Vegan Cheese Market
Vegan Cheese Market (Type: Mozzarella, Parmesan, Cheddar, Cream Cheese, Ricotta, and Others; Form: Shreds, Blocks & Wedges, and Slices; Nature: Organic and Conventional; End Use: Food Processing, Foodservice, and Household/Retail; and Distribution Channel: Business to Business and Business to Consumers) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
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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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 – Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the vegan cheese market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the vegan cheese market structure. The market study presents exclusive information about how the vegan cheese market will grow during the forecast period of 2021-2031.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the vegan cheese market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the vegan cheese market, including manufacturers, suppliers, distributors, cultivators, brands and investors, and to help them develop winning growth strategies. Stakeholders in the vegan cheese market, which include investors, industry experts, researchers, and journalists, and business researchers can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting the expansion of the market. It also offers actionable insights into the future trends in the vegan cheese market. Furthermore, small businesses and new entrants in the vegan cheese market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Vegan Cheese Market Report
- Which region will continue to remain the most profitable regional market for vegan cheese market players?
- Which factors will induce a change in the demand for vegan cheese during the assessment period?
- How will the changing trends impact the global vegan cheese market?
- How can market players capitalize on the low-hanging opportunities in the vegan cheese market in developed regions?
- Which companies are leading the global vegan cheese market?
- What are the winning strategies of stakeholders in the vegan cheese market to catapult their position at the forefront?
North America Vegan Cheese Market: Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the vegan cheese market and identify future growth parameters. This research methodology is a combination of primary and secondary research to help analysts ensure the accuracy and reliability of the conclusions.
Secondary sources referred to by analysts for compiling the vegan cheese market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Information acquired from primary and secondary sources is compiled in a comprehensive manner. This also acts as a validation from companies in the vegan cheese market, which makes TMR’s projections more accurate and reliable.
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.