ID: MRFR/F-B & N/8511-HCR | 90 Pages | Published By Snehal Singh on April 2023
Vegan Sour Cream Market Size is anticipated to reach USD 143 Million by 2027, registering a CAGR of 9.10% during 2020-2027.
Global Vegan Sour Cream Market size is projected to reach approximately USD 143 Million by 2027, at a CAGR of 9.10% from 2020 to 2027. The demand for vegan sour cream is increasing owing to consumer inclination toward a vegan and vegetarian diet. Vegan sour cream is free from dairy ingredients; instead, plant-based ingredients are used in the preparation of vegan sour cream. Rising consumer awareness regarding the adoption of a vegan and vegetarian diet over a dairy-based diet is driving the growth of the vegan sour cream market. The growth of the plant-based food market is also creating an opportunistic market for the players in the vegan sour cream industry. The global plant-based food market is estimated to reach USD 30 billion by 2027. Initiatives by the key players in the vegan sour cream market are driving the market growth. For instance, in February 2019, Good Karma Foods launched plant-based sour cream manufactured with tapioca.
The global vegan sour cream market has witnessed high growth in recent years. Gen Z and millennial populations are primarily inclined toward vegan products, which is driving the vegan sour cream market growth. The demand for plant based-food is also contributing to the expansion of the vegan sour cream market size. Furthermore, the high lactose intolerance population is further driving the demand for the vegan sour cream. For instance, according to the Nation Institute of Health (NIH), about 65% of the adult human population has some lactose intolerance. To cater to the trending consumer needs, market players are focusing on the launch of innovative products with claims such as gluten-free and organic.
Increasing demand for high protein plant-based food products
By Distribution Channel
|Market Size||USD 143 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Source, Category and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||The Kroger Co. (US), Kite Hill (US), WayFare Health Foods (US), Tofutti Brands, Inc (US), Good Karma Foods, Inc. (US), Forager Project, LLC (US), The Dairy Free Co. (US), Earth Island (Canada), DAIYA FOODS INC. (Canada), Follow Your Heart (US)|
|Key Market Opportunities||Increasing demand for high protein plant-based food products.|
|Key Market Drivers||
Vegan Sour Cream market can touch an approximate valuation of USD 131 Million by 2027.
Between 2020 and 2027, the market can advance at a rate of 9.10%.
Vegan sour cream is gaining traction in the market, thanks to the rising consumer preference for vegetarian and vegan diet worldwide.
Soy is the source-based segment can lead the market in the near future.
Europe is the worldwide leader for vegan sour cream.