Press release
Global Vegan Cheese Market is Thriving with Rising Latest Trends by 2027 | Top Players- Kite Hill; Nush Foods; Tesco.com; Follow Your Heart; Field Roast; Miyoko's; WayFare Inc
Global Vegan Cheese Market
Global vegan cheese market is expected to register a substantial CAGR of 7.96% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing prevalence of lactose intolerant population worldwide along with enhanced sustainable nature provided by the vegan food industry. Few of the major competitors currently working in the global vegan cheese market are Kite Hill; Nush Foods; Tesco.com; Follow Your Heart; Field Roast; Miyoko's; WayFare Inc; Good Planet Foods; The Regal Vegan; Tofutti Brands, Inc.; Bute Island Foods Ltd; Kinda Co.; So Delicious Dairy Free; Reine LLC; Uhrenholt A/S; Dr-Cow Tree Nut Cheese; Vtopian Artisan Cheeses; Parmela Creamery; Gardener Cheese Company; Daiya Foods Inc.; GreenSpace Brands among others.
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Competitive Analysis:
Global vegan cheese market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vegan cheese market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Global Vegan Cheese Market By Product Type (Parmesan, Mozzarella, Ricotta, Cream Cheese, Cheddar), Product Form (Slices, Blocks & Wedges, Shreds), Source (Coconut, Almond, Soy, Rice, Cashew, Others), Distribution Channel (Direct, Indirect), End-Use Industry (Food Servicing, Food Processing, Retail & Household), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Definition:Global Vegan Cheese Market
Vegan cheese is a plant-based dairy alternative product which is manufactured with the extraction of milks from various nuts and plants. This product does not utilize the milk, nutrients derived from animals. Even with the consumption of plant-based raw materials the product is an excellent protein source while also providing cholesterol-free alternative to the consumers.
Market Drivers:
Increasing prevalence of veganism as a mainstream habit instead of a rare fashionable interest is expected to drive the growth of the market
Increasing concerns regarding the health of animals and restrictions on animal-based food products is expected to drive the growth of the market
Variety of product offerings as well as major manufacturers focusing on expansion of their business operations worldwide is expected to drive the growth of the market
Increasing rate of preference in adoption of dairy-free alternatives due to better nutritional value is expected to propel the growth of the market
Market Restraints:
Higher priced products is expected to hinder the growth of the market
Lower awareness rate amongst individuals in the developing regions of the world is expected to restrict the growth of the market
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Segmentation:Global Vegan Cheese Market
By Product Type
Parmesan
Mozzarella
Ricotta
Cream Cheese
Cheddar
By Product Form
Slices
Blocks & Wedges
Shreds
By Source
Coconut
Almond
Soy
Rice
Cashew
Others
Peanut
Pine Nuts
Hazelnut
By Distribution Channel
Direct
Online
Indirect
Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Retail Stores
Large
Small
Online
By End-Use Industry
Food Servicing
Hotels
Restaurants
Cafes
Others
Food Processing
Bakery & Confectionery
Dips & Sauces
Dairy & Desserts
Retail & Household
Fast Food Snacks
Key Developments in the Market:
In September 2018, GreenSpace Brands announced that they had introduced "Riot Eats" brand focused on delivering plant-based dairy products. The brand was unveiled at the "2018 Natural Products Expo East" and "CHFA East" held in United States and Canada respectively. The brand will be the only certified USDA organic cheese brand available for the North American market. This brand launch is the evidence to the strategy provided by the company to introduce vegan, dairy-free products that do not make it seem like a sacrifice for the vegan population
In January 2018, GreenSpace Brands announced that they had completed the acquisition of Galaxy Nutritional Foods, Inc. for approximately USD 17.8 million. This acquisition will focus on making "Go Veggie" brand North America's biggest plant-based food business, and will also result in greater presence of GreenSpace Brands in the North America region, especially for plant-based food products
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Key Insights in the report:
Competitive analysis of key competitors involved in the market
Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
Market drivers and restraints analysis along with the analysis of the market structure
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