TORONTO, April 25, 2023 (GLOBE NEWSWIRE) -- "" is a new report from Data Bridge Market Research that thoroughly explores growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive environment in the market. The Vegan Cheese market research report offers a comprehensive analysis of the industry, covering various aspects such as customer insights, market sizing and forecast, competitive analysis, market entry strategy, pricing trends, sustainability trends, innovation trends, technology evolution, and distribution channel assessment. The report also includes historic data, present and future market trends, environment, technological innovation, upcoming technologies, and the technical progress in the related industry. This report is designed to provide a complete understanding of the market for both established and new players in the industry. It has been prepared with the most up-to-date insights and analysis to provide maximum benefits to the Vegan Cheese industry.
The Vegan Cheese market analysis report is a professional effort to understand the growth of the market in the coming years. The research studies included in this report help estimate several important aspects, including but not limited to investment in a rising market, success of a new product, and expansion of market share. The report uses key data and information collected from consistent sources such as journals, websites, research papers, case studies, and magazines. The main objective of the report is to study and forecast the market size in the global market.
Data Bridge Market Research analyses that the vegan cheese market is expected to reach USD 10.61 billion by 2030, which was USD 2.86 billion in 2022, registering a CAGR of 17.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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is a non-dairy food product mainly consumed by vegan people who do not want to consume any animal product. It is considered to be cholesterol-free and rich in protein. Vegan cheese is obtained from different sources and is available in various types. The most popular method for preparing vegan cheese is fermentation, where tree nuts are soaked in water for approximately 36 hours.
In the last few years, the food service industry has been considerably contributing to the growth of the vegan cheese market because fast-food outlets, hotel, and restaurants are labeling their products with vegan cheese. Moreover, growth in millennial and urbanized populations, which are potential consumer groups, are majorly influencing factors for the growth of the vegan cheese market. Nowadays, the young population is more concerned about their health and getting aware of the advantageous benefits of vegan cheese in the market.
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Vegan Cheese market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.
Leading businesses in the Vegan Cheese Industry are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
Opportunities:
- Increasing inclination towards veganism and vegetarian diet among millennials
The growing inclination toward a vegetarian diet and veganism among millennials is expected to increase the demand for vegan cheese in the hotel/restaurant/café (HoReCa) sector. For instance, vegan restaurants were established across the Saudi Arabian region to promote a healthy lifestyle. Therefore, increasing inclination towards veganism and vegetarianism among people is expected to create lucrative opportunities for market growth.
- Growing introduction of plant-based product
The lactose Intolerant population covers the largest share of demand for vegan cheese, over 65 percent of the population. To meet such demand, many large retailers have introduced various product ranges in plant-based products such as vegan cheese with significant investment in manufacturing units. In response to the high demand for vegan cheese, manufacturers are placing a variety of vegan cheeses such as cranberry, caramel, and blueberry, among many others. Therefore, increasing the introduction of the plant-based product will likely create ampler opportunities for the manufacturers within the market.
Some of the major players operating in the vegan cheese market are:
- Nush Foods (U.S.)
- Daiya Foods Inc. (Canada)
- Gardners Wisconsin Cheese and Sausage (U.S.)
- Ausnutria Dairy Corporation Ltd. (China)
- AVH Dairy Trade B.V (Netherlands)
- Plant-Based Partners (U.S)
- Granarolo S.p.A. (Italy)
- Meyenberg (U.S)
- Redwood Hill Farm & Creamery (U.S)
- St Helen's Farm Ltd (U.S)
- Stickney Hill Dairy Inc (U.S)
- Woolwich Dairy Inc (U.S)
- Xi'an Baiyue Plant-Based Dairy Group Co. Ltd (China)
- Kite Hill (U.S.)
- Parmela Creamery (U.S.)
- Uhrenholt A/S (Denmark)
- Reine LLC (U.S.)
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Recent Development
- In 2021, Violife started its partnership with Quantis to analyze the level of carbon emissions from vegan cheese vs. dairy cheese. The study showed that moving to dairy-free cheese would decrease our carbon footprint by 50 percent. Further research uncovered that dairy cheese was one of the major contributors to greenhouse gases, greater than the emissions produced from pork, chicken, and eggs.
- In 2021, Upfield announced the introduction of a vegan cheese brand Violife in the Middle East. This brand is an allergen-free food product, a substitute range to dairy, and would be available in several forms such as boxes, slices, and grated in two flavors such as mozzarella and cheddar.
- In 2020, Treeline Cheese introduced a line of plant-based cream cheese products made using cultured cashew nuts and several other plant-based ingredients. It is mainly available in three flavors: chive and onion, plain and strawberry.
The investment made in the study would provide you access to information such as:
- Vegan Cheese Market [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size by application/industry verticals
- Market Projections/Forecast
Market Segmentation Covered in Vegan Cheese Research Report:
Product Type
- Parmesan
- Mozzarella
- Ricotta
- Cream Cheese
- Cheddar
Product Form
- Slices
- Blocks and Wedges
- Shreds
Source
- Coconut
- Almond
- Soy
- Rice
- Cashew
- Peanut
- Pine Nuts
- Hazelnut
Distribution Channel
- Hypermarkets
- Supermarkets
- Convenience Stores
- Specialty Stores
- Retail Stores
- Online
End Use Industry
- Food Servicing
- Food Processing
- Retail and Household
Key Industry Drivers:
- Increasing consumer awareness regarding the health benefits of vegan cheese
Growing consumer awareness regarding the health benefits of vegan cheese, such as its high protein and calcium content, is a major factor likely to propel the market growth. Obesity and cholesterol problems are becoming more prevalent globally because of changing eating habits. Consumers are becoming more health conscious, which is growing demand for vegan cheese. Vegan cheese has emerged as a significant substitute for dairy cheese for vegan people and is expected to grow rapidly during the forecast period.
- Growing usage of mozzarella cheese in the food industry
The mozzarella segment covered the largest revenue share and is expected to maintain its lead from 2023 to 2030. Mozzarella is extensively used in Italian dishes, such as Caprese salad, pasta, pizzas and croquettes is available in the form of shredded slices, cubes, and spreads. The demand for mozzarella is increasing significantly, where Italian cuisine is popular. Therefore, growing mozzarella cheese usage in the food industry will likely drive market growth.
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Vegan Cheese Market Regional Analysis/Insights:
The countries covered in the vegan cheese market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the vegan cheese market because of the increasing focus of the manufacturers on product innovations in this region. Furthermore, the growing vegan population, because of increasing awareness regarding vegan cheese in this region, will further boost the market growth.
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030, increasing demand for organic and natural plant-based food products in this region. Moreover, the increasing trend of eating out and severe changes in food preferences will further boost the market growth in this region.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Vegan Cheese market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Overview
- Global Vegan Cheese Market, By Product Type
- Global Vegan Cheese Market, By Product Form
- Global Vegan Cheese Market, By Source
- Global Vegan Cheese Market, By End User
- Global Vegan Cheese Market, By Distribution Channel
- Global Vegan Cheese Market, By Region
- Global Vegan Cheese Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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