Vegan Cheese Market Surpasses US$ 2,148.7 Mn in 2019
The global vegan cheese market size was valued at of US$ 2,148.7 Mn in 2019. It is projected to rise at a CAGR of 8.6% between 2019 and 2028. Among categories based on product, the market is expected to be dominated by mozzarella vegan cheese. The demand for this category of vegan cheese is expected to rise through the course of the forecast period, because of versatility of its use in different recipes. North America has emerged as the key region of output. Besides this, markets across Western Europe is expected to show significant increase in production.
What are some of the leading vegan cheese brands?
Some of the leading brands in the vegan cheese market are:
- Daiya Foods, Inc.,
- Galaxy Nutritional Foods, Inc.,
- Violife, Miyoko’s Kitchen, and
Which is the most popular variety of vegan cheese?
Mozzarella vegan cheese is currently in high demand. This type of cheese possesses melty and stretchy qualities very similar to conventional mozzarella. It is therefore used in the preparation of vegan cheese pizza and pasta. Its demand is rising especially among consumers who love to eat healthy but without compromising on taste.
What is vegan cheese made of?
Vegan cheese is entirely plant-based. It is often considered a rich source of soy protein. It is made from coconut oil, soy milk, and plant milk derived from nuts such as almonds, pine nuts, and cashews.
What drives vegan cheese market?
The rising demand for plant-based alternative drives the vegan cheese market. It is expected to rise at over 8% CAGR between 2018 and 2028. Rising disposable income of consumers, coupled with their willingness to spend on healthier alternatives of their favourite foods will aid the vegan cheese market growth.
Are there any negative effects of vegan cheese?
While vegan cheese is considered exceptionally healthy, especially for lactose intolerant people, solely relying on its consumption may have adverse health impacts. For instance, replacing milk products entirely with vegan cheese can cause anaemia in pregnant women and growth deficiency in children. Nonetheless, companies are likely to introduce more efficient and healthier options in the future to mitigate aforementioned concerns.
Vegan Cheese Brands to Promote their Availability in Diverse Flavours
Most people are apprehensive about going vegan since they find it difficult eliminating cheese from their favourite foods. While consumers may find it difficult to abstain from burgers, pizzas, and other popular food preparation where cheese is a key ingredient, opting for healthier alternative can bring about a positive change. Leading vegan cheese brands are therefore amplifying their promotional strategies to spread the word about their product. This will help manufacturers can gain significant traction.
This can woo consumers, spoiling them with options in plant-based alternatives to replace most popular cheese types, including cheddar, parmesan, ricotta, cream cheese and others adorning shelves across retail chains. As a result of their efforts, vegan cheese pizza, sauce, and ingredients are now extensively and commercially available. Stoked by the ongoing vegan cheese market growth, manufactures will witness impressive sales opportunities. In addition to this, a wholesome plant-based diet could prove cheaper than omnivorous diet. This is acting as a chief growth driver increasing demand across various product categories such as mozzarella, cheddar, parmesan, ricotta, cream cheese, and others.
North America Surges Ahead as Leading Region in Global Market
Among key regional markets, North America is anticipated to record the highest demand for vegan cheese. The region boasts advanced production capabilities supported by the presence of mature markets. It accounted for the dominant share of 31.6% in the global vegan cheese market in 2019. While North America is projected to remain the leading region, Western Europe will follow it closely, registering the second-leading share in the market. In addition to this, experts foresee impressive rise in demand from emerging markets across Asia Pacific since it is home to a majority of global population. Besides this, preference for dairy alternatives is positively rising among consumers in Asia Pacific, supporting the overall market growth.
Rising Awareness about Health Benefits of Vegan Cheese will Boost Sales
Vegan cheese is entirely plant-based and is considered a rich source of soy protein. Because it is cholesterol free, vegan cheese is increasingly used in bakery products, vegan snacks, and fast food products such as pizza, burgers, and others. A key point to note here is that, vegan cheese is made from coconut oil, soy milk, and plant milk extracted from nuts such as almonds, pine nuts, and cashews. Rising health consciousness among consumers is likely to stoke sales of vegan cheese in the coming years.
