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The global vegan cheese market grew at a CAGR of around 12% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan cheese market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type, source, distribution channel and application.
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The competitive landscape of the industry has also been examined along with the profiles of the vegan food manufaturers being Daiya Foods Inc., Dr-Cow Tree Nut Cheese, Galaxy Nutritional Foods Inc. (Greenspace Brands Inc.), Good Planet Foods LLC, Kite Hill, Miyoko's Creamery, Parmela Creamery, Tofutti Brands Inc., Tyne Chease Limited, Violife Foods and Vtopian Artisan Cheeses.
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