Vegan Cheese Market

The global vegan cheese market registers notable revenue expansion and is anticipated to maintain its status quo throughout the period of assessment.

Market Analysis in Brief

The vegan cheese market is witnessing robust growth primarily due to increased awareness of milk allergies such as lactose intolerance. The market is further propelled by the increasing consumption of plant-based products amid rising concerns for animal welfare and environmental sustainability. Apart from vegan consumers, individuals who are seeking low-fat and cholesterol-free options are also consuming vegan cheese. In this business context, key industry participants are adopting innovative technologies that enable the production of plant-based cheese that mimics the taste and texture of traditional dairy cheese. Recognizing this fruitful landscape, manufacturers and retailers in the food industry are also incorporating vegan cheese into their offerings. Such a scenario is likely to sow seed for sustainable growth across the global vegan cheese industry.

Key Report Findings

• Hitting the US$2 Bn mark in revenue registered in 2020, the global vegan cheese market is poised for nearly 4x expansion by 2030-end
• The mozzarella cheese segment is anticipated to hold prominence in the global vegan cheese industry
• Health conscious consumers are demonstrating greater inclination toward vegan cheese, enabling significant market expansion
• An uptrend in veganism has motivated manufacturers to produce dairy-free substitutes
• Europe slates dominance in the global vegan cheese market
• Treeline Cheese, Tofutti Brands, Inc., Miyoko's Creamery, Daiya Foods Inc., and Kite Hill are the top five

Growth Drivers

Rising Awareness About Health Benefits

In today's health-conscious world, individuals are increasingly seeking out food and beverage options that offer potential health benefits to prevent chronic diseases. As a result, the consumption of vegan cheese is on the rise. Individuals dealing with obesity and cholesterol problems, in particular, are consuming this cheese for its high vegan protein and calcium content. Derived from plant-based sources like nuts, seeds, and soybeans, vegan cheese is also rich in essential nutrients such as fibre, and vitamins. Against this backdrop, the global vegan cheese market is set to reach sound maturity in the near future.

Expanding Shelf Space at Retail Stores 

In the vegan cheese market, vendors use both online and offline retail distribution channels. In the years to come, the expansion of organized retail locations is projected to drive the growth of the vegan cheese industry. Recent years have witnessed a large number of supermarkets, hypermarkets, convenience stores and specialized shops being launched that uplift the vegan food sales. Moreover, vendors rely heavily on big, organized merchants for efficient product promotion and distribution. Furthermore, large retail corporations are launching additional stores to expand their global presence. Therefore, the growing expansion of offline retail locations is expected to propel the growth of this industry.

Overview of Key Segments

Food Processing Industry Remains a Major Application Segment

Based on application, the global vegan cheese market is segmented into food processing, household, and food service. Among these applications, the food processing segment is projected to be the dominant contributor in the coming years. The growing trend of veganism has encouraged food and beverage manufacturers to incorporate dairy-free alternatives in their products, leading to the widespread use of vegan cheese in different food products such as baked and fast-food products.

Furthermore, an ascending number of grocery and retail stores are now providing different varieties of vegan cheese. With the availability of different flavours of cheese including caramel, blueberry, and cranberry, consumers are getting to experience novel tastes.

Mozzarella Cheese Tops with Low-fat Content

On the basis of product type, the global vegan cheese market is broadly expanded over mozzarella, cheddar, pepper jack, parmesan, and gouda, among others. Over the forecast period, the mozzarella segment is anticipated to hold a lion’s share of the market. This is majorly attributed to the extensive use of mozzarella in several Italian dishes, such as Caprese salad, pasta, pizzas, and croquettes.

Besides, mozzarella cheese has a lower fat content compared to other types of cheese, making it a healthier option for those looking to reduce their calorie intake. Additionally, the rising popularity of pizza worldwide is significantly contributing to the expansion of this market segment.

Growth Opportunities Across Regions

Europe to Reign Supreme, Asia Pacific to Witness Fastest Growth

The European market is set to take the global stage over the projection period. Local consumers are increasingly adopting eco-friendly and vegan products. This is due to growing awareness regarding animal cruelty and the rising carbon footprint due to the consumption of food products obtained from animals such as milk, honey, eggs, meat, pork, and seafood. Additionally, the strong presence of market players in the region is further influencing the regional market growth. Meanwhile, Asia Pacific’s vegan cheese market is expected to witness the highest growth. The rising consumption of plant-based bakery and confectionery products is expected to boost the sales of vegan cheese in the region.

Leading Participants in Vegan Cheese Market

Some of the prominent players steepening the growth trajectory for the global vegan cheese market include Treeline Cheese, Tofutti Brands, Inc., Miyoko's Creamery, Daiya Foods Inc., Kite Hill, Follow Your Heart, Violife, Tyne Chease Limited, Dr-Cow Tree Nut Cheese, Parmela Creamery, Vtopian Artisan Cheese Company, Vermont Farmstead Company, Good Planet Foods, Galaxy Nutritional Foods, Inc, and Field Roast Grain Meat Company.

Competitive Analysis

Key manufacturing firms are continuously launching new products to meet the rising demand for vegan products. Moreover, while vegan cheese is gradually becoming mainstream, modern-day consumers are still wary of the quality and nutritional content of the products. Therefore, key market players are heavily investing in technologies to replicate the properties of conventional cheese. As vendors in the vegan cheese market continue to improve the texture and mouthfeel of vegan cheese to match the qualities of its dairy counterpart, the market will continue to grow at a paced rate.

Regional Classification of the Global Vegan Cheese Market is Described Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability

Key Elements Included In The Study: Global Vegan Cheese Market

• Vegan Cheese Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value and Volume, 2018 - 2022
• Volume Consumption at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Production Output Analysis (Major Producing Regions)
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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