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Demand for Plant-Based Cheese Market is Estimated to Grow at a CAGR of Over 9% by 2027

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Poised to surpass a valuation of over US$ 1,550 Mn by the end of the forecast period (2019-2027), plant-based cheese sales have witnessed a significant surge in the last few years. A spurt in the global vegan population has been increasing worldwide demand for plant-based cheese. Presently, more than 6% of the American population describes themselves as being vegan and recent trends indicate a possible increase in the number of people expressing their interest in vegan diets. Food companies are stepping up to the plate to create mouth-watering, dairy-free cheese that would take plant-based foods to the next level. Other aspects facilitating growth of the plant-based cheese market include changing consumer perception on the importance of health. With clean label trends taking industries by storm, consumers around the globe are also moving away from animal protein to plant-based protein sources. On this premise, the sales of plant-based cheese is projected to grow at an impressive CAGR of more than 9%.

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Key Takeaways from the Market Study

 “Millennials and Generation Z are the primary consumers of plant-based cheese products, owing to their proclivity for experimenting with and trying out new foods. The availability of choices is a significant driver of the plant-based cheese market’s expansion,” says a Fact.MR Analyst.

Key Segments Covered

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:

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