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Vegan Cheese Market 2022 SWOT Analysis by Players Continues Explosive Growth by 2028

Vegan Cheese

Market Overview:

Vegan Cheese Market size is projected to reach USD 4.63 billion by 2028 from an estimated USD 1.92 billion in 2021, growing at a CAGR of 13.4% globally.

Non-dairy cheese was first created with fermented tofu or whole soy in China in the 16th century. Vegan cheese refers to dairy-free, plant-based cheese alternatives. Vegan cheeses range from soft fresh cheeses to hard grateable cheeses that have been matured and cultured, such as plant-based Parmesan. The absence of all animal products is the distinguishing feature of vegan cheese. Vegan cheese can be manufactured with proteins, lipids, and milks generated from plants (plant milks). It can also be made using sesame, sunflower, and sunflower seeds, as well as nuts (cashew, pine nut, peanuts, and almonds) and soybeans; other components include coconut oil, nutritional yeast, tapioca, rice, potatoes, and spices.

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The increased acceptability of veganism, particularly among millennials, has spurred business growth. As people become more conscious of animal cruelty and the dairy industry’s terrible environmental consequences, they are increasingly opting for plant-based foods. The epidemic of COVID-19 has brought some respite to the market, as people all across the world have taken a renewed interest in home cooking.

Major Key Players for Vegan Cheese Market:

  • UPrise Foods
  • Daiya Foods
  • Parmela Creamery
  • Tyne Cheese Limited
  • Good Planet Foods
  • Follow Your Heart
  • Galaxy Nutritional Foods Inc.
  • Violife Foods
  • Mad Millie
  • Field Roast Grain Meat Co.
  • Nush
  • Go Veggie
  • Vtopian Artisan Cheese Company
  • Kite Hill
  • Feel Foods Ltd.
  • Tesco
  • Miyoko’s Kitchen Company
  • Vermont Farmstead Company

Market Dynamics and Factors:

Consumers’ willingness to spend money on plant-based foods has increased considerably in recent years. Furthermore, there has been a constant increase in demand for food alternatives. Vegan cheese manufacturers promote and encourage people to absorb essential nutrients from plant-based foods. Changes in the food sector, as well as changes in consumer habits, are driving the vegan cheese market forward.

Furthermore, rising personal disposable income, changing tastes and preferences, and increased acceptance of the western lifestyle are all driving the vegan cheese industry forward. An increase in the global vegan population, as well as growing concerns about animal safety and health, are further market growth variables. Manufacturers’ increased focus on unique product offers, along with tighter restrictions on animal-based foods, will give the industry even more profit possibilities.

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Vegan Cheese Market Report Highlight:

  • By type, over the forecast period, the Mozzarella segment is estimated to account for the biggest vegan cheese market share.
  • Over the projected period, the household/retail segment is expected to have the largest vegan cheese market share. Increased demand for vegan cheese in the household segment has been aided by rising consumer disposable income levels and a propensity to spend on premium items.
  • The organic segment, by definition, is expected to have the largest market share during the projection period. Because people are becoming more interested in plant-based foods and organic products.
  • By distribution channels the vegan cheese industry is divided into direct sales, indirect sales, specialty retail stores, regular grocery stores, hypermarkets/supermarkets, convenience stores, and online retailers.
  • During the projected period, North America is expected to dominate the vegan cheese market. This is due to a growing awareness of animal cruelty as a result of active vegan outreach in the region, as well as a growing awareness of veganism as a healthy lifestyle.

Key Industry Development:

  • Upfield launched Violife, a vegan cheese brand in the Middle East, in July 2021. The brand is a dairy-free, allergen-free replacement that comes in slices, cartons, and shredded form in two flavors: cheddar and mozzarella.
  • Treeline Cheese debuted a plant-based cream cheese line in March 2020, made with cultivated cashew nuts and other plant-based components. Plain, chive and onion, and strawberry are the three flavors available.

Vegan Cheese Market Segmentation:

By Product Type

  • Mozzarella
  • Gouda
  • Parmesan
  • Cheddar
  • Cream Cheese
  • Ricotta

By Product Form

  • Shreds
  • Blocks and Wedges
  • Slices

By Source

  • Almond Milk
  • Coconut Milk
  • Cashew Milk
  • Soy Milk
  • Pine Nuts
  • Hazelnut
  • Others

By Flavor

  • Regular
  • Flavored

By Nature

  • Conventional
  • Organic

By End User

  • Food Industry
  • Food Service
  • Household/Retail

By Distribution Channel

  • Direct Sales
  • Indirect Sales
  • Specialty Retail Stores
  • Traditional Grocery Stores
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online Retailers

For this report, Introspective Market Research has segmented the Vegan Cheese Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Turkey
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Iran
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of LATAM

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Scope of the Report:

The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Vegan Cheese Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.

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Report Published by Introspective Market Research 2022:

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