In 2024, the market for vegan cheese is expected to be valued at US$ 3,467 million. Vegan cheese, sometimes referred to as plant-based cheese, dairy-free cheese, cruelty-free cheese, or cheese alternative, is extremely well-liked by the general public. Their popularity is growing as more consumers select foods that are cruelty-free, environmentally friendly, and have qualities similar to those of conventional food options.
Over ten years, the industry is expected to grow at a compound annual growth rate (CAGR) of 9% and reach a valuation of US$ 8,231 million by 2034. The market is expected to grow positively as more companies launch distinctive lines of mouthwatering dairy-free cheese.
Millennials in particular are becoming more accepting of veganism, which has sparked industry growth. Due to increased public awareness of animal cruelty and the negative environmental effects of the dairy industry, consumers are increasingly choosing products that are made from plants.
Vegan cheese often contains less fat and is gluten-free than normal cheese. One of the main factors driving the market expansion is the huge increase in the consumption of Ready-To-Eat (RTE) packaged vegan food and drinks as well as gluten-free and plant-based diets.
Players are introducing product variants that have undergone minimal processing and are high in healthy fats, fiber, and micronutrients. Also, they are forming partnerships with fast food chains to provide vegan cheese-based pizza, cream cheese, and cheesecake. The market will be fueled by the increasing prevalence of lactose intolerance and the simpler accessibility of dairy-free products. Along with the growing trend of purchasing vegan cheese through online distribution channels, which offer simple product availability, comprehensive catalogs, and expedited shipping options, this is assisting in boosting the market. In the upcoming years, it is anticipated that protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms are likely to have a positive impact on vegan cheese sales.
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Market is majorly controlled by few selected firms
The vegan cheese market has expanded quickly during the past ten years. Due to the presence of numerous companies, the vegan cheese industry is fragmented. These participants employ a variety of methods, such as mergers and acquisitions, partnerships, and collaborations, which directly contribute to the market growth for vegan cheese globally.
Latest Developments
India’s Goodmylk announced in March 2022 that it has purchased the nutrition company PRO2FIT. The acquisition of PRO2FIT denotes development in the expanding alternative protein market in India. In their efforts to make plant-based food and nutrition available to everyone, both brands saw synergies.
Upfield Group, a manufacturer of plant-based butter and spreads, said in January 2020 that it had acquired Arivia, a company that makes dairy-free cheese.
Through this tactical acquisition, Arivia and its VIOLIFE brand will join other well-known brands including Flora, Rama, Country Crock, Blue Band, and Proactiv in the Upfield Group of companies.
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Key Segments Covered in the Vegan Cheese Market Report
Product Type:
- Mozzarella
- Parmesan
- Cheddar
- Cream Cheese
- Ricotta
- Others
Form:
- Shreds
- Blocks and Wedges
- Slices
Source:
- Almond Milk
- Soy Milk
- Coconut Milk
- Cashew Milk
- Others
End-Use:
- Food Processing
- Baked Goods
- Sauces, Dips and Dressings
- Snacks
- Processed and Packed Foods
- Ready Meals
- Dairy and Desserts
- Food Service/HoReCa (Hotels, Restaurant, Cafes)
- Household/Retail
Nature:
- Conventional
- Organic
Sales Channel:
- Direct Sales
- Indirect Sales
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Retail Stores
- Traditional Grocery Stores
- Online Retailers
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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