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’ 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’ 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 2021-2030.
• Detailed segmentation by type – Cheddar, Parmesan, Mozzarella, Cream, and Others.
• The report also 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 also covers consumer survey results highlighting the factors influencing consumers’ choices while choosing a product, along with the drivers and challenging factors impacting the market. The report 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 Alternatives Manufacturing
• Vegan Dairy Product Manufacturing
• Foodservice Sector
• Regulations and Policy Making
• Independent Research
• BI analysts
• Venture Funding
  

Vegan Cheese Report Overview

The global vegan cheese market was valued at $1.4 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of more than 16% over the forecast period. Growing health consciousness, ethical considerations, and a preference for eco-friendly consumption are driving increasing consumer interest in the vegan cheese market.

Vegan Cheese Market Outlook, 2021-2030 ($ Billion)

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The vegan cheese market is growing primarily due to the increasing number of consumers who have been exhibiting a greater inclination towards plant-based food products. The growing number of consumers seeking plant-based alternatives to traditional dairy products is driven by the asserted health benefits of plant-based diets, as well as considerations related to allergies and lactose intolerance. Vegan cheese is a good substitute that lets customers enjoy items that taste and feel like cheese without compromising quality.

The growth of the vegan cheese market has been accelerated due to continuous innovation and product evolution within the plant-based food industry. Manufacturers are consistently launching novel and enhanced vegan cheese varieties that closely replicate the flavor, consistency, and textural characteristics of traditional dairy cheese. Progress in food technology has facilitated the creation of artisanal and premium vegan cheeses, broadening the market’s appeal to not only health-conscious individuals but also to food enthusiasts and culinary experts.

In addition to consumers’ health concerns, the demand for plant-based cheese is surging due to heightened awareness of environmental issues and a growing aversion to animal cruelty. As awareness grows regarding the inhumane treatment of animals in food production, consumers are transitioning their dietary preferences from animal-derived products to plant-based alternatives. Similarly, there is an increasing recognition of the environmental ramifications associated with animal agriculture and dairy farming, prompting a shift towards more sustainable dietary options. This includes the adoption of plant-based alternatives such as vegan cheese. The production of vegan cheese typically requires fewer resources, including water and land, and generates lower greenhouse gas emissions compared to traditional dairy cheese production, making it an eco-friendly choice.

Although the vegan cheese industry is witnessing rising demand, various challenges are obstructing its growth potential. The production of vegan cheese can be costlier than that of traditional dairy cheese due to the higher prices of plant-based ingredients and the additional processing steps involved. As a result, consumers may face higher prices, potentially constraining the market’s expansion. Further, the shorter shelf life of vegan cheese compared to dairy cheese can pose a challenge for manufacturers and retailers, particularly in managing inventory and reducing waste. Additionally, some consumers still harbor negative perceptions of vegan cheese, frequently associating it with inferior taste or quality in comparison to traditional dairy cheese. Overcoming these perceptions and educating consumers about the advantages of vegan cheese can be challenging.

Vegan Cheese Source Insights

Based on the source, the vegan cheese market has been classified into almond, cashew, coconut, soy, and others. The market is led by the coconut-based vegan cheese category and is also expected to register a healthy compound annual growth rate over the forecast period. The segment’s growth can be attributed to its versatile use for various dishes and its ability to replicate the taste and texture of dairy-based cheese. Further, it is free from allergens and rich in fibers and healthy fats which might appeal to health-conscious consumers.

Cashew-based cheese is also a preferred option among vegan cheese consumers due to its mild flavor and creamy texture which can be easily blended with other ingredients, resulting in a diverse range of cheese flavors. Further, cashews provide healthy fats, protein, and minerals, thereby making it a nutritious substitution for dairy-based cheese.

Vegan Cheese Market Share, By Source, 2023 (%)

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The almond-based cheese segment is expected to register strong growth at a CAGR exceeding 15% from 2023 to 2030. Its production is more environmentally friendly than dairy-based milk, making it appealing to eco-conscious consumers. Being lactose-free and packed with essential nutrients like fiber, vitamin E, proteins, and healthy fats, almond cheese is a popular choice for those seeking healthier food options. These factors are expected to drive the growth of almond-based vegan cheese in the coming years.

