World Non-Dairy Cheese Market to Reach USD 3.52 Bn by 2023, Projects MRFR in Its Topical Report Now Available at MarketPublishers.com11 Sep 2017 • by Natalie Aster
LONDON – Worldwide, the non-dairy cheese market has been witnessing ongoing demand growth over the recent past, and it is anticipated to be estimated at USD 3.52 billion by end-2023. Key growth drivers includes the surging demand for convenience foods, the fast-paced growth of the foodservice sector, expanding lactose intolerance, and the growing popularity of vegan diet.
By source, soya milk sourced non-dairy cheese is poised to keep on taking the lead in the non-dairy cheese market capturing over 52% market share.
Amongst the application, fast food and snacks are set to keep on dominating the market with a share of over 55%; the segment is likely to register a 7.51% CAGR through 2023 to reach around USD 1.763 billion by the end of the forecast period.
Based on product type, Cheddar is projected to take the lead in the non-dairy cheese market grabbing a dominant market share of 38.5% and registering a 7.56% CAGR.
Europe is poised to dominate the world non-dairy cheese market accounting for a share of over 30%, and is expected to amount to USD 1.52 billion posting a 7.9% CAGR through to 2023. APAC is set to register the fastest CAGR of 7.93% in the total market, while North America will likely see moderate growth rate.
Violife Foods, Daiya Foods, Tofutti Brands, Galaxy Nutritional Foods, Kite Hill Cheese, and Follow Your Heart, amid others, are the prominent players in the industry.
Comprehensive report “Global Non-Dairy Cheese Research Report- Forecast to 2023” drawn up by MRFR is devoted to an all-round assessment and forecast of the market globally.
The research offers a detailed analysis for individual macro and micro markets for non-dairy cheese; provides estimates of the market size by product type, source, application, distribution channel, and region-wise. It examines the supply and demand dynamics of the market. A region-level market analysis and future outlook is included. The report offers granular company profiling of leading players alongside the competitive positioning. The report offers a comprehensive examination of the value chain and supply chain of the market. The study gives an insightful overview of the historical market trends, and key technologies, as well as covers actual government regulations pertaining to the industry.
Follow this page at MarketPublishers.com to find other comprehensive reports elaborated by our research partner.