Vegan Cheese Market Strategic Insights and key Business Influencing Factors

Posted by kelvindbmr on May 12th, 2021

Global vegan cheese market is expected to register a substantial CAGR of 7.96% in the forecast period of 2020-2026. Vegan cheese is a plant-based dairy alternative product which is manufactured with the extraction of milks from various nuts and plants. This product does not utilize the milk, nutrients derived from animals. Even with the consumption of plant-based raw materials the product is an excellent protein source while also providing cholesterol-free alternative to the consumers.

Segmentation: Global Vegan Cheese Market

•          By Product Type (Parmesan, Mozzarella, Ricotta, Cream Cheese, Cheddar)
•          By Product Form (Slices, Blocks & Wedges, Shreds)
•          By Source (Coconut, Almond, Soy, Rice, Cashew, Others)
•          By Distribution Channel (Direct, Indirect)
•          By End-Use Industry (Food Servicing, Food Processing, Retail & Household)

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Key Market Competitors:

Few of the major competitors currently working in the global vegan cheese market are Kite Hill; Nush Foods; Tesco.com; Follow Your Heart; Field Roast; Miyoko's; WayFare Inc; Good Planet Foods; The Regal Vegan; Tofutti Brands, Inc.; Bute Island Foods Ltd; Kinda Co.; So Delicious Dairy Free; Reine LLC; Uhrenholt A/S; Dr-Cow Tree Nut Cheese; Vtopian Artisan Cheeses; Parmela Creamery; Gardener Cheese Company; Daiya Foods Inc.; GreenSpace Brands among others.

Competitive Analysis: Global Vegan Cheese Market

Global vegan cheese market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vegan cheese market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Drivers:

•          Increasing prevalence of veganism as a mainstream habit instead of a rare fashionable interest is expected to drive the growth of the market
•          Increasing concerns regarding the health of animals and restrictions on animal-based food products is expected to drive the growth of the market
•          Variety of product offerings as well as major manufacturers focusing on expansion of their business operations worldwide is expected to drive the growth of the market
•          Increasing rate of preference in adoption of dairy-free alternatives due to better nutritional value is expected to propel the growth of the market

Market Restraints:

•          Higher priced products is expected to hinder the growth of the market
•          Lower awareness rate amongst individuals in the developing regions of the world is expected to restrict the growth of the market