Global Vegan Cheese Market Expected to Reach $2.5 Billion by 2021
The rising demand for plant-based foods has led to a boom in dairy-free alternatives. The global market for vegan cheese has been growing exponentially and research shows it will reach $2.5 billion before this year ends.
Plant-Based Cheese Market to Reach $2.5 Billion by EOY
Transparency Market Research, a market intelligence company, published a report that predicted the overall growth of the vegan cheese market, expecting it to reach $2.5 billion before 2021, and increasing to $7 billion by the end of 2030.
It is well documented that dairy consumption can lead to many health risks and potentially cause a lot of illnesses. Many people find that in their effort to be healthier, plant-based milk and butter were easy to switch to, while cheese tends to be the most difficult to give up.
Better Vegan Options Will Help Consumers Switch From Dairy
With the growing cheese market, there will be a wider variety of plant-based cheeses as well as more options to choose from for personal taste preferences. The expanding variety of dairy-free alternatives will help more people to ditch dairy for good, which not only benefits consumer health but also the environment and animal welfare.
“Climate change, mounting concerns related to animal cruelty, and health are some of the leading factors that are driving the vegan movement worldwide. At present, veganism is at its peak and the trend is likely to continue in the near future," the report says.
The key players in the market contributing to this growth include fan-favorites Violife Foods, Daiya, Kite Hill, Miyoko's Creamery, Follow Your Heart, Parmela Creamery and Field Roast. Brands continue to surprise consumers with different innovations of nut or plant-based "cheeses" that taste just like the real thing.