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.
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.
Strategies deployed in Vegan Cheese Market
Nov-2020: Violife teamed up with Cooplands Bakery, the largest bakery chain. The collaboration was aimed to develop vegan cheese bake and to meet an increasing demand in the North East and Yorkshire for vegan products.
Oct-2020: Upfield, the parent company of Violife announced the launch of the Violife 100% Vegan cheese alternative family of products throughout Canada. Violife 100% Vegan cheese alternative products are non-dairy, non-GMO, and free of nuts, soy, gluten and lactose.
Oct-2020: Daiya Foods introduced its Daiya Cutting Board Cheddar Style Shreds at 15 Costco locations in Los Angeles and Hawaii. The Cutting Board shreds are a reformulation of Daiya’s original shredded cheese and are made to be meltier and stretchier.
Jun-2020: Upfield Group is investing €50 million ($56.5 million) into the Upfield Food Science Centre, a plant-based food innovation center. The center is opening in Wageningen, Netherlands. It aims to conduct research and development of a variety of plant-based products at the innovation center to expand its portfolio.
Apr-2020: Daiya Foods released the new lines as well as innovative reformulations including a first-to-market pizza crust created with cauliflower, sweet potato, and spinach. Its Veggie Crust Pizzas are the first plant-based frozen pizzas to market with a vegetable-blend crust made with cauliflower, sweet potato and spinach, and are also gluten free.
Feb-2020: Good PLANeT Foods expanded its product line by launching cream cheese. The cream cheese is dairy, nut, soy, egg and wheat free, as well as certified gluten-free, vegan, kosher, halal and Non-GMO Project Verified.
Feb-2020: Miyoko’s Creamery unveiled the new cheddar and pepper jack cheese, in addition to new spreadable oat milk butter. It has been created using cultured legumes and oats and its nut-free vegan cheese options.
Feb-2020: Miyoko’s Creamery released vegan mozzarella-style cheeses for the foodservice industry. The Cultured Vegan Pizza Mozz can be used for pizzas, lasagnas, cheese steak sandwiches and Italian-style dishes.
Mar-2018: Daiya moved its headquarters and production facility in Burnaby, BC, Canada, just east of Vancouver. The move enabled Daiya to greatly expand strategic operations and accelerate innovation of its signature, plant-based foods. The facility has increased space for distribution, warehousing and administrative offices.
Nov-2017: Violife partnered with Pizza Hut Restaurants. Under this partnership, vegans indulge in cheesy fast food and embracing the vegan lifestyle with Violife’s melty, stretchy, creamy and tangy family of plant-based products.
The North America Vegan Cheese Market would witness market growth of 21.1% CAGR during the forecast period (2020-2026). The rise of flexitarian consumers, who are decreasing meat and dairy consumption by replacing them with plant-based items, is anticipated to be a critical driver in the market. Besides, the impact of social media and...
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