Delaware, Wilmington, Aug. 03, 2023 (GLOBE NEWSWIRE) -- A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, production capabilities of the top companies, an overview of the competition, strategic imperatives, adoption by key countries, leading brand analysis, key end users, potential growth areas, and competition analysis for the target players evaluated in the MENA vegan cheese market study.
Market Overview and Dynamics: Rise of veganism trend among millennial
Middle East & Africa vegan cheese market is expected to grow at a CAGR of 12.2% in the forecast period of 2022-2028. Analysis by RationalStat. Middle East & Africa is expected to account for a meager share of 5% by the end of the forecast period.
- The growing awareness regarding animal cruelty and MENA concerns over carbon footprint due to the animal-based diet has encouraged consumers to opt for plant-based products.
- Not just meat, the vegan population avoids all types of animal-derived products, including cheese, milk, cream, yogurt, and even honey, which will support the market growth.
- Rising personal disposable income, shifting tastes and preferences for and increasing adoption of the Western lifestyle is also expected to fuel the demand for vegan cheese across the globe.
- In addition, the use of Mozzarella in Italian recipes like spaghetti, pizza, croquettes, and Caprese salad. In nations where Italian cuisine is well-liked, there is a notably high demand for mozzarella.
Furthermore, the food service industry has significantly contributed to the growth of the vegan cheese market, as hotels, restaurants, and fast-food outlets label their products with vegan cheese and serve vegan cheese as an appetizer. The lactose-intolerant population or allergic to dairy are becoming more concerned about the availability of plant-based cheese in the Middle East & Africa markets. Recently in Saudi Arabia, vegan restaurants were established across the region for promoting a healthy lifestyle.
However, the Turkish government made an unprecedented move to officially ban the production and sale of vegan cheese alternatives in the country. According to the Vegan Association of Turkey (TVD), producers of vegan cheese have recently reported that they can no longer sell their products and that factories were to be inspected.
Moreover, the companies producing vegan cheese are expected to be fined heavily and vegan cheese products have been withdrawn from the market, leaving consumers without access to these products.
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Market Segment Analysis for the Middle East & North Africa Market
- Based on the cheese type, plant-based Ricotta is expected to grow at a prominent rate, with a CAGR of more than 16% during the forecast period.
- Based on the source type, the cashew segment held the largest revenue share of more than 35.0% in 2021 and is expected to maintain its dominant position throughout the forecast period. Cashew-based vegan cheese contains vitamins B2 & B12 and is low in fat. This makes it favorable among health-conscious consumers all over the world. Furthermore, gluten-free and cholesterol-free cashew products are gaining traction owing to their health benefits.
- Based on end user type, the B2C segment led the MENA market in 2021 and accounted for a revenue share of more than 50.0%. Factors such as increased consumer disposable income levels and willingness to spend on premium products have led to a rise in the demand for plant-based products in the B2C segment.
- In addition, easy product availability in supermarkets and convenience stores has boosted the growth of this segment.
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Competition Analysis: Regional Players Dominate the Domestic Markets
Over the last decade, the MENA vegan cheese market has grown rapidly. MENA vegan cheese market is fragmented in nature with the presence of various players in the market.
These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the MENA vegan cheese market.
- In November 2022, Upfield launched a vegan cheese brand Violife in the Middle East. The brand is an allergen-free, alternative range to dairy and would be available in slices, boxes, and grated in two flavors such as cheddar and mozzarella.
- In 2022, Next Gen Foods released their TiNDLE chicken made from soy and wheat protein in Singapore restaurants and plans to expand to additional APAC countries, the US, Europe, and the Middle East.
Some of the leading players involved in the production and marketing of the vegan cheese market in MENA include Miyoko’s Creamery, Violife, Grattaveg, Mozarella Flavour Slices, Mommus, Muffervert, Grattì, Bute Island Foods Ltd, Be Vegan, Freakin’ Healthy among others.
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RationalStat has segmented the MENA vegan cheese market on the basis of cheese type, source, form, end user, application, sales channel, and region.
- By Cheese Type
- Mozzarella
- Parmesan
- Cheddar
- Cream Cheese
- Ricotta
- Others (Gouda, Pepper Jack, etc.)
- By Source
- Almond Milk
- Coconut Milk
- Soy Milk
- Cashew Milk
- Others (Pine Nuts, Hazelnuts, etc.)
- By Form
- Blocks
- Slices
- Shredded
- Others (Spreads, Cubes, etc.)
- By End User
- Personal, Household, and Residential(B2C)
- Commercial(B2B)
- Retail
- HoReCa
- Food Processing
- By Application
- Fast Food Snacks
- Baked Goods
- Processed and Packed Food
- Dairy and Desert
- Dips and Sauces
- Dressing
- By Sales Channel
- Offline
- Hypermarkets/supermarkets
- Retail Stores
- Online/Ecommerce
- Offline
- By Region
- Middle East
- GCC
- South Africa
- Bahrain
- Kuwait
- Oman
- Qatar
- UAE
- Turkey
- Rest of the Middle East
- GCC
- Africa
- South Africa
- Rest of Africa
- Middle East
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Key Questions Answered in the Middle East & Africa vegan cheese Report:
- What will be the market value of the Middle East & Africa vegan cheese market by 2028?
- What is the market size of the Middle East & Africa vegan cheese market?
- What are the market drivers of the Middle East & Africa vegan cheese market?
- What are the key trends in the Middle East & Africa vegan cheese market?
- Which is the leading region in the Middle East & Africa vegan cheese market?
- What are the major companies operating in the Middle East & Africa vegan cheese market?
- What are the market shares by key segments in the Middle East & Africa vegan cheese market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in MENA, Mexico, and the US to support the Middle East & Africa and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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