Vegan Cheese Market

Vegan Cheese Market

Vegan Cheese Market: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

  • XPLREP3126

  • November, 2018

  • 245 Pages

  • Food

Global Vegan Cheese to Progress at CAGR of 8.6% Through 2028

The global vegan cheese market - which was valued at US$ 2.1 Bn in 2019 - is forecasted to witness impressive growth in its valuation during the forecast period (2019 to 2028), according to a new market study by XploreMR. The growth of the market is majorly attributed to the growing trend of veganism globally, and proliferating adoption of vegan cheese in the food industry, and the increasing availability of a wide range of flavors. Furthermore, increasing health consciousness and awareness among consumers regarding the health benefits of vegan cheese will continue to complement the growth of the market alike.

Moreover, multiple players operating in the food and beverages (F&B) market have started producing vegan products to capitalize on the growing popularity of veganism around the world, thereby further boosting the market growth. On the back of these facets, the global vegan cheese market will progress at an impressive CAGR of 8.6% through the forecast period.

Growing Trend of Veganism Transmute into Sales of Vegan Cheese

In the recent past, veganism has swiftly gained prominence across the world on the back of growing concerns pertaining to animal welfare and increased awareness regarding the health benefits of vegan food products. Furthermore, factors such as increased concerns about the adverse effects of consuming dairy products, and the rising incidence of lactose intolerance are also asserting consumers to seek vegan products, thus propelling the demand for vegan cheese. Besides, recent research studies have suspected that using antibiotics and hormones in cattle feed to enhance cattle production contaminates the dairy products.

Besides, rising awareness regarding environmental pollution caused by dairy farming practices is asserting consumers to seek alternative, environmentally friendly products. Vegan cheese considered a rich source of protein and is cholesterol-free, thereby making it ideal for obese and lactose intolerant populations. The aforementioned factors will continue to fuel the demand for vegan cheese products in the forthcoming years.

Wide-scale Adoption in Food Industry Ensures Healthy Growth

Increasing consumer inclination towards vegan cheese has encouraged layers in the F&B landscape to incorporate the dairy-free ingredients in the production of a different variety of food products. For instance, fast-food giants such as McDonald's and Domino's have included vegan burgers, pizzas, and fast food products to their menus, to cater to the vegan customers.

Moreover, vegan cheese is gaining traction in the bakery and confectionery industry as an essential ingredient in vegan food products, owing to taste and flavor. On these lines, vegan cheese manufacturers are producing a wide variety of flavors, such as caramel, blueberry, and cranberry, to name a few. The availability of vegan cheese in different flavors is propelling demand among consumers who are actively seeking plant-based alternatives to replace the most popular cheese types, including cheddar, parmesan, ricotta, cream cheese, and other variants.

North America Exhibits Dominance While Western Europe Promises Growth Opportunities

On the regional front, North America is foreseen to remain at the forefront of the global market, on the back of high prevalence of lactose intolerance and health consciousness among consumers. In 2019, the region accounted for 31.6% of global value, and will remain the leading regional market through the forecast period.

Besides, Western Europe is forecasted to exhibit growth in production, as a result of growing demand. On the other hand, Asia Pacific is exhibiting tremendous growth potential owing to increasing awareness among consumers regarding health benefits.

Competitive Landscape of Vegan Cheese Market

Some of the major market players operating in the vegan cheese market include Kite Hill, Daiya Foods Inc., Go Veggie, Mad Millie, UPrise Foods, Nush, Tesco Free From, Follow Your Heart, Field Roast Grain Meat Co., Punk Rawk Labs, Miyoko’s Kitchen, Inc., Wayfare inc., Good Planet Foods, Regal Vegan, Vermont Farmstead, Tofutti, Bute Island Foods Ltd., Galaxy Nutritional Foods, Inc., Kinda Co., So Delicious Dairy Free, SEROTONINA, and Reine Vegan Cuisine.

Report Description for Vegan Cheese Market

This report provides a forecast and analysis of the global vegan cheese market. It provides estimated data of 2018, and forecast data up to 2028 in terms of revenue (US$ Mn) and volume (metric tons). The report also includes key macroeconomic indicators influencing the consumption of various food and beverage products, along with an outlook on vegan cheese for the global market. It includes market growth drivers and challenges for the global vegan cheese market, and their impact on each region during the forecast period. The report also comprises the study of current issues with consumers, and opportunities for vegan cheese-based food products. It also includes value chain analysis.

