Japan Plant-based Cheese Market: Segmented: By Source (Rice Milk, Almond Milk, Soy Milk, Coconut Milk, and Others); By Distribution Channel (Offline, and Online); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
Japan Plant-based Cheese Market to surpass USD 623.2 million by 2030, which is valued at 447.54 million in 2019 at a compound annual growth rate of 3.10%
Plant-based cheese contains non-animal derivatives ingredients. This cheese comes from fruits, vegetables, legumes, cereals, nuts, and seeds. In comparison, plant-based cheese is made with lactose or milk-free milk, and casein is dependent on plants. This is produced from soy milk, almond milk, coconut milk, rice milk, etc. Cheese from plants provides more choices for customers seeking alternate ways to eat dairy products. Cheese based on plants is a phenomenon that replaces dairy cheese with the texture and taste of animal protein. Plant-based cheese is cholesterol-free and can prove to be an excellent source of protein.
According to the report, with a significant proportion of the population transitioning to being vegetarian, healthy eating habits are important factors driving the cheese market. Moreover, the increasing customer inclination towards low fat, low sugar, and free lactose foods paves the way for plant-based products, such as plant-based cheese, raising plant-based demand for the food. The patterns of 'vegan' have been caused by lactose sensitivity and milk allergies. Some regulatory bodies highly recommend the consumption of plant-based food products.
The Japan Plant-based Cheese Market is segmented by distribution channel into Offline, and online This growth is attributed to the fact that people prefer to buy products from the specialty store and due to the direct connection between the retailer and the customer create more revenue opportunities. Specialty stores provided detailed and complete knowledge about the product which gains consumer’s point of attraction. Moreover, rising retail store penetration and an increasing number of daily retail stores provide a boost to this segment's growth. However, the online segment is also anticipated to register a significant growth owing to convenience in buying and facilities like free home delivery, easy payment, and a shifting trend towards online shopping. Moreover, rising internet penetration and the emergence of many shopping sites such as Amazon, eBay, etc. have led to segment growth.
Japan Plant-based Cheese Market is segmented by source into rice milk, almond milk, soy milk, coconut milk, and others. In 2019, the Almond cheese category was the largest proportion. Almond cheese is tended to be consumed by patients with health conditions such as diabetes, heart disease, overweight, and cholesterol. Almond milk is a common alternative for milk based on dairy products. Because the almonds don't contain cholesterol or lactose, it is highly common among people with lactose intolerance, lactose allergies, and other health problems. With the growing understanding of health among millennials, the market for quality nutritional products like almond cheese is raising worldwide.
The growing prevalence of veganism has introduced food processing divisions into the product portfolio to incorporate dairy-free alternatives. Plant cheese is commonly used in bakeries and fast-food shops. Fast Food network chains have already started to provide plant-based fast food such as plant-based cheeseburgers and pizzas, positioned to focus on the growing demand for plant-based cheese. Moreover, a growing number of grocery and specialty stores are beginning to sell various forms of plant-based cheese. The production of plant-based cheese in various varieties offers customers massive possibilities for new tastes
Rising health awareness
Consumers around the world often switch away from animal protein sources to protein sources from plants because of the movement towards healthy labels and rising awareness among individuals towards a healthy lifestyle which has led to a substantial increase in the importance of nutritional enrichment in food. Furthermore, a shifting consumption trend and globalization are driving growth in the general market for vegan cheese dependent on plants; a rising number of vegan consumers are fueling the market growth. The patterns of 'vegan' have been caused by lactose sensitivity and milk allergies. Some regulatory bodies highly recommend the consumption of plant-based food products.
Availability of substitutes and lack of technology
Comparatively high product costs and availability of substitutes cause a major restraint to the market growth. Moreover, the availability of synthetic counterfeit products that are comparatively cheaper hinders market growth. The lack of proper technologies to extract milk from plant-based products restricts many investment plans thus restraining the overall growth of the market.
The regional growth is attributed due to increased demand between the health-conscious consumers of organic and natural plant-based food and drink products. The global demand for plant-based cheese is estimated to grow investment in the production of dairy-free alternatives space. Also, a growing trend of consumption, globalization, and consciousness especially among millennials, intolerance towards lactose, and a rising number of vegan consumers are boosting the overall regional growth of the plant-based cheese industry. Significant economic growth, expansion of the middle-class Japanese population, and increased development are the key factors behind the increasing demand in the developing area of the plant-based cheese industry. The region segment can be further divided into five major types including Eastern Japan, Northern Japan, Western Japan, and Southern Japan.
The focus of the markets is on growing their share by means of mergers and acquisitions. In order to broaden their market range by creating cost effectively-efficient products with improved properties, industry leaders concentrate on research and development activities. Therefore, manufacturers plan to increase their production capacity in order to meet the growing demand for goods. The growing demand for plant-based food offers start-Ups and known reputations the chance to develop innovative products to bridge the market's existing white spaces. The minimum pricing of cheese products on plants is assured. The safe characteristics are the perfect way to grab the attention of millennials who are more willing to turn to goods based on plants.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Japan Plant-based Cheese Market size was estimated at USD 1.5 billion in 2020 and is expected to reach USD 2 billion by 2030
MOCHICREAM ISITVEGAN Marinfood Fuji Oil Vegeproject TOPVALU Terra Foods Sagamiya Foods Bute Island Foods Other prominent players
The offline segment and The Almond milk segment is anticipated to hold the Japan Plant-based Cheese Market
Drivers Consumer’s Interest
Plant-based cheese contains non-animal derivatives ingredients. This cheese comes from fruits, vegetables, legumes, cereals, nuts, and seeds. In comparison, plant-based cheese is made with lactose or milk-free milk, and casein is dependent on plants.
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