What is the global market size of Vegan Cheese Market?

Vegan Cheese Market size was valued at USD 2.57 billion in 2021 and is poised to grow from USD 2.86 billion in 2022 to USD 10.61 billion by 2030, growing at a CAGR of 10.61% in the forecast period (2023-2030).

Global Vegan Cheese Market Size, Share, Growth Analysis, By Source(Soy, Almond), By End-User(B2B, B2C) - Industry Forecast 2024-2031

Report ID: SQSG30C2015 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 64 | Figures: 75

Global Vegan Cheese Market Regional Insights

More than 35.0% of global revenue was generated in Europe in 2021, and this region will continue to hold the top spot throughout the coming years. Due to growing awareness of animal cruelty and the region's expanding carbon footprint brought on by the use of foods derived from animals, such as milk, honey, eggs, beef, pig, and seafood, consumers are increasingly choosing more environmentally friendly and vegan products.

With a CAGR of 14.1% from 2022 to 2028, Asia Pacific is predicted to have the quickest rate of growth among all regions. Sales of the product are anticipated to be boosted by the rising demand for plant-based baking and confectionary goods in the Asia Pacific area. The major drivers of the expansion of the Asia Pacific market are China and Japan.

Global Vegan Cheese Market Report Snapshots

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Vegan Cheese Market size was valued at USD 2.57 billion in 2019 and is poised to grow from USD 2.86 billion in 2023 to USD 10.61 billion by 2031, growing at a CAGR of 10.61% in the forecast period (2024-2031).

Numerous small- and large-scale manufacturers are launching mergers and acquisitions as well as new product innovations to achieve consolidation and optimize their products, the leading non-dairy cheese brands are faced with intense competition. The non-dairy cheese market is expanding more quickly thanks in large part to the internet selling platform. Furthermore, manufacturers have an advantage in expanding their product line globally because of distribution networks and superior manufacturing expertise. For instance, in January 2022, Aldi U.K. launched vegan cheese sold under the chain’s Plant Menu brand. It is made from coconut oil and is free of gluten and soy. 'Daiya Foods', 'Violife Foods', 'Kite Hill', 'Field Roast Grain Meat Co.', 'Miyoko's Creamery', 'Follow Your Heart', 'Tofutti Brands Inc.', 'Good Planet Foods', 'Nush Foods', 'Treeline Cheese', 'Vtopian Artisan Cheeses', 'Nuttin Ordinary', 'Punk Rawk Labs', 'Dr. Cow Tree Nut Cheese', 'GreenSpace Brands Inc.', 'Heidi Ho', 'Parmela Creamery', 'The Frauxmagerie', 'Kinda Co.', 'Wildwood Foods'

Lactose intolerance affects a sizeable portion of the global population. Rarely can those who are lactose intolerant eat delicacies made with milk or substances produced from milk. As a result, there is a growing demand for vegan cheese. Vegan cheese is a plant-based dairy substitute that is especially good for people with lactose sensitivity. To draw customers who prefer vegan diets and those who are lactose intolerant, an increasing number of hotels, restaurants, and cafes have begun providing vegan cheese on their menus.

The demand for environmentally friendly food products is boosting the plant-based cheese market growth. According to the United Kingdom International Diabetes Federation, more than 90% of the greenhouse gas (CHG) emissions effect of cheese comes from dairy farms (UKIDF). Since plant-based cheese is environmentally friendly, it is becoming more and more well-liked.

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Global Vegan Cheese Market Size, Share, Growth Analysis, By Source(Soy, Almond), By End-User(B2B, B2C) - Industry Forecast 2024-2031

Global Vegan Cheese Market Regional Insights

Global Vegan Cheese Market Report Snapshots

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