The global cheese market size is projected to reach USD 155.49 billion by 2027, exhibiting a CAGR of 3.7% during the forecast period. The emergence of vegan cheese products will play an instrumental role in the development of this market, observes Fortune Business Insights™ in its report, titled “Cheese Market Size, Share & COVID-19 Impact Analysis, By Source (Animal-based and Plant-based), Product Type (Cheddar, Mozzarella, Parmesan, Feta, and Others), Type (Processed, Natural, Block, Spreadable, and Hard and Soft Cheese), Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027”. With consumer food preferences steadily shifting towards vegan food products, several vegan cheese brands are gaining traction in this industry. For example, New York-based Treeline Cheese makes 100% dairy-free probiotic cheese varieties. Another such company is Dr. Cow, a vegan cheese company based in New York, that makes raw, organic, and non-GMO cheeses from Indonesian cashew nuts, Brazilian, or Macadamia nuts. Similarly, California-based Miyoko’s Kitchen makes handcrafted vegan cheese items that are gluten-free and consist of organic ingredients such as coconut oil and nuts. Thus, the growing availability of natural cheese varieties is expected to broaden market horizons in the coming years.
Potential Benefits of Cheese for Diabetics to Create New Opportunities
Cheese offers many health advantages to people with diabetes as it contains not only fats but also proteins and calcium. Proteins, for instance, are critical in balancing the blood glucose spikes that diabetics often experience after eating fatty foods. Most cheeses have a healthy amount of proteins and almost no carbohydrates. For example, 1 ounce of parmesan cheese contains 10 grams of proteins, while cheddar consists of 7 grams.
Moreover, academic research has shown that a balanced intake of cheese daily can lower the risk of developing type2 diabetes. For example, a study published in the American Journal of Clinical Nutrition in 2012 revealed that eating two cheese slices per day can reduce the risk of diabetes by 12%. A more recent study conducted by the University of Alberta in Canada in 2019 found that eating regular or low-fat cheeses can aid in regulating blood sugar levels and improve insulin sensitivity. Thus, as awareness about the benefits of cheese for diabetics spreads, its consumption is likely to remain high for the foreseeable future.
North America to Showcase Excellent Growth Trajectory; Europe to Dominate Market Share
The North American cheese market is expected to expand and grow at a considerable CAGR during the forecast period owing to the surging demand for clean-label and sustainable dairy products. Consumer inclination towards safer, natural, and healthier food products over the past few years has impelled companies in the region to develop natural food products, which is feeding the regional market growth. In 2019, the region’s market size stood at USD 29.08 billion.
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