Vegan Cheese Type Insights

Based on type, the vegan cheese market is classified into parmesan, mozzarella, cheddar, cream, and others. Cheddar cheese dominated the vegan cheese market across geographies and registered the highest revenue share in 2023. The segment’s popularity can be attributed to its versatile use in various dishes, making it a familiar and appealing option for consumers switching from dairy to plant-based diets.

Vegan Cheese Market Share, By Type, 2023 (%)

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The mozzarella cheese segment is projected to record the highest sales growth over the forecast period. Vegan mozzarella cheese is increasingly accessible in supermarkets and retail stores. Further, with a wider variety of options available, including shredded, sliced, and block varieties, it caters to diverse culinary preferences and requirements.

Vegan Cheese Regional Insights

The European region accounted for the largest revenue share in the global vegan cheese market in 2023. Europe has a rich tapestry of culinary traditions and dietary preferences. Plant-based cheese is appealing to consumers continent-wide, including those who adhere to Mediterranean diets that prioritize plant-based foods. Further, European governments and organizations are actively promoting sustainable diets, which is driving the expansion of the plant-based food market.

In October 2022, the European Commission registered the European Citizens’ Initiative for Vegan Meal, which proposes a law mandating the availability of vegan alternatives in private and public establishments that sell food and beverages in Europe. The initiative’s organizers argue that this measure would respond to the growing collective consciousness regarding animal rights, as well as contribute to combating the climate crisis by promoting the consumption of plant-based foods and lowering food costs.

Europe is characterized by a strong environmental awareness, with consumers showing growing concern about the environmental consequences of their food choices. The popularity of vegan cheese in Europe is further fueled by the region’s diverse culinary landscape and a general openness to embracing plant-based alternatives., which aligns with the region’s sustainability objectives.

Vegan Cheese Market Share By Region, 2023 (%)

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North America has been witnessing a substantial increase in demand for vegan food products, thereby aiding the growth of plant-based cheese products. This can be attributed to North Americans who have become increasingly health-conscious, with many seeking alternatives to traditional dairy products. Plant-based cheese aligns with these dietary preferences by offering a lower cholesterol and saturated fat option. Vegan cheese offers consumers the experience of dairy cheese-like tastes and textures without inflicting harm on animals. The ethical and moral motivations behind selecting plant-based options are gaining traction among an expanding demographic, particularly among younger generations, thereby aiding the growth of the market.

Vegan Cheese Market Share Insights

The current competitive landscape of the vegan cheese market has changed as a result of growing customer demand for plant-based, dairy-free alternatives. This market offers a wide range of items with different flavors and textures, including cheese blocks, slices, shreds, and cream cheeses. Businesses constantly innovate to satisfy the wide range of demands of their customers, with a focus on developing distinctive combinations of plant-based components to enhance flavor and texture. The utilization of less commonly used sources such as potatoes and oats is an innovation in this field.

Effective branding and marketing are essential in the vegan cheese industry. Businesses attract consumers usually by drawing attention to the vegan cheese products’ ethical, sustainable, and health benefits. Vegan cheese manufacturers are collaborating with vegan influencers and using celebrity endorsements as marketing strategies. Plant-based options are becoming more and more popular, and companies are trying to gain a competitive edge with innovative products, creative marketing strategies, and eco-friendly initiatives. Future trends in this industry are likely to be shaped by changing customer tastes as well as an increasing awareness of environmental and health concerns.

Leading Players in the Vegan Cheese Market

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

Vegan Cheese Market Segments and Scope

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

Global Vegan Cheese Type Outlook (Revenue, $ Million; 2021-2030)

• Cheddar
• Parmesan
• Mozzarella
• Cream
• Others

Global Vegan Cheese Source Outlook (Revenue, $ Million; 2021-2030)

• Almond
• Cashew
• Coconut
• Soy
• Others

Global Vegan Cheese Regional Outlook (Revenue, $ Million; 2021-2030)

• 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 the Middle East & Africa