North America Vegan Cheese Market

Focus on Immunity Boosting Properties of Vegan Cheese During COVID-19 Pandemic

Despite high prices, the COVID-19 pandemic has had a positive influence on the sales of vegan cheese. Companies in the North America vegan cheese market are capitalizing on this opportunity, since an increasing number of consumers has become health conscious and aim to improve their immunity power. Consumers are gravitating toward plant-based products to reduce incidence of possible allergies and eczema.

The lack of awareness regarding the benefits of vegan cheese and its high prices might slow down product uptake during the coronavirus pandemic. Hence, brands in the North America vegan cheese market are targeting niche consumers via supermarkets and through online marketing to ensure product sales. The growing awareness about immunity boosting properties of plant-based cheese is likely to keep revenue flowing into the market.

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Is Highly Processed Vegan Cheese Causing More Harm than Help?

Generally, vegan cheese falls under the category of highly processed foods, similar to vegan meat, convenience foods and frozen meals. This is evident since the revenue share of conventional vegan cheese is larger than organic vegan cheese in the North America vegan cheese market during the forecast tenure. Though highly processed vegan cheese tastes delicious and offers other benefits, its downsides such as high fat, oil, and salt can lead to undesirable health outcomes in consumers. Hence, brands are now increasing focus in organic products.

Annie’s Organic Vegan Mac Cheddar Flavor and other brands are increasing their product availability in retail outlets to meet the growing consumer demand for organic products.

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Preference for Increased Comfort Food Potential in Vegan Cheese Products

Cashew, soy, and coconut are emerging as popular sources for producing plant-based cheese. Companies in the North America vegan cheese market are increasing their production capabilities in mozzarella style shreds and tofu-based cheese slices to meet the growing demand for nutritious plant-based cheese. This explains why mozzarella is predicted to dictate the highest revenue share among all product types in the North America vegan cheese market.

Brands such as Violife, NOOCH IT!, and Field Roast, among others, are being publicized in the highly competitive market landscape. Great melters, creamy taste, and increased comfort food potential are being preferred in plant-based cheese products. Clean labels and short ingredient lists are becoming customary for products in the ever-expanding food industry.

Part-time Veganism, Flexitarians Hold Lucrative Opportunities for Brands

The North America vegan cheese market is expected to reach US$ 1.4 Bn by 2031. Brands are turning toward flexitarians whose diet focuses on plant-based foods with the occasional inclusion of dairy and meat.

Part-time veganism is a growing sector, which is grabbing the attention of stakeholders in the North America vegan cheese market. Veganuary is another trend, which is translating into sales opportunities pertaining to plant-based cheese choices in the market. Manufacturers are developing products that are fortified with probiotics, calcium, protein, and vitamin D to help consumers choose a dairy-free lifestyle. Apart from nutritional advantages, delivering an appealing texture and taste is of prime importance for its use in pizza and other dishes.

Right Meltability, Fermenting Techniques Help Expand in Nut-based Cheese Products

Manufacturers in the North America vegan cheese market are seeing huge potential in soft cheese alternatives. By achieving the right meltability and fermenting techniques, manufacturers are able to expand their product portfolio in several plant-based cheese alternatives. Nut, legume, and mixed plant-protein fermentation are growing prominent in the North America vegan cheese market. Manufacturers are also increasing their focus in hard cheese analogues with the help of oil and starch profiles.

Hard cheese analogues are helping to increase the availability for gourmet products. Manufacturers are increasing their R&D capabilities to improve meltability, flavor, and fat binding properties in nut-based cheese.

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Analysts’ Viewpoint

Brands are taking help of eCommerce to boost sale for vegan cheese products during the ongoing COVID-19 crisis. The North America vegan cheese market is undergoing a significant change with the help of selective plant proteins and fats. However, mimicking nutritional properties of dairy cheese into plant-based cheese are potentially challenging. Hence, companies should focus on developing almond, cashew, and oat-based formulations to offer vital protein, calcium, and vitamins A & B-12 to consumers. The change in perception toward meat-based diet is translating into revenue opportunities for brands. Trademarks of vegan foods and drinks are increasing at a steady pace. Manufacturers are increasing their production capacities in coconut oil and starch-based vegan cheese products.

North America Vegan Cheese Market: Overview

• The recent market study on the global vegan cheese by Transparency Market Research finds the market value for 2021 is estimated to over ~US$ 600 Mn and it is expected to grow at a CAGR of 8.2% during the forecast period. According to the recent report, the vegan cheese market is expected to reach US$ 1.4 Bn by the end of 2031.
• Demand for vegan cheese is being driven by people changing eating habits and increased adoption of vegan diet across the region

North America Vegan Cheese Market: Key Highlights

• Based on type, the mozzarella segment is estimated to lead the North America vegan cheese market, in terms of value, in 2021. The mozzarella segment is expected to expand at a CAGR of 8.2% and reach market value of US$ 460 Mn by the end of the forecast period.
• Based on form, blocks & wedges segmented is estimated to hold large share and expected to reach US$ 360 Mn by the end of 2021
• In terms of end use, the retail/ household segment is projected to account for high market share in terms of volume as well as value by the end of 2031. The retail/household segment is likely to witness growth at a CAGR 7.5%. The segment is projected to reach market volume 994.1 Mn tons by the end of forecast period.
• Based on nature, conventional segment holds around 93.4% market value share. The segment is anticipated to expand at a CAGR of 8.2% and reach market value of US$ 1304.8 Mn by the end of 2021.
• In terms of distribution channel, business to consumer segment is estimated to account for 78.8% of the market share

North America Vegan Cheese Market: Trends

• Increased consumer spending on healthy diet: Consumers’ ability to spend on exotic and plant-based diets has skyrocketed in recent years. In addition, there has been a steady rise in the market for novel food alternatives. They are encouraged to obtain essential nutrients from plant-based alternatives through various advertisements and promotions, and their decision is aided to some degree by their growing demand. Veganism, which was once thought to be a passing fad, is now becoming mainstream product thanks to millennials pushing the movement. The growing use of non-dairy cheese in snack items, followed by bakery and confectionery, is expected to propel the demand for vegan cheese. Several factors are contributing to the rise in demand for dairy-free goods. Consumers are becoming more conscious of ethical issues when making food choices. Moreover, the millennial generation of vegans is the most committed, leading to a conscious and balanced way of life. The food industry professionals across the supply chain have changed their emphasis and products. Items, ingredients, and procedures have all been changed to better appeal to vegan customers, from restaurants to grocery stores to food manufacturers.
• Consumers adopting healthy lifestyle to boost demand for vegan cheese: Consumers are becoming more aware of the health risks associated with dairy intake, which is influencing them to switch to vegan products. Plant-based foods can help to keep blood pressure in check, while also lowering the risk of heart disease, stroke, prostate cancer, colorectal cancer, cholesterol, and early death. As people move away from traditional cheese, products such as these are becoming more popular. As a result of the increased interest in vegan cheese, a slew of vegan cheese brands have entered the global market, resulting in fierce competition in the vegan cheese market. Large food producers are expected to adhere to the vegan trend, which correlates with strong demand for dairy-free products. Manufacturers in the market for dairy-free products, in both the business-to-business and business-to-consumer segments, have opportunities to maintain and expand their market presence in relation to the competition.

Strategies Adopted by Vegan Cheese Manufacturers to Increase Market Growth

• Manufacturers involving in the production of traditional dairy-based cheese are now focusing on expanding its product offering by launching plant-based cheese. Companies across the board are now actively investing in acquiring and developing new goods and brands to meet the growing consumer demand for plant-based products.
  • In April 2021, French dairy company Bel Brands launched six new vegan cheese available in six flavors and two formats
  • So Delicious, Danone's plant-based dairy-free brand, has extended its product line to include shredded and sliced cheeses, as well as creamy spreads

Vegan Cheese Market: Key Players

• Some of the key players associated with Vegan Cheese production are
  • Archer Daniels Midland
  • So Delicious Dairy Free
  • Galaxy Nutritional Foods
  • Daiya Foods Inc
  • Vermont Farmstead
  • UPrise Foods
  • Miyoko's Kitchen, Inc
  • Wayfare Inc
  • Bute Island Foods Ltd.
  • Parmela Creamery
  • among others

North America Vegan Cheese Market – Segmentation

TMR’s study on the vegan cheese market offers information divided into important segments — type, form, end use, nature, distribution channel, and country. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.