Italy Vegan Cheese Market Forecast 2021-2026
The Italy vegan cheese market is expected to register a CAGR of 15.33% during the forecast period, 2021-2026. Consumers are following the vegan health trends given the shifting lifestyles and health concerns. Also, the young consumers following vegan trends offer huge market penetration opportunities for vegan cheese producers.
In Italy, the total population of people aged 65 and above was 23.2% in 2020. Also, the country had the largest percentage of the elderly population in Europe in 2019. With age, the lactose levels start declining, leading to nausea, stomach ache, gas, diarrhea, etc. In addition, there is a high prevalence of lactose malabsorption in the geriatric population. At the same time, most of the Italian population is shifting to alternate dietary lifestyles for animal welfare and health reasons. As a result, there have been developments like the launch of a new R&D accelerator by Nestlé in September 2020 to propel innovations of sustainable dairy products and plant-based dairy alternatives.
Vegan cheese production entails the use of plant-based ingredients instead of traditional animal-based products. It has a high nutritional profile and is rich in vitamins, calcium, and proteins. One of the primary aspects of vegan cheese, i.e., low cholesterol levels, drives its market demands. This is because this aspect aids in preventing cardiovascular diseases.
Some of the major firms in the market include Follow Your Heart, WayFare, Bute Island Food Ltd (Acquired by Saputo Inc), Galaxy Nutritional Foods Inc, Field Roast, etc.
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