Non-Dairy Cheese Market Trend | COVID-19 Pandemic Impact, Business Overview by Forecast to 2024
Market Synopsis
The changes in food pattern have led to a drastic increase in demand for non-dairy products. It is likely to gain more traction in the years to come. Market Research Future (MRFR)’s detailed assessment concludes that the global non-dairy cheese market is anticipated to expand at a moderate pace through the forecast period 2017 to 2023. Non-dairy cheese is made of plant-based sources such as rice milk, almond milk, soy milk, and coconut milk. The ongoing trend of veganism in the food & beverage industry is expected to propel the expansion of the market over the next couple of years. Urbanization, globalization, and changes in lifestyle are poised to support the trend in the upcoming years, thus, augmenting the non-dairy cheese market.
Rising awareness about lactose intolerance and increasing population of lactose intolerant consumers has motivated the leaders of the food industry to introduce plant-based products. Lactose intolerance can lead to health issues such as abdominal bloating, skin problems, diarrhea, sleep disturbances, etc. which is anticipated to generate more demand for non-dairy products in the nearby future. The trend is anticipated to gain more popularity over the next couple of years. This, in turn, is projected to favor the proliferation of the non-dairy cheese market across the assessment period. Also, the availability of non-dairy products is encouraging a considerable fraction of the population to shift towards it. The change in consumer behavior pattern is supported by rising animal rights activism. Thus, the non-dairy cheese market is expected to propel remarkable between 2017 and 2023.
Competitive Dashboard
The important players participating in the competitive landscape of the Non-Dairy Cheese Market Trend are Galaxy Nutritional Foods, Inc. (U.S.), Daiya Foods Inc. (Canada), Violife Foods (Greece), Tofutti Brands Inc. (U.S.), Kite Hill Cheese (U.S.),Bute Island Foods Ltd (U.K.), and Follow Your Heart (U.S.).
Industry News
In May 2019, high street retailer Marks & Spencer has added vegan products to its portfolio which includes mozzarella sticks, mac & cheese bites, churro, and plant-based sausage rolls.
In April 2019, vegan food company, One Planet Pizza, has launched its range of frozen pizzas for the U.K. market.
In April 2019, Walmart Inc., an American multinational retail corporation, has added vegan cheese slices available in smoked Gouda, cheddar, and Swiss to its deli cases across Canada. The cheese is made by Nafsika’s Garden.
In April 2019, fast food chain White Castle has revealed its plan of finding the “perfect vegan cheese” for its meatless burger.
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Market Segmentation
By source, the global non-dairy cheese market has been segmented into soy milk, almond milk, coconut milk, rice milk, and others.
By application, the non-dairy cheese market is segmented into fast food snack, dips & sauces, bakery & confectionery and others.
By product type, the global non-dairy cheese market is segmented into mozzarella, parmesan, cheddar, cream cheese, and others.
By distribution channel, the non-dairy cheese market is segmented into store based and non-store based.
Regional Analysis
The global non-dairy cheese market, by region, has been segmented into North America, Europe, Asia Pacific and the Rest of the world (RoW). Europe is forecasted to exercise dominance over the market during the projection period. Urbanization in conjunction with the explosion of the middle-income population is poised to expedite the growth pace of the non-dairy market in the region. Also, the growing trend of veganism is expected to influence the expansion of the market positively over the next couple of years. North America is likely to exhibit a similar pattern and grow significantly through the assessment period. The regional market is anticipated to strike a CAGR of 7.79% over the review period.
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