NEW YORK — The vegan cheese market is expected to continue its steady growth on account of the growing trend of veganism, coupled with the increasing consumer awareness about the health benefits associated with cholesterol-free vegan cheese consumption. The global vegan cheese market is projected to register 8.6% CAGR during the forecast period 2018-2028, owing to the myriad factors mentioned in the PMR report.
Individuals with a fondness for cheese have shown a reluctance towards veganism, however the growing awareness about the different vegan cheese options and variants available in the market has altered the scenario completely. As veganism has already gone mainstream, and consumers inclination towards cheese is showing no signs of waning, vegan cheese companies have focused on introducing plant-based cheese substitutes, including cream cheese, parmesan, cheddar, ricotta, to name a few. Leading vegan cheese companies are focusing on introducing cost-effective vegan cheese variants to appeal to a wider, cost-sensitive demographic.
PMR report opines that vegan cheese market has witnessed collective growth in the recent years. It is likely to accelerate further in the forthcoming years, on the back of the growing awareness about the lactose-intolerant conditions, in tandem with a significant shift in eating patterns. The report finds that globally, roughly 75% of the population is lactose intolerant, and suggests that the growing awareness about the potential health impact of dairy products will prompt consumers to shift to plant-based milk products, including vegan cheese, among many other dairy substitutes.
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