Wilmington, Delaware, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The vegan cheese market was estimated to have acquired US$ 2.4 billion in 2019. It is anticipated to register a 10.0% CAGR from 2020 to 2030 and by 2030, the market is likely to gain US$ 7.0 billion.
The key element driving the market for vegan cheese is the increasing vegan and plant-based diets, due to ethical, environmental, and health concerns. Vegan cheese serves as a dairy-free alternative, aligning with these dietary choices.
Download PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=65369
Global Vegan Cheese Market: Key Players
A few number of dominant worldwide firms hold the majority of the market share in the vegan cheese industry. The market's major companies are concentrating on diversifying their product lines.
The big players' primary strategy includes mergers and acquisitions. In order to acquire a competitive edge in the industry, market competitors are concentrating on offering high-quality services.
The following companies are well-known participants in the global vegan cheese market:
- Violife Foods
- Daiya Foods
- Tyne Chease Limited
- Vtopian Artisan Cheese Company
- Kite Hill
- Miyoko’s Kitchen Company
- Vermont Farmstead Company
- Good Planet Foods
- Follow Your Heart
- Galaxy Nutritional Foods, Inc.
- Parmela Creamery
- Field Roast Grain Meat Co.
Key developments in the global vegan cheese market are:
- In 2023, Violife expanded its product line to include vegan cheese blocks, spreads, and dips.
- In 2023, Daiya Foods Inc. launched a new line of vegan cheese snacks, such as mozzarella sticks and mac and cheese bites.
- In 2023, Kite Hill launched a new line of vegan cheese spreads made with yogurt.
- In 2022, Treeline Cheese launched a new line of vegan cheddar cheese made with aged cashew nuts.
- In 2022, Upfield launched a new line of vegan cheese spreads made with almonds and oats.
The demand for vegan cheese is also being driven by health consciousness. Consumers are becoming more health-conscious, seeking lower-fat, lower-cholesterol, and allergen-free options. Vegan cheese caters to these preferences, offering a healthier alternative to traditional dairy cheese.
Concerns about the environmental impact of the dairy industry, including greenhouse gas emissions and land use, are motivating consumers to opt for plant-based alternatives like vegan cheese. Ethical concerns about animal welfare drive demand for vegan products, including cheese, as it eliminates the need for dairy farming.
Continuous innovation in the vegan cheese market has led to improved taste, texture, and meltability, making these products more appealing to consumers. Manufacturers are introducing a wide range of flavors, including traditional options like cheddar and mozzarella as well as unique varieties, enhancing consumer choices.
Key Findings of the Market Report
- By nature, conventional was the leading segment of vegan cheese market in 2020 and accounts for approximately 62% of the market.
- The major factors that are expected to boost the growth of the familiarity and palatability, wide availability, and established brands.
- Ingredient innovation, and target audience are other major factors driving the segmental growth.
- By product type, the mozzarella vegan cheese segment is leading the vegan cheese market with a share of ~34%, attributed to the factors including pizza popularity, versatile melting properties, and texture and flavor
- Foodservice adoption and consumer preference are other factors that are anticipated to fuel the segmental growth.
Market Trends for Vegan Cheese
- Vegan cheese is being used not only by vegans but also by flexitarians and lactose-intolerant individuals as a substitute for dairy cheese in various recipes.
- The market is witnessing an emergence of artisanal and specialty vegan cheese brands that focus on high-quality, unique, and gourmet offerings.
- Consumers are increasingly looking for clean label products with recognizable and natural ingredients, pushing manufacturers to use minimal and wholesome components in vegan cheese production.
- Vegan cheese is becoming more accessible as it gains shelf space in mainstream grocery stores, expanding its consumer base.
Contact us for Special Discount and Pricing @ https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=65369
Market for Vegan Cheese: Regional Outlook
Various reasons are propelling the growth of the vegan cheese market in different countries. These are:
Europe
- European consumers are becoming more health-conscious and environmentally aware. Many are adopting plant-based diets as a way to reduce their carbon footprint and promote better health. Vegan cheese aligns with these lifestyle choices.
- Europe has witnessed a significant increase in the number of vegans and vegetarians.
- European chefs and food manufacturers are continuously developing new vegan cheese products that closely mimic the taste and texture of traditional dairy cheese. The innovations make plant-based options more appealing to a broader audience. Europe is expected to grow with CAGR 10.1% through 2030.
North America
- North American consumers are becoming increasingly health-conscious, leading many to adopt plant-based diets. Vegan cheese is perceived as a healthier alternative to traditional dairy cheese, contributing to its popularity.
- North America has witnessed a significant increase in the number of vegans and vegetarians. The dietary choices are driving the demand for vegan cheese as a dairy-free, cruelty-free, and environmentally friendly option.
Global Vegan Cheese Market Segmentation
Product Type
- Mozzarella
- Cheddar
- Pepper Jack
- Parmesan
- Gouda
- Other Product Types
Nature
- Organic
- Conventional
Flavor
- Regular
- Flavored
- Herbs
- Spices
- Blends
Protein Source
- Almond
- Coconut
- Cashew
- Legumes
- Oats
- Soybeans
- Others
End Use
- Food Industry
- Bakery & Confectionery
- Snacks
- Soups & Sauces
- Ready Meals
- Salads & Dressings
- Other Food Products
- Foodservice/HoReCa
- Household
Sales Channel
- B2B/Direct Sales
- B2C/Indirect Sales
- Hypermarkets/Supermarkets
- Convenience Stores
- Independent Grocery Stores
- Specialty Stores
- Online Retailing
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
Place an Order Copy of Vegan Cheese Market Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=65369<ype=S
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
