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Plant-based Cheese Market Size, Share Global Analysis Report, 2023 – 2030
Plant-based Cheese Market Size, Share, Growth Analysis Report By Nature (Online Retailers, Traditional Grocery Stores, Specialty Retail Stores, Convenience Stores, Supermarkets, Indirect Sales, And Direct Sales), By Sales Channel (Organic And Conventional), By End-User (Food Service, Food Industry, And Household), By Source (Cashew, Coconut, Soy, Almond, And Others), By Form (Slices, Blocks & Wedges, And Shreds), By Product Type (Ricotta, Cream Cheese, Cheddar, Parmesan, Mozzarella, And Others), And By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030
Industry Insights
[213+ Pages Report] According to Facts and Factors, the global plant-based cheese market was valued at USD 1904.71 million in 2022 and is predicted to surpass USD 3560.43 million by the end of 2030. The plant-based cheese industry is expected to grow by a CAGR of 8.13%.
Market Overview
Plant-based cheese is a non-dairy cheese alternative prepared from animal-based sources and does not include any animal by-products. The growing demand for dairy-free and plant-based food options has significantly made plant-based cheese a popular choice for people following vegan, flexitarian, or vegetarian diets. Moreover, people with lactose intolerance and other dietary restrictions are also adopting plant-based cheese.
Key Insights
- As per the analysis shared by our research analyst, the global plant-based cheese market size is estimated to grow annually at a CAGR of around 8.13% over the forecast period (2023-2030).
- In terms of revenue, the global plant-based cheese market size was valued at around USD 1904.71 million in 2022 and is projected to reach USD 3560.43 million by 2030.
- Growing demand for plant-based products is driving the growth of the global plant-based cheese market.
- Based on the sales channel, the indirect sales segment is growing at a high rate and is projected to dominate the global market.
- Based on the nature, the organic segment is projected to swipe the largest market share.
- Based on the end-user, the household segment is expected to swipe the largest share of the market.
- Based on the source, the cashew-based cheese segment accounts for the largest share of the global market.
- Based on the form, the cheese blocks segment accounts for the largest share of the global market.
- Based on the product type, the mozzarella segment accounts for the largest share of the global market.
- Based on region, North America is expected to dominate the global market during the forecast period.
Growth Drivers
- Growing demand for plant-based products is likely to drive the growth of the global market.
The growing awareness regarding the health benefits of plant-based diets has significantly pushed consumers to look for healthy alternatives to traditional dairy products like cheese. Moreover, the increasing cases of dietary restrictions like lactose intolerance and allergies to dairy protein are further encouraging people to adopt vegan food products like plant-based cheese.
For instance, Treeline Cheese’s new product line was launched in March 2020. The whole product range is based on plant-based cheese, which is well-cultured with cashews, nuts, and other vegan ingredients. The product is available in three flavors: onion, chive, plain, and strawberry.
Restraints
- Taste and texture are likely to hamper the growth of the global market.
It is difficult for manufacturers to achieve the same taste and texture as the traditional dairy cheese. Consumers find that plant-based cheese lacks the mouthfeel and overall experience of traditional dairy cheese, which is expected to hinder the growth of the global plant-based cheese market.
Opportunities
- Expansion of the distribution channel is expected to foster growth opportunities in the global market.
The increasing availability of plant-based cheese in retail stores like supermarkets, specialty stores, and grocery stores has significantly increased the accessibility of these vegan products to consumers, and therefore it is expected to foster growth opportunities in the plant-based cheese industry in the forthcoming years.
Furthermore, the rise in e-commerce shopping will also play a significant role in widening the global market scope. The convenient online purchase and delivery features of the e-commerce platform will further contribute to the market's high growth rate. For instance, Boursin was launched in October 2020 on Amazon Fresh. The product debuted as a free garlic and herb cheese spread.
Challenges
- Limited variety in local cuisines is a big challenge in the global market.
Many cultures have a strong consumption of traditional dairy cheese. These people resist plant-based alternatives because of their traditional perception & culture; therefore, it has emerged as a big challenge in the global plant-based cheese market.
Segmentation Analysis
The global plant-based cheese market can be segmented into sales channel, nature, end-user, source, form, product type, and region.
By sales channel, the market can be segmented into online retailers, traditional grocery stores, specialty retail stores, convenience stores, supermarkets, indirect sales, and direct sales. The indirect sales segment is likely to swipe the largest share of the plant-based cheese industry. Indirect sales involve retail distribution through grocery stores, supermarkets, and others. These outlets have a broad outreach to customers, and therefore, the segment leads the market.
Moreover, the wide availability of plant-based cheese products in stores offers consumers convenient access. Also, indirect sales, particularly retail distribution are highly preferred by consumers who like one-stop shopping for every household product.
