Key Findings
The global vegan cheese market is expected to register a CAGR of 15.08% during the forecast period, 2021-2028. The growing awareness about healthy lifestyles, the thriving retail industry, lactose intolerance, and preference for vegan food propel market growth.

Market Insights
Vegan cheese is made of ingredients like coconut milk, almonds, cashew, etc. They are considered vegan alternatives to dairy-based cheese. Their benefits include diabetes and cholesterol. The growing demand for vegetarian and vegan diets is one of the significant factors contributing to the rising demand for vegan cheese. Their popularity is on the rise, with consumers demanding more plant-based food options. As a result, this has caused a shift in the food industry. Also, the vegan retail food industry’s revenue increased by 11.4% in 2020, according to the Plant Based Foods Association (PBFA).
Furthermore, various reasons are evaluated for the increasing switch to vegan diets. According to the 2019 Global Vegan Survey, 68.1% of participants switched diets to show their support against the mistreatment of animals. So, animal welfare concerns and ethics were evaluated as major factors. While 17.4% did it for health reasons, citing fitness and chronic health conditions management. Whereas 9.7% cited environmental concerns, and another 4.8% had other reasons that centered on religion. At the same time, the popularity of dairy cheese and the deficiency of certain nutrients hamper the market growth.

Regional Insights
The global vegan cheese market growth analysis includes the geographical assessment of Asia-Pacific, Europe, North America, and Rest of World. Europe is projected to garner the highest revenue share by 2028, given the rising product availability and increasing awareness about the health benefits of a vegan diet.

Competitive Insights
The market is dominated by a huge number of small and big players. Kite Hill, Field Roast, Galaxy Nutritional Foods Inc, WayFare, Daiya Foods Inc, etc., are among the leading market players.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments