Selbyville, Delaware, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Expert analysts claim that the worldwide plant-based cheese market size was appraised at USD 1.01 billion in 2019 and is projected to record a y-o-y growth rate of 12.8% over 2020-2027. Proliferating trend of veganism among the global population, coupled with availability of an array of vegan cheese variants are stimulating the market growth.
Global plant-based cheese market, as per the research document, is segmented based on source type, application spectrum, buyer gamut, and product terrain. Regional outlook as well as competitive ambit are also elucidated to provide better understanding of the market dynamics, while enabling the investors to make informed decisions.
According to Animals Deserve Absolute Protection Today & Tomorrow (ADAPTT) organization study, 6% of the United States population was vegan in 2018, while 1.16% of Britain population claimed to be vegan. Another reliable statistics state that retail sales of plant-based food in the U.S. rose by 11% over 2018-2019, reaching USD 4.5 billion.
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For the record, vegan cheese is not made from dairy, and is plant based instead. It is manufactured from yeast extract, margarine, and soy flour. It is to be noted that hard margarine produces hard cheese which can be sliced, while soft margarine is used to form softer vegan cheese for spreads.
Health benefits such as fat-free protein composition, rich nutrient content, and anti-oxidant properties are boosting the popularity of plant-based cheese. Also, extensive product usage across homes, bakeries, schools, restaurants, and grocery stores, in consort with consumption with plant-based snacks like chickpeas, seaweed, and beans are impelling the global plant-based cheese industry expansion.
On the contrary, high product cost, as well as availability of affordable substitutes will hamper the global plant-based cheese market remuneration.
Summarizing industry segmentations:
As per source, the market is classified into rice milk, coconut milk, almond milk, and soy milk. Based on product terrain, worldwide plant-based cheese industry is categorized into cream cheese, cheddar, parmesan, and mozzarella.
Moving on, the buyer gamut of the industry includes food processing, HORECA, and household. While the various applications are bakery & confectionary, dips & sauces, and snacks.
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Outlining regional landscape:
According to reliable estimates, Europe led the global plant-based cheese market forecast in the recent past, with the U.K. and Germany as major revenue contributors. High spending capacity, alongside consumer preference for premium food products are positively swaying the business dynamics.
Meanwhile, Asia Pacific plant-based cheese industry size is reckoned to expand substantially over 2020-2027, on account of improved health cognizance, and numerous R&D activities for developing new variants of vegan cheese.
Global Plant-based Cheese Market by Source Type (Revenue, USD Billion, 2018-2027)
- Rice Milk
- Coconut Milk
- Almond Milk
- Soy Milk
Global Plant-based Cheese Market Product Terrain (Revenue, USD Billion, 2018-2027)
- Cream Cheese
- Cheddar
- Parmesan
- Mozzarella
Global Plant-based Cheese Market by Buyer Ambit (Revenue, USD Billion, 2018-2027)
- Food Processing
- HORECA
- Household
Global Plant-based Cheese Market Application Spectrum (Revenue, USD Billion, 2018-2027)
- Bakery & Confectionary
- Dips & Sauces
- Snacks
Global Plant-based Cheese Market Regional Outlook (Revenue, USD Billion, 2018-2027)
North America
- United States
- Canada
Latin America
- Mexico
- Brazil
Asia Pacific
- South Korea
- Australia
- Japan
- China
- India
- RoAPAC
Europe
- Spain
- France
- Italy
- Germany
- United Kingdom
- ROE
Rest of the World
Global Plant-based Cheese Market Competitive Hierarchy (Revenue, USD Billion, 2018-2027)
- Back Roads Food Company
- Blue Mountain Organics
- Black Bear Schweiz GmbH
- Primal Pacs
- Paleo Braaap LLC
- EPIC Provisions LLC
- Paleo Baking Company
- Glanbia plc
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Plant-based Cheese Market, by Region, 2018-2027 (USD Billion)
1.2.2. Plant-based Cheese Market, by Source, 2018-2027 (USD Billion)
1.2.3. Plant-based Cheese Market, by Application, 2018-2027 (USD Billion)
1.2.4. Plant-based Cheese Market, by Product Type, 2018-2027 (USD Billion)
1.2.5. Plant-based Cheese Market, by Buyer Type, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Plant-based Cheese Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Plant-based Cheese Market Dynamics
3.1. Plant-based Cheese Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Plant-based Cheese Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Plant-based Cheese Market, by Source
5.1. Market Snapshot
5.2. Global Plant-based Cheese Market by Source, Performance - Potential Analysis
5.3. Global Plant-based Cheese Market Estimates & Forecasts by Source 2017-2027 (USD Billion)
5.4. Plant-based Cheese Market, Sub Segment Analysis
5.4.1. Soy milk
5.4.2. Almond milk
5.4.3. Coconut milk
5.4.4. Rice milk
Chapter 6. Global Plant-based Cheese Market, by Application
6.1. Market Snapshot
6.2. Global Plant-based Cheese Market by Application, Performance - Potential Analysis
6.3. Global Plant-based Cheese Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Plant-based Cheese Market, Sub Segment Analysis
6.4.1. Snacks
6.4.2. Dips & Sauces
6.4.3. Bakery & Confectionery
Chapter 7. Global Plant-based Cheese Market, by Product Type
7.1. Market Snapshot
7.2. Global Plant-based Cheese Market by Product Type, Performance - Potential Analysis
7.3. Global Plant-based Cheese Market Estimates & Forecasts by Product Type 2017-2027 (USD Billion)
7.4. Plant-based Cheese Market, Sub Segment Analysis
7.4.1. Mozzarella
7.4.2. Parmesan
7.4.3. Cheddar
7.4.4. Cream Cheese
Chapter 8. Global Plant-based Cheese Market, by Farm Source
8.1. Market Snapshot
8.2. Global Plant-based Cheese Market by Buyer Type, Performance - Potential Analysis
8.3. Global Plant-based Cheese Market Estimates & Forecasts by Buyer Type 2017-2027 (USD Billion)
8.4. Plant-based Cheese Market, Sub Segment Analysis
8.4.1. Household
8.4.2. HORECA
8.4.3. Food Processing
Chapter 9. Global Plant-based Cheese Market, Regional Analysis
Related Report:
U.S. Plant-Based Meat Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The U.S. plant-based meat market is anticipated to grow substantially over the forthcoming time period owing to a consumer shift towards healthy lifestyle options due to the prevalence of medical conditions caused by excessive consumption of meat. Plant-based meat is basically meat that is made from plants. These can be in the form of sausages, nuggets, burger patty, or crumbles, and are now considered a popular choice among individuals as a healthier meat alternative. Based on demographics, the market is categorized into millennials, gen Z, gen X, baby boomers, and others. Others demographic segment includes silent generation and greatest generation. This segment will register over 20% gains over the forecast timeframe.
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