Global Vegan Cheese Market, By Product Type (Parmesan, Mozzarella, Ricotta, Cream Cheese and Cheddar), Product Form (Slices, Blocks and Wedges and Shreds), Source (Coconut, Almond, Soy, Rice, Cashew, Peanut, Pine Nuts, Hazelnut and Others), Distribution Channel (Hypermarkets, Supermarkets, Convenience Stores, Specialty Stores, Retail Stores, Online and Others), End Use Industry (Food Servicing, Food Processing, Retail and Household and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the global vegan cheese market will project a CAGR of 17.35% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, growing prevalence of lactose intolerant population globally and increasing personal disposable income are the major factors attributable to the growth of vegan cheese market.
Veganism means abstaining from the application of animal based products especially in food and beverage items. Vegan cheese is an alternative to dairy cheese that is obtained from plant based ingredients like nuts, soy protein, nutritional yeast, natural enzymes, vegetable glycerine and so on. With the changing consumer tastes and preferences and changing consumer lifestyle, manufacturers are innovating with the flavours of vegan cheese. Vegan cheese is low in fat and gluten free.
Rising personal disposable income, shifting tastes and preferences for and increasing adoption of western lifestyle are the major factors fostering the growth of vegan cheese market. Rising vegan population globally and increasing concerns regarding the safety and health of animals are some other factors acting as market growth determinants. Rising focus manufacturers of the manufacturers on innovative product offerings coupled with increased restrictions on animal-based food products will further create lucrative growth opportunities for the market.
However, high costs associated with the consumption of vegan products will pose a major challenge to the growth of vegan cheese market. Lack of awareness in the backward areas and underdeveloped economies will further derail the market growth rate.
This vegan cheese market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vegan cheese market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Vegan Cheese Market Scope and Market Size
The vegan cheese market is segmented on the basis of product type, product form, source, distribution channel and end user industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the vegan cheese market is segmented into parmesan, mozzarella, ricotta, cream cheese and cheddar.
- On the basis of product form, the vegan cheese market is segmented into slices, blocks and wedges and shreds.
- On the basis of source, the vegan cheese market is segmented into coconut, almond, soy, rice, cashew, peanut, pine nuts, hazelnut and others.
- On the basis of distribution channel, the vegan cheese market is segmented into hypermarkets, supermarkets, convenience stores, specialty stores, retail stores, online and others.
- On the basis of end user industry, the vegan cheese market is segmented into food servicing, food processing, retail and household and others.
Vegan Cheese Market Country Level Analysis
The vegan cheese market is analyses and market size, volume information is provided by country, product type, product form, source, distribution channel and end user industry as referenced above.
The countries covered in the vegan cheese market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America spearheads the vegan cheese market and will continue to flourish its trend of dominance during the forecast period. Increased focus of the manufacturers on product innovations and rising vegan population owing to the rising awareness in the region are the major factors fostering the market growth in this region. Asia-Pacific is also set to project the highest growth rate during the forecast period. This means that the region will score the highest compound annual growth rate for the forecast period. This is because of the rise in the demand for natural and organic plant-based food items, changing lifestyle and personal disposable income.
The country section of the vegan cheese market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vegan Cheese Market Share Analysis
The vegan cheese market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vegan cheese market.
The major players covered in the vegan cheese market report are Kite Hill., Nush Foods., Tesco.com, Follow Your Heart, Field Roast, Miyoko's Creamery, WayFare., GOOD PLANeT Foods., Brownstoner LLC, Tofutti Brands, Inc., Bute Island Foods Ltd, Kinda Co., So Delicious Dairy Free, Reine LLC, Uhrenholt A/S, Dr-Cow Tree Nut Cheese, Lido Dude Inc. Toki, LLC, Parmela Creamery, Gardners Wisconsin Cheese and Sausage. and DAIYA FOODS INC. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.