Worldwide Vegan Cheese Industry to 2027 - Increasing demand from the Asia Pacific region
DUBLIN, Feb. 9, 2021 /PRNewswire/ -- The "Vegan Cheese Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type; Form; Source; and Distribution Channel, and Geography" report has been added to ResearchAndMarkets.com's offering.
According to this report the market is accounted for US$ 2,705.00 million in 2019 and is expected to grow at CAGR of 7.1% during the forecast period 2020 - 2027, to account for US$ 4,651.68 million by 2027. The report highlights key factors driving the market growth and the prominent players along with their developments in the market.
Vegan cheese is prepared using plant-based ingredients instead of the traditional animal-based products. Vegan cheese is rich in proteins, calcium, vitamins, and has a high nutritional profile. There has been an increasing demand for vegan cheese owing to the change in eating patterns of the consumers all over the world. The low cholesterol level of the vegan cheese has been the prime factor that helps in the prevention of cardiovascular disease. Development in new products like microorganism-cultured vegan cheese is expected to provide lucrative opportunities to the vegan cheese market in the coming years. Based on source, the vegan cheese market is categorized into almond milk, soy milk, coconut milk, cashew milk, and others. In 2019, the almond milk segment dominated the market by accounting for major share of the total market share. The almond milk base is highly in demand as the consumers believe that it is healthier as it contains higher concentration of nutritional compounds. Scientific studies have shown that almond milk consumption is known to reduce the risk of cardiovascular diseases and hence has been recommended by consumers globally. Thus the high nutritional profile of almond milk has been one of the major contributing factors for its source base in the vegan cheese production.
Lactose intolerance is the consumer's incapacity to digest significant amounts of lactose present in milk and milk products. The demand for lactose-free food products such as vegan cheese is driven by increased incidences of food allergies and intolerances. Consumers with lactose intolerance fail to break down all the lactose into its absorbable components, glucose, and simple sugars galactose. Instead, the lactose particles pass through the gastrointestinal tract intact and cause intolerance symptoms. These symptoms include abdominal pain, cramping, bloating, gas (flatulence), and diarrhea gurgling sounds in the digestive system, borborygmi.The North American region has experienced a rising amount of lactose intolerance that has favored the rise and expansion of the vegan cheese market and has been estimated to grow in the coming years.
North America vegan cheese market is expected to grow at the highest CAGR during the forecast period. The US is dominating the regional market, followed by other countries such as Canada and Mexico. Consumers in countries such as the US and Canada are shifting their preferences toward a healthy lifestyle and prefer products that provide health benefits. Therefore, the increasing health concern among consumers drives the growth of the vegan cheese market in North America. Also, vegan cheese product manufacturing companies in North America are continuously enhancing their product portfolio to meet the customers' demand. Most of the consumers in North America are apprehensive about going vegan since they have found it difficult to eliminate cheese from the favorite foods items. While most of the consumers may find it difficult to abstain from burgers, pasta, pizzas, and other popular dishes prepared with cheese as a key ingredient; opting mainly for healthier alternatives can bring a positive change. