Vegan Cheese Market Research Report

Market Overview:

The global vegan cheese market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 12.45% during 2023-2028.

Vegan cheese is an alternative to dairy cheese, which is formulated using plant-based ingredients such as nuts, soy protein, nutritional yeast, natural enzymes, vegetable glycerin, and assorted bacterial cultures. It is mixed with oils, starches, emulsifiers, thickeners, and spices to create a firm consistency and mimic dairy cheese flavors. Nowadays, leading manufacturers are innovating vegan cheese flavors with arrowroot, tapioca flour, pea protein, carrageenan, xanthan gum, and thickening agar flakes to expand their consumer base.

Market Trends and Drivers:

Vegan cheese is generally gluten-free and low in fat than regular cheese. A significant rise in the adoption of gluten-free and plant-based diets, along with the growing popularity of ready-to-eat (RTE) packaged vegan food and beverages, represents one of the key factors stimulating the market growth. Apart from this, major players are introducing vegan cheese in varying bases, textures, flavors, and forms like shredded, cream, block, sliced, soft, parmesan-style, and dips. For instance, Boursin (Bel Brands USA) introduced dairy-free garlic and herbs cheese spread on Amazon Fresh in October 2020. Moreover, these players are introducing minimally processed product variants with high amounts of fiber, healthy fats, and vital micronutrients. They are also forming partnerships with fast food service joints to serve products like pizza, cream cheese and cheesecake made using vegan cheese. Other factors, including the increasing number of individuals with lactose intolerance and the rising access to dairy-free products, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan cheese market report, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type, source, distribution channel, and application.

Breakup by Product Type:

• Mozzarella
• Cheddar
• Parmesan
• Ricotta
• Cream
• Others
   

Breakup by Source:

• Soy
• Almond
• Coconut
• Cashew
• Others
   

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others
   

Breakup by Application:

• Household
• Food Processing
• Foodservice
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the vegan cheese manufacturers being Daiya Foods Inc., Galaxy Nutritional Foods Inc. (Greenspace Brands Inc.), Good Planet Foods LLC, Kite Hill, Miyoko's Creamery, Parmela Creamery, Tofutti Brands Inc., Tyne Chease Limited, and Violife Foods.

Report Coverage:

Key Questions Answered in This Report:

• How has the global vegan cheese market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global vegan cheese market?
• What are the key regional markets?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the source?
• What is the breakup of the market based on the distribution channel?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global vegan cheese market and who are the key players?
• What is the degree of competition in the industry?