New York, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The vegan cheese market is expected to rise significantly, with estimates indicating that it would be valued USD 8.0 billion by 2032, a significant increase from its USD 4.2 billion value in 2022. The market shows a rising demand for plant-based substitutes for conventional dairy products, with a strong CAGR of 6.9% predicted from 2023 to 2032.
The rise in demand can be attributed to an increasing number of individuals embracing vegan and vegetarian lifestyles due to their concerns about animal welfare, personal health, and environmental sustainability. For these conscientious consumers, vegan cheese has emerged as a flavorful non-dairy substitute.
In October 2023, a significant development in the manufacture of vegan cheese was made in Denmark. In order to take use of the high protein content of peas and beans, scientists started a unique study utilizing conventional fermentation processes. This innovation promises to improve taste and texture while addressing the protein shortages frequently associated with vegan food. Consumers seeking top-tier dairy-free alternatives are poised to appreciate such developments in vegan cheese.
In a related effort to improve plant-based goods, a study examined the use of conventional fermentation techniques to mimic the flavor and texture of meat in plant-based substitutes. It was published in September 2023 in the Journal of Agricultural and Food Chemistry of the American Chemical Society. Even while it isn't directly related to vegan cheese, this research shows the vegan industry's dedication to improving sensory offerings, which indirectly supports the vegan cheese market.
The requirement for vegan cheese is predicted to increase at an unprecedented rate due to an increase in public knowledge of traditional dairy farming techniques. Market players continuously drive innovation in vegan cheese products by utilizing cutting-edge fermentation techniques and other cutting-edge strategies to accommodate a variety of palate preferences. The market for vegan cheese is expanding and offering consumers delicious and sustainable dairy-free options.
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Key Takeaways
- The soy-based cheese business will account for almost 2/5 of the worldwide market by the end of 2033.
- In terms of sales channel, the global market for plant-based cheese is most likely to be driven by retail sales.
- Over the following ten years, the U.S. plant-based cheese sales are anticipated to increase at a CAGR of over 10%.
- Through 2033, the need for plant-based cheese in China is anticipated to grow at a 14% CAGR.
- Over the coming ten years, the market for plant-based cheese in the UK is expected to grow at a 12% CAGR.
Driving Factors
Increasing Number of Vegan Cheese Products Available
Vegan cheese products are now much more widely available. To meet the growing demand, both restaurants and grocery shops are expanding their selection of vegan cheese options. In addition to making it simpler for consumers to include vegan cheese in their diets, this greater availability also helps to normalize plant-based options.
Raising awareness among consumers of the advantages to health and the environment
Consumers are becoming more and more aware of the advantages of vegan diets in terms of health. People are increasingly selecting vegan cheese as a more nutritious replacement for conventional dairy cheese as they become more aware of how their dietary decisions affect their overall health. Additionally, people are encouraged to choose vegan cheese by the environmental advantages of a plant-based diet, such as lowered emissions of greenhouse gases and water usage.
Restraining Factors
Challenges with Texture and Taste
It might be difficult to win over customers who prefer the flavor and dependability of dairy cheese products to vegan cheese alternatives. To be generally accepted, vegan products have to conquer sensory barriers; brand differences may also deter conversion.
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Growth Opportunities
New Approaches to Product Development
In every market, innovation is a major factor in market expansion. To meet the interests of a wide range of customers, vegan cheese producers should concentrate on ongoing product innovation. This entails creating fresh tastes, variants, and packaging designs. Additionally, incorporating unique ingredients and production techniques can distinguish a brand and greatly increase consumer interest.
Growing Popularity of Flexitarianism and Veganism
The prevalence of veganism and flexitarianism has significantly increased as a result of the public's increased knowledge of environmental and health issues. The Vegan Cheese Market may profit from this trend by providing a wide variety of inventive and delectable vegan cheese options as more consumers look for alternative sources of protein to dairy products. Companies should invest in marketing initiatives that highlight the advantages of vegan cheese, such as long-term viability animal welfare, and health benefits, in order to maximize growth in this sector.
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| Report Attribute | Details |
| Market Value (2022) | US$ 4.2 Billion |
| Market Size (2032) | US$ 8.0 Billion |
| CAGR (from 2023 to 2032) | 6.9% from 2023 to 2032 |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Regional Analysis
With significant development and innovation, the European region has become a leading force in the worldwide vegan cheese business. The fact that Europe is so dominant in this field is due to a number of factors.
First of all, there is a growing desire for plant-based alternatives among consumers in Europe. Consumers are looking for dairy-free alternatives, such as vegan cheese, due to concerns about their health, the environment, and animal welfare. A wide range of premium vegan cheese products have been produced as a result of the significant research and development investments made by food firms in Europe in response to this expanding demand.
Europe excels at producing vegan cheese, producing substitutes that accurately imitate cheese's flavor and texture. Consumer confidence is increased by the strict food regulations in the area, which also ensure proper labelling and transparency, therefore raising consumer confidence in the calibre of vegan cheese products.
