Global Vegan Cheese Market Size | USD 332.65 Million Forecast 2030...

Global Vegan Cheese Market Size | USD 332.65 Million Forecast 2030 | Nush, Good Planet Foods

Posted 2024-04-08 01:35:45

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Global Vegan Cheese Market to Reach Nearly USD 332.65 Million by 2030, Driven by Rising Demand for Plant-Based Alternatives

Market Overview

The global vegan cheese market is experiencing significant growth, driven by the increasing popularity of plant-based diets and growing consumer awareness of the environmental and health benefits of vegan products. Maximize Market Research estimates the market size to be valued at USD 187.92 million in 2023, with a projected revenue growth of 8.5% from 2024 to 2030, reaching nearly USD 332.65 million.

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Market Scope

Maximize Market Research's report, titled "Global Vegan Cheese Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030," provides comprehensive insights into the market landscape. This report offers in-depth analysis of market size, share, growth trends, demand, key players, industry summaries, opportunities, value cycles, end-users, technologies, types, and applications. It also identifies potential investment opportunities in micro markets and analyzes the competitive landscape with detailed profiles of key players and their product offerings.

Segmentation

The vegan cheese market is segmented by product, source, and end-user.

By Product: Mozzarella dominated the market in 2023 and is expected to maintain its lead due to the growing availability of diverse Mozzarella cheese options using non-animal rennet alternatives. Other product segments include Parmesan, Ricotta, cream cheese, Cheddar, and others.
By Source: Coconut, almond, soy, cashew, and other sources are used in vegan cheese production.
By End-User: The market caters to both household and food service sectors.

Market Players

Key players in the global vegan cheese market include:

Daiya Foods Inc. (Canada)
Follow Your Heart (United States)
Tofutti Brands, Inc. (United States)
Miyoko's Creamery (United States)
Violife (Greece)
Go Veggie (United States)
Kite Hill (United States)
Field Roast Grain Meat Co (United States)
Wayfare (United States)
Parmela Creamery (United States)
Nush (United Kingdom)
Good Planet Foods (United States)
UPrise Foods (United States)
Tyne Cheese Limited (United Kingdom)
Vtopian Artisan Cheeses (United States)
Regal Vegan (United States)
Vermont Farmstead (United States)
Bute Island Foods Ltd (United Kingdom)
Galaxy Nutritional Foods (United States)
Kinda Co (United Kingdom)

Regional Analysis

The report segments the market geographically into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America is expected to hold the largest market share due to the high prevalence of vegan diets in the region. However, Asia Pacific is anticipated to witness the fastest growth rate due to the rising disposable income and increasing awareness of plant-based alternatives in the region.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a mixed impact on the vegan cheese market. While initial lockdowns disrupted supply chains, the increased focus on health and wellness during the pandemic has driven a long-term shift towards plant-based products, ultimately benefiting the market.

Key Questions Answered

The report addresses critical questions such as: