Market Research Blog

The plant-based cheese market is predicted to be valued at US$ 3,068 million in 2024. The market for plant-based cheese is expected to grow at a compound annual growth rate (CAGR) of 12.2% between 2024 and 2034 to reach a value of US$ 9,658 million. This expansion is due to consumers seeking cruelty-free, environmentally friendly, and sustainably produced substitutes for conventional dairy products. It also reflects a trend toward a plant-based diet, as seen by the various product offers, exquisite flavor, and health-conscious consumer base.

It is projected that shifting consumption habits, increased interest in plant-based dairy products, a surplus of capital, and expanding acceptance of Western lifestyles drive the plant-based cheese industry. The food service industry has also made a substantial contribution to the growth of the vegan cheese industry by labeling its goods with vegan cheese and serving vegan cheese-based appetizers. People who are allergic to dairy products or lactose intolerant are increasingly choosing plant-based cheese.

Concerns about animal welfare, the growth in vegans, and the adoption of plant-based goods by those who are allergic to dairy all contribute to the global trend of replacing dairy products with plant-based alternatives.

Vegan cheese has a lower fat content than dairy cheese but offers equivalent vitamins, proteins, and carbohydrates. Eating vegan cuisine has been shown to improve health. The millennial is creating creative ways to use artisanal vegan cheese, which is becoming increasingly common in fast food, hotels, cafés, and restaurants to serve a huge crowd.

The rise in popularity of plant-based diets and veganism is causing rapid changes in the food business. With the increasing availability of vegan cheese, ‘clean’ labeling is becoming increasingly popular. It comprises plant-based starch and oil (derived from nuts), cheese replacements, and fermented cheese. The global plant-based cheese market is expected to grow significantly due to consumers’ increasing adoption of health-conscious dietary habits.

As people become more aware of the benefits of plant-based diets, there is a growing demand for cheese alternatives made from plant-based ingredients. This trend is likely to continue in the coming years, driven by factors such as rising awareness about the environmental impact of animal agriculture and concerns about animal welfare. As a result, the plant-based cheese market is poised for strong growth, offering new opportunities for manufacturers and suppliers in the food industry.

“Demand for plant-based cheese substitutes is rising due to growing benefits and awareness of plant-based diets. Concerns about animal welfare and the negative environmental effects of animal agriculture are fueling the trend of consuming vegan products. Consequently, the market for plant-based cheese is anticipated to rise rapidly, presenting novel prospects for food industry suppliers and manufacturers.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Plant-based Cheese Market 

• The soy milk-based cheese segment is set to capture a significant 38.2% share of the plant-based cheese industry in 2024.
• The B2C distribution channel is projected to dominate with an 83.8% market share in 2024.
• The United States plant-based cheese industry is expected to experience a CAGR of 8.2% through 2034.
• Germany plant-based cheese market is expected to demonstrate a remarkable CAGR of 10.2% through 2034.
• The United Kingdom plant-based cheese industry is anticipated to see a CAGR of 8.7% through 2034.
• India plant-based cheese industry showcases a healthy CAGR of 8.4% through 2034.
• China plant-based cheese market is expected to display an average CAGR of 3.3% through 2034.

Competitive Landscape

The market for plant-based cheese is extremely competitive, with businesses striving for supremacy through various tactics like pricing plans, advertising campaigns, research and development, and the creation of new products. The fragmented vegan cheese market heavily emphasizes competitive forces and strategic decision-making. Competitors substantially engage in research and development to provide cutting-edge, cruelty-free dairy products to keep ahead.

Organizations strive to enhance their market share and operational efficiency by forming strategic alliances, partnerships, and collaborations. Manufacturers of plant-based dairy products employ a range of marketing strategies, such as collaborations and the introduction of new products, to grow their clientele and get a competitive advantage. Companies may preserve their leadership positions in the industry and remain ahead of their peers by continuously inventing and creating novel ways to interact with their target consumer base.

Recent Developments in the Plant-based Cheese Market

• In January 2024, South Korean food technology company Armored Fresh developed a range of plant-based almond products that replicate the taste and texture of dairy cheese while providing essential nutrients and high protein content, potentially revolutionizing the food industry.
• In January 2024, The American company The Laughing Cow launched a new range of plant-based spreadable cheese products in response to the growing demand for dairy-free alternatives. These innovative spreads give consumers a guilt-free option for snacking and spreading their favorite foods.

Key Segments

By Source:

• Oat Milk
• Rice Milk
• Corn Milk
• Soy-Milk
• Pea Milk
• Almond Milk
• Coconut Milk
• Cashew Milk
• Flax Milk
• Hemp Milk
• Other

By Distribution Channel:

• B2B
  • Hotels
  • Restaurants
  • Cafes
• B2C
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Mom and Pop Stores
  • Discount Stores
  • Food & Drink Specialty Stores
  • Independent Small Groceries
  • Online Retail
  • Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

The vegan protein bars market is expected to reach US$ 757.5 million by 2023. According to Future Market Insights’ estimates, the market is likely to generate US$ 3.965.7 million between 2023 and 2033, representing a compound annual growth rate of 18%.

