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North America Vegan Cheese Market Forecast 2021-2028

KEY FINDINGS

The North America vegan cheese market is projected to develop with a CAGR of 15.15% over the forecasting years of 2021 to 2028. The regional market's growth is accredited to lactose intolerance, the increased preference for vegan food, the augmenting retail industry, and the growing awareness about a healthy lifestyle.

MARKET INSIGHTS

The North America vegan cheese market growth evaluation entails the assessment of Canada and the United States. Vegan cheese is a plant-based alternative to dairy-based cheese. Made of ingredients like coconut milk, almonds, and cashew, among others, it is used in a similar way as dairy cheese. Parmesan, mozzarella, ricotta, cheddar, and other products available and made of vegan ingredients are used in vegan dietary preparations such as vegan pizza and vegan burgers.

Although meat is conventionally considered a crucial part of Canada's diet, the country's citizens are becoming increasingly conscious regarding nutritional options as well as meat consumption. In 2020, approximately 40% of consumers in a Canadian survey asserted that they were willing to minimize their meat consumption, while around 9% fully intended to do the same. Furthermore, Canada harbors nearly 2.3 million vegetarians as well as 850,000 vegans, with the majority located in British Columbia. As a result, these factors are anticipated to propel the North America vegan cheese market growth during the forecasted period.

COMPETITIVE INSIGHTS

Some of the key companies operating in the market are Daiya Foods Inc, Miyoko's Creamery, Kite Hill, etc.

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North America Vegan Cheese Market Forecast 2021-2028
Published By :Inkwood Research
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