The COVID-19 pandemic has been ‘positively influencing’ the growth of vegan cheese, according to new data.
A report by Research And Markets found the global plant-based cheese market is estimated to reach a staggering $4.4 million in the next seven years – registering a CAGR of 15.5 percent from 2021 to 2027.
Drivers for the growth include increased awareness of ‘lactose-intolerant conditions’ and ‘various benefits’ of plant-based dairy products such as reducing the severity of certain allergies and eczema.
“However, a lack of awareness regarding the benefits of vegan cheese and high prices are likely to hamper the growth of the vegan cheese market during the forecast period,” the report states.
“Despite the high prices, COVID-19 pandemic has been positively influencing the growth of the vegan cheese market. As people are highly conscious and wish to improve the health and immunity power by consuming highly nutritious food through plant-based cheese.”
Dairy giant Applewood recently announced a staggering 74 percent of people will be be ‘looking at’ buying plant-based alternatives to cheese this Christmas.
The company’s survey also found more than 60 percent of respondents said they consume ‘more cheese during their festive break than any other time of the year’.
In a statement sent to Plant Based News, Senior Brand Manager for Applewood Vegan Lisa Harrison said: The demand for our plant-based alternatives to our popular Applewood® and Mexicana® cheeses is an indication of how popular a vegan lifestyle is now as more and more people seek healthier options and adopting a flexitarian-style diet.
“Research shows that vegans and vegetarians look set to make up a quarter of the British population in 2025, and eating a vegan diet could be the ‘single biggest way’ to reduce our environmental impact on Earth.”