Market Segmentation
The rapidly shifting dietary preferences and increasing prevalence of healthier lifestyles among millennials are expected to drive market growth. Over the past few years, people across the globe are witnessing several food allergies and lactose intolerance due to dairy-based ingredients including cheese, cheese cream, and even cottage cheese. Being lactose intolerant can lead to numerous kinds of allergies such as gastrointestinal allergies, anaphylaxis, acute urticaria or angioedema, atopic dermatitis, milk protein-induced enteropathy, and protein-induced gastroenteritis and proctocolitis. Moreover, lactose intolerance is a common health issue brought on by the consumption of milk in some people. This impaired ability to digest lactose upon the consumption of milk products can lead to abdominal pain, bloating, flatulence, nausea, and diarrhea. According to Food Allergy Research & Education, 2.5% of children under three years are allergic to milk. It is among one of the most common food allergies in infants and young children, and nearly all infants who develop an allergy to milk do so in their first year of life.
The rising mindfulness regarding animal rights and a subsequent protectionist approach has been forcing a huge part of the population to follow enhanced conditions for animals. According to the Humane Society of the United States (HSUS), 9 million cows in the U.S. dairy industry are subjected to short calving intervals, repeated reimpregnation, restrictive housing systems, overproduction of milk, poor nutrition, and numerous physical disorders. These factors impede the welfare of animals in industrial dairy sector. These market trends are predicted to boost the demand for vegan cheese across the global market over the forecast period. The dairy industry is also known to have an adverse impact on the environment, compelling more and more consumers to switch to non-dairy alternatives. According to the World Wildlife Fund, millions of farmers worldwide tend roughly 270 million dairy cows to produce milk. Dairy cows and their manure produce greenhouse gas emissions, which contribute to climate change. Incorrect managing of manure and fertilizers can worsen local water resources and unsustainable dairy farming and feed production can result in the loss of environmentally important areas, such as prairies, wetlands, and forests.
Non-vegan or normal cheeses are comparatively cheaper to the vegan assortment, which acts as a major restraint to the growth of the global market. Veganism has constantly been gaining traction as a lifestyle from the past decade and the living cost for vegans has also surged during this tenure. For example, as per a December 2016 report issued by The Metro, one of UK.’s most renowned print newspapers, people have to spend an additional USD 2,400 or more to adhere to a vegan lifestyle. This is an enormous financial liability on people, specifically those from middle-income groups. This consequence is expected to curb the adoption of vegan cheese. Also, animal meat products are heavily subsidized, which allows manufacturers to sell them for less; vegan manufacturers do not get the same benefits. In addition, the production costs of meat products are kept low through generous government subsidies that ensure that the animal agriculture industry remains viable and can provide affordable products to consumers. Smaller companies that produce plant-based meat products cannot compete with the price tags that the animal agriculture industry is able to put on their products, which increases the general price of the product, which can act as a major restraint for the market to grow.
This section will provide insights into the contents included in this vegan cheese market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance