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.
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.
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.
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.
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.
A recent report released by Persistence Market Research titled “Global Market Study on Vegan Cheese: Demand to Rise as Veganism Goes Mainstream” offers detailed and valuable insights into the vegan cheese market. The study provides an in-depth analysis of the vegan cheese market in addition to an authentic and accurate forecast of the vegan cheese market. It analyzes the market in terms of both volume and value. The report sheds light on the macroeconomic factors influencing the performance of the market which includes a global market outlook of the food and beverages industry. Additionally, the report provides a comprehensive qualitative and quantitative assessment of all the market facets such as market drivers, threats, restraints, challenges, and opportunities. The study also outlines the evolving consumer buying pattern and presents the lucrative opportunities available in the vegan cheese market.
Vegan Cheese Market – Executive Summary
The report on vegan cheese market commences with an executive summary which provides brief yet affluent information about the market. It helps readers familiarize with the vegan cheese market by providing key facts and figures associated with it. It also includes exclusive recommendations from PMR analysts which can be leveraged to gain an edge over the other competitors in the market.
Vegan Cheese Market – Introduction and Background
The report provides a detailed introduction of the vegan cheese market which includes definition and detailed market taxonomy. Further, the report provides a comprehensive assessment of all the macroeconomic factors influencing vegan cheese market growth. A detailed analysis of the plant-based food market has also been included in the report. In addition to this, all the key market dynamics such as drivers, threats, opportunities, challenges, and restraints have been provided in the report. Value chain analysis, pricing analysis, and production overview have also been included in the report.
Vegan Cheese Market – Analysis and Forecast
An in-depth analysis and forecast of the vegan cheese market on the basis of region, product type, product form, distribution channel, and end-used industry has been provided in the report. A comprehensive quantitative and qualitative analysis of each of the segments has been provided in the report. Each segment has been assessed on the basis of value, volume, and absolute dollar opportunity. Based on the region, the vegan cheese market can be segmented into North America, Western Europe, Eastern Europe, APEJ, Latin America, Japan, and MEA. A country-wise assessment of the vegan cheese market under each stated region has been propounded in the report. Market attractiveness analysis for each region has also been included in the report.
Vegan Cheese Market – Competitive Landscape Assessment
The vegan cheese market report provides a detailed assessment of the competitiveness prevalent in the market. All the prominent players operating in the vegan cheese market are identified under this section. Detailed profiles of each of the identified leading player shed light on their market presence, strengths, weaknesses, strategies, global footprint, revenue share, and notable business developments. The information provided under this section can be leveraged by stakeholders and business professionals to streamline their strategies and tap into the extensive consumer base of the prominent market players.
Vegan Cheese Market – Research Methodology
The elaborate and robust research methodology employed during the compilation of the report has been thoroughly explained in the report. A two-step research process was used to gain valuable insights into the market. The two steps involved during the compilation of the report were primary and secondary researches. While the primary research phase involved interviewing industry savants and company case studies, secondary research was conducted by thoroughly studying trade journals, company press releases, paid sources, and other industry-related publications. Results from both the phases of research were cross-referenced to produce an accurate and authentic forecast of the vegan cheese market.