ID: MRFR/F-B & N/2241-HCR | 169 Pages | Published By Tejas Chaudhary on March 2023
Non-Dairy Cheese Market is expected to grow at a CAGR of 7.8% during the forecast period of 2020-2027.
2020 - 2027
Non-Dairy Cheese Market Overview
Non-Dairy Cheese Market Size is anticipated to reach USD 3 Billion by 2027, registering a CAGR of 7.8% during 2020-2027. Expansion of the use of lactose-free products and excessive use of non-dairy cheese have increased its demand. Nondairy cheese products are cheese variants that are produced from plant-based and other sources. It is of various forms like soft, hard, and mature forms. The most notable aspect of this non-dairy cheese is the absence of any type of animal product. It is highly proteinaceous and is rich in vegetable oil. As with vegetable milk, these cheeses have been made from seeds like sunflower, sesame, nuts, and almonds and are thus cholesterol-free and are rich in protein. Concerning on welfare of an animal, human health and the environment have become the rise in the non-dairy cheese market trend of veganism which has become the mainstream nowadays.
COVID 19 Analysis
The breakdown of COVID has increased the uncertainty of employment. Due to COVID, seating capacity in certain restaurant’s reduced. There was a reduction in the number of employees working in the restaurants. The return of laborers to their own country might affect the availability of skilled labor which led to the reduction of people who were well adjusted to the limited work so available. Many small companies deteriorated while some companies merged with other large companies. Globally all the non-dairy cheese market is facing an unprecedented situation where the market is having difficulty making decisions that are hampering the business.
The government has taken all the necessary steps to protect the people from being infected. He has spread awareness among the people and has imposed countrywide lockdown and shutdown.
Globally, it is marked that North America covers the largest non-dairy cheese market share due to the presence of a large number of intolerant lactose populations. Europe follows the North American region is dominating major market share due to a large number vegan population so present. This growing non-dairy cheese market trend is being continued and has expanded to the Asia Pacific region during the non-dairy cheese market forecast period. This has increased the growing awareness among the consumers especially dealing with the unmatched benefits so given by the plant-based dairy products expanding the global non-dairy cheese market business to other parts of the developing regions.
The market players are concerned about mergers and acquisitions and the launching up of new products. They have put forward various strategies for gaining consolidation and optimizing their offerings. Some of the major key players in the market are Daiya Foods Inc., Galaxy Nutritional Foods Inc., Otsuka, Violife Foods, Tofutti Brands Inc., Bute Islands Foods ltd, Wayfare foods, and many more. The competitive landscape elaborates the market ranking of the key players and developing partnerships with other companies. They create a company profile that consists of a company overview and insights, and SWOT analysis of the key players.
Globally the non-dairy cheese market gives analysis about the major factors affecting the industry size, share, volume, growth, and also about the growing non-dairy market trends and revenue structure. It provides a detailed overview of the segmentation done in the market and about the export, import, and supply chain undergoing in the nondairy market. It provides a detailed analysis of the key players who introduce the market competition among the vendors. It provides details about the recent developments and the developmental policies and plans so imposed for the manufacturing processes. It summaries the international market as well as non-dairy cheese market trends and the developmental status in the key regions. It provides a comprehensive understanding of the supply chain of raw materials.
|Market Size||USD 3 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, By Source, By Distribution Channel, and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Daiya Foods Inc., Galaxy Nutritional Foods Inc., Otsuka, Violife Foods, Tofutti Brands Inc., Bute Islands Foods ltd, Wayfare foods|
|Key Market Opportunities||Increasing demand foe convenience food|
|Key Market Drivers||Increasing lactose intolerance|
Non-dairy cheese market projected to grow at a 7.80% CAGR between 2020-2027.
Europe is expected to lead the non-dairy cheese market.
Non-dairy cheese market is predicted to touch USD 3 billion by 2027.
Non-dairy cheese is widely used in bakery and confectionery, dips and sauces, fast food snack, and others.
Rising incidence of lactose intolerance and growing health awareness are the key factors driving the non-dairy cheese market.