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Europe Vegan Cheese Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type, Form, Source, and Distribution Channel

Europe Vegan Cheese Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type, Form, Source, and Distribution Channel

  • December 2020
  • 85 pages
  • ID: 6004176
  • Format: PDF
  • The Insight Partners

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The Europe vegan cheese market is expected to grow from US$ 989.05 million in 2019 to US$ 1,711.82 million by 2027; it is estimated to grow at a CAGR of 7.2% from 2020 to 2027.
The Europe vegan cheese market is likely to account for a remarkable share of the global vegan cheese market during the forecast period.Various health benefits provided by vegan cheese are driving the Europe vegan cheese market.

There has been a rising demand for vegan cheese due to increasing awareness of health benefits related to vegan cheese.Vegan cheese is prepared using various sources, such as almond milk, coconut milk, cashew milk, and soy milk.

These sources have been well known for their high nutritional properties that have garnered the inclination of consumers worldwide.The vegan cheese is a rich source of various minerals—such as potassium and calcium—vitamins, and fibers.

This strong nutritional profile of vegan cheese has led to an upsurge in its demand. Vegan cheese is low-fat and gluten-free. Recent studies have shown that vegan cheese helps in reducing cardiovascular diseases .The high carbohydrate and fiber content of vegan cheese can provide abundant energy to the consumer. Additionally, vegan cheese contains probiotic bacteria that help in protecting the micro biota or intestinal flora. All these factors are contributing to the expansion and development of the Europe vegan cheese market.
In terms of product type, the mozzarella segment led the Europe vegan cheese market in 2019.Mozzarella is basically a traditionally southern Italian cheese prepared from Italian buffalo’s milk by the pasta filata method.

Fresh mozzarella is basically white but may vary seasonally to slightly yellow depending on the animal’s diet.However, due to some health issues facing by consumers, such as lactose intolerance, obesity, weight gaining, there is an increasing need for dairy-free alternatives for cheese lovers.

Hence, most of the cheese offering companies are focusing on vegan cheese.
Daiya foods Inc., Field roast, Follow Your Heart, and Nush Foods are among the key players operating in the market in this region.
At present, major countries in Europe are under lockdown due to the COVID-19 pandemic.In the high-impact countries in the region, isolation and social distancing measures have been put in place.

The lesser production of goods and commodities is hampering the growth of the Europe vegan cheese market as the demand for these solutions has declined over the past couple of months.In Europe, Italy, Russia, and Spain are among the hardest-hit countries by the COVID-19 outbreak.

The region is expected to suffer an economic hit due to the lack of revenue from various industries, as Italy recorded the highest number of COVID-19 cases.Other member states have implemented drastic measures and travel restrictions, including partially closing their borders.

This is anticipated to impact the market growth in Europe.
The overall Europe vegan cheese market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe vegan cheese market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants typically associated with this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe vegan cheese market.

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