Vegan Cheese Market is projected to grow at a CAGR of 8.91%

Vegan Cheese Market is projected to grow at a CAGR of 8.91%

By Knowledge Sourcing Intelligence Press Releases

Knowledge Sourcing Intelligence announces the publication of a new report on “Vegan Cheese Market - Forecasts from 2020 to 2025” to their offering.

The recent upswing in the plant-based revolution in food products, growing number of lactose-intolerant consumers, rising pool of environmentally conscious consumers who are averse to animal cruelty public among others are expected to lead to nominal market growth.

As per the report, the global market pertaining to Vegan Cheese is expectedto reach US$4.578 billion by 2025, from US$2.743 billion in 2019

The food and beverage market has been constantly subjected to a variety of changes which are manifested in the form of various developments in the diverse markets and by a diverse range of players that it is known to encompass, the vegan cheese market is also not an exception. Thus, in order to provide an attestation to the aforesaid few factors and substantiate the forecasted growth of the market a few of the developments is being listed below.

January 2019 – Announcement to provide vegan cheese options

With the rationale to be aligned with the growing fast-growing vegan movement Papa John's International, Inc. (NASDAQ: PZZA) had reportedly confirmed that it would be providing its customers the option of vegan cheese in all 350 + outlets in the UK after a reportedly successful petition lead by Animal Aid

March 2019 - Product Launch

Whole Foods Market which is a supermarket chain was reported to launch a new range of vegan cheese under its 365 brand which is devoid of palm oil and has been reportedly made commercially available slices and shreds and cheddar flavor.

October 2019 – Product Launch

The development of a cheddar cheese alternative which is reported to possess the textures, “meltability” and ‘rich taste of a dairy cheese’ and has been launched as a part of its one-of-a-kind realistic plant-based bacon and cheese alternatives, was reportedly announced by Nestlé (SWX: NESN).

November 2019 – Provision of dairy-free cheese option

West Coast burger chain Fatburger had reportedly expanded its vegan range with the addition of vegan cheese to its menus which are dairy-free cheese slices from DAIYAFOODS INC.  which is a Vancouver, British Columbia, based Canadian dairy alternative food company.

November 2019 – Celebrity Investments

Miyoko’s Creamery which is a vegan cheese brand that uses organic and whole foods like nuts and legumes with no additives and no GMO or artificial ingredients reportedly announced actor Portia de Rossi and American television host Ellen DeGeneres who is known to jointly run a conservation group that protects endangered mountain gorillas called the “The Ellen Fund”.

Besides,  a factor that it is  instrumental in influencing the consumption trend of vegan cheese is  the growing cognizance of  plant-based protein  around the world which are driven by factors that are inclusive of but not limited to a few factors like growing investments and inclination to  participate  in R&D of various plant-based protein alternatives; the growing awareness of environmental impacts that arise from livestock farming  that comprise eutrophication, greenhouse gas (GHG) emission, and soil  acidification, among others which in turn has led to a growing consensus of sourcing proteins from  plant based means in lieu of dairy based products among others; the growing investments  undertaken by the players in the market to resonate with the ethos of  currently value-driven consumers who are increasingly creating more  opportunities for both dominant market players and market entrants, incentivizing them to venture into the plant based protein space; initiatives  like that undertaken by Mexico City Congress in March 2019 through the means of its approval of  point of agreement which encourages different public organizations in Mexico City, such as the Secretariat of Education, Science, Technology and Innovation (SECITI), the Secretariat of Inclusion and Social Welfare (SIBISO) and the System for the Integral Development of the Family (DIF); to examine the prospects of  implementing plant-based meals in their community kitchens one day a week to combating childhood obesity. The aforesaid is further substantiated by the growth of the Global Plant Protein Market which has been forecasted to grow at a healthy CAGR.

As a part of the report, the major players operating in the global vegan cheese, which have been covered are Angel Food, Bute Island Foods Ltd, Daiya Foods Inc, Galaxy Nutritional Foods, Inc., Gardener Cheese Company, GOOD PLANeT Foods., Green Vie Foods, Hope Foods, LLC, Kite Hill., Miyoko's Creamery, Tofutti Brands, Inc, VioLife and WayFare Foods.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/vegan-cheese-market

This report segmented the global vegan cheese market on the basis following terms

  • 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
      • Others