Vegan Cheese Market Size and Trend Analysis by Region, Type, Source (Almond, Cashew, Coconut, Soy) and Segment Forecast to 2030

Accessing the in-depth insights from the ‘Vegan Cheese’ market report can help you:

• Make informed decisions about market entry, technology adoption, and project planning.
• Identify competitors’ capabilities to stay ahead in the market.
• Identify promising segments (type and source), growth trends, regional trends, and markets to expand your regional presence, and product portfolio, and discover successful investment opportunities.
• Anticipate changes in demand and adjust business development strategies.
• Identify ongoing potential projects across regions.

How is our ‘Vegan Cheese’ market report different from other reports in the market?

• The report presents in-depth market sizing and forecasts at a segment level for more than 15 countries, including historical and forecast analysis and market assessment for 2020-2030.
• Detailed segmentation by type – cheddar, parmesan, mozzarella, cream, and others.
• The report highlights segmentation at source – almond, cashew, coconut, soy, and others.
• The report offers insights into the industry value chain, along with the drivers and challenging factors impacting the market.
• The report covers consumer survey results highlighting the factors influencing the choice for consumers while choosing a product, along with the drivers and challenging factors impacting the market. The report further presents an analysis of M&A deals, venture financing deals, hiring trends, and social media trends in the plant-based food sector.
• Competitive profiling and benchmarking of key companies in the market provides a deeper understanding of industry competition.

We recommend this valuable source of information to anyone involved in:

• Plant-based Cheese Manufacturing
• Dairy Product Manufacturing
• Foodservice Sector
• Regulations and Policy Making
• Independent Research
• BI Analysts
• Venture Funding

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Vegan Cheese Market Report Overview

The global vegan cheese market will be valued at $1.4 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.7% over the forecast period. Plant-based cheese prepared using nuts, seeds, vegetables, and soy, among others, is classified as vegan cheese. The demand for vegan cheese is being driven by a combination of health, ethical, environmental, and taste-related factors. As consumer awareness continues to grow and the quality of vegan cheese improves, it is likely that this trend will persist and even accelerate in the coming years.

Vegan Cheese Market Outlook, 2020-2030 ($ Billion)

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The rise in the vegan and vegetarian population is a major contributor to the increasing demand for vegan cheese. An increase in the number of vegans and vegetarians directly correlates with higher demand for dairy alternatives. Since vegans and vegetarians seek alternatives to traditional dairy products, their growing population represents a consistent customer base for vegan cheese manufacturers. Furthermore, the trend has extended beyond the vegan and vegetarian communities, with many flexitarians choosing to incorporate more plant-based options into their diets. These consumers, who may not commit to a fully vegan or vegetarian lifestyle but reduce their meat and dairy consumption, contribute to the rising demand for vegan cheese.

Plant-based cheese is an excellent option for individuals who are intolerant to lactose, a sugar found in animal milk and milk products. In addition to helping individuals with lactose intolerance and dairy allergies, vegan cheese is also helpful for individuals looking to manage their cholesterol levels or reduce their intake of saturated fats. Vegan cheese is typically cholesterol-free and lower in saturated fat, thereby providing a desirable option to this demographic. Thus, increasing health consciousness among consumers is also expected to drive the demand for dairy-free cheese over the forecast period.

Apart from people’s health, plant-based cheese demand is also gaining momentum owing to increasing awareness of environmental concerns and rising intolerance towards animal cruelty. Owing to the inhuman treatment of animals raised for food, consumers are switching their food preferences from animal products to plant-based food. Similarly, consumers are becoming increasingly aware of the environmental impacts associated with animal agriculture and dairy production, which has led to a shift towards more sustainable food choices, including plant-based alternatives like vegan cheese. Vegan cheese production generally requires fewer resources, including water and land, and emits fewer greenhouse gases compared to traditional dairy cheese production, making it a more environmentally friendly choice.

However, despite the rising demand, various challenges affect the growth of the vegan cheese industry. Vegan cheese production often involves more complex processes and expensive ingredients like nuts or plant-based proteins. These factors contribute to higher production costs, which are then passed on to consumers, making vegan cheese more expensive per unit compared to dairy cheese. Additionally, vegan cheese often fails to replicate the complex flavors found in traditional dairy cheese. These cheese varieties may lack the distinct tanginess and depth of flavor that many consumers associate with cheese, thereby impeding its widespread adoption.

Vegan Cheese Market Segmentation by Source

Based on the source, the vegan cheese market has been categorized into almond, cashew, coconut, soy, and others. Coconut-based vegan cheese dominates the overall market and is poised to grow at a healthy compound annual growth rate over the forecast period. The neutral taste of coconuts allows for diverse culinary applications, while its natural richness enhances the overall taste experience. Additionally, it aligns with the plant-based, dairy-free lifestyle that many consumers seek, thereby augmenting segmental growth.

Cashew-based cheese is also a preferred option among vegan cheese consumers due to its rich, creamy texture and savory taste. Cashews provide a satisfyingly cheesy mouthfeel, making it a top choice for those seeking a luxurious dairy-free cheese alternative. Its versatility and compatibility with various recipes also add to its appeal.

Vegan Cheese Market Share by Source, 2023 (%)

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The almond segment is projected to grow at a healthy CAGR exceeding 15% from 2023 to 2030. Almond milk is a proven alternative to dairy milk for people diagnosed with lactose intolerance. As a result, almond-based cheese automatically appeals to consumers seeking dairy-free alternatives to cheese. Additionally, almond-based cheese contains essential nutrients like magnesium, vitamin E, proteins, fiber, and lots of healthy fats. The presence of such nutritional content makes it a preferred choice among consumers seeking healthier dietary options. All these factors are expected to upkeep the demand for almond-based vegan cheese over the forecast period.

Vegan Cheese Market Segmentation by Type

The vegan cheese market by type is segregated into cheddar, parmesan, mozzarella, cream, and others. Cheddar cheese accounted for the largest revenue share in 2022 and is the most popular choice across geographies. Its popularity can be attributed to its familiar taste and texture to dairy cheese, making it an attractive choice for consumers transitioning to plant-based diets. Moreover, cheddar cheese’ adaptability in various dishes enhances its appeal in the growing vegan food market.

Vegan Cheese Market Share by Type, 2023 (%)

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Mozzarella cheese is projected to record the highest sales growth over the forecast period. Mozzarella cheese possesses exceptional meltability and stretchiness, qualities, highly sought after in pizzas and other dishes, making it a preferred choice for products prepared from dairy-based mozzarella cheese. Vegan mozzarella cheese’ ability to closely mimic the texture and taste of traditional mozzarella makes it a top choice for consumers looking for authentic vegan alternatives.

Vegan Cheese Market Analysis by Region

Growing environmental awareness has significantly influenced the growth of the vegan cheese market in Europe. Europe has a strong environmental consciousness, and consumers are increasingly concerned about the environmental impact of their food choices. Traditional dairy cheese production is resource-intensive, with high greenhouse gas emissions, water consumption, and land use. Plant-based cheese production generally has a lower environmental footprint, aligning with European sustainability goals.

In May 2021, the European Union announced its decision to drop Amendment 171, which was aimed at imposing new restrictions on plant-based dairy products. The restrictions could have prevented plant-based dairy products from providing essential health and allergen information, using packaging similar to those used for dairy products (cartons), using images of their products, and informing consumers about the climate impact of foods. Thus, the rejection of Amendment 171 helps manufacturers in educating consumers and creating a demand for their products.

Vegan Cheese Market Share by Region, 2023 (%)

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Similar to Europe, North America has also witnessed a significant increase in health awareness and the adoption of environmentally sustainable lifestyles. Additionally, many North Americans are becoming more aware of and concerned about animal welfare issues in the dairy industry. Plant-based cheese allows consumers to enjoy cheese-like flavors and textures without contributing to animal suffering. The ethical and moral reasons for choosing plant-based options are resonating with a growing segment of the population, particularly among younger generations.

Vegan Cheese Market – Competitive Landscape

The competitive landscape of the vegan cheese market has evolved significantly over the past few years, driven by increasing consumer demand for plant-based and dairy-free alternatives. The market is characterized by a wide range of vegan cheese products. This includes cheese slices, shreds, blocks, and cream cheeses, with a variety of flavors and textures. Companies are constantly innovating to cater to different consumer preferences. Developing proprietary blends of plant-based ingredients to achieve better taste and texture is a focus for many companies. Innovations include using cashews, almonds, soy, and even unconventional ingredients like oats and potatoes.

Effective branding and marketing play a significant role in this market. Companies often emphasize the health benefits, sustainability, and ethical aspects of their vegan cheese products. Celebrity endorsements and partnerships with vegan influencers are common strategies. As consumer preferences shift towards plant-based options, both established companies and newcomers are striving to capture a share of this growing market through product innovation, marketing strategies, and sustainability initiatives. The future of this market will likely continue to be shaped by changing consumer tastes and increasing awareness of environmental and health concerns.

Leading Players in the Vegan Cheese Market

• Bute Island Foods Ltd
• Daiya Foods Inc
• Follow Your Heart
• Franklin Foods Inc
• Lyrical Foods, Inc
• Moocho Foods
• Tofutti Brands Inc
• Upfield BV

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Vegan Cheese Market Segments and Scope

GlobalData Plc has segmented the vegan cheese market report by type, source, and region:

Vegan Cheese Market Type Outlook (Revenue, $ Million; 2020-2030)

• Cheddar
• Parmesan
• Mozzarella
• Cream
• Others

Vegan Cheese Market Source Outlook (Revenue, $ Million; 2020-2030)

• Almond
• Cashew
• Coconut
• Soy
• Others

Vegan Cheese Market Regional Outlook (Revenue, $ Million; 2020-2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • Italy
  • UK
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The market intelligence report provides an in-depth analysis of the following –

• Vegan cheese market outlook: analysis as well as historical figures and forecasts of revenue opportunities from the type, source, and regional segments
• Company profiling: analysis of the overview, financials, strategic initiatives, and key personnel of the leading companies in the vegan cheese market
• Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook

Scope

• This report provides overview and value for vegan cheese.
• It identifies the key trends impacting growth of the market over the next 12 to 24 months, split into four categories: driver & challenges analysis, dashboard analysis, and consumer insights.
• It includes global market forecasts for the vegan cheese industry and analysis of company filings.
• It contains details of M&A deals in the plant-based diet space.

Key Highlights

The vegan cheese market will be valued at $1.4 billion in 2023 and is expected to grow at a CAGR of 16.7% during 2023-2030. Rising environmental concerns, health-conscious choices, lactose intolerance awareness, and ethical considerations related to animal welfare among consumers are the major factors driving vegan cheese market growth.

Reasons to Buy

• This market intelligence report offers a thorough, forward-looking analysis of the global vegan cheese market by type, source, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
• Accompanying GlobalData’s Forecast products, the report examines the assumptions, drivers, deals, strategic initiatives, and trend analysis in the vegan cheese market.
• Detailed segmentation by type – cheddar, parmesan, mozzarella, cream, and others. Further, the report also highlights segmentation at source – almond, cashew, coconut, soy, and others.
• The report includes 50+ charts and tables providing in-depth analysis of the market size, forecast, and supporting factors which are tailor-made for an executive-level audience, with enhanced presentation quality.
• The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market competitors, which enables executives to quickly get up to speed with the current and emerging trends in the vegan cheese market.
• The broad perspective of the report, coupled with comprehensive, actionable detail, will help food industry stakeholders, service providers, and other plant-based food providers succeed in growing the vegan cheese market globally.