Global Vegan Cheese Market Size To Exceed $ 8.75 Billion By 2033 | CAGR Of 12.7%
Category: Food & BeveragesGlobal Vegan Cheese Market Size To Exceed $ 8.75 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Vegan Cheese Market Size Expected to Grow from USD 2.80 Billion in 2023 to USD 8.75 Billion by 2033, at a CAGR of 12.07% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 210 pages with 120 Market data tables and figures & charts from the report on the "Global Vegan Cheese Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Mozzarella, Cheddar, Parmesan, Ricotta, Cream, Others), By Source (Soy, Almond, Coconut, Cashew, Others), By Application (Household, Food Processing, Foodservice, and Others), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Stores, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.'' Get Detailed Report Description Here https://www.sphericalinsights.com/reports/vegan-cheese-market
Vegan cheese is a non-dairy food item that is mostly consumed by vegans, who refrain from consuming any animal products. It's said to be low in cholesterol and high in protein. There are many different types and sources of vegan cheese. The most popular method for making vegan cheese involves soaking tree nuts in water and then fermenting the resulting combination. These ingredients are combined and processed to create a product that resembles cheese and can be grated, melted, or sliced. Vegan cheese comes in a wide variety of forms, including spreads, slices, blocks, paper jack, mozzarella, and feta. Additionally, the sector has seen a surge in innovation and product creation as a result of the increased demand for vegan cheese. A further factor driving market expansion is manufacturers' constant efforts to make vegan cheese products that closely match their dairy counterparts in terms of taste, texture, and reliability. However, demand for vegan cheese is rising, placing pressure on cashew, soy, coconut, and almond sources of raw materials. For the producer of raw materials, this pressure presents a variety of issues. This makes it more difficult to produce vegan cheese using raw resources, which could hamper the expansion of the industry.
- The mozzarella segment is expected to hold the largest share of the global vegan cheese market during the anticipation timeframe.
Based on the product type, the global vegan cheese market is categorized into mozzarella, cheddar, parmesan, ricotta, cream, and others. Among these, the mozzarella segment is expected to hold the largest share of the global vegan cheese market during the anticipation timeframe. Mozzarella is a versatile cheese that's commonly found in salads, sandwiches, pasta dishes, and pizzas. Its flexible, melty texture and mild flavour make it a popular choice. As a consequence, there has been a sharp increase in demand for vegan mozzarella-like cheese as consumers look for plant-based alternatives to enjoy these traditional dishes.
- The cashew segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the source, the global vegan cheese market is categorized as soy, almond, coconut, cashew, and others. Among these, the cashew segment is expected to grow at the fastest CAGR during the anticipation timeframe. With their naturally creamy texture and rich, somewhat sweet flavour, cashews are a perfect addition to vegan cheese to give it a smooth, luscious texture that is similar to cheese. Cashews are also easily processed and blended, making them a simple base for vegan cheese.
The household segment is expected to hold the largest share of the global vegan cheese market during the anticipation timeframe.
Based on the application, the global vegan cheese market is categorized into household, food processing, foodservice, and others. Among these, the household segment is expected to hold a significant share of the global vegan cheese market during the anticipation timeframe. As more people switch to plant-based or vegan diets, families and individuals are actively searching for vegan cheese as a dairy-free alternative. In addition, there are several reasons why people adopt plant-based diets and lifestyles, such as ethical, environmental, and health-related ones.
The supermarkets and hypermarkets segment is predicted to dominate the global vegan cheese market during the anticipation timeframe.
Based on the distribution channel, the global vegan cheese market is categorized into supermarkets and hypermarkets, convenience stores, online stores, and others. Among these, the supermarkets and hypermarkets segment is predicted to dominate the global vegan cheese market during the anticipation timeframe. Vegan cheeses and other plant-based and dairy-free substitutes are regularly displayed on dedicated shelves or sections in these establishments. Furthermore, they typically have many store locations, making vegan cheese more accessible to clients in different locales. This is useful for customers who want to take care of all of their grocery needs in one easily accessible spot. It eliminates the need to visit multiple specialty retailers, saving time and effort.
Europe is projected to hold the largest share of the global vegan cheese market over the anticipation timeframe.
Get more details on this report -
Europe is projected to hold the largest share of the global vegan cheese market over the anticipation timeframe. Demand for plant-based goods, such as vegan cheese, has increased majorly throughout Europe. Concerns over animal welfare, ethical issues, the environment, and health are driving an increasing number of European consumers to adopt plant-based diets and search for dairy substitutes. The presence of a thriving vegan market has played an important part in the growth and dominance of vegan cheese in Europe.
North America is expected to grow at the fastest CAGR growth of the global vegan cheese market during the anticipation timeframe. It is expected that the market for vegan cheese will keep expanding in tandem with North America's growing desire for cruelty-free and ecologically friendly goods. In this quickly expanding industry, manufacturers and business owners will have plenty of opportunities to learn more and grow their market share.
Major vendors in the global vegan cheese market are Upfield B.V., Bute Island Foods Ltd, Tofutti Brands, Inc., Tyne Chease Limited, Miyoko's Kitchen, Parmela Creamery, Treeline Cheese, Danone S.A., Daiya Foods Inc., Kite Hill, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In January 2022, Aldi U.K. introduced vegan cheese under the Plant Menu brand of the supermarket retailer.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global vegan cheese market based on the below-mentioned segments:
Global Vegan Cheese Market, By Product Type
- Mozzarella
- Cheddar
- Parmesan
- Ricotta
- Cream
- Others
Global Vegan Cheese Market, By Source
- Soy
- Almond
- Coconut
- Cashew
- Others
Global Vegan Cheese Market, By Application
- Household
- Food Processing
- Foodservice
- Others
Global Vegan Cheese Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Global Vegan Cheese Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?