Pune, India, Jan. 08, 2021 (GLOBE NEWSWIRE) — The global cheese analogue market is set to gain momentum from the increasing adoption of vegan diet. Hence, manufacturers are focusing on developing cheese alternatives for the processed food industry. This information is given by Fortune Business Insights™ in a new report, titled, “Cheese Analogue Market Size, Share & COVID-19 Impact Analysis, By Type (Non-dairy Cheese Analogues, Dairy Cheese Analogues, and Partial Dairy Cheese Analogues), Application (Bakery and Confectionery, Breakfast Cereals, Animal Feed, and Others), and Regional Forecast, 2020 – 2027.” The report further states that the market size stood at USD 2,197.58 million in 2019 and is projected to reach USD 3,618.91 million by 2027, exhibiting a CAGR of 6.7% during the forecast period (2020-2027).
COVID-19 Pandemic: Permanent Closure of Restaurants and Cafes to Affect Growth
The COVID-19 pandemic has impacted the global food and beverage industry by disrupting the overall supply chain. Governments of various countries have also implemented stringent lockdown norms, thereby resulting in the permanent shutdown of many cafes, restaurants, and hotels worldwide. Additionally, lack of available workforce and shortages of raw materials would also affect growth. Our elaborate research reports will help you pave the way towards success by selecting the best strategy.
How Did We Develop This Report?
We have conducted thorough primary and secondary research to gather information about various aspects of the market. We have also conducted interviews with key stakeholders, such as marketing managers, sales managers, product managers, and C-level executives to derive insights, namely, application pattern, average pricing, raw material supply & demand, and growth rate. Besides, we relied on authentic paid databases, relevant associations, investor presentations, industry journals, and annual reports to deliver our clients in-depth details about value and supply chain analysis, revenues, restraints, opportunities, and trends.
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Drivers & Restraints-
Rising Demand for Novel Products with Altered Dietary Properties to Aid Growth
Imitation cheese is very cost-effective. Hence, many processed food manufacturers are aiming to use this product to lower the production cost of food items, …
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