Plant-based cheeses are making a big splash in retail and other channels, according to a new report.

U.S. sales of plant-based cheese rose 43 percent to $124 million in the year ending in June, according to Nielsen and Plant Based Foods Association data cited in story on

Globally, sales of vegan cheese are on track to increase 7.7 percent annually through 2023, according to the story.

Trends fueling the growth include a rise in veganism, a growing understanding of lactose intolerance and expanded use of non-dairy cheeses in snacks and baked goods.