Summary

The global vegan cheese market is on the brink of remarkable growth, with forecasts indicating an increase from US$24.2 Mn in 2024 to an impressive US$85.2 Mn by 2031. This anticipated growth translates to a robust compound annual growth rate (CAGR) of 19.7%. The surge in demand for plant-based alternatives is primarily driven by shifting consumer preferences, heightened health awareness, and the rising popularity of veganism across various demographics.

Market Insights

The vegan cheese market has evolved significantly, beginning with a modest valuation and demonstrating a steady growth trajectory over recent years. The market has shown a notable compound annual growth rate, highlighting the increasing consumer inclination toward plant-based products. This upward trend underscores a growing awareness among individuals regarding their health, the environment, and animal welfare, driving the demand for vegan cheese.

Social media has played a pivotal role in this transformation, with influencers and food bloggers showcasing innovative recipes featuring vegan cheese, further enticing consumers to try these dairy alternatives. The impact of the COVID-19 pandemic has also accelerated this trend, as health-conscious consumers gravitated toward plant-based options, leading to a substantial increase in the plant-based food trade.

Key Market Drivers

1.Health Consciousness: The rising consumer awareness regarding health benefits associated with vegan cheese, such as its high protein and calcium content, is a significant driver of market growth. Many consumers are increasingly concerned about obesity and cholesterol-related issues, prompting them to seek alternatives to traditional dairy products. Vegan cheese serves as a substantial alternative for individuals pursuing healthier lifestyles, further boosting its demand.

2.Adoption of Veganism: The growing acceptance and adoption of veganism, particularly among millennials, have broadened the consumer base for vegan cheese. As more individuals choose to reduce or eliminate their consumption of animal products, the demand for vegan cheese has surged. Manufacturers are continuously enhancing the taste, texture, and melting capabilities of vegan cheese to replicate the qualities of traditional dairy cheese, which contributes to the overall growth of the market.

3.Product Innovation: The innovative introduction of diverse vegan cheese products featuring unique flavors, textures, and formulations has captivated consumers. The market now offers an array of options, including smoky flavors, aged varieties, and artisanal cheeses, appealing to a wide range of taste preferences. This expanded product offering enhances market appeal and encourages more consumers to incorporate vegan cheese into their diets.

Business Opportunities

The increasing adoption of vegetarian and vegan diets presents promising opportunities for market expansion, particularly in the hotel, restaurant, and cafe sectors. An illustrative example of this trend can be seen in the establishment of vegan restaurants across the Saudi Arabian region, which are aimed at promoting healthier lifestyles. As more individuals embrace plant-based diets, the demand for vegan cheese is expected to rise significantly.

Furthermore, the growing lactose-intolerant population, which constitutes over 65% of the global population, drives demand for vegan cheese. To cater to this segment, many large retailers have made significant investments in manufacturing units and product development. This increasing introduction of plant-based products will likely create ample opportunities for manufacturers to capitalize on the demand.

Regional Highlights

•Europe: The region has seen a notable surge in the demand for vegan cheese, driven by an increased interest in plant-based diets, heightened health consciousness, ethical values, and environmental concerns. Europe has a significant population of vegans, vegetarians, and flexitarians actively seeking alternatives to traditional dairy products. The emergence of dedicated vegan shops and the expansion of online platforms catering to plant-based options further enhance market accessibility.

•North America & Asia-Pacific: These regions are also experiencing considerable growth, driven by an increase in vegan-friendly retail outlets and online platforms that offer diverse product ranges. Supermarkets and hypermarkets play a vital role in providing easy access to a variety of vegan cheese options.

Key Players

The vegan cheese market is highly competitive, with prominent companies actively investing in research and development, product innovation, and strategic partnerships. Key players include:

•Daiya Foods Inc.

•Galaxy Nutritional Foods Inc. (Greenspace Brands Inc.)

•Good Planet Foods LLC

•Kite Hill

•Miyoko's Creamery

•Violife Foods

•Follow Your Heart

•Bute Island Foods Ltd.

•Danone S.A.

Market Segmentation

By Distribution Channel:

•Supermarkets and Hypermarkets

•Convenience Stores

•Online Stores

•Others

By Source:

•Soy

•Almond

•Coconut

•Cashew

•Others

By Product Type:

•Mozzarella

•Cheddar

•Parmesan

•Ricotta

•Cream

•Others

By Region:

•North America

•Latin America

•Europe

•East Asia

•South Asia

•Oceania

•Middle East & Africa

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Table of Contents

1. Executive Summary
1.1. Global Vegan Cheese Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Key-Use Cases Analysis
2.6. Regulatory Landscape
2.7. COVID-19 Impact Analysis
2.7.1. Supply
2.7.2. Demand
2.8. Economic Overview
2.8.1. World Economic Projections
2.9. PESTLE Analysis
3. Price Trend Analysis
3.1. Key Highlights
3.2. Global Average Price Analysis, by Product Type, US$ per Gm
3.3. Prominent Factors Affecting Vegan Cheese Prices
3.4. Global Average Price Analysis, by Region, US$ per Gm
4. Global Vegan Cheese Market Outlook, 2019 - 2031
4.1. Global Vegan Cheese Market Outlook, by Product Type, Value (US$ Mn), 2019 - 2031
4.1.1. Key Highlights
4.1.1.1. Mozzarella
4.1.1.2. Cheddar
4.1.1.3. Parmesan
4.1.1.4. Ricotta
4.1.1.5. Cream
4.1.1.6. Misc.
4.2. Global Vegan Cheese Market Outlook, by Source, Value (US$ Mn), 2019 - 2031
4.2.1. Key Highlights
4.2.1.1. Soy
4.2.1.2. Almond
4.2.1.3. Coconut
4.2.1.4. Cashew
4.2.1.5. Misc.
4.3. Global Vegan Cheese Market Outlook, by Distribution Channel, Value (US$ Mn), 2019 - 2031
4.3.1. Key Highlights
4.3.1.1. Supermarkets and Hypermarkets
4.3.1.2. Convenience Stores
4.3.1.3. Online Stores
4.3.1.4. Specialty Stores
4.3.1.5. Misc.
4.4. Global Vegan Cheese Market Outlook, by Region, Value (US$ Mn), 2019 - 2031
4.4.1. Key Highlights
4.4.1.1. North America
4.4.1.2. Europe
4.4.1.3. Asia Pacific
4.4.1.4. Latin America
4.4.1.5. Middle East & Africa
4.4.2. BPS Analysis/Market Attractiveness Analysis
5. North America Vegan Cheese Market Outlook, 2019 - 2031
5.1. North America Vegan Cheese Market Outlook, by Product Type, Value (US$ Mn), 2019 - 2031
5.1.1. Key Highlights
5.1.1.1. Mozzarella
5.1.1.2. Cheddar
5.1.1.3. Parmesan
5.1.1.4. Ricotta
5.1.1.5. Cream
5.1.1.6. Misc.
5.2. North America Vegan Cheese Market Outlook, by Source, Value (US$ Mn), 2019 - 2031
5.2.1. Key Highlights
5.2.1.1. Soy
5.2.1.2. Almond
5.2.1.3. Coconut
5.2.1.4. Cashew
5.2.1.5. Misc.
5.3. North America Vegan Cheese Market Outlook, by Distribution Channel, Value (US$ Mn), 2019 - 2031
5.3.1. Key Highlights
5.3.1.1. Supermarkets and Hypermarkets
5.3.1.2. Convenience Stores
5.3.1.3. Online Stores
5.3.1.4. Specialty Stores
5.3.1.5. Misc.
5.4. North America Vegan Cheese Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
5.4.1. Key Highlights
5.4.1.1. U.S. Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
5.4.1.2. U.S. Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
5.4.1.3. U.S. Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
5.4.1.4. Canada Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
5.4.1.5. Canada Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
5.4.1.6. Canada Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Europe Vegan Cheese Market Outlook, 2019 - 2031
6.1. Europe Vegan Cheese Market Outlook, by Product Type, Value (US$ Mn), 2019 - 2031
6.1.1. Key Highlights
6.1.1.1. Mozzarella
6.1.1.2. Cheddar
6.1.1.3. Parmesan
6.1.1.4. Ricotta
6.1.1.5. Cream
6.1.1.6. Misc.
6.2. Europe Vegan Cheese Market Outlook, by Source, Value (US$ Mn), 2019 - 2031
6.2.1. Key Highlights
6.2.1.1. Soy
6.2.1.2. Almond
6.2.1.3. Coconut
6.2.1.4. Cashew
6.2.1.5. Misc.
6.3. Europe Vegan Cheese Market Outlook, by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.3.1. Key Highlights
6.3.1.1. Supermarkets and Hypermarkets
6.3.1.2. Convenience Stores
6.3.1.3. Online Stores
6.3.1.4. Specialty Stores
6.3.1.5. Misc.
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Europe Vegan Cheese Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
6.4.1. Key Highlights
6.4.1.1. Germany Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.2. Germany Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.3. Germany Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.1.4. U.K. Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.5. U.K. Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.6. U.K. Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.1.7. France Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.8. France Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.9. France Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.1.10. Italy Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.11. Italy Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.12. Italy Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.1.13. Turkey Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.14. Turkey Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.15. Turkey Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.1.16. Russia Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.17. Russia Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.18. Russia Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.1.19. Rest of Europe Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
6.4.1.20. Rest of Europe Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
6.4.1.21. Rest of Europe Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Asia Pacific Vegan Cheese Market Outlook, 2019 - 2031
7.1. Asia Pacific Vegan Cheese Market Outlook, by Product Type, Value (US$ Mn), 2019 - 2031
7.1.1. Key Highlights
7.1.1.1. Mozzarella
7.1.1.2. Cheddar
7.1.1.3. Parmesan
7.1.1.4. Ricotta
7.1.1.5. Cream
7.1.1.6. Misc.
7.2. Asia Pacific Vegan Cheese Market Outlook, by Source, Value (US$ Mn), 2019 - 2031
7.2.1. Key Highlights
7.2.1.1. Soy
7.2.1.2. Almond
7.2.1.3. Coconut
7.2.1.4. Cashew
7.2.1.5. Misc.
7.3. Asia Pacific Vegan Cheese Market Outlook, by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.3.1. Key Highlights
7.3.1.1. Supermarkets and Hypermarkets
7.3.1.2. Convenience Stores
7.3.1.3. Online Stores
7.3.1.4. Specialty Stores
7.3.1.5. Misc.
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Asia Pacific Vegan Cheese Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
7.4.1. Key Highlights
7.4.1.1. China Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
7.4.1.2. China Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
7.4.1.3. China Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.4.1.4. Japan Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
7.4.1.5. Japan Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
7.4.1.6. Japan Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.4.1.7. South Korea Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
7.4.1.8. South Korea Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
7.4.1.9. South Korea Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.4.1.10. India Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
7.4.1.11. India Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
7.4.1.12. India Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.4.1.13. Southeast Asia Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
7.4.1.14. Southeast Asia Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
7.4.1.15. Southeast Asia Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.4.1.16. Rest of Asia Pacific Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
7.4.1.17. Rest of Asia Pacific Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
7.4.1.18. Rest of Asia Pacific Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Latin America Vegan Cheese Market Outlook, 2019 - 2031
8.1. Latin America Vegan Cheese Market Outlook, by Product Type, Value (US$ Mn), 2019 - 2031
8.1.1. Key Highlights
8.1.1.1. Mozzarella
8.1.1.2. Cheddar
8.1.1.3. Parmesan
8.1.1.4. Ricotta
8.1.1.5. Cream
8.1.1.6. Misc.
8.2. Latin America Vegan Cheese Market Outlook, by Source, Value (US$ Mn), 2019 - 2031
8.2.1. Key Highlights
8.2.1.1. Soy
8.2.1.2. Almond
8.2.1.3. Coconut
8.2.1.4. Cashew
8.2.1.5. Misc.
8.3. Latin America Vegan Cheese Market Outlook, by Distribution Channel, Value (US$ Mn), 2019 - 2031
8.3.1. Key Highlights
8.3.1.1. Supermarkets and Hypermarkets
8.3.1.2. Convenience Stores
8.3.1.3. Online Stores
8.3.1.4. Specialty Stores
8.3.1.5. Misc.
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Latin America Vegan Cheese Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
8.4.1. Key Highlights
8.4.1.1. Brazil Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
8.4.1.2. Brazil Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
8.4.1.3. Brazil Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
8.4.1.4. Mexico Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
8.4.1.5. Mexico Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
8.4.1.6. Mexico Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
8.4.1.7. Argentina Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
8.4.1.8. Argentina Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
8.4.1.9. Argentina Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
8.4.1.10. Rest of Latin America Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
8.4.1.11. Rest of Latin America Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
8.4.1.12. Rest of Latin America Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Middle East & Africa Vegan Cheese Market Outlook, 2019 - 2031
9.1. Middle East & Africa Vegan Cheese Market Outlook, by Product Type, Value (US$ Mn), 2019 - 2031
9.1.1. Key Highlights
9.1.1.1. Mozzarella
9.1.1.2. Cheddar
9.1.1.3. Parmesan
9.1.1.4. Ricotta
9.1.1.5. Cream
9.1.1.6. Misc.
9.2. Middle East & Africa Vegan Cheese Market Outlook, by Source, Value (US$ Mn), 2019 - 2031
9.2.1. Key Highlights
9.2.1.1. Soy
9.2.1.2. Almond
9.2.1.3. Coconut
9.2.1.4. Cashew
9.2.1.5. Misc.
9.3. Middle East & Africa Vegan Cheese Market Outlook, by Distribution Channel, Value (US$ Mn), 2019 - 2031
9.3.1. Key Highlights
9.3.1.1. Supermarkets and Hypermarkets
9.3.1.2. Convenience Stores
9.3.1.3. Online Stores
9.3.1.4. Specialty Stores
9.3.1.5. Misc.
9.3.2. BPS Analysis/Market Attractiveness Analysis
9.4. Middle East & Africa Vegan Cheese Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
9.4.1. Key Highlights
9.4.1.1. GCC Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
9.4.1.2. GCC Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
9.4.1.3. GCC Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
9.4.1.4. South Africa Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
9.4.1.5. South Africa Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
9.4.1.6. South Africa Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
9.4.1.7. Egypt Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
9.4.1.8. Egypt Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
9.4.1.9. Egypt Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
9.4.1.10. Nigeria Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
9.4.1.11. Nigeria Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
9.4.1.12. Nigeria Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
9.4.1.13. Rest of Middle East & Africa Vegan Cheese Market by Product Type, Value (US$ Mn), 2019 - 2031
9.4.1.14. Rest of Middle East & Africa Vegan Cheese Market by Source, Value (US$ Mn), 2019 - 2031
9.4.1.15. Rest of Middle East & Africa Vegan Cheese Market by Distribution Channel, Value (US$ Mn), 2019 - 2031
9.4.2. BPS Analysis/Market Attractiveness Analysis
10. Competitive Landscape
10.1. Company Market Share Analysis, 2024
10.2. Competitive Dashboard
10.3. Company Profiles
10.3.1. Daiya Foods Inc.
10.3.1.1. Company Overview
10.3.1.2. Product Portfolio
10.3.1.3. Financial Overview
10.3.1.4. Business Strategies and Development
10.3.2. Violife Foods
10.3.2.1. Company Overview
10.3.2.2. Product Portfolio
10.3.2.3. Financial Overview
10.3.2.4. Business Strategies and Development
10.3.3. Miyoko’s Creamery
10.3.3.1. Company Overview
10.3.3.2. Product Portfolio
10.3.3.3. Financial Overview
10.3.3.4. Business Strategies and Development
10.3.4. Treeline Treenut Cheese
10.3.4.1. Company Overview
10.3.4.2. Product Portfolio
10.3.4.3. Financial Overview
10.3.4.4. Business Strategies and Development
10.3.5. Kite Hill
10.3.5.1. Company Overview
10.3.5.2. Product Portfolio
10.3.5.3. Financial Overview
10.3.5.4. Business Strategies and Development
10.3.6. Follow Your Heart
10.3.6.1. Company Overview
10.3.6.2. Product Portfolio
10.3.6.3. Financial Overview
10.3.6.4. Business Strategies and Development
10.3.7. Tofutti Brands Inc.
10.3.7.1. Company Overview
10.3.7.2. Product Portfolio
10.3.7.3. Financial Overview
10.3.7.4. Business Strategies and Development
10.3.8. Good Planet Foods LLC
10.3.8.1. Company Overview
10.3.8.2. Product Portfolio
10.3.8.3. Financial Overview
10.3.8.4. Business Strategies and Development
10.3.9. Parmela Creamery
10.3.9.1. Company Overview
10.3.9.2. Product Portfolio
10.3.9.3. Financial Overview
10.3.9.4. Business Strategies and Development
10.3.10. Tyne Chease Limited
10.3.10.1. Company Overview
10.3.10.2. Product Portfolio
10.3.10.3. Financial Overview
10.3.10.4. Business Strategies and Development
11. Appendix
11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations