News

Non-Dairy Cheese Industry Worth $3.5 Billion by 2023

New report projects that interest in vegan alternatives will continue to create a profitable non-dairy cheese industry worldwide.

A new report compiled by Market Research Future (MRF) predicted that the global non-dairy cheese industry would reach $3.5 billion by 2023. MRF names soy milk-based non-dairy cheese as leading the charge, holding a 54.3 percent market share by the end of 2017. MRF names Europe as the leader in the non-dairy cheese sector, where the firm estimates the market to grow at a compound annual growth rate of 7.9 percent, led by Germany (which will be responsible for 25.78 percent market proportion of the industry). “The non-dairy cheese market has been increasing due to globalization and changing consumption pattern,” the report states, “increasing awareness about lactose intolerance, and rising number of vegan consumers.” MRF joins other market research firms that have predicted a bright financial future for plant-based foods, which have estimated the worth of the egg replacement industry at $1.5 billion by 2026, the meat-alternatives market at $5.2 billion by 2020, and the dairy alternatives sector at $35 billion by 2024.

Photo courtesy of Kite Hill 

More News

New Line of Vegan Pea Protein Milk Hits Shelves

North America's largest producer of baby carrots adds a new line of calcium-rich vegan milk.
Read More »

Vegan Cannabis Popsicles to Launch in Winter

CBD oil-infused, coconut milk-based pops in three flavors will be available nationwide in December.
Read More »

UK Grocery Chain Expands Vegan Cheese Line

Sainsbury's adds a new vegan blue cheese to its existing line after the supermarket chain experienced overwhelming demand for dairy-free cheeses.
Read More »

Vegan Sushi Bar to Hit the Las Vegas Strip

Plant-based fine-dining restaurant Okra will become the first of its kind on the famed strip.
Read More »

Pro Skater Launches Vegan Converse Line

Kenny Anderson becomes the vegan voice within the Converse brand after the launch of new animal-free skating shoes.
Read More »

This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

More Videos »