Email
Print
World Vegan Cheese Market Overview
World Vegan Cheese Market size is forecast to
reach $3.8 billion by 2026, growing at a CAGR of 13.1% during the forecast
period 2021-2026. Vegan cheese is one of the major dairy alternatives owing to
its primary constituents being plant-based milk sources like coconut, almond,
peanut and oat milk, among others. With the growing advent of veganism all
across the globe, consumers have been focusing increasingly on the adoption of
vegan cheese options like mozzarella cheese, cheese analogues and plant-based parmesan
in their meal plans, which is the key driver of the market. Additionally, in
the recent past, there has been a constant rise in the voice of consumers against
animal slaughtering, animal cruelty and the negative impacts on the environment
caused by the dairy industry, which is hurting the ethical sentiments, thereby
motivating consumers to turn to vegan options for their living. Furthermore,
people who are lactose intolerant are the primary consumers of this industry
which is set to further enhance the overall market developments of the World Vegan
Cheese Market for the period 2021-2026.
Report Coverage
The report: “World Vegan Cheese Market Forecast (2021-2026)”, by Industry ARC, covers an
in-depth analysis of the following segments of the World Vegan
Cheese Market.
By Product
Type: Mozzarella, Cheddar, Parmesan, Ricotta, and Cream
By Source: Soy, Almond,
Coconut, Cashew, and Others
By
End User: Household, Food Processing, and Food Service
By Geography: North America
(U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy,
Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South
Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America
(Brazil, Argentina, and Rest of South America), and Rest of the World (Middle
East, and Africa)
Key Takeaways
- Europe dominated the World Vegan Cheese Market in 2020 owing to the enormous consumer base in the
region, specifically Germany and the U.K. The World Vegan
Cheese Market scope for different regions will be provided
in the final report.
- Growing inclination towards vegan
and flexitarian diet coupled with the high nutritive content of vegan cheese are
likely to aid the market growth of the World Vegan Cheese Market report.
- Detailed analysis of the
Strength, Weakness, and Opportunities of the prominent players operating in the
market will be World
Vegan Cheese Market report.
- The lack of taste and resemblance
in texture, when compared to cheese derived from animal dairy, is poised to
create the hurdles for the World
Vegan Cheese Market.
World Vegan Cheese Market Revenue Share, By Geography, 2020(%)
For more details on this report - Request for Sample
World Vegan Cheese Market Segment Analysis – By Product Type
Mozzarella segment held the largest share in the World
Vegan Cheese Market in 2020 and is estimated to grow at a CAGR 12.6% during the
forecast period 2021-2026. This is owing to the extensive usage of mozzarella
cheese in a wide range of recipes throughout household and food service
industry, across all the major economies. Mozzarella comes in multiple forms
namely cube, slice, shred and block which is used in recipes like pasta,
lasagne, risotto, pizzas and salads, in all of its possible forms. Healthier
versions of mozzarella is slowly gaining traction and is likely to bolster the
segment’s growth. Manufacturers like Green Vie Foods launched vegan mozzarella
cheese in 2020, which is supposedly gluten-free. On the other hand, ricotta
cheese is also penetrating the market at a progressive pace owing to its
extensive usage in pizza toppings, deserts and appetizers. Ricotta segment is estimated
to register the higher CAGR over the period 2021-2026.
World Vegan Cheese Market Segment Analysis – By End User
Household segment held the largest share in the World
Vegan Cheese Market in 2020 and is estimated to grow at a CAGR 12.0% during the
forecast period 2021-2026. This is owing to the rising household income across
all the economies, inclination to spend on healthier and premium options for
diet and increasing awareness regarding animal cruelty. Moreover vegan cheese
options are readily available in convenience stores and supermarkets which is
making buying options convenient for residential purposes. However, with
veganism gaining traction across the globe, many restaurant chains, fast food
outlets and casual diners have started incorporating vegan options in their
recipes, in which vegan cheese is one of the primary constituents. Food service
segment is estimated to register the higher CAGR over the period 2021-2026.
World Vegan Cheese Market Segment Analysis – By Geography
Europe dominated the World Vegan Cheese Market with a major share of 34.9% in 2020. This is attributed
to the enormous consumer base across two specific regions namely Germany and
the U.K., which are supposedly the largest consumers of plant-based cheese. Moreover,
the usage of vegan cheese especially in the form of mozzarella and ricotta for
various recipes including deserts, is bolstering the growth of the market in
this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the changing consumer behaviour pertaining to eating habits throughout the region. Growing awareness regarding the health benefits associated with the consumption of vegan cheese and negative side effects from over consumption of animal dairy is also increasing the growth of the market in this region.
World Vegan Cheese Market Drivers
Growing adoption of vegan and flexitarian diet is augmenting the market growth
Over the recent past, there has been a wide base of consumers who have been turning to veganism. This can be attributed to a lot of reasons, the primary of which is the negative effects on health, mainly lactose intolerance with prolonged consumption of animal based dairy products. According to Physicians Committee for Responsible Medicine (PCRM), with age, people lose the enzymes that break down lactose, which leads to upset stomach, diarrhoea, and gas. It is currently affecting around 95% Asian Americans, 74% Native Americans, 70% African Americans, 53% Mexican Americans, and 15% Caucasians. Hence, the adoption of vegan cheese is gaining traction across the globe. Additionally, rising concern regarding animal cruelty like painful inflammation of the mammary glands in cows, are motivating consumers to turn to vegan diet at the earliest. Thus, increasing the growth of the World Vegan Cheese Market during the forecast period 2021-2026.
Vegan cheese being equally nutritive compared to animal cheese, is perceived as healthy option thus set to drive the market growth
World Vegan Cheese Market Challenges
Lack of taste and texture in vegan cheese is impeding the market growth
Some of the
factors that are set to impede the growth of the World Vegan Cheese Market
owing to the fact that Vegan Cheese lacks significantly when it comes to taste
and texture when compared to cheese derived from animal dairy. Dairy proteins
contain casein micelles which helps to impart functionality by providing
structure and emulsification. The aforesaid compounds when removed makes cheese
less mouthful, which is the case for vegan cheese. This is likely to impede the
growth of the market during the forecast period 2021-2026.
World Vegan Cheese Market Landscape
Product
launches, mergers and acquisitions, joint ventures, and R&D activities are
key strategies adopted by players in the World Vegan Cheese Market. In 2020, the World Vegan Cheese Market share is fragmented by the top ten
players present in the market. The World Vegan Cheese Market, top 10 companies are:
- Tofutti Brands, Inc.
- Violife
- Gardener Cheese Company
- DAIYA FOODS INC.
- Kite
Hill
- Tyne Chease Limited
- Dr-Cow Tree Nut Cheese
- VTOPIAN
ARTISAN CHEESES
- Miyoko's Creamery
- Parmela Creamery
Relevant Titles:
Report Code: FBR 0063
Report Code: FBR 0064
For more Food and Beverage Market related reports, please click here
LIST OF TABLES
LIST OF FIGURES