The size of the global vegan cheese market is expected to be worth USD 3.35 billion in 2024 and USD 5.98 billion by 2029, registering a CAGR of 12.3% from 2024 to 2029.
Lactose- and easily digestible cheese is nothing but vegan. Soy milk, almond milk, rice milk, as well as additional sources including peanut milk, coconut milk, and others are used to make vegan cheese, which is totally made of plant-based components. A few of the factors influencing the rise of the worldwide vegan sector include customer desire for environmentally friendly, animal-free sources of protein, increased consumer concern about the use of antibiotics, allergies, and hormones, and worries about animal welfare. The global vegan cheese market is growing as a result of the widespread usage of vegan cheeses in fast food snacks, bakeries, and confectioneries.
The adoption of veganism has been continuously increasing in all parts of the world, particularly among millennials. Consumers are being pushed to choose plant-based goods due to rising awareness of animal cruelty and the damaging effects the dairy sector has on the environment. A significant portion of the population is switching to a plant-based diet, which is fuelling the growth of the vegan consumer goods industry. Growing customer demand for plant-based dairy products has caused producers to move quickly because of growing public awareness of animal cruelty and the negative environmental effects of a carnivorous diet. Most of the cheese consumed worldwide is made from dairy. Demand for plant-based vegan cheese has increased as the vegan market expands. Changes in consumer eating preferences and emerging trends in the food and beverage industries are driving the demand for vegan cheese on a global scale. Due to the rise in cases of lactose intolerance and other food-related allergies in both children and adults, consumer food preferences have changed recently.
Major changes in the food and beverage industry are anticipated to result from the arrival of the COVID-19 pandemic. The global vegan cheese market is anticipated to have slow growth, particularly in 2020, as consumer demand keeps falling as a result of the ongoing health problem. As significant food displays and events are canceled or delayed and restaurants continue to be closed due to the lockdown, demand for vegan cheese is also anticipated to decline. Brands are also expected to thoroughly examine the situation and address any financial issues brought up by the COVID-19 event. While it's possible that vegan cheese manufacturing will pick up again in the second half of 2020, it's expected that large brands will diversify their revenue streams and use e-commerce platforms to boost sales and market share. In these difficult circumstances, brands are also expected to focus on logistics channels and work their way through them to find the best supply chain models.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
12.3% |
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Segments Covered |
By Source, Product, End Use and Region |
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Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Violife Foods, Daiya Foods, Tyne Chease Limited, Vtopian Artisan Cheese Company, Kite Hill, Miyoko’s Kitchen Company, Vermont Farmstead Company, Good Planet Foods, Follow Your Heart, Galaxy Nutritional Foods, Inc. |
The mozzarella segment was the biggest segment in the global market in 2023 and captured more than 30% of the global market share in 2023 and is anticipated to continue to lead during the forecast period in the global vegan cheese market. In Italian dishes including spaghetti, pizza, croquettes, and Caprese salad, mozzarella is widely used in the form of slices, cubes, shredded cheese, and spreads. The demand for mozzarella is especially high in countries where Italian food is popular. Ricotta is anticipated to experience the fastest CAGR of 14.0% over the course of the forecast period. This product's expanding range of uses in Italian cuisines like manicotti, lasagna, roll-ups, high tea, and ravioli has been driving demand and boosting category growth.
The cashew segment had 36.4% of the global market share in 2023 and is anticipated to continue holding its prominent position during the forecast period. Vegan cheese made from cashews is low in fat and contains vitamins B2 and B12. This makes it popular with people who care about their health all over the world. Due to its health advantages, gluten-free and cholesterol-free cashew products are also becoming more popular.
The soy segment is anticipated to grow at the fastest rate, 13.1%, during the forecast period. Soy milk is an affordable alternative to dairy and contains a perfect ratio of healthy fatty acids and amino acids. As a result, it is an economical choice for large-scale vegan cheese makers. Additionally, because soy-based cheese is simple to melt, it is becoming more popular among customers.
The B2C segment led the market and occupied 56.7% of the worldwide market share in 2023 and is expected to grow exponentially during the forecast period owing to the rising consumer disposable income levels and their willingness to spend on high-end items, the demand for plant-based products in the B2C sector has increased. The straightforward accessibility of goods in supermarkets and convenience stores has also contributed to the growth of this market.
More than 35.0% of global revenue was generated in Europe in 2023 and this region will continue to hold the top spot throughout the coming years. Consumers are progressively adopting more environmentally friendly and vegan goods as a result of rising awareness of animal cruelty and the region's growing carbon footprint brought on by the use of commodities produced from animals, such as milk, honey, eggs, beef, pig, and seafood.
The Asia Pacific is predicted to be the fastest growing regional market for vegan cheese and is predicted to grow at a CAGR of 14.1% from 2024 to 2029. The increased demand for plant-based baking and confectionery products in the Asia Pacific region is predicted to increase sales of the product. China, Japan, and Australia are the main proponents of the Asia Pacific vegan cheese market's growth.
Violife Foods, Daiya Foods, Tyne Chease Limited, Vtopian Artisan Cheese Company, Kite Hill, Miyoko’s Kitchen Company, Vermont Farmstead Company, Good Planet Foods, Follow Your Heart and Galaxy Nutritional Foods, Inc. are some of the notable companies in the global vegan cheese market.
By Product
By Source
By End Use
By Region
Frequently Asked Questions
Vegan cheese production generally has a lower environmental footprint compared to dairy cheese production, as it requires fewer natural resources such as water and land and produces fewer greenhouse gas emissions. Additionally, vegan cheese production does not involve animal farming practices associated with deforestation and habitat destruction.
There are various types of vegan cheese available, including soft cheeses (like cream cheese and ricotta), hard cheeses (like cheddar and gouda), and specialty cheeses (like blue cheese and camembert). These cheeses may be flavored or aged to replicate the characteristics of traditional dairy cheeses.
Major changes in the food and beverage industry are anticipated to result from the arrival of the COVID-19 pandemic. The global vegan cheese market is anticipated to have slow growth, particularly in 2020 as consumer demand keeps falling, as a result of the ongoing health problem.
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