The popularity of vegetarian and plant-based diets has increased over the past decade. Several factors have influenced these dietary changes, including concerns for animal welfare, environmental sustainability, and personal health. A growing number of consumers are turning to plant-based options, which is driving the demand for vegan protein bars.

Consumers are increasingly seeking nutritious and functional foods, which has led to substantial growth in the health and wellness industry. For those looking to maintain an active lifestyle or support their fitness goals, vegan protein bars can provide a convenient and healthy snack option.

Sustainable food choices are becoming more popular among consumers, who are becoming aware of how their food choices impact the environment. Protein bars made from plant-based ingredients usually have a lower carbon footprint than those made from animal proteins. Customers who are environmentally conscious may be attracted to this eco-friendly aspect of the product.

Key Takeaways from the Market Study

• Based on the report, the vegan protein bars market exhibited a positive growth trajectory of 3.1% between 2018 and 2022.
• The growing awareness about the benefits of soy has been a catalyst for the growth of soy-based vegan protein bars in the market. It is estimated that the market will possess a market share of 34.70% during the forecast period.
• In the coming years, vegan protein bars are expected to capture 23.5% of the market share in the United States.
• Health and wellness have experienced a significant growth rate in recent years, with a market share expected to reach 25.10% by 2033.
• Over the period of 2023 to 2033, the Indian market is estimated to hold a market share of 17.4%.
• According to forecasts, German vegan protein bars will hold 14.5% of the market share.
• Conventional vegan protein bars is expected to hold 87.70% of the market share

Competitive Landscape

Globally, national and international companies primarily produce vegan protein bars. Manufacturers of food and beverages offer a wide selection of protein bars to satisfy consumers’ diverse tastes and appetites. The company offers vegan protein bars, organics, and natural food products to meet the needs of vegan food manufacturers. As well as producing vegan protein bars, producers run smaller operations and export many products.

• In May 2023, Beyond vegan shakes, Malaysian brand Metier Food tantalises with new dairy-free protein bars and tempeh chips. Heal Breakfast Protein Bars are among the new products offered by Metier Food’s flagship Heal Nutrition brand. Chocolate Crunch and Fruity Raspberry protein bars are dairy-free and lactose-free.
• In July 2023, MadeGood introduced Blueberry, Chocolate Chip, and Cinnamon Bun MadeGood Mornings Soft Baked Oat Bars, the company’s first breakfast product. They are all vegan and gluten-free, free of common allergens, and made from organic and non-GMO ingredients.

Know More about What the vegan protein bars Market Report Covers

Future Market Insights offers an unbiased analysis of the global vegan protein bars market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the vegan protein bars market, the market is segmented based on nature, flavor, ingredient, and distribution channel industry type across seven major regions.

Vegan Protein Bars Market Segmentation

By Nature:

• Organic
• Conventional

By Flavor:

• Chocolate-Vanilla
• Chocolate-Caramel
• Peanut Butter
• Cherry Cashew
• Fruit & Nut
• Hazelnuts
• Others

By Ingredient Type:

• Soy
• Pea
• Nuts
• Hemp
• Others

By Distribution Channel:

• Convenience Stores
• Hypermarkets/Supermarkets
• Traditional Grocery Stores
• Drug Stores & Pharmacies
• Health & Wellness Stores
• Online Retailing

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

In 2023, demand for vegan marshmallows are expected to have a net market share worth of $74.6 Mn, but by 2033, it is predicted to rise to over US$ 172.6 Mn. The growing vegan population around the world is driving demand for vegan marshmallows to grow by 9.8% between 2023 and 2033. Concerns about animal welfare will also contribute to a rise in demand for vegan marshmallows.

As a response to the growing demand for clean-label certifications across prominent regions, plant-based marshmallow manufacturers are introducing vegan marshmallows with unique flavour combinations. In the coming years, the global vegan marshmallow market is expected to grow due to the rising consumption of vegan food products.

The growth of the vegan marshmallow market worldwide is attributed to the fact that marshmallows are vegan and can serve as excellent substitutes for milk-based desserts. As environmental concerns over meat consumption gain prominence, consumers are increasingly turning to flexitarian diets.

Key Takeaways from the Vegan Marshmallows Market Study

• Global vegan marshmallows market to grow at a CAGR of 9.8%.8% between 2023 and 2033
• Peppermint and vanilla are the most popular flavors
• North America remains the dominant vegan marshmallows market.
• A market size of US$ 6 million is expected for vegan marshmallows in the United Kingdom in 2023, exceeding its market share by 11.4%.

Competitive Landscape for the Vegan Marshmallows Market

In response to the growing demand for clean-label certifications across prominent regions, leading vegan product manufacturers are flooding regional markets with innovative flavors, driving the global vegan marshmallows market.

Plant-based marshmallow manufacturers are introducing vegan marshmallows with creative flavour combinations in response to the increasing demand for clean-label certifications across prominent regions. Due to the rising consumption of vegan food products, the global vegan marshmallow market is expected to grow in the coming years.

