The latest data shows that plant-based dairy products are ready to disrupt the industry even more in the coming years.
Experts at Dublin-based Research and Markets believe that vegan cheese sales will grow at a strong 8.9% annually, reaching a total global market size worth $4.57 billion within the next four years. That’s up significantly from the $2.74 billion global sales in 2019 and indicates that there will be new opportunities for grocers in the dairy-free alternative industry.
The Research and Markets report listed the rising cases of lactose intolerance, ethical concerns about animal welfare and the environmental footprint of dairy as three keys driving the trend toward plant-based cheese alternatives. However, the report also mentions another reason for the sales boost. “Due to the COVID-19 pandemic, consumers are demanding more plant-based products at a rapid pace, and that vegan cheese could be on an upward trend in various parts of the world,” the analysts explained.
The increasing number of celebrities and influencers advocating for the consumption of vegan products is also helping fuel demand, according to TMR. Almond-based cheeses are the most popular form of protein source holding 37% market share. As for product type, vegan mozzarella takes the largest market share at 34%.
“Sensing the growing interest in vegan cheese, an array of vegan cheese brands has entered the global market due to which, the competition in the vegan cheese market is high,” the company said in their report. “As the demand for vegan cheese grows at an exponential rate, plant-based cheese brands are currently expanding their production capacity to meet the demand.”
As demand for dairy-free cheese heats up, keep displays organized and reduce the risk of false out-of-stocks with the SpaceGrid® II on Magna-Bar™ from Retail Space Solutions. The all-new mounting hardware transforms existing Magna-Bar™ peg displays into efficient pusher systems that feature SpaceGrid II trays.
SpaceGrid II on Magna-Bar combines the performance and value of two trusted merchandising systems to maximize display space while ensuring attractive, organized displays from store open to close – making purchasing even easier for shoppers.
As consumers adjust to many new flavors and choices of dairy-free cheese, organization and visibility are critical. The clear lens on the SpaceGrid II on Magna-Bar keeps product labels in clear sight, leading to quicker buying decisions and ultimately higher profits.
The innovative design behind SpaceGrid II on Magna-Bar, with trays that easily pull out for efficient backfilling, helps get more products on your shelves quicker so that customers can find what they are looking for. SpaceGrid II on Magna-Bar is also tailored to prolong freshness through its airflow channels that keep cool air moving through the display to ensure appropriate refrigeration
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