Canada Vegan Cheese Market is projected to grow at a CAGR of 5.61% during the forecast period. Before plant-based options are delved into it is important to note the consumption priority of consumers in Canada with respect to Cheese. After a declining trend, before 2014, a per capita consumption over 13 kilograms in 2020 was forecasted which was an increase from 11 kilograms. The total volume of cheese consumption is estimated to reach 550000 MYT 2020 which is an increase from 2019 levels of 543,000 MT [Source: USDA]. Further according to FAO estimates the cheese consumption in Canada is projected to increase to 602 kt by 2029 from the 2017-19 consumption estimate 503 kt. At the same time, consumers are increasingly pursuing a diverse source of protein which is fueling the growing plant-protein industry which is increasingly engaged in research and development of functional food and beverages which are replacing the traditional sources of protein Viz vegan cheese, among others. The upswing in plant-based alternatives, especially that of protein alternatives has been driven by certain key aspects like the adoption of environmental stewardship and protection of animal welfare, increasing awareness about the benefits of protein-rich diet and plant-based alternatives, increasingconsumer interest in foods that promote health and well-being,as well as rising demand for protein due to rapid population growth of the nation which is estimate to be at 39,326,966 by 2025 from 37,742,154 of 2020 [Source: United Nations]. The aspect of health consideration has been further augmented by COVID 19.
Besides in Canada, more than 40% of the population is reportedly trying to incorporate more plant-based foods into their diets as of 2019.It has been estimated that the growing degree of adoption flexitarian, vegan, and vegetarian diets are further aiding plant-based protein sources to become mainstream. Before all foregoing, in terms of improvement of health, the economic value of plant-based diets is assessed to be equal to or greater than their environmental benefits and are valued at 1-31 trillion US dollars or 0.4 to 13% of the global gross domestic product in 2050 [Source: National Research Council Canada]. The aforementioned is reflected in a variety of food products and cheese or vegan cheese, to be precise is no exception. For instance, in January 2020, the owner of leading plant-based brand Field Roast Grain Meat Co, Greenleaf Foods, SPC had reportedly announced an increased distribution of its Chao Creamery Creamy Original vegan cheese throughout Canada, making it commercially available in Costco stores in Ontario Canada, among others. Another example, which is a reaffirmation of commitment to offer vegan products that have been manufactured with ingredients that have been fairly grown, traded, and is physically traceable, allowing producers, workers, and their families to live with dignity, called the Fairtrade process of certification. To this end Nuts For Cheese, which is an established leader in Canada’s natural product and vegan cheese categories reportedly becomes the world’s first to produce Fairtrade Certified vegan cheese. This further suggests that consumption of vegan cheese is not limited to the fringes but has emerged as a part of the mainstream diet catering to many Canadians who expect ethical supply chains, among others. Therefore the above-mentioned aspects indicate a robust growth of the Canada vegan cheese market during the forecast period.