The non-dairy cheese market will be worth a massive $3.5 billion by 2023, according to a new report released by Market Research Future [MRF].
It names the sector's key players as Daiya Foods Inc, Violife Foods, Follow Your Heart, Bute Island Foods and Tofutti among others.
According to the report: "Non-dairy cheese are cheese made from plant based milk or lactose and casein free milk. Non-dairy cheese is derived from plant based (soy milk, almond milk, coconut milk, rice milk."
Rising number of vegans
The research highlights a number of key reasons the market is growing – claiming globalization and 'changing consumption pattern' as well as an increasing awareness about lactose intolerance are all playing a part – as well as the growing number of vegan consumers.
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