Vegan Cheese Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Source (Soy Milk, Almond Milk, Coconut Milk, Others), By Product Type (Mozzarella, Parmesan, Cheddar, Others), By Distribution Channel (Online, Offline (Hypermarkets, Others)), And By Geography - Forecasts From 2022 To 2027

Published:  Jun 2022 Report Code: KSI061613824 Pages: 110

The global vegan cheese market is expected to grow at a CAGR of 8.95% over the forecast period to reach a total market size of US$7.096 billion by 2027, increasing from US$3.895 billion in 2020. Vegan cheese is often called plant-based cheese for consumers who are lactose intolerant and want to go animal-free. Growing health-consciousness among consumers, dietary restrictions, and the popularity of veganism is supplementing the demand for vegan cheese products globally. Besides, a growing consumer inclination toward veganism in various parts of the world is anticipated to boost the adoption of vegan cheese over the forecast period. However, the relatively high price of plant-based products compared to dairy is expected to restrain the growth of the market in the coming years.

Rising consumer awareness

Growing awareness about the negative impact of high meat consumption on the environment is one of the major factors behind the rising popularity of plant-based products, including vegan cheese. Greenhouse gas emissions due to grazing are pressurizing the whole world to increase focus on plant-based products, which in turn is driving the growth of the vegan cheese market. The rapid shift towards vegan diet adoption is also boosting the demand for cheese, along with other plant-based protein products in various parts of the world. Moreover, the absence of artificial sweeteners and chemical additives is also leading manufacturers and customers to opt for plant-based products over animal-based.

Increasing cases of lactose intolerance are driving the growth of the vegan cheese market

In recent years, the demand for vegan cheese has substantially increased on account of the growing number of lactose intolerance cases in developed economies like the United States, the United Kingdom, and Germany. Growing social and ethical concerns about animal-based products are driving up demand for plant-based cheese during the forecast period.  Additionally, the prominent market players are investing heavily in research and development for new product development which is anticipated to widen the growth opportunities for new players entering the market.

Furthermore, due to the COVID-19 pandemic, consumers are demanding more plant-based products at a rapid pace, and it is possible that vegan cheese could be on a similar trajectory in various parts of the world. In the first two quarters of 2020, retail sales of plant-based cheese in developed economies like the United States, and Canada witnessed an exponential rise. Recent investments in plant-based cheese production support the category’s growing momentum in various parts of the world.

Understanding the European market

A plant-based lifestyle is becoming increasingly popular in Germany, and people are shifting from an animal protein diet to a plant-based diet. Rising health awareness toward a plant-based diet, supported by the increasing investments in plant-based food businesses, is expected to drive the German rice protein market during the forecast period. Besides, increasing product launches offering a wider variety of solutions to consumers, and rising trends towards sustainability are further anticipated to boost the rice protein market in the country.

France has the third-largest economy on the continent after Germany and the UK. The French rice protein market is being driven by an established food and beverage industry, as well as growing investments in new food production lines.  In a country like France, where eating cheese is almost a religion, and meat is considered an essential part of a meal, having vegan food in the country has been like an uphill battle over the past few years. Rising awareness of the negative health effects of animal consumption and growing sensitivity among consumers are positively contributing to the rice protein market. Also, companies such as Carrefour, which is one of the leading supermarkets in the country, opened new stores in Paris with 1/3rd of the shop dedicated to vegan and organic food. Such efforts by market players are anticipated to boost the demand for plant-based proteins in the country, further augmenting the market for rice protein in the coming years. Italy has been witnessing rising investments in the retail business where market players are investing heavily, including super-smart chains like Coop which is the leader in grocery retail in the country and has certified vegan products under its brand, invests well in plant-based protein segments, which are anticipated to boost the market for rice protein in the coming years.

Geographical analysis

In countries like Canada, China, and India, which are still at a nascent stage, both Chinese and Canadians prefer animal-based products over plant-based alternatives. However, social pressure to reduce meat consumption is resulting in the adoption of plant-based protein diets among more populations, supported by regulatory recommendations.   For instance, the new Canada Food Guide encourages meatless meals. Also, companies are investing in these countries, aiming to have a competitive edge over competitors. For instance, in Canada, Ottawa has invested $150 million in Canada’s plant protein industry through its $950 Supercluster initiative, recommending people eat more plant-based products. All these factors will spur the overall growth of the vegan or plant-based cheese market during the next five years. The increased presence of the vegan population is even forcing restaurants to consider new approaches to serving protein-based alternatives to their customers.

