Newark, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.7 Billion in 2022 vegan cheese market will reach USD 9.1 Billion by 2032. The public's increased awareness of the harm that the dairy industry causes to the environment and of animal abuse is pushing consumers to choose products made from plants. During this time, the market for vegan food products has grown significantly.
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 2.7 Billion |
| Market Size in 2032 | USD 9.1 Billion |
| CAGR | 12.8% |
| No. of Pages in Report | 236 |
| Segments Covered | Source, Product, End-use |
| Drivers | Rise in concerns regarding animal cruelty |
| Opportunities | Increase the selection of vegan cheese items on the market |
| Restraints | More costly than dairy cheese |
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Key Insight of the Vegan Cheese Market
Europe emerged as the most significant market, with 36.1% market revenue share in 2022.
Europe dominated the market, with a market share of around 36.1% in 2022. As a result of growing awareness of animal cruelty and the region's rising carbon footprint from the consumption of commodities generated from animals, such as milk, honey, eggs, cattle, pigs, and shellfish, customers are choosing more environmentally friendly and vegan alternatives.
The cashew segment accounted for the largest market share of 37.2% in 2022.
The cashew segment dominated the market, with a market share of around 37.2% in 2022. Cashew-based vegan cheese is low in fat and high in vitamins B2 and B12. Because of this, it is well-liked by people worldwide who are concerned about their health.
The mozzarella segment accounted for the largest market share of 31.6% in 2022.
The mozzarella segment dominated the market, with a market share of around 31.6% in 2022. Mozzarella cheese is a typical topping for pizzas, and the market for vegan mozzarella has grown as a result of the growing demand for vegan pizzas.
The B2C segment accounted for the largest market share of 52.3% in 2022.
The B2C segment dominated the market, with a market share of around 52.3% in 2022. Plant-based products have become more popular in the business-to-consumer (B2C) sector due to factors like increased disposable income levels and consumers' desire to spend money on high-end goods. The easy access to products in supermarkets and convenience stores has also contributed to the growth of this market.
Market Dynamics
Driver: Rise in concerns regarding animal cruelty
Because they are worried about the treatment of animals in the dairy industry, a lot of individuals are searching for cruelty-free alternatives. For those who would rather not support the mistreatment of animals, vegan cheese provides a morally sound alternative since it is made entirely of plant-based ingredients. Additionally, consumer choices have been impacted by rising awareness of the health benefits of plant-based diets. Since vegan cheese is typically lower in saturated fats, cholesterol-free, and lactose-free than traditional dairy cheese, it is a suitable substitute for those who are concerned about their health.
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Some of the major players operating in the vegan cheese market are:
• Dr-Cow Tree Nut Cheese
• Tofutti Brands, Inc.
• Tyne Cheese Limited
• Miyoko's Creamery
• Parmela Creamery
• Treeline Cheese
• Follow Your Heart
• Daiya Foods Inc.
• Kite Hill
• Violife
Key Segments cover in the market:
By Source:
• Soy
• Cashew
• Almond
• Coconut
• Others
By Product:
• Cheddar
• Parmesan
• Cream Cheese
• Mozzarella
• Ricotta
• Others
By End-Use:
• B2B
• B2C
By Region
• Asia Pacific (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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