Vegan Cheese Market to Surpass USD 18 Billion by 2030 due to Increasing Availability and Variety of Vegan Cheese Products
SNS Insider pvt ltd
As per SNS Insider analysis, the rising awareness and adoption of veganism are considered major drivers for the growth of the vegan cheese market. As more consumers become aware of the health and environmental benefits of a plant-based diet, the demand for vegan cheese has surged in recent years
Pune, April 27, 2023 (GLOBE NEWSWIRE) — “The Vegan Cheese Market was valued at USD 2.53 billion in 2022, and it is expected to reach USD 18 billion by 2030, growing at a compound annual growth rate (CAGR) of 13.2% between 2023 and 2030”, as per the report by SNS Insider.
Market Report Scope
Vegan cheese is a dairy-free alternative to traditional cheese that is made from plant-based ingredients such as nuts, soy, and coconut. It is a popular choice among vegans, lactose-intolerant individuals, and those looking for a healthier or more sustainable option. Vegan cheese can come in a variety of forms, including sliced, shredded, and spreadable, and can be used in the same way as traditional cheese, such as in sandwiches, pizzas, and salads.
Market Analysis
The global vegan cheese market has been experiencing rapid growth in recent years, and the trend is expected to continue. One of the primary drivers of this growth is the increasing acceptance of veganism, particularly among millennials, who are more conscious about their food choices and the impact on the environment. With growing awareness about animal cruelty and the negative effects of the dairy industry on the environment, consumers are increasingly opting for plant-based alternatives. This has led to a surge in demand for vegan cheese products, which offer a cruelty-free and sustainable alternative to traditional dairy cheese.
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Impact of Recession
While the vegan cheese market may experience some impact from a recession, its growing popularity, increasing availability, and perceived health and sustainability benefits suggest that…
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