The Vegan Cheese market estimated at USD 2.18 Billion in the year 2022, is projected to reach a revised size of USD 5.95 Billion by 2030, growing at a CAGR of 13.4% over the analysis period 2023-2030.
The Vegan Cheese market estimated at USD 2.18 Billion in the year 2022, is projected to reach a revised size of USD 5.95 Billion by 2030, growing at a CAGR of 13.4% over the analysis period 2023-2030.
Non-dairy cheese was first created with fermented tofu or whole soy in China in the 16th century. Vegan cheese refers to dairy-free, plant-based cheese alternatives. Vegan cheeses range from soft fresh cheeses to hard grateable cheeses that have been matured and cultured, such as plant-based Parmesan. The absence of all animal products is the distinguishing feature of vegan cheese. Vegan cheese can be manufactured with proteins, lipids, and milks generated from plants (plant milks). It can also be made using sesame, sunflower, and sunflower seeds, as well as nuts (cashew, pine nut, peanuts, and almonds) and soybeans; other components include coconut oil, nutritional yeast, tapioca, rice, potatoes, and spices.
The increased acceptability of veganism, particularly among millennials, has spurred business growth. As people become more conscious of animal cruelty and the dairy industry's terrible environmental consequences, they are increasingly opting for plant-based foods. The epidemic of COVID-19 has brought some respite to the market, as people all across the world have taken a renewed interest in home cooking.
Major Key Players for Vegan Cheese Market:
UPrise Foods, Daiya Foods, Parmela Creamery, Tyne Cheese Limited, Good Planet Foods, Follow Your Heart, Galaxy Nutritional Foods Inc., Violife Foods, Mad Millie, Field Roast Grain Meat Co., Nush, Go Veggie, Vtopian Artisan Cheese Company, Kite Hill, Feel Foods Ltd., Tesco, Miyoko's Kitchen Company, Vermont Farmstead Company
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Market Dynamics and Factors:
Consumers' willingness to spend money on plant-based foods has increased considerably in recent years. Furthermore, there has been a constant increase in demand for food alternatives. Vegan cheese manufacturers promote and encourage people to absorb essential nutrients from plant-based foods. Changes in the food sector, as well as changes in consumer habits, are driving the vegan cheese market forward.
Furthermore, rising personal disposable income, changing tastes and preferences, and increased acceptance of the western lifestyle are all driving the vegan cheese industry forward. An increase in the global vegan population, as well as growing concerns about animal safety and health, are further market growth variables. Manufacturers' increased focus on unique product offers, along with tighter restrictions on animal-based foods, will give the industry even more profit possibilities.
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Key Industry Development:
Vegan Cheese Market Segmentation:
By Product Type
By Product Form
By Source
By Flavor
By Nature
By End User
By Distribution Channel
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Jan 02, 2024