Demand for Vegan Cheese Continues to Grow Worldwide
Consumer trends continue to dictate the course of the food & beverage industry. Consumers are increasingly embracing new food trends and preferences that have stayed in the niche category for a considerable amount of time. However, climate change, mounting concerns related to animal cruelty, and health are some of the leading factors that are driving the vegan movement worldwide. At present, veganism is at its peak and the trend is likely to continue in the near future, as more number of individuals across the world continues to realize the benefits of veganism. As the vegan trend gradually gains mainstream recognition, an array of food brands and companies are expanding their product portfolio and offering vegan products including cheese, bread, ice cream, and biscuits.
Plant-based cheese products gain popularity, as consumers are making the switch from conventional cheese. Sensing the growing interest in vegan cheese, an array of vegan cheese brands have entered the global market due to which, the competition in the vegan cheese market is high. As the demand for vegan cheese grows at an exponential rate, plant-based cheese brands are currently expanding their production capacity to meet the demand. At the back of these factors, along with the growing number of celebrities and influencers advocating the consumption of vegan products, the global vegan cheese market is expected to attain a market value of ~US$ 7 Bn by the end of 2030.
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Research and Development Activities in Full Swing to Successfully Mimic Cheese Formulations
Within the vegan cheese market, research and development is imperative for market growth. Although the sales of vegan cheese continues to grow at an impressive rate, particularly in Europe and North America, the vegan cheese market is playing the catch up game with other plant-based food sectors, including meat and milk. However, as the competition within the current vegan cheese market landscape continues to grow, several companies are increasingly investing resources in research and development to successfully mimic the complex function and flavor profiles of cheese.
Although vegan cheese is gradually crossing over to the mainstream, modern day consumers are more wary of the quality and nutritional content of the products. Thereby, research and development activities are in full swing to mimic the properties of conventional cheese. As plant-based food products continue to gain considerable popularity, the demand for vegan cheese is expected to witness notable growth in the upcoming years.