The increasing preference for vegan diets, mainly due to rising concerns over animals and the environment, is boosting the vegan (plant-based) cheese market. Even world-class athletes and renowned celebrities, along with companies such as Google, are moving towards the consumption of vegan products.
Additionally, the increase in lactose intolerance within thepopulation is contributing to the adoption of non-dairy products, which includes vegan cheese.
In Australia, vegan cheese production has grown by around 70% in the past two years. The number of producers is rapidly increasing, and people can even easily find dairy-free cheeses (Vegan cheese) at an online store.
According to research company Euromonitor International, Australia is the third fastest-growing vegan market in the world. Sales of vegan food are predicted to reach $215 million by 2020.
The factors that are most likely to contributeto the growth of the vegan cheese market are:
- Increase in Vegan diet
- Increase in number of people with a lactose intolerance
- Rise of a more health-conscious population
- Growth in demand for clean label products
- Demand for Non-GMO food products
The increasing demand for vegan food has opened new markets both globally and in Australia. No doubt about it, vegan food is an opportunity for Australian food manufacturers to innovate and take their brands in a new direction.
Although the food manufacturers are responding with innovative and often surprising products, it’s not enough. We need to think bigger as demand continues to exceed the supply of vegan food. That means taking time to understand the trend, as well as the opportunities and challenges it presents for businesses.
Win Over The Vegan Market
Many vegans have a strong social conscience. They want to know more details about the brands they’re buying from,and in regards to products, they will seek information about what is in their food, where it came from, nutritional qualities, and its impact on the environment.
You can use this curiosity to increase your brand awareness. In your product labels,show your brand story and provide the information they’re looking for; that’s how you gain trust from customers.
The next thing is to treat the vegan product as you would with any other product. Focus on the new and delicious flavors and marketing of the product.The more you invest your time into and improve your product, the better result you will get. Research also shows that people are willing to pay more for a product that’s made from all-natural ingredients.
The last thing is to keep an eye on vegan trends. People are increasingly looking for satisfaction without the guilt, and vegan food can offer this. For example, you can now find dairy-free cheeses, butter, ice cream, and many more.
Even celebrities are supporting the movement, Beyoncé advocates for veganism, and Richard Branson and Bill Gates are supporting the development of plant-based alternatives to meat. Leonardo DiCaprio is also a proud vegan who investshis money into vegan food companies including vegan meat brand Beyond Meat and chickpea-based snack brand Hippeas.