Global Vegan Cheese Market Is Expected To Reach $8.47 Billion By 2032

Zion Market Research has published a new report titled “Vegan Cheese Market By Source (Coconut, Almond, Soy, Cashew, and Others), By Product (Parmesan, Mozzarella, Ricotta, Cream Cheese, and Cheddar), By Application (Food Service, Food Processing, and Household), and By Distribution Channel (Hypermarkets/Supermarkets, B2B, E-Commerce, Specialty Retail, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024– 2032”. According to the report, the global vegan cheese market accounted for USD 2.89 Billion in 2023 and is predicted to reach USD 8.47 Billion by the end of 2032. The market is expected to grow with a CAGR of 12.7% during the forecast period.

Vegan cheese is a non-dairy product that is mostly consumed by vegans who do not consume any kind of animal products. It is considered to be rich in protein and cholesterol-free. Vegan cheese is available in different types and is obtained from different sources. The most popular method for the preparation of vegan cheese is fermentation, where tree nuts are soaked in water for about 36 hours.

Browse the full “Vegan Cheese Market By Source (Coconut, Almond, Soy, Cashew, and Others), By Product (Parmesan, Mozzarella, Ricotta, Cream Cheese, and Cheddar), By Application (Food Service, Food Processing, and Household), and By Distribution Channel (Hypermarkets/Supermarkets, B2B, E-Commerce, Specialty Retail, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024– 2032” Report at https://www.zionmarketresearch.com/report/vegan-cheese-market

The vegan cheese market will grow significantly over the estimated timeline. Studies have shown that consumption of large quantities of meat products daily may have adverse health effects, thus consumers are making the required changes in their lifestyles by adopting veganism. Moreover, the growing concerns about animal welfare and new product launches for vegans are also boosting the vegan cheese market. However, the lack of awareness among the majority of the consumers regarding the ill-effects of meat products may hamper the market.

The vegan cheese market is fragmented into the source, product, application, and distribution channel. According to the source, the vegan cheese market comprises almond, coconut, cashew, soy, and others. The soy segment is the most popular among the consumers, due to its cholesterol-free nature. Almond and cashew segments are expected to show moderate market growth in the years ahead.

By product, the vegan cheese market includes mozzarella, parmesan, cream cheese, cheddar, and ricotta. Mozzarella is expected to show maximum market growth, due to its wide usage in burgers, pizzas, etc. Parmesan and cheddar are expected to show considerable growth rates in the future. Cheddar cheese is mostly served with sandwiches and is also served as an appetizer.

By application, the vegan cheese market includes food processing, household, and food service. The food processing segment includes sauces, baked goods, dressings and dips, snacks, processed and packed foods, dairy, readymade meals, and desserts. The food service sector includes hotels, cafes, restaurants, etc. and is expected to dominate the market in the years ahead, owing to the growing number of food delivery apps that has resulted in the increased number of restaurants and hotels globally.

By distribution channel, the vegan cheese market is classified into specialty retail, B2B, e-commerce, hypermarkets/supermarkets, and others. Retail stores are experiencing substantial market growth, due to their offering of different brands and flavors of vegan cheese. The rising popularity of e-commerce in recent years has led to the growth of this segment.

North America will show significant growth over the forecast time period, owing to the rising consumer awareness about the ill-effects of daily meat consumption. Europe is expected to be a profitable market for vegan cheese, due to the high per-capita income of the regional consumers.

Vegan Cheese Market: Competitive Analysis

The global vegan cheese market is led by players like:

• Daiya Foods
• Dr-Cow Tree Nut Cheese
• Follow Your Heart
• Galaxy Nutritional Foods
• Field Roast Grain Meat
• Miyoko’s Kitchen
• Punk Rawk Labs
• Bute Island Foods
• Tofutti Brands
• Wayfare.

This report segments the global vegan cheese market into:

Global Vegan Cheese Market: Source Analysis

• Coconut
• Almond
• Soy
• Cashew
• Others

Global Vegan Cheese Market: Product Analysis

• Parmesan
• Mozzarella
• Ricotta
• Cream Cheese
• Cheddar

Global Vegan Cheese Market: Application Analysis

• Food Service
• Food Processing
• Household

Global Vegan Cheese Market: Distribution Channel Analysis

• Hypermarkets/Supermarkets
• B2B
• E-Commerce
• Specialty Retail
• Others

Global Vegan Cheese Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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