PLANT-BASED CHEESE MARKET ANALYSIS
Companies operating in plant-based cheese market are focusing on mergers and acquisitions in order to enhance their market share. For instance, in 2017, Otsuka Pharmaceutical Co., Ltd. (healthcare company) acquired Daiya Foods Inc., a Canada-based manufacturer of plant-based foods such as cheese and others. The acquisition helped Otsuka to expand its product portfolio by adding a new category of plant-based foods. It also helped Daiya Foods to expand its market presence throughout North America and globally.
Companies operating in plant-based cheese market are focusing on new product launches in order to enhance their market share. For instance, in September 2019, Applewood (a dairy-based cheese manufacturer) launched Applewood Vegan cheese, a new vegan cheese to meet increasing demand for plant-based food products. The product was launched in collaboration with VBites, a plant-based cheese manufacturer.
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