India Vegan Cheese Market Analysis and Forecast 2019-2028
$2,380.00 – $4,800.00
India Vegan Cheese Market is Growing Significantly due to Shifting Consumers Preference Coupled with the Adoption of the Western Lifestyle
India vegan cheese market is anticipated to gain a strong growth rate of 15.3% during the forecast period 2022-2028. India is one of the most consuming vegan cheese countries across the globe. A shift in consumption patterns, increasing demand for plant-based dairy products, rise in disposable income, and increasing adoption of the western lifestyle are some of the key factors expected to fuel the demand for vegan cheese in India.
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.
Vegan Cheese is Hitting Grocery Shelves; Offline Channel to Play a Pivotal Role
The rise of veganism and plant-based diets is causing a rapid change in the food sector. Numerous dairy substitutes have entered the market in recent years. Since vegan cheese is now widely accessible, “clean” labeling is quickly becoming more popular. Soy, almond, cashew, and other nut-based components are generally used to make vegan or plant-based cheese. It mostly consists of fermented cheese and cheese analogues (produced from plant-based starch and oil – made from nuts).
Although there is a limited selection of plant-based cheese in India compared to dairy cheese, it is nonetheless available. This scenario is, nevertheless, evolving. The hospitality and food service industry is playing a big role in the expansion of the vegan cheese business by offering vegan meals on its menus. Due to the rising demand, more businesses have been experimenting with and creating novel cheese alternatives.
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Market Structure and Competitive Landscape
India’s vegan cheese market is fragmented in nature with the presence of various players in the market. Some of the key players operating in the Indian vegan cheese market include Live Yum Foods, Bombaycheesecompany, Urban Platter, Cowvathi, Goodmylk, Vegandukan, Vvegano, ICL Speciality Products Inc., Arivia, BlacjLiving Foods, and Anata India among others.
Manufacturers and key plant-based cheese brands are focusing on innovations, mergers and acquisitions, partnerships, and collaborations which directly result in propelling the growth of the Indian vegan cheese market.
- In March 2022, India’s Goodmylk announced its acquisition of the nutrition brand PRO2FIT. The acquisition of PRO2FIT signifies maturity in the emerging Indian alt protein sector. Both brands saw synergies in their missions to make plant-based food and nutrition accessible to all.
- In January 2020, Plant-based butter and spreads producer Upfield Group announced its acquisition of dairy-free cheese manufacturer Arivia. As a result of this strategic acquisition, Arivia and its VIOLIFE brand will become part of the Upfield Group of companies and join its household names, including Flora, Rama, Country Crock, Blue Band, and Proactiv.
Also explore insights on Global Vegan Cheese Market
Key Market Segmentation
RationalStat has segmented the India 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
- Commercial
- 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
- North India
- West and Central India
- South India
- East India
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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.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases 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 India vegan cheese manufacturers, government organizations, HoReCa industry players, dairy producers, dairy brands, 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 India vegan cheese market is expected to grow at a CAGR of 15.3% during the forecast period 2022-2028.
The adoption of western culture and shifting consumer preference towards vegan cheese are the key drivers of the India vegan cheese market.
The India vegan cheese market is estimated at around US$ 20 million in 2021.
Major companies operating in the India vegan cheese market include Live Yum Foods, Bombay Cheese Company, Urban Platter, Cowvathi, Goodmylk, Vegandukan, Vvegano, etc.
| REGION | India |
|---|---|
| RELEASE YEAR | 2022 |
| RESEARCH CODE | RST-SAR-095 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. India and Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.1.1. India GDP Overview
6.1.2. India Population Overview
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. Latest Funding in the Vegan Cheese Market
8.1. Funding Scenarios by Type (2017-2022)
8.2. New Start-ups by City
8.3. Distribution Channel and Leading End Users
9. India and Regional Market Dynamics
9.1. Drivers
9.2. Restraints
9.3. Trends
9.4. Opportunities
10. India Vegan Cheese Market: Technology Assessment
Robust assessment of key technologies incorporated during the production of various types of vegan Cheese that are commercialized in the marketplace
