Developing at 15.5% CAGR between 2021 and 2027, Global Vegan Cheese Market to Reach US$4.42 bn by 2027

A new study on the global vegan cheese market has been recently added to the vast repository of Report Ocean. The report, titled “Vegan Cheese Market by Product (Mozzarella, Cheddar, Pepper Jack, Parmesan, Gouda, and Other), Source (Soy Milk, Almond Milk, Rice Milk, and Other), and End Use (Household, Food Industry, and Foodservice Industry): Global Opportunity Analysis and Industry Forecast 2021–2027” offers a detailed study of this market on the basis of its past and current performance.

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According to the research report, the global vegan cheese market stood at US$1.23 bn in 2019. Proliferating at a CAGR of 15.50% during the period from 2021 to 2027, the market is expected to reach US$4.42 bn by the end of the forecast period. The significant rise in lactose intolerant population is driving the vegan cheese market across the world. Apart from this, the rise in urbanized population, surge in spending on health-related products, and the increasing prevalence of obesity, chronic diseases, and cardiovascular disorders are also adding to the growth of this market substantially. However, the high price of vegan cheese and the lack of awareness regarding its benefits among consumers may limit its demand over the coming years.

Impact of Covid 19 on Global Vegan Cheese Market

Covid 19 pandemic has positively influenced the global vegan cheese market. The increasing consciousness and the awareness regarding health and immunity power among consumers have encouraged them to consume highly nutritious food, among which plant-based cheese is an important option.

Demand for Mozzarella Cheese to Increase Significantly

The report has analyzed the global vegan cheese market on the basis of the product, source, end use, and the region. On the basis of the product, the market has been categorized into mozzarella, cheddar, pepper jack, parmesan, gouda, and several other types of cheese. The mozzarella segment is estimated to witness the fastest growth during the forecast period. Based on the source, it has been segregated into soy milk, almond milk, rice milk, and other.

Depending on the end use, it has been divided into household, food industry, and foodservice industry. The household segment is expected to rise significantly over the next few years. Regionally, it has been analyzed across North America, Europe, Asia Pacific, and LAMEA. North America has acquired the dominance and it is expected to retain it throughout the period of the forecast.

The leading players in the global vegan cheese market, mentioned in the report, are Bute Island Foods Ltd., GreenSpace Brands, violifefoods.com, Vtopian Artisan Cheeses, Chicago Vegan Foods, Gardener Cheese Co., Tofutti Brands Inc., Kite Hill, Daiya Foods Inc., and Nush Foods.

Key Findings:

• Based on the product, the mozzarella segment is estimated to witness the fastest growth during the forecast period.
• In terms of the end use, the household segment is expected to rise significantly over the next few years.
• Among all regional markets, North America has acquired the dominance and it is expected to retain it throughout the period of the forecast.

The global vegan cheese market is segmented into:

By Product

• Mozzarella
• Cheddar
• Pepper Jack
• Parmesan
• Gouda
• Other

By Source

• Soy Milk
• Almond Milk
• Rice Milk
• Other

By End User

• Household
• Food Industry
• Foodservice Industry

By Region

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Rest of Asia Pacific

LAMEA

• Latin America
• Middle East
• Africa

Companies Mentioned in the Report

• Bute Island Foods Ltd.
• GreenSpace Brands
• com
• Vtopian Artisan Cheeses
• Chicago Vegan Foods
• Gardener Cheese Co.
• Tofutti Brands Inc.
• Kite Hill
• Daiya Foods Inc.
• Nush Foods

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