Global Plant-based Cheese Market is valued approximately USD 1.01 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.8 % over the forecast period 2020-2027. Plant-based Cheese or vegan cheese were made from soy flour, margarine, and yeast extract. With harder margarine, this can produce a hard vegan cheese that can be sliced; softer margarine produces a softer, spreadable cheese. Plant based cheese is a comeback of fat-free protein, vegetables beneficial for health and anti-oxidant rich green juices. Vegan diet not only excludes animal flesh, but also dairy, eggs and animal-derived ingredients. The common types of vegan cheese are Mozzarella, Parmesan, Cheddar, Gouda, and Cream Cheese non-dairy based cheeses. These vegan cheeses are consumed in grocery stores, restaurant, vegan school meals, bakeries, and in homes. Vegan cheeses are expected to grow and diversify into the mid-2020s. According to the Plant Based Food Association, the US market for plant-based foods is anticipated to reach $4 billion in sales by 2024. Vegan cheese can replace any recipe with dairy counterparts in all ways because of that there is increase in vegan population. According to “Animals deserve absolute protection today and tomorrow”(ADAPTT), 6% of U.S. consumers say they are vegan, Approximate 1.16% of the Great Britain population (600,000 people) reported being vegan in 2018, U.S. retail sales of plant-based foods have rise11% from 2018 to 2019, hitting a plant-based market value to $4.5 billion. Changing opinion of consumer plays major role in driving the growth of plant based cheese market. However, High cost and affordable price of substitutes impedes the growth of the market over the forecast period of 2020-2027. Also, the plant based cheese market lie with snacks based products that bring a prime opportunity for plant-based which consist dairy-free, and gluten-free, such as beans, seaweed, chickpeas and others.

The regional analysis of global Plant-based Cheese market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the high purchasing power of the consumers allows them to spend on premium food products, such as plant-based cheese. Germany and the U.K. are the major markets of the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as region increased health awareness and extensive research and development programs to increased health awareness that will fuel the market growth in the coming years would create lucrative growth prospects for the plant-based cheese Market across Asia-Pacific region would create lucrative growth prospects for the Plant-based Cheese market across Asia-Pacific region.

Major market player included in this report are:
The Plant based Cheeses Co.
Glanbia, Plc
Paleo Baking Company
Epic Provisions
Paleo Braaap, LLC
Black Bear GmbH
Blue Mountain Organics
Back Roads Food Company
Plant based Cheese Prodotti Per La Dieta Paleo

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Source:
Soy milk
Almond milk
Coconut milk
Rice milk

By Application:
Dips & Sauces
Bakery & Confectionery

By Product Type:
Cream Cheese

By Buyer Type:
Food Processing

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Plant-based Cheese Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers