North America Vegan Cheese Market: Introduction
A recent report published by Transparency Market Research on North America vegan cheese market includes industry analysis
and opportunity assessment for 2021-2031. The overall
revenue generated by North America vegan cheese market is estimated to be
US$ 600 Mn in 2021 and is expected to reach
US$ 1.4 Bn by the end of forecast period.
Growing Plant-based Food Demand Driving North
America Vegan Cheese Market
The global dairy industry is experiencing unprecedented level of
competitiveness and change, owing to the rise of viable plant-based
alternatives in a variety of categories. Vegan cheese is increasingly being
used in baking products, vegan snacks, and fast food items such as pizza and
burgers since it is cholesterol-free.
Plant-based alternatives are no longer considered niche items that need
limited shelf space. Manufacturers will see impressive sales opportunities as
the vegan cheese market continues to develop. Furthermore, a wholesome
plant-based diet can be less expensive than an omnivorous diet. This is fueling
the demand for mozzarella, cheddar, parmesan, ricotta, cream cheese, and other
cheeses.
Another encouraging factor is the rise of customer health consciousness,
which is driving up sales of plant-based foods. The health & wellness
industry has historically performed well and health-related spending has
increased significantly.
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Increased Awareness for Healthy Diet to Increase
Sales of Vegan Cheese
The increase in customer perception of lactose intolerance is a major
driver of the global vegan cheese market. As a result, vegan cheese, vegan
meat, and vegan yoghurt are increasingly common among consumers. According to a
report conducted by the National Library of Medicine in 2018,
approximately 65 percent of the human population has difficulty digesting
lactose after infancy.
Furthermore, a growing number of grocery stores and outlets is beginning
to stock plant-based cheese varieties. The change in lifestyles coupled
high expenditure on high quality products income has contributed to a
shift in consumer eating habits, and has made numerous desserts and flavors
available to consumers.
As veganism has grown in popularity, food producers have begun to
incorporate dairy-free alternatives into their product lines. Plant-based
cheese is gaining popularity in bakeries and fast food restaurants. Quick food
restaurants such as McDonald's have also started selling plant-based fast food
such as plant-based burgers and fries in order to capitalize on the growing
demand 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 in
the food industry. According to the Plant Based Foods Association (PBFA), the
vegan retail food industry’s worth grew by 11.4% in
March 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.
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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 has grown in
popularity among millennials due to a variety of benefits, including improved
mental wellbeing and reduced severity of certain allergies.
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