The Global Vegan Cheese Market size was valued at US$ 2.98 Bn. in 2021 and the total revenue is expected to grow at 9.3% through 2022 to 2029, reaching nearly US$ 6.07 Bn.
Market Overview
The report on Global Vegan Cheese market published by the renowned business consulting firm Maximise Market Research indicates the substantial growth in the Global Vegan Cheese market is expected in forecast period by 2022-2029. The key market drivers are driving the markets growth and in depth analysis of it is provided in the report. It emphasizes how competitive global economy and gives description of the key competitors and recent most successful strategies that were used by the competitors.
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Market Scope
The report of MMR provides the in-depth analysis of the market segmentation and the Global Vegan Cheese markets key competitors analysis which gives a competitive landscape. A noteworthy analysis of the Global Vegan Cheese market sectors and opportunities is included in the MMR’s report. The report provides the current market trends in terms of demand and supply chain, sales and recent changes in market. The primary and secondary data is analysed to understand the Global Vegan Cheese market behaviour. The primary data consists of the personal interviews of industry experts and professionals, lower market level study, telephonic surveys and in secondary date the annual reports, government reports, financial reports, data bases of organisations, industry journals, white papers, releases of product manufacturers and suppliers in the industry along with the paid databases. Different methodologies are used to understand the strengths and weakness of the Global Vegan Cheese market.
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Segmentation:
By Product, Mozzarella vegan cheese is dominating the global vegan cheese market segment with a total 30% of share in the overall market. Mozzarella cheese is widely used in a variety of recipes, pizza, pasta, and other main Italian dishes which are largely consumed globally. Mozzarella is used in form of block, slice, cube, shreds, and spread. High usage in restaurants and cafes drives increased demand for vegan mozzarella cheese in recent years as the vegan trend is spreading in the food and beverage industry. Parmesan cheese is second leading in terms of consumption.
By Source, Cashew source dominated the global vegan cheese market with accounting for 35% share in the total market. Cashew milk is the main raw material that is used by many leading manufacturers like Gardener Cheese Company, D-Cow Tree Nut Cheese, and Kite Hill. Due to the High cost of Cashew milk, it reflects on the base price of the vegan cheese due to its high quality which is generally preferred by vegan consumers. The Soy cheese market is also one of the lucrative markets as several populations are opting for soy cheese as an alternative. Almond and coconuts are the other sources to extract milk for vegan cheese.
By End Use, the Household segment is dominating the global vegan cheese market with more than 50% market share as the major population includes vegan cheese into their daily diet as it is a high protein, Cholesterol plant-based cheese. Asian Countries have a large vegetarian population which is likely to turn into vegan as the high benefits from plant-based cheese and other vegan products. General Population started using vegan cheese in daily diet as the rise in disposable income made the change in the diet of the urban population. The processed food industry is a massive user of a variety of cheese as a large number of processed food options required various types of cheese. As demand ramps up for vegan processed food, call for vegan cheese have seen sharp growth.
Key Players:
• Reine Vegan Cusine
• Gardener Cheese Company
• Tofutti Brands, Inc.
• Violife
• Dr-Cow Tree Nut Cheese
• DAIYA FOODS INC.
• Kite Hill
• Tyne Cheese Limited
• VTOPIAN ARTISAN CHEESES
• Miyoko's Creamery
• Parmela Creamery
• Go Veggie
• Mad Millie
• UPrise Foods
• Nush
• Tesco Free From
• Follow Your Heart
• Field Roast Grain Meat Co
• Punk Rawk Labs
• Wayfare
• Good Planet Foods
• Regal Vegan
• Vermont Farmstead
• Bute Island Foods Ltd
• Galaxy Nutritional Foods
• Kinda Co
• So Delicious Dairy Free
• SEROTONIN
Regional Analysis
The Global Vegan Cheese region had highest market share of the Global Vegan Cheese market in 2021 and is also expected to keep the dominance in the market. The research for the report is done globally on specific regions to understand the regional Global Vegan Cheese market thoroughly what are its restrictions and developments and opportunities. Government subsidiaries or initiatives also boosts the regional market growth and it is also studied in the MMR’s report. The region wise survey is done in a wide range of high end regional investigations to understand the regional Global Vegan Cheese market.
Key Questions answered in the Global Vegan Cheese Market Report are:
Key offerings:
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Mar 15, 2023