Mozzarella vegan cheese is lead the market
Ricotta vegan cheese to exhibit higher growth
Blocks and wedges to hold leading market share
Shreds expected to growth at higher rate
Almond milk segment leads the market
Cashew milk segment to exhibit higher rate of growth
Household/ Retail segment to hold dominant share
Food processing segment to exhibit robust CAGR
How Growth will Unfold
Veganism is becoming a mainstream, which is a key factor encouraging growth in the market. With an increasing number of people across Europe and other developed regions going vegan, the demand for vegan cheese is expected to increase considerably in the forthcoming years. Even in developing nations, the demand for vegan food products has incredibly increased. This is expected to bolster growth opportunities for the market. Growth will be further supported by the increasing demand for food products derived from natural sources. As consumers incline increasingly towards non-dairy sources of protein, the demand from vegan cheese derived from sources such as almond milk, soy milk, cashew milk, coconut milk, and others will rise.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Vegan Cheese Market – Global Industry Analysis and Forecast 2018 - 2028
The report on the global vegan cheese market is intended to offer global industry assessment for 2012-2018 and 2019-2028. In this study, Future Market Insights (FMI) identifies chief factors impacting the demand and supply of vegan cheese. It includes a detailed review of growth drivers, challenges, opportunities, and prevailing trends in the market. It therefore presents crucial information intended to help readers get a comprehensive overview of the vegan cheese market.
Vegan Cheese Market Taxonomy
The report segments the global vegan cheese market in detail to present an executive-level blueprint to the reader
- Cream Cheese
- Blocks and Wedges
- Almond Milk
- Soy Milk
- Coconut Milk
- Cashew Milk
- Food Processing
- Baked Goods
- Sauces, Dips and Dressings
- Processed and Packed Foods
- Ready Meals
- Dairy and Desserts
- Food Service/HoReCa (Hotels, Restaurant, Cafes)
- Direct Sales
- Indirect Sales
- Convenience Stores
- Specialty Retail Stores
- Traditional Grocery Stores
- Online Retailers
The executive summary of the report covers country analysis proprietary wheel of fortune, demand-side and supply-side trends, and opportunity assessment proprietary wheel of fortune, demand-side and supply-side trends, and opportunity assessment. Also, it offers recommendations to help companies establish a massive foothold in the global vegan cheese market.
Readers can find a detailed segmentation of the overall vegan cheese market share in this chapter. This section also highlights inclusions and exclusions to help readers understand the scope of the report.
Readers can find valuable information on the key segments within the market, besides relevant definitions in this chapter. Associated industry assessment is also carried out to study the vegan cheese market trends, prevailing dynamics, trade analysis, and supply and value chain. Consumers’ perception about vegan cheese is explained in consumer survey analysis and social media sentiment analysis included in this chapter.
This chapter studies the growth trajectory exhibited by the vegan cheese market across various segments. It segments the market in terms of various criteria. In terms of product type, the market can be segmented into mozzarella, parmesan, cheddar, cream cheese, ricotta, and others. On the basis of form, it can be classified into shreds, blocks and wedges, and slices. Based on source, the overall vegan cheese market share can be categorized into almond milk, coconut milk, cashew milk, soy milk, and others. In addition to these, food processing, food service/ HoReCa, and household/ retail are the key end-use segments studied in the report. Furthermore, the report bifurcates the market into organic and conventional in terms of nature. On the basis of sales channel, the market covers direct sales, indirect sales, and online retailers. Regional, the global market encompasses North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ, and the MEA.
This chapter includes a detailed analysis of the growth exhibited by the market in North America. It also offers country-wise assessment of the market that covers growth exhibited in the U.S. and Canada. Readers can also find information on prevalent trends and regulations in the North America market for vegan cheese.
Readers can find detailed information on prevailing trends that are impacting the growth of the Latin America vegan cheese market. Besides this, the chapter includes results of pricing analysis. It also examines the growth prospects of the vegan cheese market in LATAM countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.
The chapter discusses various factors driving the market across Germany, France, U.K., Spain, Italy, NORDIC, BENELUX, Rest of Western Europe.
The chapter discusses various factors driving the market across CIS, Rest of Eastern Europe.
This chapter includes a detailed analysis of the growth of the market in Asia Pacific, along with a country-wise assessment that covers China, India, Indonesia, Philippines, Australia & New Zealand, and the Rest of Asia Pacific. Readers can also find regional trends and regulations, affecting growth in countries across Asia Pacific.
This chapter provides information about how the market is anticipated to grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period 2019 - 2028.
In this chapter, readers can find a detailed tier analysis and information on concentration of key players in the vegan cheese market along with their presence analysis by region and product portfolio. Readers can also find a comprehensive list of all leading stakeholders in the market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the leading companies operating in the market are Daiya Foods, Inc., Follow Your Heart, Go Veggie, Parmela Creamery, Kinda Co., Bute Island Foods Ltd., Vtopian Artisan Cheeses, Kite Hill, Miyoko’s Kitchen, Vermont Farmstead, and Good Planet Foods.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the vegan cheese market report.
This chapter is intended to help readers understand the research methodology followed to reach conclusions and derive important qualitative and quantitative information, about the vegan cheese market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits