat meat only occasionally.
Rising Penetration of Social Media Promises New Growth Opportunities
The social media based marketing has been a revolution for the vegan industry. Earlier, the established meat, and poultry industry remained in the headlines. However, with the growth of social media, products like vegan cheese are reaching new-age consumers with a growing tilt towards health consciousness. The trend will likely remain key to growth of vegan products like vegan cheese in the near future.
Among different types of vegan cheese products, the mozzarella cheese remains the most variety of new-age products. The easy availability of mozzarella, the conventional appeal among consumers, and low-cost availability of ingredients remain key drivers of growth for the vegan cheese market.
Some key players in the vegan cheese market are UPrise Foods, Daiya Foods Inc., Kite Hill, Mad Millie, Go Veggie, Nush, Tesco Free From, among others.
The Vegan Cheese Market Report is Segmented as Below:
Rest of Europe
Rest of APAC
Rest of South America
Middle East & Africa
Rest of MEA
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