By nature, the market can be segmented into organic and conventional. The organic segment is anticipated to dominate the global plant-based cheese market during the forecast period. There is an increasing inclination towards organic food products because of environmental, sustainability, and health concerns. Organic plant-based products are free from synthetic pesticides and chemicals, and therefore, they are in high demand among consumers looking for clean and additive-free food products.
By end user, the market can be segmented into food service, food industry, and household. The household segment is predicted to grow with a high CAGR during the anticipated period. The increasing awareness among individual customers regarding the healthy plant-based diet due to health consciousness and sustainability concerns has significantly raised the demand for vegan products like plant cheese for household consumption.
By source, the market can be segmented into cashew, coconut, soy, almond, and others. The cashew-based cheese is the fastest-growing segment in the plant-based cheese industry. The cashew-based cheese is preferred among consumers due to its exotic flavor and rich texture profile. The cashew cheese is versatile in nature. These have the ability to form a creamy, smooth consistency, making it appealing to the customers and satisfying their mouthfeel experience.
By form, the market can be segmented into slices, blocks & wedges, and shreds. The block segment is projected to witness significant growth during the forecast period. The cheese blocks can easily be grated, shredded, and sliced. These are versatile in nature, making them ideal for a variety of culinary applications. Also, these blocks can easily be incorporated into the baking and cooking recipes.
By product type, the market can be segmented into ricotta, cream cheese, cheddar, parmesan, mozzarella, and others. The mozzarella segment accounts for the largest share of the global market. Mozzarella cheese is versatile and ideal for different culinary applications like sandwiches, salads, pasta, pizza, and others. It is an ideal substitute for traditional mozzarella and its texture can be suitable in different dishes.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 1904.71 Million |
Projected Market Size in 2030 |
USD 3560.43 Million |
CAGR Growth Rate |
8.13% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Parmela Creamery, Miyoko's Creamery, Tyne Cheese Limited, Tofutti Brands Inc., Dr-Cow Tree Nut Cheese, Violife, Daiya Foods Inc., Follow Your Heart, Treeline Cheese, Good Planet Foods, Field Roast, Galaxy Nutritional Foods Inc., and Others. |
Key Segment |
By Nature, By Sales Channel, By End-User, By Source, By Form, By Product Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Analysis
- North America to dominate the global market.
North America accounts for the largest share of the global plant-based cheese market. There is a notable surge in consumer interest in plant-based alternatives like plant-based cheese, which is the primary reason for the domination of the regional market. This increasing interest can be attributed to factors like environmental sustainability, ethical considerations, and health consciousness.
Moreover, the easy availability of plant-based products in recent years has also contributed to the high growth rate of the regional market. With the easy accessibility of plant-based cheese in supermarkets, grocery stores, and specialty stores, regional sales are growing significantly. However, food companies are investing heavily in research and development activities to develop a unique plant-based cheese with improved taste and texture.
Asia Pacific is expected to witness a steady growth rate in the coming years because of the significant shift in the dietary patterns of the people in the region. Consumers are more inclined towards vegan and plant-based diets due to various reasons.
Furthermore, urbanization and increasing exposure to Western food trends are growing the demand for alternative and healthier food options like plant-based cheese. For instance, Upfield came up with Violife in July 2021 in the Middle East. The whole product range is allergen and dairy-free. These are available in slices and boxes. Also, the product comes in two flavors: mozzarella and cheddar.
Competitive Analysis
The key players in the global plant-based cheese market include:
- Parmela Creamery
- Miyoko's Creamery
- Tyne Cheese Limited
- Tofutti Brands Inc.
- Dr-Cow Tree Nut Cheese
- Violife
- Daiya Foods Inc.
- Follow Your Heart
- Treeline Cheese
- Good Planet Foods
- Field Roast
- Galaxy Nutritional Foods Inc.
For instance, Aldi U.K. came up with vegan cheese under the umbrella name chain Plant Menu in January 2022. The product is said to be made out of coconut oil and is gluten and soy-free.
The global plant-based cheese market is segmented as follows:
By Nature Segment Analysis
- Online Retailers
- Traditional Grocery Stores
- Specialty Retail Stores
- Convenience Stores
- Supermarkets
- Indirect Sales
- Direct Sales
By Sales Channel
- Organic
- Conventional
By End-User Segment Analysis
- Food Service
- Food Industry
- Household
By Source Segment Analysis
- Cashew
- Coconut
- Soy
- Almond
- Others
By Form Segment Analysis
- Slices
- Blocks & Wedges
- Shreds
By Product Type Segment Analysis
- Ricotta
- Cream Cheese
- Cheddar
- Parmesan
- Mozzarella
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Parmela Creamery
- Miyoko's Creamery
- Tyne Cheese Limited
- Tofutti Brands Inc.
- Dr-Cow Tree Nut Cheese
- Violife
- Daiya Foods Inc.
- Follow Your Heart
- Treeline Cheese
- Good Planet Foods
- Field Roast
- Galaxy Nutritional Foods Inc.
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