Vegan Cheese Market Sees Spike in Sales, According to New Research

The vegan cheese market has seen a spike in sales, according to new consumer research from The Nielsen Company. The report found that there was a boom in sales in several areas, predominantly for products that were alternatives to dairy.

Vegan cheese, yoghurt and ice cream sectors reported a 45, 31 and 25 per cent increase, respectively during the 52 week period that ended in April 2018. In this report, Nielsen found that 48 per cent of African Americans, 47 per cent of Asian Americans, 47 per cent of Caucasian millennials and 46 per cent of Hispanic consumers are more likely to purchase vegan items than other American consumers.

The report found that consumers are more interested in purchasing dairy alternatives and other products similar, rather than solely focusing on fresh fruit and vegetables. Nielsen commented that companies would find it beneficial to tap into the market.

The report stated there is a “notable opportunity for brands and retailers looking for ways to capitalize on specific needs and desires among consumers options for plant based food and beverage options, particularly where no or few options currently exist.”

Innovative products, such as the Beyond Burger are more appealing to consumers, as opposed to the traditional staples of tofu and rice. The report also found that plant based food products accounted for 20 per cent of the money spent on food and beverage last year.

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