DUBLIN--(BUSINESS WIRE)--The "U.S. Non-Dairy Cream Cheese Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
U.S. Non-dairy Cream Cheese Market size is estimated to be $45.6 million in 2019 and is projected to be growing at CAGR of 24.47% during the forecast period 2020-2025.
U.S. Non-dairy Cream Cheese are made from various plant source such as soy, almond, cashew and other. The rise in consumers that prefer vegan and non-dairy products has led to the increased demand for non-dairy products. Non-dairy cream cheese are also available in various flavors to cater to the varying preferences among consumers. Recent studies have shown that non-dairy products help on reducing diabetes and maintain cardiac health. These health benefits have also further driven the demand for non-dairy cream cheese.
- In 2019, the Combination Flavors accounts for major revenue share in the U.S. Non-dairy Cream Cheese Market owing to wider application and as it meets the varying consumer preferences.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will also be provided in the U.S. Non-dairy Cream Cheese Market report.
- Rising health consciousness has increased the demand for vegan and non-dairy products. This in turn is set to drive the demand for non-dairy cream cheese as well.
By Source - Segment Analysis
Based on source, U.S. Non-dairy Cream Cheese is dominated by soy segment. Rise in health problems such as diabetes, cardiovascular disease and more have led to increased consumption of soy based cream cheeses. They have also reported to reduce cancer and offer multiple health benefits. Almond segment is projected to be the fastest growing with a CAGR of 26.63% during the forecast period 2020-2025. This is owing to the increase in consumption of this type by the people having lactose intolerance.
By Flavor - Segment Analysis
By Flavor, Combination flavors segment is dominating the U.S. Non-dairy Cream Cheese market in 2019 and is estimated to grow at a CAGR of 25.24% during the forecast period 2020-2025. This is owing to the increasing consumption of flavored cream cheese products. The demand for flavored products are more than of plain or other types of cream cheese. A range of combination flavors are offered by companies that meet the varying preference of consumers. The cheddar style flavor is set to be the fastest growing with a CAGR of 25.95% during the forecast period 2020-2025. This is owing to its application in various foods such as burgers, pizzas and more as a replacement to traditional cheese.
By Sales Channel - Segment Analysis
By sale channel, Offline channel accounts for major share of the U.S. Non-dairy Cream Cheese market share in 2019. Offline channels include supermarkets/hypermarkets, Food speciality stores, convenience stores, bakery stores and others. Retail stores have more sales of vegan or plant based cream cheese in the U.S. The increasing health concerns about the use of dairy products have led many consumers to switch to non-dairy alternatives. This drives the demand of non-dairy products in this region.
However, the Online sales channel is projected to be the fastest-growing during the forecast period 2020-2025 with a CAGR of 26.18%. This is owing to the increase in penetration of online channels such as e-commerce or online stores. Growth in internet connectivity and the convenience offered by this sales channel are contributing to this growth.
Drivers - U.S. Non-dairy Cream Cheese Market
- Increasing number of vegans
There has been an increase in the consumption of vegan products by the population in recent years. The growing consumption of vegan products are increasing demand for plant-based alternatives such as coconut, almond, soy etc. driving the growth of U.S. Non-Dairy Cream Cheese Market. According to Vegan Foods Association, 2-6% of the population in U.S are vegan. People have started avoiding animal products to prevent animal cruelty and also to improve their health by choosing healthier food options.
- Increasing Incidence of Lactose Intolerance among Consumer
Rising incidence of lactose intolerance among consumer and changing food habits are some factors that are driving the growth of the market. According to the Agency for Healthcare Research and Quality, about 25% of U.S. population are suffering from lactose intolerance. This has led to increase in demand for non-dairy products.
Challenges - U.S. Non-dairy Cream Cheese Market
The high cost of non-dairy products compared to dairy products is a major factor challenging the growth of the market. This is owing to the high cost of the plant sources as well as the costs involved in the production process of these products. Another challenge is the risk of cross contamination of the raw materials as elimination of the dairy from all products is challenging.
U.S. Non-dairy Cream Cheese Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the U.S. Non-dairy Cream Cheese Market. Beverage Can top 10 companies are Daiya Foods Inc., Galaxy Nutritional Foods Inc., Lyrical Foods, Inc., Tofutti Brands, Inc., Follow Your Heart, Miyoko's Creamery, Trader Joe's, Violife, Bute Island Foods Ltd, and Tesco plc.
- March 2020: Treeline Treenut Cheese's launched Cashew Cream Cheese in plain, chive, onion, and strawberry varieties which is made with eight ingredients or fewer, and the product draw on traditional dairy cheesemaking methods by fermenting cashews with the probiotic acidophilus.
- October 2019: Upfield acquires Violife for ?500m to form one of the largest plant-based manufacturers in the World.
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