Cheese Analogue Market to Reach $3,618.91 Million by 2027; Rising Consumption of High-value Food Items to Accelerate Growth

The global cheese analogue market size is projected to reach USD 3,618.91 million by 2027. The increasing demand for plant-based and high-value food items worldwide is set to affect growth positively. Fortune Business Insights™ published this information in a new study, titled, “Cheese Analogue Market Size, Share & COVID-19 Impact Analysis, By Type (Non-dairy Cheese Analogues, Dairy Cheese Analogues, and Partial Dairy Cheese Analogues), Application (Bakery and Confectionery, Breakfast Cereals, Animal Feed, and Others), and Regional Forecast, 2020 – 2027.” The study further mentions that the global market stood at USD 2,197.58 million in 2019. But, it is set to exhibit a CAGR of 6.7% during the forecast period between 2020 to 2027.

Willicroft Launches Three Varieties of Dairy-free Cheeses in the U.K.

In October 2020, Willicroft, a manufacturer of plant-based cheese for dairy cheese lovers based in the Netherlands, announced its plan to introduce its best-selling dairy-free cheeses in the U.K. They will be available in multiple stores, such as TheVeganKind Supermarket and Waitrose soon. The company will launch three varieties of cheeses and is aiming to help people choose the right dairy alternative.

As per one of the company officials, “Residents of the U.K. will now be able to gain access to our grated cheese, cream cheese, fondue, and Italian style cheese. We believe in focusing on our environmental footprint and the taste in equal measure to develop something special.”

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cheese-analogue-market-103216

Increasing Demand for Ready-to-eat Food Items to Bolster Growth

The increasing prevalence of celiac disease and lactose intolerance across the globe is set to make people shift rapidly towards cheese substitutes. The Physicians Committee for Responsible Medicine stated that 15% of Caucasians, 74% of Native Americans, and 95% of Asian Americans suffer from lactose intolerance. Hence, the dairy-free segment is experiencing high popularity globally. Apart from that, the increasing demand for ready-to-eat food items and fast food is making imitation cheese the most preferred choice for restaurants. This way, they can cut off the cost of natural cheese.

However, cheese analogues lack nutrition, unlike natural cheese. They are also rubbery and plasticky. These factors may obstruct the cheese analogue market growth in the coming years.

Key Players Aim to Gain a Competitive Edge by Introducing Plant-based Substitutes

The global market houses numerous prominent companies that are majorly focusing on launching innovative and flavorful products in the market. However, these products are completely dairy-free and plant-based. Hence, they are suitable for the vegan population. Some of the other companies are aiming to broaden their geographic presence by opening new stores in various countries of the world.

Fortune Business Insights™ lists out the names of all the reputed manufacturers operating in this global market. They are:

• Follow Your Heart (California, United States)
• Groupe Lactalis (Laval, France)
• Daiya Foods Inc. (Vancouver, Canada)
• Miyoko's Kitchen, Inc. (California. United States)
• Lyrical Foods, Inc. (United States)
• Whitehall Specialties Inc. (Whitehall, United States)
• Bute Island Foods Inc. (U.K.)
• Blendhub Corporation Group (Spain)
• Ingredion Inc. (Illinois, United States)
• Ornua Ingredients (United States)

A Notable Industry Development-

• May 2019: Good Planet Foods, a provider of plant-based cheese headquartered in the U.S., launched its new Cheddar Flavor Shredded Cheese. It is made from plant starches and refined coconut oil. It is also free from allergens, namely, wheat, eggs, soy, nuts, and dairy. Some of the other flavors include Parmesan, Smoked Mozzarella, and Mozzarella. The company is also planning to broaden its foodservice distribution by including its plant-based sliced and shredded cheeses.

Further Report Findings-

• In 2019, Europe generated USD 971.21 million in terms of revenue. This growth is attributable to the increasing demand for nutritious ready-to-eat and convenience meals in the region.  
• North America will retain its second-largest position in the market backed by the increasing usage of imitation cheese in spaghetti, salads, cheese dips, sandwiches, and cheese dips.
• Based on type, the non-dairy segment earned 59.67% in terms of the global market share in 2019. The increasing demand from various end-use industries would propel growth. Also, France procured a share of 57.66% in 2019.

The global market can be segmented in the following way: