DUBLIN--(BUSINESS WIRE)--The "Vegan Cheese Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global vegan cheese market is expected to grow at a CAGR of 8.91% over the forecast period to reach a total market size of US$4.578 billion by 2025, increasing from US$2.743 billion in 2019.
Vegan cheese is often called plant-based cheese for consumers who are lactose intolerant and want to go animal-free. Growing health-consciousness among consumers, dietary restrictions, and popularity in veganism is supplementing the demand for vegan cheese products globally. Besides, growing consumer inclination toward veganism in various parts of the world is anticipated to boost the adoption of vegan cheese over the forecast period. However, the relatively high price of plant-based products compared to dairy is expected to retrain the growth of the market in the coming years.
Growing awareness about the negative impact of high meat consumption on the environment is one of the major factors behind the rising popularity of plant-based products, including vegan cheese. Greenhouse gas emissions due to grazing are pressurizing the whole world to increase focus on plant-based products which in turn is driving the growth of the vegan cheese market. Rapid shift towards vegan diet adoption is also boosting the demand for cheese along with other plant-based protein products in various parts of the world. Moreover, the absence of artificial sweeteners and chemical additives is also leading manufacturers and customers to opt for plant-based products over animal-based.
In recent years, the demand for vegan cheese has substantially increased on account of the growing number of lactose intolerance cases in developed economies like the United States, the United Kingdom, and Germany. The rising concerns towards animal-based products due to both social and ethical reasons are further boosting the demand for plant-based cheese during the forecast period. Additionally, the prominent market players are investing heavily in research and development for the new product development which is anticipated to widen up the growth opportunities for new players entering the market.
Furthermore, due to COVID-19 pandemic consumers are demanding more plant-based product at a rapid pace, and that vegan cheese could be on a similar trajectory in various parts of the world. In the two quarters of 2020, retail sales of plant-based cheese in developed economies like the United States, and Canada witnessed an exponential rise. Recent investments in plant-based cheese production support the category's is growing momentum in various parts of the world.
- Hope Foods, LLC
- GOOD PLANeT Foods.
- Kite Hill.
- Angel Food
- Miyoko's Creamery
- Green Vie Foods
- Tofutti Brands, Inc
- Bute Island Foods Ltd
- Daiya Foods Inc
- WayFare Foods
- Gardener Cheese Company
- Galaxy Nutritional Foods, Inc.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Vegan Cheese Market Analysis, By Source (Value in US$ Million)
5.2. Soy Milk
5.3. Almond Milk
5.4. Coconut Milk
6. Global Vegan Cheese Market Analysis, By Product Type (Value in US$ Million) (Volume in Tons)
7. Global Vegan Cheese Market Analysis, By Distribution Channel (Value in US$ Million) (Volume in Tons)
8. Global Vegan Cheese Analysis, by Geography (Value in US$ Million) (Volume in Tons)
8.2. North America (Value in US$ Million) (Volume in Tons)
8.3. South America (Value in US$ Million) (Volume in Tons)
8.4. Europe (Value in US$ Million) (Volume in Tons)
8.5. The Middle East and Africa (Value in US$ Million) (Volume in Tons)
8.6. Asia Pacific (Value in US$ Million) (Volume in Tons)
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/nlkciz