By 2033, the worldwide demand for vegan cheese sauce is projected to have grown from its 2023 valuation of US$ 100.9 Mn to US$ 192.3 Mn.
The increasing number of vegans in the population, especially among the youth, has contributed to the growth of the vegan cheese saucemarket. Now that people know how the dairy business treats animals and the environment, they’re less likely to support it and more likely to opt for plant-based alternatives.
As a result, experts predict that the vegan cheese sauce market is expected to expand at a CAGR of 7.4%, with the United Kingdom, the United States, Germany, and Japan rising to prominence as major suppliers.
Rising numbers of flexitarians and vegans, as well as increased public outcry over the ethical treatment of animals, are expected to fuel demand for vegan cheese sauce over the next few years. Including vegan cheese in one’s diet is beneficial to health. Furthermore, plant-based diets are trending in popularity among lactose intolerant and dairy allergy individuals. Like dairy, plant foods are a good source of protein, vitamins, and carbs.
The hospitality and restaurant sectors have been major drivers of the vegan cheese sauce market, with more and more hotels, restaurants, and fast-food chains identifying their products as vegan cheese sauce and offering appetisers using vegan cheese sauce. Moreover, the expansion of the urban and millennial populations, both of which represent a large and growing market for the product, is a significant element in its development. The younger generation is health-conscious and learning about the advantages of dairy-free alternatives like cheese.
Key Takeaways
- The soymilk segment is expected to have a share of 28.2%.
- Shifting consumer dietary tastes and shifting food and beverage sector trends are boosting global demand for vegan cheese sauce.
- Japan vegan cheese sauce market is expected to grow at a rate of 5.6%.
- During the anticipated period, the supermarket segment holds the largest share of the global market. This is mostly because supermarkets provide superior self-service and excellent shopping convenience.
Competitive Analysis
To extend their foothold in the vegan cheese sauceindustry, boost profits, and keep up with the competition, key players have turned to a variety of innovative approaches. Bute Island Foods Ltd., GreenSpace Brands, violifefoods.com, Vtopian Artisan Cheeses., Chicago Vegan Foods, Gardener Cheese Company, Tofutti Brands Inc., Kite Hill, DAIYA FOODS INC., and Nush Foods are only few of the major players in the market.
Key Segments
By Source:
- Almond Milk
- Soy Milk
- Coconut Milk
- Cashew Milk
- Others
By 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
By Nature:
- Conventional
- Organic
By Sales Channel:
- Direct Sales
- Indirect Sales
- Hypermarkets/Supermarkets
- Convenience Stores
- Speciality Retail Stores
- Traditional Grocery Stores
- Online Retailers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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