Recent updates

  • July 2020: Los Angeles-based vegan cheese company Grounded Foods announced that it has raised US$1.74 million in funding led by alternative protein venture capital Stray Dog Capital intending to expand the production and distribution of its fermented cauliflower and hemp seed plant-based cheeses.
  • May 2020: The United States-based vegan company GOOD PLANeT Foods raised nearly US$12 million in Series A funding led by venture capital firm Cleveland Avenue, with participation from other investment firms also.
  • April 2020: Schuman Cheese announced the launch of its new plant-based division, “Vevan Foods” which is the Wisconsin cheesemaker’s introduction to the non-dairy cheese category.
  • April 2020: Miyoko’s Creamery debuted its newest vegan cheese line at Whole Foods Market, and other retailers and is planning to launch new products in the coming months.
  • February 2020: Legendary vegan brand Tofurky expands its sub-line Moocho with new vegan cheese products. The new products are expected to include three more flavours of vegan cheese shreds (Mozzarella, Cheddar, and Fiesta Blend) and three further flavours of cream cheese (Plain, Garden Vegetable, and Strawberry).
  • January 2020: Sweden-based startup company Noquo foods announced that it has raised €3.25 million to fund what it believes is an attempt to make a better plant-based cheese factory.
  • In September 2021, Goodmylk, an Indian dairy-free brand, expanded its plant-based product portfolio by introducing new vegan cheddar cheese.
  • In March 2022, Primula, the leading long-life spreadable cheese brand, announced its intentions to enter the UK plant-based market with the launch of its Perfectly Plant range. Primula claims Perfectly Plant is the first plant-based cheese available in a tube format and is Vegan Society-certified.
  • In January 2022, Yangyoo, a Korean food tech company, debuted Korea's first vegan cheese alternative at CES 2022. Armored Fresh Vegan cheese is available as shredded, sliced, camembert, cube spreadable, and burrata varieties in eight multiple flavours: plain, blueberry, citron, garlic herb, injeolmi, jalapeno, strawberry, spicy salted caramel, and chocolate.

COVID-19 Insights:

COVID-19 had a positive impact on the vegan cheese market. With the surge in active cases, lockdown and social distancing measures were deployed. With brands actively adapting to e-commerce, the vegan cheese segment witnessed increased sales. Furthermore, greater awareness of lactose-intolerant conditions and the many advantages of plant-based milk products, such as lowering the intensity of certain allergies and dermatitis, are driving the growth.

Competitive Intelligence

The overall vegan cheese industry is expanding tremendously. It offers various opportunities for new entrants owing to a continuous shift in consumer preferences towards a healthy lifestyle around the globe. The rising application in various industries is widening the growth opportunities for vegan cheese producers in various parts of the world. Also, the market factors such as the increasing number of product launches and investments by major players, the development of demand through marketing, and local infrastructure are projected to influence the whole value chain of vegan cheese. In addition, companies that are directly involved in retail are investing in e-commerce channels to gain benefits from growing market penetration. Furthermore, consumer buying behaviour has been reshaped in recent years with growing variety, and online retail discount offers have impelled consumers to prefer online retail.

Prominent/major key players in the global vegan cheese market include Hope Foods, LLC, GOOD PLANeT Foods, Kite Hill, Angel Food, Miyoko's Creamery, Green Vie Foods, and Tofutti Brands, Inc., among others. The number of players in the vegan cheese market is limited and is growing with the opportunity to generate significant revenues because of growing demand in various parts of the world. The players in the global vegan cheese market are implementing various growth strategies like product launches and online discount schemes to gain a competitive advantage over their competitors in this market. Major market players in the global vegan cheese market have been covered exhaustively along with their relative competitive positions and strategies.  The report also mentions recent deals and investments of different market players over the last couple of years. The company profiles section details the business overview, financial performance (public companies), strategies, and key products and services being offered, along with the recent deals and investments of these important players in the global vegan cheese market.

Vegan Cheese Market Scop:

Report Metric Details
 Market size value in 2020  US$3.895 billion
 Market size value in 2027  US$7.096 billion
 Growth Rate  CAGR of 8.95% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Source, Product Type, Distribution Channel, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered GOOD PLANeT Foods., Kite Hill., Angel Food, Miyoko's Creamery, Green Vie Foods, Tofutti Brands, Inc, Bute Island Foods Ltd, WayFare Foods, VioLife, Galaxy Nutritional Foods, Inc.
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Source
    • Soy Milk
    • Almond Milk
    • Coconut Milk
    • Others
  • By Product Type
    • Mozzarella
    • Parmesan
    • Cheddar
    • Others
  • By Distribution Channel
    • Online
    • Offline
      • Hypermarkets
      • Others
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • Spain
      • United Kingdom
      • Italy
      • France
      • Others
    • Middle East and Africa
      • UAE
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
      • Indonesia
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the vegan cheese market size by 2027?
A1. The global vegan cheese market is expected to reach a total market size of US$7.096 billion in 2027. 


Q2. What is the size of the global vegan cheese market?
A2. Vegan Cheese Market was valued at US$3.895 billion in 2020. 


