Global Market Study on Vegan Cheese: Demand to Rise as Veganism Goes Mainstream
The vegan cheese market is expected to continue its bullish run as demand for plant-based products continues to rise. Growing lactose intolerance prevalence is becoming a vital factor that is driving the growth of the vegan cheese market.
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- Mad Millie
- Tesco Free From
- UPrise Foods
- Go Veggie
Growing Popularity of Veganism to Proliferate Vegan Cheese Sales
Veganism which was once considered as a fashion that would pass by is starting to go mainstream with millennials driving the trend. Growing concerns about animal welfare and increased consciousness in regards to the sustainability offered by the vegan food industry are the key factors helping the promotion of veganism.
Moreover, increasing concerns about health problems pertaining to the consumption of dairy products is further influencing consumers to shift to vegan products. Recent researches have suspected the use of antibiotics, hormones, and allergens on cattle for increasing cattle production creating a negative outlook of the dairy industry. Further, growing awareness about the environmental pollution caused due to dairy farming practices is driving the shift towards dairy alternatives.
Multiple leading players operating in the food and beverages market are venturing into the production of vegan products to capitalize on the growing popularity of veganism around the world. Endorsement of vegan products and the launch of multiple new chains by celebrities and sports personalities are further causing an increase in the demand for vegan products around the world.
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Widespread Adoption Across Food Industry and Availability in a Variety of Flavors Bolstering Market Growth
The rise in the popularity of veganism has prompted food manufacturing units to incorporate the dairy-free alternative in the production of a different variety of food products. Vegan cheese is finding widespread adoption in bakeries and fast food joints.
To capitalize on the growing demand for vegan cheese, leading fast food ventures such as Domino’s and MacDonald’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.
The availability of vegan cheese in different flavors such as caramel, blueberry, cranberry, and many other flavors is providing the consumers a chance to experience novel tastes. In addition to this, vegan cheese is cholesterol free and a great source of protein making it a healthy alternative for obese and lactose intolerant population.
The market is gradually gaining increasing penetration as manufacturers continue to improve the texture and mouthfeel of vegan cheese to match the qualities of its dairy counterpart.
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North America to Remain the Most Lucrative Market for Vegan Cheese Manufacturers
North America is estimated to remain at the forefront of the vegan cheese market growth owing to the availability of advanced manufacturing and production facilities in the region. Vegan cheese sales in the region will continue to proliferate on account of the growing demand for healthy ready-to-eat snacks.
Further, vegan cheese sales are estimated to grow along similar lines in Western Europe and the region is estimated to gain a substantial share of the market in the foreseeable future. Increase in disposable income and growing awareness regarding health is anticipated to guide the expansion of the vegan cheese market in APEJ and MEA regions.
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Vegan Cheese Market – Segmentation
The vegan cheese market can be segmented on the basis of product type, product form, source, end use, and distribution channel.
On the basis of product type, the vegan cheese market can be segmented into parmesan, mozzarella, ricotta, cream cheese, and cheddar.
Based on product form, the vegan cheese market can be segmented into slices, blocks and wedges, and shreds.
On the basis of the end-use industry, the vegan cheese market can be segmented into foodservice, food processing, and retail and household.
Based on the source, the vegan cheese market can be segmented into coconut, almond, soy, cashew, and other types like pine nuts.
Based on the distribution channel, the vegan cheese market can be segmented into direct sales and indirect sales.
Vegan Cheese Market – Competitive Landscape
Some of the leading market players operating in the vegan cheese market include Kite Hill, Daiya Foods Inc., Go Veggie, Mad Millie, UPrise Foods, Nush, Tesco Free From, Follow Your Heart, Field Roast Grain Meat Co., Punk Rawk Labs, Miyoko’s Kitchen, Inc., Wayfare inc., Good Planet Foods, Regal Vegan, Vermont Farmstead, Tofutti, Bute Island Foods Ltd., Galaxy Nutritional Foods, Inc., Kinda Co., So Delicious Dairy Free, SEROTONINA, and Reine Vegan Cuisine.