Growing Preference for Plant-based Diet Underscoring Growth in Vegan Cheese Market From 2020 to 2030: TMR

- Increasing number of people moving away from animal-based products will drive demand in market

- Players are set to focus on a robust advertising and marketing strategy to tap into a larger consumer base

- European region is anticipated to hold a dominant share of the market over the forecast period

ALBANY, New York, June 16, 2020 /PRNewswire/ --  A large number of growth factors are driving the global vegan cheese market. And, the growth would translate to a string of growth opportunities. Market would chart a notable growth curve over the period 2020 to 2030.

Transparency Market Research notes, "Global Vegan Cheese Market will chart a Compound Annual Growth Rate of about 10% from 2020 to 2030. This will drive the market worth up to USD 7 billion (approximately) by the end of the stated period. It is a notable increase from 2020 worth of USD 2.5 billion."

Key Findings of Global Vegan Cheese Market Study:

• Conventional segment is set to lead growth in the market over the forecast period
• Mozzarella Vegan Cheese will dominate the product-type segment in the market
• Block segment under the form category will contribute massively to growth
• Household will generate the largest demand in the end-user segment

For a detailed analysis of global vegan cheese market by product type, flavor, form, protein source, end-use, and sales channel, visit https://www.transparencymarketresearch.com/pressrelease/vegan-cheese-market.htm

Key Drivers of Growth in Global Vegan Cheese Market:

The host of trends and drivers that is underscoring growth in the global vegan cheese market has been identified b Transparency Market Research. Some of the major factors identified are increase in number of takers to veganism, and a growing trend of health and wellness. A glimpse into these and other growth factors is provided below:

• The millennial populace is aware of its choices and this is leading to consumption of healthy foods and beverages
• Products derived from animals are taking a backseat due to rise in veganism across the globe
• Veganism is a result of increase in awareness regarding animal cruelty and harm to environment caused by meat processing and dairy industry
• Multi-national corporations such as Whole Foods, and McDonalds are incorporating vegan cheese and vegan cheese products in their offerings

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Regional Analysis of Global Vegan Cheese Market:

• A sizeable share of the global vegan cheese market will be held by Europe
• Awareness regarding animal cruelty, growing number of vegans in the region are leading to this growth
• The region will chart a growth rate of 10.1%, compounded annually, over the forecast period

Analyze global vegan cheese market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Competitive Landscape of Global Vegan Cheese Market:

The global vegan cheese market is a fragmented landscape with a decent number of players marking it with their presence. Well known players in the global vegan cheese market are Violife Foods, Daiya Foods, Tyne Chease Limited, Vtopian Artisan Cheese Company, Kite Hill, Miyoko's Kitchen Company, Vermont Farmstead Company, Good Planet Foods, Follow Your Heart, Galaxy Nutritional Foods, Inc., Parmela Creamery, and Field Roast Grain Meat Co., among others. Transparency Market Research has profiled these comprehensively, detailing out financial and company overviews, strategies deployed by various companies to stay ahead of the curve, and information regarding product launches and so on.

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Major growth strategies deployed by prominent players include forging key alliances to have a better grasp at the market share of certain regions. These include strategic mergers and acquisition, joint ventures, and synergistic collaborations and partnerships. Multinationals, for instance, are eyeing smaller companies to tap into new regions and improve product diversity. Adverting and Marketing are gaining center stage for a number of players.

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Vegan Cheese Market Segmentation 

Vegan Cheese Market by Nature

• Organic
• Conventional

Vegan Cheese Market by Product Type

• Mozzarella
• Cheddar
• Pepper Jack
• Parmesan
• Gouda
• Other Product Types

Vegan Cheese Market by Form

• Block
• Cube
• Shreds
• Slice
• Spread
• Powder
• Sticks

Vegan Cheese Market by Protein Source

• Almond
• Coconut
• Cashew
• Legumes
• Oats
• Soybeans
• Others

Vegan Cheese Market by End Use

• Food Industry
• Bakery & Confectionery
• Snacks
• Soups & Sauces
• Ready Meals
• Salads & Dressings
• Other Food Products
• Foodservice/HoReCa
• Household/Retail

Vegan Cheese Market by Flavor

• Regular
• Flavored
• Herbs
• Spices
• Blends

Vegan Cheese Market by Sales Channel

• B2B/Direct Sales
• B2C/Indirect Sales
• Hypermarkets/Supermarkets
• Convenience Stores
• Independent Grocery Stores
• Specialty Stores
• Online Retailing

Vegan Cheese Market by Region

• North America
• U.S.
• Canada
• Latin America
• Brazil
• Mexico 
• Chile
• Peru
• Argentina
• Rest of Latin America
• East Asia
• China
• Japan
• South Korea
• South Asia
• India
• Thailand
• Malaysia
• Singapore
• Indonesia
• Rest of South Asia
• Oceania
• Australia
• New Zealand
• Middle East & Africa
• GCC Countries
• Turkey
• South Africa
• Iran
• Israel
• Rest of MEA

Explore Transparency Market Research's award-winning coverage of the global Food and Beverages Industry,

Cheese Market - Cheese is a food product that has gained popularity due to growing awareness about its health benefits among global population. Growing use of cheese in regular cooking due to its nutritional value and delectable taste is opening new growth avenues for the global cheese market.  

Plant-Based Food Market - The increasing awareness about vegan food options has resulted in the steady growth of the global plant-based food market. The overall market has been growing at a steady pace and the future is predicted to hold promise. Plant-based food include meat alternative snacks, salted snacks, fruit and nut snacks, snack bars, and cereal/ grain-based snacks.

Cupuacu Butter Market  - Revenue generated from the global cupuaçu butter market has been estimated to be valued at ~US$ 34 Mn in 2020, which is projected to rise at a CAGR of ~6.3%, to reach US$ 62 Mn by 2030. Cupuaçu butter is one of the key ingredients that is widely used in cosmetics and personal care industries.

Murumuru Butter Market - Revenue generated from the global murumuru butter market is valued at ~US$ 1 Bn in 2020, which is estimated to rise at a CAGR of ~7.9%, to reach US$ 3 Bn by 2030. Increasing positive customer perception about the usage of products that deliver multiple benefits, along with perfect skin and body boosts the demand for murumuru butter among manufacturers in the cosmetics and personal care industry.

Cashew Milk Market - Revenue generated from the global cashew milk market was estimated to be valued at ~US$ 91 Mn in 2019, which is projected to rise at a CAGR of 7%, to reach ~US$ 193 Mn by 2029. People mention one or more of three key reasons for going vegan or vegetarian– personal health, animal welfare, and environmental concerns.

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