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Vegan Cheese Market Size, Share Global Analysis Report, 2024 – 2032
Vegan Cheese Market Size, Share, Growth Analysis Report By End-Users (Retail & Household, Food Processing, Food Serving, And Others), By Sources (Cashew, Rice, Almond Coconut, And Others), By Distribution Channels (Retail Stores, Specialty Stores, Convenience Stores, Hypermarkets, Online, And Others), By Product Types (Cream Cheese, Cheddar, Ricotta, Mozzarella, Parmesan, And Others), And By Region - Global Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2024 – 2032
Industry Insights
[212+ Pages Report] According to Facts & Factors, the global vegan cheese market size was valued at USD 2.49 billion in 2023 and is predicted to surpass USD 6.91 billion by the end of 2032. The vegan cheese industry is expected to grow by a CAGR of 12.00% between 2024 and 2032.
Market Overview
Vegan cheese is referred to as a dairy-free cheese alternative prepared with plant-based ingredients. It is prepared exceptionally well by offering the same experiences for people indulging in traditional vegan cheese tastes. Vegan cheese is prepared from different plant-based ingredients like coconut oil, starters, thickeners, vegetables, and many others.
Also, there are different kinds of vegan cheese available in the market, like hard & semi-hard cheese, soft cheese, shreds & slides, cheese spreads & dips, and many others. Vegan cheese can be used in various applications like pizza, sandwiches, salads, dips, and many others.
Key Insights
- As per the analysis shared by our research analyst, the global vegan cheese market size is estimated to grow annually at a CAGR of around 12.00% over the forecast period (2024-2032).
- In terms of revenue, the global vegan cheese market size was valued at around USD 2.49 billion in 2023 and is projected to reach USD 6.91 billion by 2032.
- Growth in veganism and flexitarianism is driving the growth of the global vegan cheese market.
- Based on end-users, the household segment is growing at a high rate and is projected to dominate the global market.
- Based on sources, the cashew segment is anticipated to grow with the highest CAGR in the global market.
- Based on distribution channels, the hypermarket segment is projected to swipe the largest market share.
- Based on product types, the mozzarella segment is expected to dominate the global market.
- Based on region, North America is expected to dominate the global market during the forecast period
Growth Drivers
- Growth in veganism and flexitarianism is driving the growth of the global market.
An increasing number of people are adopting vegetarian, vegan, and flexitarian diets, which is a major factor driving the growth of the global vegan cheese market. People are trying to reduce their dairy and meat intake on a daily basis because of ethical and environmental reasons.
Also, the growing health consciousness among people is further making them swipe their traditional animal-based food choices with healthy plant-based options. A plant-based diet has many health benefits, like lower saturated fat content, low cholesterol, and many others, which help people improve their overall well-being.
Additionally, the growing awareness among people regarding the environmental impact of animal agriculture, like high water usage, greenhouse emissions, and deforestation, is further pushing people to explore more sustainable and healthy alternatives like vegan cheese.
For instance, Aldi U.K. came up with an all-new vegan cheese product line in 2022. These products are said to be prepared from coconut oil and are soy and gluten-free.
Restraints
- Taste and texture are likely to hinder the growth of the global market.
There still exists a large number of people who find issues with the taste and texture of vegan cheese even after numerous innovations and product launches. They find it hard to replace their traditional dairy-based cheese because of authentic flavors and textures. Therefore, such a landscape is expected to hinder the growth of the vegan cheese industry in the coming years.
Opportunities
- Increasing focus on clean labels and natural ingredient products is expected to foster growth opportunities in the global market.
People are more inclined towards clean-label products for a variety of reasons, which is a major reason likely to revolutionize the global vegan cheese market. Vegan products like cheese are marketed as GMO-free, organic, and clean-label products, which appeal to health-conscious consumers.
Moreover, governments in many regions are also supporting plant-based food products because of sustainability issues, which further positively impact the growth of the market. Globalization of vegan trends is also expected to accentuate the growth of the industry in the coming years. Product diversification is appealing to different culinary tastes and preferences, which is also likely to widen this scope of the industry.
Social media and influencer marketing are also contributing immensely to the growth of the vegan lifestyle globally. Health experts, influencers, and chefs are widely promoting vegan products like cheese because of health and environmental benefits. For instance, Youkuai Group International successfully collaborated with Usource in 2023. The major goal of this action is to increase the market reach across China.
Challenges
- Limited nutritional profile is a big challenge in the global market.
People view vegan cheese products as less nutritional than traditional dairy-based cheese. Certain vegan cheeses lack essential components like B Vitamin, calcium, and many others that further slow down the growth of the industry. Therefore, it is a big challenge in the vegan cheese industry.
Report Scope
Report Attribute |
Details |
Market Size in 2023 |
USD 2.49 Billion |
Projected Market Size in 2032 |
USD 6.91 Billion |
CAGR Growth Rate |
12.00% CAGR |
Base Year |
2023 |
Forecast Years |
2024-2032 |
Key Market Players |
Parmela Creamery, Miyoko's Creamery, Tyne Cheese Limited, Tofutti Brands Inc., Dr-Cow Tree Nut Cheese, Violife, Kite Hill, Daiya Foods Inc., Follow Your Heart, Treeline Cheese, and Others. |
Key Segment |
By End-Users, By Sources, By Distribution Channels, By Product Types, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Segmentation Analysis
The global vegan cheese market can be segmented into end-users, sources, distribution channels, product types, and regions.