11. Trade Analysis (2019-2022)
11.1. Export Data by Volume (in tons) and by Value (in US$ Million)
11.1.1. Leading Destinations
11.1.2. Leading Partners
11.2. Import Data by Volume (in tons) and by Value (in US$ Million)
11.2.1. Leading Origins
11.2.2. Leading Partners
12. Pricing Analysis
12.1. By Cheese Type
12.1.1. Mozzarella
12.1.2. Parmesan
12.1.3. Cheddar
12.1.4. Cream Cheese
12.1.5. Ricotta
12.1.6. Others (Gouda, Pepper Jack, etc.)
12.2. By Region
12.2.1. North India
12.2.2. West and Central India
12.2.3. East India
12.2.4. South India
13. Parent Market Overview:
13.1. India Dairy Market Forecast and Analysis
13.2. India Plant-Based Dairy Alternatives Market Overview
14. Segmental Analysis
14.1. India Vegan Cheese Market by Cheese Type
14.1.1. Mozzarella
14.1.2. Parmesan
14.1.3. Cheddar
14.1.4. Cream Cheese
14.1.5. Ricotta
14.1.6. Others (Gouda, Pepper Jack, etc.)
14.2. India Vegan Cheese Market by Source
14.2.1. Almond Milk
14.2.2. Coconut Milk
14.2.3. Soy Milk
14.2.4. Cashew Milk
14.2.5. Others (Pine Nuts, Hazelnut, etc.)
14.3. India Vegan Cheese Market by Form
14.3.1. Blocks
14.3.2. Slices
14.3.3. Shredded
14.3.4. Others (Spreads, Cubes, etc.)
14.4. India Vegan Cheese Market by End User
14.4.1. Personal, Household, and Residential
14.4.2. Commercial
14.4.2.1. Retail
14.4.2.2. HoReCa
14.4.2.3. Food Processing
14.5. India Vegan Cheese Market by Application
14.5.1. Fast Food Snacks
14.5.2. Baked Goods
14.5.3. Processed and Packed Food
14.5.4. Dairy and Desert
14.5.5. Dips and Sauces
14.5.6. Dressing
14.6. India Vegan Cheese Market by Sales Channel
14.6.1. Offline
14.6.1.1. Hypermarkets/supermarkets
14.6.1.2. Retail Stores
14.6.2. Online/Ecommerce
14.7. India Vegan Cheese Market by Region
14.7.1. North India
14.7.2. West and Central India
14.7.3. East India
14.7.4. South India
14.7.5. Asia Pacific
14.7.6. Middle East & Africa
15. Regional Analysis
15.1. North India Vegan Cheese Market Analysis and Forecast 2019-2028
15.1.1. Regional Market Overview and Key Takeaways
15.1.2. North India Vegan Cheese Market by Cheese Type
15.1.3. North India Vegan Cheese Market by Source
15.1.4. North India Vegan Cheese Market by Form
15.1.5. North India Vegan Cheese Market by End User
15.1.6. North India Vegan Cheese Market by Application
15.1.7. North India Vegan Cheese Market by Sales Channel
15.2. East India Vegan Cheese Market Analysis and Forecast 2019-2028
15.2.1. Regional Market Overview and Key Takeaways
15.2.2. East India Vegan Cheese Market by Cheese Type
15.2.3. East India Vegan Cheese Market by Source
15.2.4. East India Vegan Cheese Market by Form
15.2.5. East India Vegan Cheese Market by End User
15.2.6. East India Vegan Cheese Market by Application
15.2.7. East India Vegan Cheese Market by Sales Channel
15.3. South India Vegan Cheese Market Analysis and Forecast 2019-2028
15.3.1. Regional Market Overview and Key Takeaways
15.3.2. South India Vegan Cheese Market by Cheese Type
15.3.3. South India Vegan Cheese Market by Source
15.3.4. South India Vegan Cheese Market by Form
15.3.5. South India Vegan Cheese Market by End User
15.3.6. South India Vegan Cheese Market by Application
15.3.7. South India Vegan Cheese Market by Sales Channel
15.4. West and Central India Vegan Cheese Market Analysis and Forecast 2019-2028
15.4.1. Regional Market Overview and Key Takeaways
15.4.2. West and Central India Vegan Cheese Market by Cheese Type
15.4.3. West and Central India Vegan Cheese Market by Source
15.4.4. West and Central India Vegan Cheese Market by Form
15.4.5. West and Central India Vegan Cheese Market by End User
15.4.6. West and Central India Vegan Cheese Market by Application
15.4.7. West and Central India Vegan Cheese Market by Sales Channel
16. Competitive Landscape
16.1. Competition Dashboard
16.1.1. India and Regional Market Share Analysis
16.1.2. Market Structure
16.2. Competitive Benchmarking
16.3. Key Strategy Analysis
16.4. Company Profiles
16.4.1. Live Yum Foods
16.4.1.1. Company Overview
16.4.1.2. Product/Service Offerings
16.4.1.3. Financials
16.4.1.4. Recent Developments
16.4.2. Bombaycheesecompany
16.4.2.1. Company Overview
16.4.2.2. Product/Service Offerings
16.4.2.3. Key Financials
16.4.2.4. Recent Developments
16.4.3. Urban Platter
16.4.3.1. Company Overview
16.4.3.2. Product/Service Offerings
16.4.3.3. Key Financials
16.4.3.4. Recent Developments
16.4.4. Cowvathi
16.4.4.1. Company Overview
16.4.4.2. Product/Service Offerings
16.4.4.3. Financials
16.4.4.4. Recent Developments
16.4.5. Goodmylk
16.4.5.1. Company Overview
16.4.5.2. Product/Service Offerings
16.4.5.3. Financials
16.4.5.4. Recent Developments
16.4.6. Vegandukan
16.4.6.1. Company Overview
16.4.6.2. Product/Service Offerings
16.4.6.3. Financials
16.4.6.4. Recent Developments
16.4.7. Vvegano
16.4.7.1. Company Overview
16.4.7.2. Product/Service Offerings
16.4.7.3. Financials
16.4.7.4. Recent Developments
16.4.8. ICL Specialty Products Inc.
16.4.8.1. Company Overview
16.4.8.2. Product/Service Offerings
16.4.8.3. Financials
16.4.8.4. Recent Developments
16.4.9. Living Food
16.4.9.1. Company Overview
16.4.9.2. Product/Service Offerings
16.4.9.3. Financials
16.4.9.4. Recent Developments
16.4.10. Anata India
16.4.10.1. Company Overview
16.4.10.2. Product/Service Offerings
16.4.10.3. Financials
16.4.10.4. Recent Developments
17. Disclaimer
Every Sample Includes
Research Methodology
Complete Table of Contents, List of Charts and Tables
Exclusive Facts & Illustrations
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