Cheese is one of the most preferred dairy products all over the world. In the US itself, on an average, a person intakes over 38 pounds (17 kg) of cheese per year. Owing to the mounting popularity of vegan and other dairy-free diets, several dairy-free cheese alternatives are now accessible to the consumers. Vegan cheeses are made from a wide range of plant-based ingredients and come in an extensive choice of styles and flavours. Vegan diets are generally high in fiber and several vitamins and omnivorous diets. Nowadays, there are more vegan cheese options available in the market than ever before, making it easier for the consumers to follow the vegan diet.
Mounting health concerns associated with intake of dairy products is inducing consumers to shift to vegan products. Further, rising awareness about the environmental pollution caused due to dairy farming practices is accelerating the shift towards dairy substitutes. Numerous market players active in the food and beverages market are moving into the production of vegan products to have a hold on the growing popularity of veganism all over the world. Certification of vegan products and the introduction of multiple new chains by Hollywood stars and sports personalities are further causing an increase in the demand for vegan products around the world.
The study analyses Global Vegan Cheese market based on source, product type, distribution channel, application and geography.
The major source of vegan cheese includes soy milk, rice milk and almond milk. People are moving towards vegan diet, which is a major aspect advancing growth in the almond milk market. With the growing populace, the demand for vegan cheese made from almond milk is likely to increase considerably over the estimated timeframe. Even in emerging economies, the demand for vegan food products has incredibly increased. This is expected to fuel growth opportunities for the almond milk market.
Cheddar, Cream Cheese, Parmesan, Mozzarella are the major products of vegan cheese. Mozzarella cheese is likely to dominate the market over the estimated timeframe. Apart from its usage in pizza, mozzarella cheese is used in a number of products and is well accepted with vegetables. Mozzarella cheese is also used in baked goods, Italian dishes etc. However, cheddar and parmesan cheese are also anticipated to be growing at a moderate pace over the forecast period. Further, parmesan cheese is popular cheese for snacking on its own or with crackers. It is specifically flavored in melted dishes such as soup and sauce recipes. A few dishes which use parmesan cheese are mashed potatoes, shepherd's pie, macaroni and cheese, casseroles, etc.
Reliant upon the type of distribution channel, the Vegan Cheese market can be accessed through retail store, specialty store and online stores. Among these, the retail store is likely to hold a majority of the market share. However, the online distribution channel is foreseen to grow at a rapid pace during the forecast period.
The market finds application in Fast Food Snacks, Bakery & Confectionery, Dips & Sauces etc. The mounting demand from fast food snacks segment is likely to drive the segment at a faster rate. To capitalize on the growing demand for vegan cheese, leading fast food ventures such as Domino’s and McDonald’s have already started serving vegan burgers, pizzas, and other vegan fast food products. Further, an increasing number of grocery and retail stores are beginning to sell different varieties of vegan cheese. However, shifting consumer preference and daily consumption of vegan diet through breakfast is one of the major reason for the bakery & confectionery segment to dominate the market.
Geographically, the market is studied for the key countries of North America, Europe, Asia Pacific and Rest of the World. North America is projected to hold a significant market share for the Vegan Cheese as it is an already reputable organic food market globally. Europe and Asia Pacific are likely to follow North America as a majority of consumers are settled in these regions. Owing to rising disposable income and penetration veganism concept, Asia Pacific is likely to be growing at a rapid pace over the forecast period.
Robust global worries about the pandemic coronavirus have significantly but negatively inclined the global functioning of the food & beverage industry and the mentality of consumers, given the health risks. Moreover, factors such as consumer uncertainties, demand-supply volatility, trade and logistics, raw material supply and on the economic front, although prices of F&B products and agricultural produce have remained stable, a prolonged outbreak of COVID-19 will lead to economic instability and food inflation. While the short-term impacts are more evident, it is yet to be understood what impacts and what magnitude of impact the outbreak of COVID-19 will have on the supply chain in the long term.
Dr. Cow Tree Nut Cheese, Uhrenholt A/S, Kite Hill, Miyoko's Kitchen, Vtopian Artisan Cheeses, Heidi Ho., Hochland Group, Parmela Creamery, Treelin TreeNut Cheese among others are the major players active in the Vegan Cheese market.
The study analyses Global Vegan Cheese market based on source, product type, distribution channel, application and geography. The major source of vegan cheese includes soy milk, rice milk and almond milk. Cheddar, Cream Cheese, Parmesan, Mozzarella are the major products of vegan cheese. Mozzarella cheese is likely to dominate the market over the estimated timeframe. Reliant upon the type of distribution channel, the Vegan Cheese market can be accessed through retail store, specialty store and online stores. The market finds application in Fast Food Snacks, Bakery & Confectionery, Dips & Sauces etc. Geographically, the market is studied for the key countries of North America, Europe, Asia Pacific and Rest of the World.
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