On the basis of end-users, the market can be segmented into retail & household, food processing, food serving, and others. The household segment is likely to dominate the vegan cheese industry during the forecast period. An increasing number of households are including plant-based products in their diets, which is a major factor in the high growth rate of the segment. Also, people are switching to vegan options because of the increasing incidences of allergies and lactose intolerance, which is further making vegan cheese more popular in households. However, the increasing product availability in retail markets, grocery stores, and supermarkets is also likely to expand the scope of the segment.
On the basis of sources, the market can be segmented into cashew, rice, almond coconut, and others. Cashew is the fastest-growing segment in the global vegan cheese market. Cashew nuts are a popular choice for people because of their property to make creamy and smooth cheese. Cashew is a great alternative to traditional dairy-based cheese because of its low-fat content, which provides a rich mouth feel. Therefore, it is ideal for use in dips, sauces, and desserts.
Additionally, cashews are a good source of essential minerals like copper, magnesium, healthy fats, and proteins, thereby making them more appealing to health-conscious consumers. Cashew-based vegan cheese is often viewed as a premium product because of its high quality, and therefore, it is further expected to positively influence the growth of the segment. Also, cashew is an excellent alternative for people with dairy allergies.
On the basis of distribution channels, the market can be segmented into retail stores, specialty stores, convenience stores, hypermarkets, online, and others. The hypermarket segment is likely to register the highest CAGR growth during the period. The growing popularity of plant-based diets because of ethical, environmental, and health reasons is one of the major factors propelling the growth of the segment. The ongoing awareness among people regarding dairy-free diets, particularly in developed markets, is also likely to fuel the growth of the segment.
Additionally, the market is witnessing increasing incidences of lactose intolerance and dairy allergies, which is further expected to positively influence the growth of the segment. The growing demand and expansion of vegan and dairy-free offerings are pushing hypermarkets to introduce a dedicated unit for these products in their stores. Hypermarkets offer the convenience of one-stop shopping for a variety of products, which is another major factor attracting consumers. Hypermarkets are undergoing strategic partnerships with popular brands in the vegan cheese sector to come up with unique product ranges, which are further expected to increase the sales and revenue of hypermarkets.
On the basis of product type, the market can be segmented into cream cheese, cheddar, ricotta, mozzarella, parmesan, and others. The mozzarella segment accounts for the largest share of the global vegan cheese market during the forecast period. Vegan mozzarella is a staple food in many areas like quick service establishments, restaurants, pizzerias, and many others, which is a major factor for the high growth rate of the segment. Pizza is emerging as the most popular choice among people, thereby accentuating demand for mozzarella in the market.
However, the advancements in food technology are further expected to fuel the growth of the segment. These advancements help manufacturers mimic the stretchy and melting nature of dairy-based mozzarella, which in turn is more appealing to consumers who are addicted to traditional cheese.
Regional Analysis
- North America to dominate the global market.
North America is likely to account for the largest share of the global vegan cheese market during the forecast period. One of the major reasons for the high growth rate of the regional market is the surge in people's interest in plant-based diets. Consumers in North America are swiping certain products like dairy-based cheese with plant-based cheese. It is widely common, particularly among Gen-Z and Millennials. Also, the growing health awareness among people because of increasing cholesterol, lactose intolerance, and digestive health issues is also expected to appeal to health-conscious consumers. Also, the positive influence of the flexitarian and reducetarian diet trend is also likely to widen the scope of the regional market.
Asia Pacific is another major region likely to witness significant growth in the coming years. The rising health awareness among people regarding plant-based diets is one of the major factors for the high growth rate of the market. Also, the growing incidences of lactose intolerance, heart health issues, and allergies are further expected to strengthen the demand for vegan cheese in the region. Countries like South Korea, Japan, China, and Australia are witnessing increasing interest of people in plant-based or flexitarian diets due to environmental, health, and ethical reasons.
Moreover, the fast-growing urban middle-class population, along with their income, is further expected to improve their spending on premium vegan products like vegan cheese. Companies in the region are investing heavily in product innovation to come up with more localized flavors that resonate highly with regional cuisines. Therefore, such a landscape is expected to accentuate the growth of the regional market in the coming years. For instance, Treeline Cheese came up with a product line of vegan cheese made from cultured cashew cheese nuts along with other plant-based ingredients in 2020.
Competitive Analysis
The key players in the global vegan cheese market include:
- Parmela Creamery
- Miyoko's Creamery
- Tyne Cheese Limited
- Tofutti Brands Inc.
- Dr-Cow Tree Nut Cheese
- Violife
- Kite Hill
- Daiya Foods Inc.
- Follow Your Heart
- Treeline Cheese
For instance, Upfield came up with Violife, a leading vegan cheese brand, in 2021, in the Middle East. The products under this brand are said to be allergen-free and are easily available in boxes and slices. These are available in two exotic flavors namely mozzarella and cheddar.
The global vegan cheese market is segmented as follows:
By End-Users Segment Analysis
- Retail & Household
- Food Processing
- Food Serving
- Others
By Sources Segment Analysis
- Cashew
- Rice
- Almond
- Coconut
- Others
By Distribution Channels Segment Analysis
- Retail Stores
- Specialty Stores
- Convenience Stores
- Hypermarkets
- Online
- Others
By Product Types Segment Analysis
- Cream Cheese
- Cheddar
- Ricotta
- Mozzarella
- Parmesan
- 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
- Kite Hill
- Daiya Foods Inc.
- Follow Your Heart
- Treeline Cheese
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