The Global Vegan Cheese Market size is expected to reach $3.3 billion by 2026, rising at a market growth of 22.3% CAGR during the forecast period. The growing adoption of veganism among people, particularly among young people, has been boosting market development over the world. Rising awareness about cruelty on animals and the negative effects on the climate caused by the dairy business has supported consumers to adopt plant-based items. Subsequently, manufacturers have been offering a wide scope of plant-based dairy options, including vegan cheese, which is getting rack space in retail stores around the world. Individuals who are intolerant to lactose are one of the significant consumers in the industry.
Inside the vegan cheese market, R&D is important for market development. In spite of the fact that the sales of vegan cheese keep on developing at a great rate, especially in Europe and North America, the vegan cheese market is playing the catch-up game with other plant-based food areas, including meat and milk. Notwithstanding, as the competition in the current vegan cheese market landscape keeps on growing, a few organizations are progressively putting resourcing in R&D to effectively imitate the perplexing function and flavor profiles of cheese.
Despite the fact that vegan cheese is steadily crossing over to the mainstream, modern age consumers are more careful about the quality and nourishing substance of the items. In this manner, research and development initiatives are going all out to mimic the properties of traditional cheese. As plant-based food items keep on increasing extensive prevalence, the demand for vegan cheese is anticipated to observe eminent development in the forthcoming years.
Veganism is turning into a mainstream, which is a key factor empowering the growth of the market. With an expanding number of individuals across Europe and other developed areas is opting vegan diet, the demand for vegan cheese is anticipated to increment extensively in the next few years. Indeed, even in emerging countries, the demand for vegan food items has unfathomably expanded. This is anticipated to reinforce development possibilities for the market. The development will be additionally supported by the expanding demand for items derived from natural sources.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 1.1 Billion |
| Market size forecast in 2026 | USD 3.3 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 22.3% from 2020 to 2026 |
| Number of Pages | 199 |
| Number of Tables | 390 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | End Use, Source, Product, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Vegan Cheese Market to reach a market size of $3.3 Billion by 2026
Based on End Use, the market is segmented into Household, Food Service Sector and Food Sectors. Based on Source, the market is segmented into Soy Milk, Almond Milk, Rice Milk and Others. Based on Product, the market is segmented into Mozzarella, Cheddar, Parmesan, Gouda, Pepper Jack and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tofutti Brands, Inc., Upfield Holdings B.V. (KKR & Co., Inc.) (Violife), Dr-Cow Tree Nut Cheese, Daiya Food, Inc. (Otsuka Pharmaceutical), Kite Hill (Lyrical foods, Inc.), Miyoko's Creamery, Parmela Creamery’s, Good PLANeT Foods LLC, Galaxy Foods, Inc. (GreenSpace Brands), and Vtopian Artisan Cheeses.
Market Segmentation:
By End-Use
By Source
By Product
By Geography
Companies Profiled
The vegan cheese market size is projected to reach USD 3.3 billion by 2026.
There are several reason that cause high demand of this market one of them is increasing awareness about health benefits of vegan vheese will boost sales.
The Asia Pacific is anticipated to observe the highest development during the forecast period with a significant CAGR from 2020 to 2026.
The Mozzarella held the biggest revenue share in 2019. Its broad application in different recipes bolsters the development of the product segment.
The expected CAGR of vegan cheese market is 22.3% from 2020 to 2026.
Tofutti Brands, Inc., Upfield Holdings B.V. (KKR & Co., Inc.) (Violife), Dr-Cow Tree Nut Cheese, Daiya Food, Inc. (Otsuka Pharmaceutical), Kite Hill (Lyrical foods, Inc.), Miyoko's Creamery, Parmela Creamery’s, Good PLANeT Foods LLC, Galaxy Foods, Inc. (GreenSpace Brands), and Vtopian Artisan Cheeses.
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