Global Vegan Cheese Market at a CAGR of 7.96 % Growth, Trends and Absolute Oppor

Posted by swamiv on February 10th, 2020

Due to high demand and the value of market research for the success of different sectors, Vegan Cheese Market report has been prepared by covering many work areas. This is a professional and a complete report focusing on primary and secondary drivers, market share, competitor analysis, leading segments and geographical analysis. This Vegan Cheese Market report lets you know that how the market is going to perform in the forecast years by giving you information about market definition, classifications, applications, and engagements. Few of the features such as objectivity have been kept at the centre while obtaining the best result via this Vegan Cheese Market report for Food and Beverage industry.

Global vegan cheese market is expected to register a substantial CAGR of 7.96% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. 

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Market Definition: Global Vegan Cheese Market

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.

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

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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
• Peanut
• Pine Nuts
• Hazelnut

By Distribution Channel

• Direct
• Online
• Indirect
• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Stores
• Retail Stores
• Large
• Small
• Online

By End-Use Industry

• Food Servicing
• Hotels
• Restaurants
• Cafes
• Others
• Food Processing
• Bakery & Confectionery
• Dips & Sauces
• Dairy & Desserts
• Retail & Household
• Fast Food Snacks

Key Developments in the Market:

• In September 2018, GreenSpace Brands announced that they had introduced “Riot Eats” brand focused on delivering plant-based dairy products. The brand was unveiled at the “2018 Natural Products Expo East” and “CHFA East” held in United States and Canada respectively. The brand will be the only certified USDA organic cheese brand available for the North American market. This brand launch is the evidence to the strategy provided by the company to introduce vegan, dairy-free products that do not make it seem like a sacrifice for the vegan population
• In January 2018, GreenSpace Brands announced that they had completed the acquisition of Galaxy Nutritional Foods, Inc. for approximately USD 17.8 million. This acquisition will focus on making “Go Veggie” brand North America’s biggest plant-based food business, and will also result in greater presence of GreenSpace Brands in the North America region, especially for plant-based food products

Competitive Analysis:

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.

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