USD 2.07 billion
Report ID: SQMIG30I2069 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 63 | Figures: 75
Global Cheese Analogue Market size was valued at USD 2.07 billion in 2021 and is poised to grow from USD 2.2 billion in 2022 to USD 3.85 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).
Cheese analogue, commonly referred to as imitation cheese or replacement cheese, shares similarities with milk cheese in terms of composition, appearance, and intended use. Vegetable oils, fats, and proteins including soybean, palm, peanut, and others are sold in the cheese analogue market to partially or completely replace milk protein and milk fat. Due to the fact that they frequently contain less fat, trans-fat, cholesterol, and calories, they have become incredibly popular among food manufacturers.
Additionally, because they are included in a variety of foods like pizza, lasagne, spaghetti, and others, they have a wide range of types and applications in the food sector. Due to their plentiful supply, cost-effectiveness, and adaptability, they are often used in frozen meals and other convenience foods. The demand will therefore continue to grow in the coming years as a result of their rising popularity and extensive use in the food business.
US Cheese Analogue Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.07 billion
Bakery & Confectionary
Bakery & Confectionary
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The Global Cheese Analogue Market is segmented based on type, application and region. Based on Type, it is categorized into: Non-dairy Cheese Analogues, Dairy Cheese Analogues and Partial Dairy Analogues. Based on Application, it is categorized into: Bakery & Confectionery, Breakfast Cereals and Animal Feed. Based on region, Cheese Analogue Market is categorized into: North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Cheese Analogue Market Analysis by Type
On the basis of type, the non-dairy cheese substitute market sector currently maintains the majority of cheese analogue market share, due to the increasing demand for plant-based foods around the world. It will create a number of new prospects for its use in different vegan food products. Additionally, because they need straightforward production processes, a variety of non-dairy cheese products are seeing a marked increase in demand from numerous end-use sectors. The availability of the raw materials required to make them as well as the efficiency of the whole manufacturing process will likely help this market segment grow.
In the upcoming years, the dairy cheese market is probably going to rise significantly. They contain a well-balanced mix of dairy proteins, including casein, butter oil, cheese that has undergone enzyme modification, and others. They are one of the most sought-after cheese alternatives since they have the nutritive value and flavor of cheese and are quite inexpensive.
Cheese Analogue Market Analysis by Application
On the basis of application, the primary segment is expected to be bakery products which are dominating the Global Cheese Analogue Market. These cheese replacements are typically added as toppings and fillings to baked goods to improve their texture and sensory qualities. They are used as spreads on bagels and crackers, to make icing, to blend with dips, and in sandwiches and burgers. Due to the rising popularity of goods like pasta and noodles, the group of foods based on cereals holds the second-highest market share for cheese analogues. This segment's growth would also be aided by the increasing use of these cheese analogues as a less expensive substitute for regular cheese in instant cereal-based snacks.
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Based on the region, Europe holds the largest share of the global industry, due to the growing desire for healthier non-dairy cheese alternatives in nations like the UK, France, Spain and Germany. Due to their busy lifestyles, European consumers want convenience foods and prepared meals that meet their daily nutritional and energy needs. To meet the soaring demand for cheese, this has led manufacturers to expand their production capacity and provide cutting-edge goods like instant pasta, pizza, and lasagne.
The second-largest cheese analogue market share is predicted to reside in North America. In salads, spaghetti, cheese sauces, cheese dips and sandwiches , the three main cheese alternatives are mozzarella, cheddar, and pasteurized processed cheddar. Due to its low manufacturing costs and rising urbanization in Asia Pacific, it has also gained a lot of popularity among customers. The growth of the regional market would also be supported by the rising popularity of plant-based goods in South America, the Middle East, and Africa.
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Cheese Analogue Market Drivers
Cheese Analogue Market Restraints
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The prominent players in the cheese analogue market are concentrating on launching new products to strengthen their positions. Multiple well-known businesses operating on a global scale have helped to consolidate the industry. A vegan and vegetarian food firm with a U.S. base called Follow Your Heart is working on making vegan cheese. By doing so, it hopes to increase the variety of vegan cheese products it offers and attract non-vegan customers.
Cheese Analogue Market Top Players Company Profiles
Cheese Analogue Market Recent Developments
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According to the analysis, the global cheese analogue market is currently led by countries in the North American region with non-dairy cheese analogue currently dominating the market share, owing to the increased demand for plant-based and vegan food products, and is anticipated to continue dominating the cheese analogue market over the forecast period.
|Market size value in 2021||USD 2.07 billion|
|Market size value in 2030||USD 2.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Cheese Analogue Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cheese Analogue Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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