Vegan cheese is an entirely plant-based cheese, and it embroils consolidating the protein mass from numerous plant sources with lactic bacteria. Vegan cheese is made from soy milk, plant milk extracted from nuts like cashews, almonds, and pine nuts, and coconut oil. The method of preparing vegan cheese includes obtaining a non-dairy or plant-based milk. It further includes coagulating the plant-based milk using one plant-origin rennet to form curd. Afterwards, the curd is seasoned to produce vegan cheese. Vegan cheese is suitable for use in vegan pizzas, pasta, and more. Some of the major types of vegan cheese that are available commercially are mozzarella, cheddar, parmesan, ricotta, and cream cheese. Vegan cheese makers are innovating new products to bolster their grip in this competitive market. The accessibility of new vegan cheese products makes it an exciting time for the vegan population. Vegan cheese is most commonly used in food areas such as restaurants, bakeries, and grocery stores. The current vegan cheese market continues to grow and advance on a global scale. The primary reasons behind the developments are growing health concerns, animal welfare concerns, and the popularity of veganism. Growing veganism is the primary driver for the growth of the market. Organizations such as PETA are spreading the word for veganism, which is enhancing consumer inclination towards vegan cheese products.

In order to provide the users of this report with a comprehensive view of the vegan cheese market, we have included a detailed competitiveness analysis and key players and their strategy overview. A dashboard view of the entire landscape provides a detailed comparison of vegan cheese manufacturers on metrics such as total revenue, product offerings, and key differentiators. The study encompasses vegan cheese market attractiveness analysis by product type, form, source, end use, distribution channel, and region. The report also covers detailed drivers, restraints, trends, and opportunities in the vegan cheese market.

The report includes company profiles of the vegan cheese market, and the revenue generated from companies across North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and the Middle East & Africa. By end use, the global vegan cheese market is segmented into bakery products, sweet and savory snacks, dips and sauces, dressings, ready-to-eat meals, and others. Furthermore, on the basis of form, the global vegan cheese market is segmented into shreds, blocks and wedges, and slices. On the basis of product type, the global vegan cheese market is segmented into mozzarella, parmesan, cheddar, cream cheese, and ricotta. On the basis of source, the vegan cheese market is segmented into plant milk, grain milk, and others. For the calculation of market size, the consumption of packaged and processed food products where vegan cheese is inherently used was taken into consideration, in addition to the proportion of utilization of vegan cheese among plant-based foods. The average utilization of vegan cheese across different bakery products, sweets and savories, dips and sauces, and other end-use applications were analyzed. This was cross-validated with the market share of key players offering vegan cheese products. Prices of the product have been collected for bulk purchase to arrive at the market size for vegan cheese.

The report provides detailed competitive and company profiles of key participants operating in the global vegan cheese market. Some of the major companies operating in the global vegan cheese 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, among others

Global Vegan Cheese Market – By Product Type

  • Mozzarella

  • Parmesan

  • Cheddar

  • Cream Cheese

  • Ricotta

  • Others

 Global Vegan Cheese Market – By Form

  • Shreds

  • Blocks and Wedges

  • Slices

Global Vegan Cheese Market – By Source

  • Almond Milk

  • Soy Milk

  • Coconut Milk

  • Cashew Milk

  • Others

 Global Vegan Cheese Market – By End Use

  • Food Processing

    • Baked Goods

    • Sauces, Dips and Dressings

    • Snacks

    • Processed and Packed Foods

    • Ready Meals

    • Dairy and Desserts

  • Food Service/HoReCa (Hotels, Restaurant, Cafes)

  • Household/Retail

Global Vegan Cheese Market – By Nature

  • Organic

  • Conventional

Global Vegan Cheese Market – By Distribution Channel

  • Direct Sales

  • Indirect Sales

    • Hypermarkets/Supermarkets

    • Convenience Stores

    • Specialty Retail Stores

    • Traditional Grocery Stores

    • Online Retailers

Global Vegan Cheese Market – By Region

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific excluding Japan

  • Japan

  • The Middle East & Africa

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Vegan Cheese Market: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)
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