Vegan Cheese Market to Reach $X Billion by 2030—Are You Ready to Compete?
The global vegan cheese market was valued at USD 2.43 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2022 to 2030. This growth is largely driven by the increasing acceptance of veganism, particularly among millennials, who are leading the charge in shifting dietary preferences. The rising awareness regarding animal cruelty and the environmental impact of the dairy industry has motivated many consumers to switch to plant-based alternatives. The COVID-19 pandemic has further fueled market growth by sparking an unprecedented interest in home cooking, with many consumers turning to vegan food products as a healthier and more ethical choice. For example, in the U.S., the plant-based food trade grew significantly, reaching USD 7.0 billion in 2020, up from USD 5.0 billion in 2019. This growing trend of plant-b...