ResearchandMarkets

Honestly Tasty cheese board

Honestly Tasty, image courtesy of PBWE
Market & Trends

Vegan Cheese Market to Be Worth $4.8Bn by 2028 as Consumer Values “Reshape the Landscape”

A report by ResearchandMarkets has anticipated that the global vegan cheese market will grow with a CAGR of 12.2% to be worth $4.8 billion by 2028 — up from $2.4 billion in 2022. Growth will largely be driven by an increasing consumer preference for plant-based diets, as awareness of the health and environmental issues associated with dairy products increases. Continued innovation, leading to improved and more diverse product ranges, is also boosting market growth, along with the increased availability of vegan cheeses at mainstream retailers and online stores. By type, mozzarella alternatives have the largest market share due to their widespread use in dishes such as pizza and pasta. By ingredient, cashew-based products take the lead. Supermarkets and hypermarkets are the leading distribution channel for …

more

Cultivated meatballs

Image credit: Omeat

Market & Trends

Market for Cultivated Meat Ingredients to See “Transformative Shift” in the Coming Years

According to a report by ResearchandMarkets, the global market for cultivated meat ingredients will see significant expansion over the next five years as the emphasis on sustainable proteins continues to increase. The market is said to be undergoing a “transformative shift”, as the food tech industry expands and advancements are made in cell engineering. New techniques to efficiently isolate and proliferate animal cells, along with improved bioreactors, will ensure that cultivated meat production can be scaled effectively. In turn, this will boost the market for cultivated meat ingredients. Meanwhile, the use of cost-effective ingredients such as algae, microorganisms, and plant-based ingredients as nutrient sources for cultivated cells could provide opportunities for innovation, creating further potential for market expansion. Barriers to acceptance However, the market is …

more

NotCo launches NotMilk Barista

© NotCo
Market & Trends

Global Plant-Based Milk Market to Grow at 11.7% CAGR, Reaching Value of $47.55Bn

According to a report by ResearchandMarkets, the global plant-based milk market will be worth $47.55 billion by 2030, growing at a CAGR of 11.7%. The high prevalence of lactose intolerance and milk allergies will be a key market driver, along with increased health awareness. Environmental concerns and increased support from governments and investors will also benefit the industry. However, fluctuating raw material prices and consumer preferences for animal-based dairy products could restrain the market. Allergies to soy, nuts, and grains could also pose a challenge. By type, oat milk is expected to register the highest growth rate over the forecast period, as it is soy-free, low in fat, and can be made gluten-free. Its neutral taste and rising consumer awareness of the health benefits of …

more

Earth Bound vegan egg

© Earth Bound
Market & Trends

Report: Alt Dairy Leads the Plant-Based Food Market, But Alt Eggs Will See the Highest CAGR

A report by Research and Markets has predicted a significant CAGR of 17.6% for the global plant-based food market through to 2027. According to the report, dairy alternatives currently have the largest market share, which is unsurprising as they are purchased by many consumers who do not otherwise follow a plant-based diet. However, egg alternatives are expected to exhibit the highest CAGR, gaining popularity as they are cholesterol-free and suitable for those with egg allergies. The Asia Pacific region is said to have the largest share of the plant-based food market, driven by innovative technologies, collaborations between domestic and international food companies, and government R&D. Significant growth is also expected for the North American market, particularly the US; this will be propelled by environmental concerns …

more