Plant Based Cheese Market Quantitative Market Analysis, Current And Future Trends 2021 – 2031

According to a recent report by Fact.MR, the worldwide plant-based cheese market will expand at a 15.5 % CAGR between 2021 and 2031, as veganism gains acceptance throughout the world. As per the report, the market is slated to be valued at US$ 3.9 Bn by the end of the aforementioned forecast period.

From 2016-2020, sales of plant based cheese surged at an impressive 9% CAGR. During the COVID-19 pandemic, prospects further widened, as an increasing proportion of consumers began adopting plant based diets amidst fear of contracting the virus via consumption of animal based products.

Lactose intolerance and milk allergy are two further causes contributing to the growth of ‘vegan’ lifestyles. Consumers are strongly advised by several regulatory bodies to use plant-based cheese. Similarly, in 2019, the European Commission plans to create a legal definition of plant-based food that will serve as a category standard. The aforementioned factors are likely to increase the plant based cheese market over the forecast period.

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Market Scope Report Of Plant Based Cheese:

A recent study by Fact.MR on the plant based cheese market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering plant based cheese.

The study also provides the dynamics responsible for influencing the future status of the plant based cheese market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the plant based cheese market, along with their product portfolios, enhances the reliability of this comprehensive research study.

In Depth Analysis Of Competitive Landscape:

The growing demand for plant based foods is providing opportunities for both start-ups and established companies to develop new products to address market gaps. Plant based cheese manufacturers keep their prices low. The following are some significant developments in the market for plant based cheese:

• In October 2021, Daiya Foods Inc. unveiled a new foodservice website, designed to help operators meet growing consumer demand for plant based foods. This new online interface aims to expand the company’s visibility across college campuses, restaurants and healthcare facilities
• In July 2021, Violife Cheese, manufactured by Upfield Holdings B.V, has made its foray into the Middle Eastern market, following the introduction of the company’s Flora brand in 2020. The product is sold across the UAE, Saudi Arabia, Qatar, Oman and Bahrain.

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Key Segments Covered In Plant Based Cheese:

• Source

  • Soy Cheese
  • Coconut Cheese
  • Cashew Cheese
  • Almond Cheese
  • Other Plant Based Cheese

• Form

  • Plant Based Cheese Blocks & Wedges
  • Plant Based Cheese Slices
  • Plant Based Cheese Spreads
  • Plant Based Cheese Shreds
• Buyer Type
  • Plant Based Cheese for Households
  • Plant Based Cheese for HoReCa
  • Plant Based Cheese for Food Processors

• Sales Channel

  • Plant Based Cheese Retail Sales
    • Hypermarkets / Supermarkets
    • Departmental Stores
    • Convenience Stores
    • Specialty Stores
    • Online Retailers
  • Plant Based Cheese Direct Sales

Report Benefits & Key Questions Answered

• Plant Based Cheese Historical volume analysis: The industry analysis provides data & insights on historical volume sales of Plant Based Cheese
• Plant Based Cheese Category & segment level analysis: Fact. MR’s Plant Based Cheese sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
• Plant Based Cheese Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
• Post COVID consumer spending on Plant Based Cheese: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior
• Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments
• Plant Based Cheese Merger and acquisition activity: MR’s analysis also includes merger & acquisition activity analysis. Plant Based Cheese  manufacturers and stakeholders will not only know the recent M&As but also understand its impact on competitive landscape and market share
• Plant Based Cheese demand by country: The report forecasts Plant Based Cheese demand by country for 2021-2031, giving business leaders the insights to know fast-growing, stable, and mature markets

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