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Segment Analysis
Demand for vegan cheese is increasing, especially for mozzarella, which has taken over as a key product category. This trend is being fueled by mozzarella's capacity to imitate the mild flavor and creamy texture of classic dairy mozzarella, making it appealing to people switching to plant-based diets. Its adaptability to a variety of cuisines, including pizzas and salads, furthers its appeal. More people are turning vegan as a result of the ethical and environmental issues surrounding the manufacturing of dairy products, which is raising the demand for vegan Mozzarella cheese. The vegan food products market, particularly in the food service sector, is being heavily impacted by this trend.
Almond Milk has become the most important source type in the competitive market for vegan cheese. Vegan cheeses made from almond milk have become increasingly popular as a result of their adaptability and growing popularity as a dairy milk alternative. It is a great choice for cheese manufacturing because of its bland flavor profile, which appeals to a wide range of consumers. Its mild flavor and creamy texture make it an ideal foundation for a variety of cheeses, from soft spreads to matured selections. Almond milk is regarded as a healthy substitute that is high in nutrients and low in saturated fats. This is in line with customers' increasing desire for nutrient-dense plant-based foods, which is what's causing the popularity and market dominance of vegan cheeses made with almond milk.
In by form type, the Blocks section of the vegan cheese market has recently seen significant growth. These blocks are excellent for a variety of cuisines because they can be simply sliced, shredded, or melted. This versatility attracts to both home chefs and industry specialists in the food service industry, driving market expansion. Additionally, vegan cheese blocks have done well in boosting the sensory qualities of regular cheese, which is something that consumers are increasingly looking for in plant-based substitutes. Due to their excellent flavor and texture, they are a preferred pick for people embracing a vegan or without lactose lifestyle.
With the trend toward plant-based diets, hypermarkets and supermarkets predominate among the distribution channels in the booming vegan cheese sector. These shops cater to a large consumer base with a variety of tastes and dietary needs by providing a convenient, diversified choice of vegan cheese options. Vegan cheese is easily available and reasonably priced in these places, and promotional deals also help to increase its popularity. The market's consistent growth, which reflects this segment's promising potential, is significant. Maintaining dominance in the vegan cheese market will need constant adaptation to changing consumer trends.
The Dairy & Desserts segment dominates the rapidly expanding vegan cheese market, indicating shifting consumer choices brought on by increased health consciousness, environmental awareness, and adoption of vegan diets. Vegan cheese is increasingly in demand for dairy and dessert applications because it blends in easily with traditional dairy-based recipes and offers a cruelty-free, sustainable alternative without sacrificing flavor or texture. This shift is being brought about not just by dietary requirements but also by environmental and ethical issues as customers look for solutions that are consistent with their values. A thorough examination highlights the significant role that vegan cheese plays in the food processing business, providing a wide variety of dairy substitutes to meet the evolving needs of the consumer.
Segments Covered in the Report
By Product Type
- Mozzarella
- Parmesan
- Cheddar
- Others (Cream Cheese and Ricotta)
By Source Type
- Almond Milk
- Soy Milk
- Coconut Milk
- Others (Cashew Milk, Peanut Milk, and Hazelnut)
By Form
- Blocks
- Shreds
- Wedges
- Slices
By Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Retail Stores
- Online Retailers
By Application
- Dairy and Desserts
- Baked Goods
- Snacks and Ready Meals
- Processed and Packed Foods
- Others (Food Service (Hotels, restaurants, Cafe, etc.) and Household)
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Competitive Landscape Analysis
Health-conscious consumers trust Daiya Foods Inc. for its extensive selection of premium plant-based cheese substitutes because of its high quality and variety. Cashew and macadamia nuts are used to make the quality, artisanal vegan cheeses for which Dr-Cow Tree Nut Cheese is known. To suit varied tastes, GreenSpace products Inc. provides a range of vegan cheese products. A significant company with extensive distribution and a dedication to sustainability, Maple Leaf Foods Inc. is in line with the demand for vegan cheese from those who value the environment.
Key Market Players
- Daiya Foods Inc.
- Dr-Cow Tree Nut Cheese
- Follow Your Heart, Inc.
- GreenSpace Brands Inc. (Galaxy Nutritional Foods, Inc.)
- Maple Leaf Foods Inc. (Field Roast Grain Meat Co., Inc.)
- Miyoko's Kitchen, Inc.
- Happy Cheeze GmbH
- Punk Rawk Labs, Inc.
- Bute Island Foods Ltd.
- Tofutti Brands, Inc.
- Wayfare Inc.
- Kite Hill
- Violife Foods
- Treeline Cheese
- Tofutti Brands, Inc.
- Tyne Cheese Limited
- Parmela Creamery
- Gardener Cheese Company
- Nush Foods
Recent Development
- In Oct 2023, Scientists in Denmark have been experimenting with a traditional fermentation process to turn peas and beans, which are naturally high in protein, into foundation for vegan cheese.
- A study published in September 2023's issue of the Journal of Agricultural and Food Chemistry of the American Chemical Society investigated the use of conventional fermentation to imitate the flavor and texture of meat in plant-based products.
- The new vegan Kraft NotCheese Slices were introduced in all 50 states of the United States in June 2023 by The Kraft Heinz Not Company in collaboration with Chile's The Not Company (NotCo). These vegan cheese slices come in American, Provolone, and Cheddar varieties.
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