Global Vegan Cheese Market TOC
Vegan Cheese Market size is predicted to reach USD 9.56 billion by the end of 2036, growing at a CAGR of 12.02% during the forecast period i.e., 2024-2036. In the year 2023, industry size of vegan cheese was over USD 2.23 billion. Food allergies are one of the most common causes of anaphylaxis, an allergic reaction that can be fatal. Additionally, lactose intolerance is defined by the National Institutes of Health as a decreased ability to digest lactose, a sugar found in milk and other dairy products. The market for plant-based dairy products, such as cheese, is being driven by the rising incidence of lactose intolerance and diary allergy. For instance, the U.S. Department of Health and Human Services estimates that 68% of people worldwide are lactose intolerant, and some people may have a milk allergy.
Increasing market capital and investments in the market are expected to provide potential growth opportunities for the global vegan cheese market in the coming years. In November 2023, Italian food tech company Dreamfarm, a startup focused on plant-based cheese alternatives, announced a total investment of USD 5 million. This investment was previously used to launch an innovative production facility in Sala Baganza with detailed equipment to improve rare and patented production processes.
Author Credits: Anil Kumar, Ipsheeta Dash
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