Plant
based Cheese Market: Overview
Plant
based cheese contain ingredients which are not derived from animals
derivatives. Plant based cheese is derived from legumes, vegetables,
grains, fruits, nuts, and seeds. Moreover, plant based cheese is
produced from plant based casein and lactose or milk free milk. Plant
based cheese is derived from plant based soy milk, almond milk,
coconut milk and rice milk. Plant based cheese offers, even more,
options for those consumers who are seeking alternative options to
dairy products consumption. Plant based cheese is trending
substitutes to dairy cheese by imitating animal protein’s texture
and taste.
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Plant
based Cheese Market: Drivers & Restraints
Major
factors driving the growth of plant based cheese market include
changing opinion of consumers regarding importance of pet health,
increasing disposable income, and rising rate of urbanization across
the globe. Consumers across the globe are also moving away from
animal protein to plant based protein sources due to clean label
trend. Moreover, changing consumption pattern, globalization,
increasing awareness about lactose intolerance, and growing number of
vegan consumers are driving the growth of the overall plant based
cheese market. Strong economic growth, the explosion in the
middle-class population, and rising urbanization are the significant
factors responsible for the market growth of plant based cheese
market across the developing region. Also, vegan diet is gaining
traction in the European economies which are expected to boost the
overall market growth of plant based cheese during the projected
period. Plant based cheese is primarily the re-birth of fat-free
protein, anti-oxidant rich green juices and vegetables beneficial for
health. Currently, manufacturers of plant based cheese are targeting
the market for desserts in order to make their products tastier and
healthier by using dairy free nut based milk for lactose intolerant,
vegan and health conscious consumers.
The
major opportunities for plant based cheese market lie with snacks
based products that are overtly plant-based, dairy-free, and
gluten-free, such as beans, seaweed, chickpeas and others. Nearly
10-15% consumers in Europe consider themselves as vegetarians.
Increasing incidence of lactose intolerance across the globe is
responsible for the high demand of soy milk plant based cheese.
Lactose intolerant population suffers from dairy product allergy,
lactase deficiency, disaccharide deficiency, or milk intolerance and
the partly undigested or digested lactose leads to pain, abdominal
bloating, diarrhea, skin problems, sleep disturbances, tiredness, and
other health problems. The foodservice industry plays a key
intermediary role between producers and processors at one end and
consumers at the other end. The market concentration and
consolidation of foodservice industry create multitude of
opportunities for the market growth of plant based cheese market
across the globe.
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Plant
Based Cheese Market: Regional Outlook
With
respect to geography, the global plant based cheese market has been
categorized into five key regions including North America, Europe,
Asia-Pacific Latin America, and the Middle East & Africa. North
America currently holds major share in terms of market value in
global plant based cheese market, with U.S. being the largest
producer of plant based cheese across the region. The growing vegan
population in Europe is expected to boost plant based cheese market
in the region. APAC plant based cheese market is expected to register
highest CAGR over the forecast period. This is attributed to the rise
in demand for natural and organic derived plant based food and
beverage products among health conscious consumers. Growing
investments in the development of diary free alternatives space is
anticipated to propel the growth of global plant based cheese market.
Middle East and Africa along with Latin America plant based cheese
market is expected to project high growth rate during the forecast
period, due to the rapid growth of nutraceutical, food and beverage
industry in the region.
Plant
Based Cheese Market: Key Players
The
leading manufacturers of plant based cheese market are expanding
their presence in developing economies by offering wide range of
products across various industry verticals. Plant based cheese brings
the wealth of opportunities in the coming years and companies such as
DanoneWave and Coca-cola were the first to acquire this booming arena
of health domain. Some of the key players identified in the plant
based cheese market are:-
The
Plant based Cheeses Co.
- Glanbia, Plc
- Paleo Baking Company
- Epic Provisions
- Paleo Braaap, LLC
- PRIMAL PACS
- Black Bear GmbH
- Blue Mountain Organics
- Back Roads Food Company
- Plant based Cheese Prodotti Per La Dieta Paleo
- Paleo snacks
- Caveman Foods
- PaleoPure
- Pacific Foods of Oregon
- Paleo Baking Company
- Steve's PaleoGoods (SPG)
- Paleo Leap,
- Others
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