Vegan Cheese Market Sees Increased Adoption

  • A major factor driving growth of the global vegan cheese market is increasing adoption of plant-based products.
  • Growing vegan population is another key factor fueling growth.
  • The market in Asia Pacific is expected to register the highest growth regionally.

Vegan cheese is derived from non-dairy and plant-based milk. Commonly soy milk, coconut milk, almond milk, cashew milk, etc. are used for making vegan cheese.

The first five-year cumulative revenue (2019–2023) is projected to be more than $14 billion, which is expected to increase rather relatively over the latter part of the five-year forecast period. The global vegan cheese market is expected to value at nearly $2.5 billion in 2019, and is expected to register a CAGR of 7.3%.

Global Vegan Cheese Market: Market Dynamics

A major factor driving growth of the global vegan cheese market is increasing adoption of plant-based products, owing to growing health consciousness among individuals. In addition, growing vegan population is another key factor fueling growth of the target market. Increasing preference for healthy alternatives to conventional food products which contains less cholesterol and saturated fats, owing to increasing number of individuals suffering groom diabetes, health disease and cancer are also factors expected to support growth of the target market over the forecast period.

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Global Vegan Cheese Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global vegan cheese market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global vegan cheese market is expected to register a CAGR of 7.3% during the forecast period.

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Global Vegan Cheese Market: Segmental Snapshot

By Product Type: The mozzarella segment is expected to register the highest CAGR of over 7.2% over the forecast period in the global market

By source type: The soy milk segment is expected to register the highest CAGR of over 7.1% over the next 10 years

By Form: The blocks and wedges segment is expected to register the a CAGR of over 7.0% over the forecast period in the global market

By Distribution Channel: The hypermarkets/supermarkets segment is expected to register the a CAGR of over 6.6% in the near future

By Application: The snacks and ready meals segment is expected to register the highest CAGR of over 7.3% over the forecast period in the global market

By Region:  The market in Asia Pacific is expected to register the highest CAGR of over 7.4% in the global vegan cheese market

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Global Vegan Cheese Market: Competitive Analysis

The research report on the global vegan cheese market includes profiles of some of the major companies such as Daiya Foods Inc., Dr-Cow Tree Nut Cheese, Follow Your Heart, Inc., GreenSpace Brands Inc. (Galaxy Nutritional Foods, Inc.), Maple Leaf Foods Inc. (Field Roast Grain Meat Co., Inc.), Miyoko’s Kitchen, Inc., Happy Cheeze GmbH, Punk Rawk Labs, Inc., Bute Island Foods Ltd., Tofutti Brands, Inc., and Wayfare Inc.

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Krutika Bhoot

I have been into market research industry for last 2 years. I have a keen interest and deep knowledge of research industry. My goals in life are simple - to stay happy, healthy and to keep writing as long as I possibly can.
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