Best News Network

Sales of Vegan Cheese to reach US$ 9.2 billion by 2030, driven by the growing popularity of veganism among populations, says a market analysis by RationalStat

Wilmington, Delaware, July 21, 2023 (GLOBE NEWSWIRE) — The report titled “Global Vegan Cheese Market Analysis and Forecast 2019-2028” assesses the global market based on cheese type, source, form, end user, application, sales channel, and region. According to RationalStat analysis, the global vegan cheese market size was valued at US$ 3.2 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of more than 16% from 2022 to 2030

A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, leading food categories, adoption and penetration levels, production capabilities of the top companies, an overview of the competition, import-exports, pricing by brands, strategic imperatives, key end users, potential growth areas, and competition analysis for the target players evaluated in the global vegan cheese market study.

Market Overview and Dynamics: Europe is dominating the global vegan cheese market due to the increasing vegetarian population in the region

The global vegan cheese market size is valued at a market value of US$ 3.2 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of more than 16% from 2022 to 2030.

  • Increasing acceptance of veganism, especially among millennials has been fueling the market growth. The growing awareness regarding animal cruelty and the negative impacts on the environment caused by the dairy industry has encouraged consumers to opt for plant-based products.
  • The rising cases of lactose intolerance and other food-related allergies among children and adults have changed the food preferences of consumers in recent years. According to the data provided by the Food Intolerance Network, in 2019, around 70% of the population of the world suffered from lactose intolerance.

The inclination toward veganism and vegetarian diet among millennials is expected to boost the industry growth in the Hotel/Restaurant/Café (HoReCa) sector globally.

The COVID-19 pandemic has offered some respite to the market as people around the world have taken an unprecedented interest in cooking at home. Hence, the demand for vegan food products has significantly increased during this period.

Explore the deep insights on report – Request for Sample and Scope of the Study

Segmental Analysis

  • Based on the cheese type, the mozzarella segment held the largest revenue share of over 30.0% in 2021 and is expected to maintain its lead over the forecast period.
    • Mozzarella is widely used in Italian dishes, such as pasta, pizzas, croquettes, and Caprese salad, and is available in the form of slices, cubes, shredded, and spreads. The demand for mozzarella is significantly high in countries where Italian cuisine is popular.
  • Based on the source type, the cashew segment held the largest revenue share of more than 35.0% in 2021 and is expected to maintain its dominant position throughout the forecast period. Cashew-based vegan cheese contains vitamins B2 & B12 and is low in fat.
    • This makes it favorable among health-conscious consumers all over the world. Furthermore, gluten-free and cholesterol-free cashew products are gaining traction owing to their health benefits.
  • Based on end user type, the B2C segment led the global market in 2021 and accounted for a revenue share of more than 50.0%. Factors such as increased consumer disposable income levels and willingness to spend on premium products have led to a rise in the demand for plant-based products in the B2C segment. In addition, easy product availability in supermarkets and convenience stores has boosted the growth of this segment.

To Know the Macroeconomic Scenario and the Impact of COVID-19 on the Global Vegan Cheese Market – Request a Sample

Competition Analysis: Regional Players Dominate the Domestic Markets

Over the last decade, the global vegan cheese market has grown rapidly. The global vegan cheese market is fragmented in nature with the presence of various players in the market.

These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global vegan cheese market.

  • In November 2022, plant-based cheese producer Treeline announces the launch of Treeline Reserve – a new line of artisanal, “ultra gourmet” non-dairy cheeses. To create Reserve, Treeline partnered with Spanish cheesemakers to “take vegan cheesemaking to new heights” and offer products that capture the true essence of fine blue and ripened rind cheeses.
  • In January 2022, Aldi U.K. launched vegan cheese sold under the chain’s Plant Menu brand. It is made from coconut oil and is free of gluten and soy.

Some of the leading players involved in the production and marketing of the global vegan cheese market include Treeline Cheese; Follow Your Heart; Daiya Foods Inc.; Kite Hill; Violife; Dr-Cow Tree Nut Cheese; Tofutti Brands, Inc.; Tyne Chease Limited; Miyoko’s Creamery; and Parmela Creamery.

Request a Customization: https://store.rationalstat.com/store/global-vegan-cheese-market/#tab-ux_global_tab

RationalStat has segmented the global vegan cheese market on the basis of cheese type, source, form, end user, application, sales channel, and region.

  • By Cheese Type
    • Mozzarella
    • Parmesan
    • Cheddar
    • Cream Cheese
    • Ricotta
    • Others (Gouda, Pepper Jack, etc.)
  • By Source
    • Almond Milk
    • Coconut Milk
    • Soy Milk
    • Cashew Milk
    • Others (Pine Nuts, Hazelnuts, etc.)
  • By Form
    • Blocks
    • Slices
    • Shredded
    • Others (Spreads, Cubes, etc.)
  • By End User
    • Personal, Household, and Residential
    • Commercial
      • Retail
      • HoReCa
      • Food Processing
  • By Application

Key Questions Answered in the Vegan cheese Report:

  • What will be the market value of the global vegan cheese market by 2030?
  • What is the market size of the global vegan cheese market?
  • What are the market drivers of the global vegan cheese market?
  • What are the key trends in the global vegan cheese market?
  • Which is the leading region in the global vegan cheese market?
  • What are the major companies operating in the global vegan cheese market?
  • What are the market shares by key segments in the global Vegan cheese market?

For more information about this report and market players https://store.rationalstat.com/store/global-vegan-cheese-market/

Have a Look at RationalStat’s Trending Reports:

  • Global Dairy Nutritional and Nutraceutical Ingredients Market – Global Dairy Nutritional and Nutraceutical Ingredients Market is expected to grow at a CAGR of 7.8% over the forecast period of 2022-2028.
  • Global Dairy Alternatives MarketGlobal dairy alternatives market is expected to witness a robust growth rate of more than 10% during the forecast period.
  • Global Dairy MarketGlobal dairy market is estimated to witness a moderate growth rate of around 5% during the period of 2019–2028.
  • Global Vegan Chocolate MarketGlobal vegan chocolate market is expected to grow at a CAGR of 9.6% during the forecast period of 2022-2028.
  • Global Smoked Yeast MarketThe rising popularity of plant-based and vegan diets is driving the demand for alternative ingredients that can provide unique flavors and enhance the taste of vegetarian and vegan dishes.
  • Global Fox Nuts MarketGlobal fox nuts market is expected to reach US$ 120 million by the end of 2023 and is poised to grow with a CAGR of 8.2% from 2023-2030.
  • Global Plant Based Protein MarketGlobal Plant Based Protein Market is expected to grow at a CAGR of 7.3% over the forecast period of 2022-2028.
  • Global Raw Beetroot Sugar MarketGlobal raw beetroot sugar market is estimated to witness a moderate growth rate of around 6.2% during the forecast period of 2023–2028 and was valued at around US$ 5.1 billion in 2022.
  • Global Rice Flour MarketThe global rice flour market is expected to grow at a CAGR of around 4.2% during the forecast period of 2023-2028 and was valued at around US$ 850 million in 2022.
  • Global Plant Protein Ingredients Market– Global plant protein ingredients market is estimated to witness a considerable growth rate of around 8.2% during the forecast period of 2023–2028 and was valued at around US$ 9 billion in 2022.

About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

Contact

RationalStat LLC

Kimberly Shaw,

Content and Press Manager

[email protected]

US Phone: +1 302 803 5429

UK Phone:  +44 203-287-1245

LinkedIn | FacebookTwitterInstagramPinterest

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Life Style News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.