Global Vegan Cheese Market Insights Forecasts to 2033

• The Global Vegan Cheese Market Size was Valued at USD 2.80 Billion in 2023
• The Market Size is Growing at a CAGR of 12.07% from 2023 to 2033
• The Worldwide Vegan Cheese Market Size is Expected to Reach USD 8.75 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Vegan Cheese Market Size is Anticipated to Exceed USD 8.75 Billion by 2033, Growing at a CAGR of 12.07% from 2023 to 2033.   

Market Overview

Vegans, who abstain from eating any animal products, are the primary consumers of vegan cheese, a non-dairy food item. It is thought to be high in protein and low in cholesterol. Vegan cheese comes in a variety of forms and from a variety of sources. Soaking tree nuts in water and fermenting the mixture is the most often used technique in forming vegan cheese. After being mixed and processed, these materials form a product that mimics cheese and can be melted, sliced, or grated. There are many different types of vegan's cheese available, such as spreads, slices, blocks, mozzarella, cheddar, paper jack, and feta. The demand for plant-based substitutes for conventional dairy products, such as cheese, is rising. Additionally, specialty shops, internet merchants, and general supermarkets all have a good selection of vegan cheese options. Consumer adoption is being sparked by the inventive and delectable vegan cheese-based recipes that chefs, food bloggers, and influencers are demonstrating. In addition, people's growing disposable incomes and the ease with which products can be found online are contributing to the positive global market outlook.

Report Coverage

This research report categorizes the market for the global vegan cheese market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global vegan cheese market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global vegan cheese market.

Driving Factors

The market for vegan cheese has grown as more people choose to follow a vegan lifestyle. The market for vegan cheese has expanded considerably as an increasing number of people decide to cut back or completely avoid consuming animal products. Additionally. The sector has seen a surge in innovation and product creation as an outcome of the increased demand for vegan cheese. A further factor driving market expansion is manufacture’s constant efforts to make vegan cheese products that closely match their dairy counterparts in terms of taste, texture, and meltability. The industry is growing due vegan cheese, being plant-based, has a much lower carbon footprint and less of an impact on the environment than typical dairy cheese.

Restraining Factors

There is a growing demand for vegan cheese, which puts strain on raw material sources including cashew, soy, coconut, and almond. This pressure poses a number of issues for the raw material producer. This makes it difficult to produce vegan cheese using raw materials, which may hinder the expansion of the industry. Still, the market can be hampered by the bulk of customers being unaware of the negative impacts of animal products.

Market Segmentation

The global vegan cheese market share is classified into product type, Source, application, and distribution channel.

• The mozzarella segment is expected to hold the largest share of the global vegan cheese market during the forecast period.   

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 forecast period. A versatile cheese, mozzarella is frequently used in pizzas, pasta dishes, salads, and sandwiches. It is a popular choice due to its mild flavor and flexible, melty feel. In response to this, there has been a surge in demand for vegan cheese that resembles mozzarella as people search for plant-based substitutes to enjoy these classic foods. Vegan pizza alternatives are becoming more and more common in pizzerias and foodservice outlets as plant-based diets gain popularity. Vegan cheese in the manner of mozzarella has grown to be an essential ingredient in tempting vegan pizza, increasing its market share and demand. 

• The cashew segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the source, the global vegan cheese market is categorized soy, almond, coconut, cashew, and others. Among these, the cashew segment is expected to grow at the fastest CAGR during the forecast period.  Cashews are a great component to add to vegan cheese to give it a smooth, decadent texture close to cheese due to its naturally creamy texture and rich, slightly sweet flavour.  Additionally, cashews make a simple base for vegan cheese because they are easily processed and blended. To generate a smooth and creamy texture akin to dairy cheese, they can be soaked and then blended with water or other plant-based components.

• The household segment is expected to hold the largest share of the global vegan cheese market during the forecast period.   

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 forecast period. Families and individuals are actively looking for vegan cheese as a dairy-free substitute as they transition to plant-based or vegan diets. The market demand for vegan cheese is influenced by the decisions made by households as a whole. Furthermore, people switch to plant-based diets and lifestyles for a variety of reasons, including ethical, environmental, and health-related ones. The market dominance of vegan cheese is being further enhanced by the demand for it from households that are concerned with animal welfare, the environment, and health.

• The supermarkets and hypermarkets segment are predicted to dominate the global vegan cheese market during the forecast period.

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 are predicted to dominate the global vegan cheese market during the forecast period. Plant-based and dairy-free alternatives, such as vegan cheeses, are frequently featured on special shelves or sections in these stores. Their extensive range of vegan cheese brands, flavours, and variants is made possible by their increased inventory and shelf space, which accommodates a wide range of consumer preferences. Additionally, they usually have several store locations, which increases the accessibility of vegan cheese for customers in various areas. Customers who want to take care of their grocery needs in a consolidated, conveniently accessible location will find this convenient. It saves time and effort by doing away with the need to visit several specialty stores.

Regional Segment Analysis of the Global Vegan Cheese Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is projected to hold the largest share of the global vegan cheese market over the forecast period.

Europe is projected to hold the largest share of the global vegan cheese market over the forecast period. Europe has witnessed an impressive rise in the demand for plant-based products, including vegan cheese. A growing number of European consumers are adopting plant-based diets and looking for alternatives to traditional dairy products because of ethical, environmental, and health-conscious reasons along with worries about animal welfare. The development and domination of vegan cheese in Europe are largely due to the existence of a well-established vegan market. Besides, Europe has seen a surge in dedicated vegan shops and online platforms that cater specifically to the growing desire for plant-based alternatives. It also has an extensive assortment of supermarkets, hypermarkets, and specialized shops that sell a variety of vegan goods, such as vegan cheese.

North America is expected to grow at the fastest CAGR growth of the global vegan cheese market during the forecast period. North American consumers are aggressively pursuing dairy-free products that are consistent with their moral and environmental principles, which is driving the market for vegan cheese in a variety of forms, including spreads, slices, and shreds. The North American market's openness to new food products, together with a strong retail network and reputable online shopping portals, has also contributed to the market expansion of vegan cheese. The market for vegan cheese is predicted to continue growing as demand for cruelty-free and environmentally friendly products grows in North America. Manufacturers and business owners will have plenty of opportunities to investigate and increase their market share in this rapidly developing sector.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global vegan cheese market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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 Market Developments

• In January 2022, Aldi U.K. introduced vegan cheese under the Plant Menu brand of the supermarket retailer.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

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