Global Vegan Cheese Market Analysis

vegan cheese market
February 9, 2023 ( PR Submission Site )

The report, titled “Global Vegan Cheese Market Forecast and Analysis 2019-2028” examines the market according to cheese type, source, shape, form, end user, application, sales channel, and region.

An extensive report offers a thorough analysis of the market’s historical and projected size, along with a thorough market analysis. Market share analysis, the top food categories, the adoption and penetration rates and production capacities of the most prominent companies, a summary of competition, import-exports pricing by brands, crucial strategic imperatives, the most important consumers, growth potential areas, competitive analysis for the companies in the worldwide vegan cheese market research.

Marketing Overview and Dynamics

The global vegan cheese market stood at US$ 2.7 billion in 2021. The market is projected to grow at an annual CAGR in the range of 12.6% from 2022 through 2028.

  • The growing acceptance of veganism particularly among millennials has been increasing the demand for vegan products. The increasing awareness about cruelty to animals and the harmful effects on the environment resulting from dairy farming has led consumers to seek out vegan products.
  • The rise in cases of lactose intolerance, and other food-related allergies in adults and children have influenced the preferences of food consumers over the last few years. According to data released by Food Intolerance Network, in 2019 around 70% of people around the globe suffered from lactose intolerance.

The inclination toward veganism and vegetarian diet among millennials is expected to boost the industry growth in the Hotel/Restaurant/Cafe (HoReCa) sector globally.

The COVID-19 pandemic has offered some respite to the market as people around the world have taken an unprecedented interest in cooking at home. Hence, the demand for vegan food products has significantly increased during this period.

Segmental Analysis

  • Based on the cheese type, the mozzarella segment held the largest revenue share of over 30.0% in 2021 and is expected to maintain its lead over the forecast period.
    • Mozzarella is widely used in Italian dishes, such as pasta, pizzas, croquettes, and Caprese salad, and is available in the form of slices, cubes, shredded, and spreads. The demand for mozzarella is significantly high in countries where Italian cuisine is popular.
  • Based on the source type, the cashew segment held the largest revenue share of more than 35.0% in 2021 and is expected to maintain its dominant position throughout the forecast period. Cashew-based vegan cheese contains vitamins B2 & B12 and is low in fat.
    • This makes it favorable among health-conscious consumers all over the world. Furthermore, gluten-free and cholesterol-free cashew products are gaining traction owing to their health benefits.
  • Based on end-user type, the B2C segment led the global market in 2021 and accounted for a revenue share of more than 50.0%. Factors such as increased consumer disposable income levels and willingness to spend on premium products have led to a rise in the demand for plant-based products in the B2C segment. In addition, easy product availability in supermarkets and convenience stores has boosted the growth of this segment.

Competition Analysis

Over the last decade, the global vegan cheese market has grown rapidly. The global vegan cheese market is fragmented in nature with the presence of various players in the market.

These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global vegan cheese market.

  • In November 2022, plant-based cheese producer Treeline announces the launch of Treeline Reserve – a new line of artisanal, “ultra gourmet” non-dairy cheeses. To create Reserve, Treeline partnered with Spanish cheesemakers to “take vegan cheesemaking to new heights” and offer products that capture the true essence of fine blue and ripened rind cheeses.
  • In January 2022, Aldi U.K. launched vegan cheese sold under the chain’s Plant Menu brand. It is made from coconut oil and is free of gluten and soy.

Some of the leading players involved in the production and marketing of the global vegan cheese market include Treeline Cheese; Follow Your Heart; Daiya Foods Inc.; Kite Hill; Violife; Dr-Cow Tree Nut Cheese; Tofutti Brands, Inc.; Tyne Cheese Limited; Miyoko’s Creamery; and Parmela Creamery.

RationalStat has segmented the global vegan cheese market on the basis of cheese type, source, form, end user, application, sales channel, and region.

  • By Cheese Type
    • Mozzarella
    • Parmesan
    • Cheddar
    • Cream Cheese
    • Ricotta
    • Others (Gouda, Pepper Jack, etc.)
  • By Source
    • Almond Milk
    • Coconut Milk
    • Soy Milk
    • Cashew Milk
    • Others (Pine Nuts, Hazelnuts, etc.)
  • By Form
    • Blocks
    • Slices
    • Shredded
    • Others (Spreads, Cubes, etc.)
  • By End User
    • Personal, Household, and Residential
    • Commercial
      • Retail
      • HoReCa
      • Food Processing
    • By Application
      • Fast Food Snacks
      • Baked Goods
      • Processed and Packed Food
      • Dairy and Desert
      • Dips and Sauces
      • Dressing
    • By Sales Channel
      • Offline
        • Hypermarkets/supermarkets
        • Retail Stores
      • Online/E-commerce
    • By Region
      • North America
        • US
        • Canada
      • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
      • Western Europe
        • Germany
        • UK
        • France
        • Spain
        • Italy
        • Benelux
        • Nordic
        • Rest of Western Europe
      • Eastern Europe
        • Russia
        • Poland
        • Rest of Eastern Europe
      • Asia Pacific
        • China
        • Japan
        • India
        • South Korea
        • Australia
        • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
        • Rest of Asia Pacific
      • Middle East & Africa
        • GCC
        • South Africa
        • Turkey
        • Rest of the Middle East & Africa

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About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

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