Key market players are engaged in launching an extensive range of plant-based cheese in order to sustain in their market positions.
DUBAI, UAE / ACCESSWIRE / January 4, 2021 / Future Market Insights: As per a new study by FMI the global plant-based cheese market will expand at an impressive CAGR of 15.5% amid the assessment period between 2020 and 2030. The exponential market growth can be mainly ascribed to increasing adoption of plant-based and allergen-free diet in the last decade.
“Rising demand for eco-friendly food products is supporting the global plant-based cheese market. Moreover, the health benefits of the plant-based diet is pushing more people to prefer a vegan diet. As awareness on the health benefits of plant-based diet is rising, the need for several plant-based foods comprising plant-based cheese is projected to surge.“ states the FMI analyst.
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Plant-based Cheese Market – Important Highlights
- North America will remain lucrative in the global market due to increased adoption rate of vegan diet in the region, together with the increase in environmental awareness.
- Oat milk remains majorly preferred source for manufacturing plant-based cheese due to its several health benefits.
- The B2B sales channels will drive the sales in the approaching years.
Plant-based Cheese Market – Drivers
- Initiatives such as public educational advertising campaign to create awareness about veganism will bode well for the market.
- Rising health concerns boost increased adoption of veganism, which continues to create opportunities
- Growing focus on eco-friendly products continues to boost sales
Plant-based Cheese Market – Restraints
- Lack of resemblance in texture and taste amid dairy based alternatives and plant-based cheese remains a challenge
- Increased dependence on availability of a lot of raw ingredients, cost, and time during the production process might hurt market growth.
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COVID-19 Impact on Plant-based Cheese Market
The COVID-19 outbreak initially impacted the plant-based cheese market as cafes, restaurants, and hotels remained closed amid the extended lockdown periods. However, the outbreak fuelled awareness regarding health and people are becoming more aware to keep up their well-being. Widespread adoption of plant-based diet in order to boost immunity is augmenting the market growth of the plant-based cheese.
The global plant-based cheese market is foreseeing increased competition. Majority of the market players are focusing on both the quantity and quality of the products to fortify their foothold.
A few of the key market players identified in the market include Danone S.A., Kite Hill, GreenSpace Brands, Miyoko’s Creamery, WayFare Foods, Field Roast, Daiya Foods Inc., Bute Island Foods Ltd., Upfield, Follow Your Heart, Puris Foods, The Gardener Cheese Company, Inc. and Simply V.
About the Study
The study offers readers a comprehensive assessment of the plant-based cheese market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of source (oat milk source, rice milk source, corn milk source, soy milk source, pea milk source, almond milk source, coconut milk source, cashew milk source, flax milk source, hemp milk source, other milk source), distribution channel (B2B (hotels, restaurants, cafes), B2C (hypermarkets/supermarkets, convenience stores, specialty stores, mom and pop stores, discount stores, food and drink specialty stores, independent small groceries, online retail, others retail formats), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendation
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Plant Based Food 2.0_How novel technologies are disrupting the plant based food industry
3.1. Plant-Based Trend On Rise
3.2. Health Being an Important Quotient Leading to Veganism
3.3. Understanding Consumer Perceptions
3.4. Alternative Proteins: Not A New Idea
3.5. Not All Alternatives Are Created Equal
3.6. Why Opt for Plant-based Alternatives?
3.7. What is Motivating Consumers for Meat Alternatives
3.8. Rise in NPD in the Meat Substitute Market
3.9. Alternative Proteins Are Gaining Share
3.10. Our Meatless Future
3.11. Butchering’ a Traditional Industry
3.12. Global and Government Organizations Are Taking Measures for Reducing Meat Production
3.13. Regulatory Landscape for the Plant-Based Protein
3.14. Factors Driving the Alternative Proteins
3.15. Consumer-Ready Products Available on the Shelves
3.16. Funding from Various Sources is Driving the Meat Substitute Market
3.17. Influence of Technology on the Alternative Protein Market
4. Plant Based Cheese- Recent Developments
4.1. Plant Based Cheese- Recent Developments
5. Global Plant Based Cheese Demand Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Volume (Mn Units) Analysis, 2015-2019
5.2. Current and Future Market Volume (Mn Units) Projections, 2020-2030
5.3. Y-o-Y Growth Trend Analysis
6. Global Plant Based Cheese Market – Pricing Analysis
6.1. Pricing Break-up
6.1.1. Manufacturer Level Pricing
6.1.2. Distributor Level Pricing
6.1.3. Retail Level Pricing
7. Market Dynamics
7.1. Plant-based Cheese Market Drivers
7.2. Plant-based Cheese Market Restraints
7.3. Plant-based Cheese Market Opportunities
7.4. Plant-based Cheese Market Trends
7.5. Macro-economic Factors
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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