The global vegan cheese market is likely to grow at an impressive rate, fuelled by ‘growing awareness of animal cruelty‘ and environmental and health concerns…
The global vegan cheese market will exceed a staggering $9 billion (£7.3 billion) by the year 2032, a new report has predicted.
New research from The Brainy Insights, says the industry will grow at a CAGR of 12.8 percent over the next nine years.
Market researchers cite growing awareness of animal cruelty and environmental concerns as the main drivers for growth.
New launches
Europe currently dominates the global vegan cheese industry – with a market share around 36.1 percent.
This follows a slew of recent launches – from Cathedral City’s new plant-based range to Violife’s new eco-friendly Cheddar.
While many of these mainstream plant-based cheese brands are coconut-based, cashew-based cheeses hold the largest market share globally. This can be attributed to an increase in awareness of health concerns, as cashew-based cheese is perceived as a more nutritious option.
Growing demand for vegan pizzas may also be behind the rising popularity of vegan cheese, as vegan mozzarella dominates the global market.
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Vegan cheese market to skyrocket
“Because people are worried about the treatment of animals in the dairy industry, a lot of individuals are searching for cruelty-free alternatives,” the report states.
“For those who would rather not support the mistreatment of animals, vegan cheese provides a morally sound alternative since it is made entirely of plant-based ingredients.”
The report added that more consumers are becoming aware of the ‘health benefits’ of plant-based diets, which are often lower in saturated fats and free from cholesterol.
Can’t ignore the cravings? Check out these 22 vegan cheese recipes that prove you don’t need dairy anymore…
Featured photo © Leon Neal / Staff Getty Images
