The Global Vegan Cheese Market is expected to grow at a strong rate of 13.1% during the forecast period 2022-2028 and stood at US$ 2.1 billion in 2019 and rose to US$ 2.7 billion in 2021. The market is primarily driven by the growing vegan culture across the globe as a considerable population is moving towards a plant-based diet. 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.
Moreover, the food service industry has been considerably contributing to the growth of the vegan cheese market as hotels, restaurants, and fast-food outlets are labeling their products with vegan cheese and also serving food with vegan cheese as appetizers. Lactose-indolent and dairy-allergic people are increasingly inclined towards plant-based cheese.
Mozzarella Cheese Hold More Than 1/3rd of the Total Market’s Share
Vegan mozzarella cheese, which is a part of the product portfolio of leading brands, held the largest revenue share in the plant-based cheese category in 2022 and is expected to maintain its dominance followed by parmesan type, creating a window of opportunity for plant-based vegan cheese manufacturers. Mozzarella is frequently used 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. However, Plant-based Ricotta is expected to grow at a prominent rate, with a CAGR of more than 16% during the forecast period.
Europe is Dominating the Market due to Increasing Vegetarian Population and Increasing Concern about Animal Welfare
The European region is dominating the global vegan cheese market with a total share of over 47% with the leading vegan cheese-consuming countries being Germany (27%) and the UK (18%). European consumers have high purchasing power allows them to spend on expensive high-end plant-based food products and vegan cheese. The Asia Pacific has seen sharp growth for vegan cheese in China, Japan, Korea, and also India, and Australia as a large number of consumers are becoming health conscious and boosting the demand for vegan products and cheese.
The North American cheese industry holds significant potential for vegan or plant-based cheese to grow at a rapid pace. Mozzarella cheese is the most popular vegan cheese in the North American market. Its mild-to-mellow flavor makes it perfect for snacking, slicing, or melting on Mexican dishes. In Latin America and MEA, the market is estimated to grow at a strong rate owing to the changing preference of consumers towards vegan cheese.
Market Structure and Competitive Landscape
The global vegan cheese market is fragmented in nature with the presence of various players in the market. Some of the key players operating in the global market include Daiya Foods Inc, Follow Your Heart, Miyoko’s Creamery, Violife Foods, Treeline Cheese, Field Roast, Kite Hill, So Delicious Dairy Free, Turtle Mountain, LLC, Good Planet Foods, Misha’s Kind Foods, Nuts For Cheese, Parmela Creamery, DMK Group, JAY&JOY, Mondarella GmbH, Dr. Mannah’s, Yogan Creamery, Mommus Foods SL, New Roots Vegan Creamery, Stockeld Dreamery, Applewood Vegan Cheese, Tyne Chease Limited, I AM NUT OK, Bute Island Sheese, Rosie and Riffy, and Simply V E.V.A GmbH among others.
Manufacturers and key players are focusing on product innovations and partnerships with leading restaurants. The players strive to adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global vegan cheese market.
- In January 2022, Daiya Food Inc. announced the sales and distribution partnership with Hyundai Green Food providing 15 dairy-free foods to retail and food service partners in South Korea. This deal will cater to the need of the 1.5 million South Korean population who pursue plant-based diets.
- In November 2021, Follow Your Heart, launched its first vegan Mac and Cheese, in two variants, Cheesy Carrot, and Creamy Caulifredo.
Key Market Segmentation
RationalStat has segmented the global vegan cheese market on the basis of cheese type, source, form, end user, application, sales channel, and region.
- By Cheese Type
- Cream Cheese
- Others (Gouda, Pepper Jack, etc.)
- By Source
- Almond Milk
- Coconut Milk
- Soy Milk
- Cashew Milk
- Others (Pine Nuts, Hazelnuts, etc.)
- By Form
- Others (Spreads, Cubes, etc.)
- By End User
- Personal, Household, and Residential
- Food Processing
- By Application
- Fast Food Snacks
- Baked Goods
- Processed and Packed Food
- Dairy and Desert
- Dips and Sauces
- By Sales Channel
- Retail Stores
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for global vegan cheese manufacturers, government organizations, HoReCa industry players, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global vegan cheese market is expected to grow at a CAGR of 13.1% during the forecast period 2022-2028.
Europe is dominating the global vegan cheese market in 2021.
The global vegan cheese market is estimated at around US$ 2.7 billion in 2021.
Growing vegan culture is the key trend of the global vegan cheese market.
Major companies operating in the global vegan cheese market include Daiya Foods Inc., Follow Your Heart, Miyoko’s Creamery, Violife Foods, Treeline Cheese, Field Roast, Kite Hill, So Delicious Dairy Free, etc.