Vegan Cheese Market 2022 SWOT Analysis by Players Continues Explosive Growth by 2028

According to a new market research report "Vegan Cheese Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Mozzarella, Parmesan, Cheddar, Cream Cheese, Ricotta, and Others); Form (Slices, Diced/Cubes, Shredded, Blocks, Spreads, and Others); Source (Almond Milk, Soy Milk, Coconut Milk, Cashew Milk, and Others); and Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, Online, and Others), and Geography" published by TheInsightPartners, the Vegan Cheese market size is projected to grow from US$ 2,705.00 million in 2019 to US$ 4,651.68 million by 2027, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period.

Vegan cheese is prepared using plant-based ingredients instead of the traditional animal-based products. Vegan cheese is rich in proteins, calcium, vitamins, and has a high nutritional profile. There has been an increasing demand for vegan cheese owing to the change in eating patterns of the consumers all over the world. The low cholesterol level of the vegan cheese has been the prime factor that helps in the prevention of cardiovascular disease.

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Key players profiled in the Vegan Cheese Market report includes: Daiya Foods Inc., Field Roast, Follow Your Heart, Galaxy Nutritional Foods, Inc., Good Planet Foods, Kite Hill, Miyoko's Creamery, Nush Foods, Uprise Foods LLC, WayFare

Market Insights

Health Benefits Associated With Vegan Cheese Favors Global Market Growth

There has been a rising demand for vegan cheese due to the rising awareness of the health benefits related to vegan cheese among the population. Vegan cheese is prepared using various sources such as almond milk, coconut milk, cashew milk, and soy milk. These sources are well known for their high nutritional properties that have garnered the inclination of consumers worldwide. The vegan cheese is a rich source of various minerals, vitamins, potassium, calcium, and fibers. This strong nutritional profile of vegan cheese has led to an upsurge in its demand globally. Vegan cheeses are comparably lower in fat and are likely gluten-free. Recent studies have shown that vegan cheese helps in reducing cardiovascular diseases and has been highly recommended by people and the aging population worldwide. The high carbohydrate and fiber content of vegan cheese is noted to provide abundant energy to the consumer. Additionally, the vegan cheese contain probiotic bacteria that help in protecting the micro biota or intestinal flora. Thus all these factors have been contributing to the expansion and development of the vegan cheese market across the world.

Product Type Insights

Based on product type, the vegan cheese market is segmented into mozzarella, parmesan, cheddar, cream cheese, ricotta, and others. The mozzarella segment accounted for the largest share of the global market in 2019; whereas, the market for parmesan is expected to grow at the highest CAGR during the forecast period. Mozzarella is basically a traditionally southern Italian cheese prepared from Italian buffalo's milk by the pasta filata method. Fresh mozzarella is basically white but may vary seasonally to slightly yellow depending on the animal's diet. However, due to some health issues faced by consumers, such as lactose intolerance, obesity, weight gaining, there is an increasing need for dairy-free alternatives for cheese lovers. Hence, most of the cheese offering companies are focusing on vegan cheese.

The recent COVID-19 outbreak, which began in Wuhan (China) during December 2019, has spread around the globe at a fast pace. As of June 2020, the US, Russia, India, China, Italy, France, and Germany are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in June 2020, ~7,482,952 confirmed cases and ~419,497 deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns imposed by governments. Food & beverages is one the world's major industries suffering serious disruptions in the form of supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. Although, China is the global manufacturing hub and is the largest raw material supplier for various industries in the world, it is also one of the worst

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Source Insights
Based on source, the vegan cheese market is segmented into almond milk, soy milk, coconut milk, cashew milk, and others. The almond milk segment accounted for the largest share of the market in 2019. The almond milk cheese is one of the widely used sources in vegan cheese preparation. The naturally higher fat content of the almond milk gives the cheese a smoother texture without astringent taste. The almond milk has been known for its high nutritional profile that has further fueled its demand in the vegan cheese preparation. The almond milk is low in calories that have garnered its attention from health-conscious consumers all over the world. The calcium content of almond milk has been known to strengthen the bones and is highly recommended by orthopedics across the world.

Vegan Cheese Market, by Product Type
• Mozzarella
• Parmesan
• Cheddar
• Cream Cheese
• Ricotta
• Others

Vegan Cheese Market, by Form
• Slices
• Diced/Cubes
• Shredded
• Blocks
• Spreads
• Others

Vegan Cheese Market, by Source
• Almond Milk
• Soy Milk
• Coconut Milk
• Cashew Milk
• Others

Vegan Cheese Market, by Distribution Channel
• Hypermarkets and Supermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our wide range of research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials and Foods and Bavarages.

This release was published on openPR.