Market Research Report
Non-Dairy Cheese Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||708535|
|Published||Content info||107 Pages
Delivery time: 2-3 business days
|Non-Dairy Cheese Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: April 1, 2020||Content info: 107 Pages||
Global Non-Dairy Cheese Market is projected to grow at a CAGR of 8.1% during the forecast period (2020-2025).
Rising Instances of Lactose Intolerance and Increasing Vegan Population Driving the Non-Dairy Cheese Market
Demand for non-dairy cheese and other lactose-free products has drastically increased in recent years. Consumers suffering from lactose intolerance and vegan consumers act as the key factors driving the demand for non-dairy cheese in the global market. Consumers are considering a vegan diet as a sustainable and healthy choice, thus it has gained popularity in recent years. The rising concerns of consumers towards animal products due to ethical reasons are further leading to the consumption of healthier and cleaner products. The key players in the market are investing a huge amount in R&D for new product development.
North America Dominates the Market
North America dominates the global nondairy cheese market as a high percentage of lactose intolerant population is present with an emerging trend for vegan food preferences. Europe is an attractive market as the shift in consumer preference has been observed in the last few years owing to the growing veganism trend in the region. Asia-Pacific is anticipated to grow at a significant growth during the forecast period owing to the high lactose intolerant population is present also the growing awareness among the consumers concerning the unmatched benefits offered by plant-based dairy products driving the growth of non-dairy cheese market in the region.
The key brands are embarking on mergers and acquisitions and new product development as some of their key strategies to achieve consolidation and optimize their offerings respectively. Some of the major key players in non dairy cheese market, globally includes Otsuka (Daiya Foods Inc.), Galaxy Nutritional Foods Inc., Violife Foods, Tofutti Brands, Inc., Bute Island Foods Ltd, WayFare Foods, among others.