Q3. What are the growth prospects for the vegan cheese market?
A3. The vegan cheese market is expected to grow at a CAGR of 8.95% over the forecast period. 


Q4. What factors are anticipated to drive the vegan cheese market growth?
A4. Growing health-consciousness among consumers, dietary restrictions, and the popularity of veganism is supplementing the demand for vegan cheese products globally. 


Q5. Who are the major players in the global vegan cheese market?
A5. Prominent key market players in the global vegan cheese market include GOOD PLANeT Foods., Kite Hill, Angel Food, Miyoko's Creamery, Green Vie Foods, Tofutti Brands, Inc, Bute Island Foods Ltd, Daiya Foods Inc, WayFare Foods, Gardener Cheese Company, VioLife, and Galaxy Nutritional Foods, Inc. 

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Global Vegan Cheese Market Analysis, By Source (Value in US$ Million)
5.1. Introduction
5.2. Soy Milk
5.3. Almond Milk
5.4. Coconut Milk
5.5. Others

6. Global Vegan Cheese Market Analysis, By Product Type (Value in US$ Million) (Volume in Tons)
6.1. Introduction
6.2. Mozzarella
6.3. Parmesan 
6.4. Cheddar
6.5. Others

7. Global Vegan Cheese Market Analysis, By Distribution Channel (Value in US$ Million) (Volume in Tons)
7.1. Introduction
7.2. Online
7.3. Offline
7.3.1. Hypermarkets
7.3.2. Others

8. Global Vegan Cheese Analysis, by Geography (Value in US$ Million) (Volume in Tons)
8.1. Introduction
8.2. North America (Value in US$ Million) (Volume in Tons)
8.2.1. North America Vegan Cheese Market Analysis, By Source, 2020 to 2027
8.2.2. North America Vegan Cheese Market Analysis, By Product Type, 2020 to 2027
8.2.3. North America Vegan Cheese Market Analysis, By Distribution Channel, 2020 to 2027
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America (Value in US$ Million) (Volume in Tons)
8.3.1. South America Vegan Cheese Market Analysis, By Source, 2020 to 2027
8.3.2. South America Vegan Cheese Market Analysis, By Product Type, 2020 to 2027
8.3.3. South America Vegan Cheese Market Analysis, By Distribution Channel, 2020 to 2027
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe (Value in US$ Million) (Volume in Tons)
8.4.1. Europe Vegan Cheese Market Analysis, By Source, 2020 to 2027
8.4.2. Europe Vegan Cheese Market Analysis, By Product Type, 2020 to 2027
8.4.3. Europe Vegan Cheese Market Analysis, By Distribution Channel, 2020 to 2027
8.4.4. By Country
8.4.4.1. Germany
8.4.4.2. Spain
8.4.4.3. United Kingdom
8.4.4.4. Italy
8.4.4.5. France
8.4.4.6. Others
8.5. The Middle East and Africa (Value in US$ Million) (Volume in Tons)
8.5.1. Middle East and Africa Vegan Cheese Market Analysis, By Source, 2020 to 2027
8.5.2. Middle East and Africa Vegan Cheese Market Analysis, By Product Type, 2020 to 2027
8.5.3. Middle East and Africa Vegan Cheese Market Analysis, By Distribution Channel, 2020 to 2027
8.5.4. By Country
8.5.4.1. UAE
8.5.4.2. Saudi Arabia
8.5.4.3. Others
8.6. Asia Pacific (Value in US$ Million) (Volume in Tons)
8.6.1. Asia Pacific Vegan Cheese Market Analysis, By Source, 2020 to 2027
8.6.2. Asia Pacific Vegan Cheese Market Analysis, By Product Type, 2020 to 2027
8.6.3. Asia Pacific Vegan Cheese Market Analysis, By Distribution Channel, 2020 to 2027
8.6.4. By Country
8.6.4.1. China
8.6.4.2. Japan
8.6.4.3. India
8.6.4.4. Australia
8.6.4.5. South Korea
8.6.4.6. Indonesia
8.6.4.7. Thailand
8.6.4.8. Others

9. Competitive Environment And Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. Companies Profiles
10.1. GOOD PLANeT Foods.
10.2. Kite Hill.
10.3. Angel Food
10.4. Miyoko's Creamery
10.5. Green Vie Foods
10.6. Tofutti Brands, Inc
10.7. Bute Island Foods Ltd
10.8. WayFare Foods
10.9. VioLife
10.10. Galaxy Nutritional Foods, Inc.

GOOD PLANeT Foods.

Kite Hill.

Angel Food

Miyoko's Creamery

Green Vie Foods

Tofutti Brands, Inc

Bute Island Foods Ltd

WayFare Foods

VioLife

Galaxy Nutritional Foods, Inc.

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