Freedom Confectionery, Chicago Vegan Foods, Mr. Mallo Group, The Naked Marshmallow Co., Ananda Foods Ltd., and The Marshmallowist the market is growing and establishing a strong global presence.

Recent Developments in the Vegan Marshmallows Market

• In April 2020, Media Sauce Ltd.’s vegan marshmallow specialist Freedom Confectionery will launch the first-to-market concept, vegan marshmallow bars dipped in vegan chocolate.
• In February 2020, PEEPS, a brand name for “Just Born, Inc.” introduced flavored candies made with marshmallows in a collaboration with Kellogg’s, a U.S. company.
• In September 2020, Freedom Confectionery introduced the vegan marshmallow bar Mallow Out, which is coated in vegan chocolate. A twin-pack format featuring vanilla and strawberry mallows is also on the way. Pusheen the Cat has teamed up with the company to manufacture chocolate-coated gummies.
• Mallo Group was able to increase revenue and growth by expanding its product portfolio to include sugar-free, vegan, bio, Kosher, and Halal products through its acquisition of Belgian confectionery giant Mellow Party in 2017.
• In February 2016, a variety of sour marshmallow clouds were introduced by Bonds confectionery including strawberry, lemon, cherry cola, and more.
• The U.S. version of Stuffed Puffs LLC’s chocolate-stuffed marshmallow launched in April 2020.

Vegan Marshmallows Market Segmentation by Category

By Ingredient:

• Vanilla
• Pumpkin
• Peppermint
• Chocolate
• Others

By Distribution Channel:

• Hypermarkets/Supermarkets
• Convenience Store
• Drug Stores & Pharmacies
• Health & Wellness Stores
• Online Retailing
• Other Retailers

By Region:

• North America
• Latin America
• Europe
• The Middle East and Africa
• East Asia

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

As of 2022, the worldwide sales of lactose market was worth USD 2,312.5 million. The market is anticipated to expand at a CAGR of 6% from 2023 to 2033, reaching a total of approximately USD 4,169.8 million by 2033 due to the ongoing consumer movement towards lactose products.

This kind of sugar in lactose may benefit diabetics due to its low glycemic index. Lactose makes it easier for the gut flora to be balanced. It encourages the growth of the beneficial gut bacteria lactobacilli and bifidobacteria. Furthermore, it guards against potentially hazardous microorganisms that cause intestinal infections. Thus, these advantages are anticipated to increase the demand for lactose in the upcoming years.

The market’s growth is mostly a result of the rapidly rising demand for lactose in several industries all over the world. As of 2022, for instance, the demand from customers for lactose has increased significantly over the previous 10 years, and the industry as a whole has expanded along with it, particularly in North America as well as Europe. The anticipated total production, with a growing trend, is 510 000 tonnes. Another notable factor that is predicted to have a considerable impact on the lactose market’s growth over the course of the forecast time frame is the pharmaceutical industry’s quick expansion.

It provides the body with a consistent supply of energy because of its sluggish hydrolysis. Additionally, it encourages the formation of beneficial bacteria like bifidobacteria as well as lactobacilli, which helps to a healthy intestinal ecology and the digestion of minerals like magnesium, calcium, and zinc. Because of these improvements, revenues increased over the anticipated period.

Key Takeaways from the Market Study

• Global lactose market is expected to be valued at US$ 2,921 million by 2023
• From 2018 to 2022, the market demand expanded at a CAGR of 3.3%
• North America is expected to hold the highest market share, with the United States accounting for 32% of revenue
• By end-use type, the pharmaceuticals segment is expected to constitute a 46% market share in 2023.
• On the basis of derivative type, the lactulose segment is expected a 26% share in 2023.
• From 2023 to 2033, lactose market services are expected to flourish at a CAGR of 6%.

“Owing to the varied benefits of lactose and the demand for powder milk for infant powder is accelerating the demand in the global lactose market.” remarks an FMI analyst.

Competitive Landscape

The key players in this market include BASF SE, Davisco Foods International Inc., Armor Pharma, Hilmar Ingredients, Hoogwegt Group B.V., Kerry Group Plc., Lactose India Limited, Merck & Co. KgAa, Milei GmbH and Ba’emek Advanced Technologies Ltd. among others.

Recent Developments:

• The B2B powdered cheese company and its related assets are being purchased by Kerry Group plc from Kraft Heinz for US$ 107.5 million. Kerry anticipates growing its client base, manufacturing capacity, and scale in the snacking market as a consequence of this transaction.
• The first-ever electric milk truck in New Zealand, the Milk-E, has been welcomed by Fonterra Co-operative Group Limited. One of several initiatives helping the Co-op’s aspirations to become a sustainability leader via fleet decarbonization is Fonterra’s Milk-E program.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global lactose market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the lactose market, the market is segmented on the basis of lactose market by form (granule and powder), by end use (food and beverage, pharmaceutical and animal feed), by derivative type (lactose monohydrate, galactose, lactulose, lactitol, other), and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa). 

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube