WASHINGTON, Nov. 24, 2022 (GLOBE NEWSWIRE) — Global Vegan Cheese Market is valued at USD 2.2 Billion in 2021 and is projected to reach a value of USD 4.4 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 12.3% over the forecast period 2022-2028.
One of the most significant economic sectors is the Vegan Cheese Market, and consistent growth is predicted going forward. Despite the industry’s volatility, a range of factors could have an impact on its development or demise. This study examines current trends and potential developments to provide a comprehensive overview of the industry. It also provides details on the key players in the industry and their expansion strategies.
The study provides a complete evaluation of worldwide producers and suppliers, as well as their current state and future potential. It also includes information on demand-side variables influencing the global need for, such as rising investment demands, expanding technology, and new laws.
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Vegan Cheese Market Overview:
According to Vantage Market Research, some of the key factors anticipated to accelerate the Vegan Cheese Market growth over the forecast period. Growing consumer acceptance of veganism, particularly among millennials, has spurred market expansion. Sales of vegan cheese are rising due to consumer preferences for plant-based foods, growing public awareness of animal suffering, and negative environmental repercussions of the dairy industry. The market has also been pushed and will continue to be pushed by the prevalence of lactose sensitivity and the vegan diet.
We forecast that the soy-based category in Vegan Cheese Market sales will account for more than 30% of total sales by 2028. Soy milk is an affordable alternative to dairy and contains a perfect ratio of healthy fatty acids and amino acids. As a result, it is an economical…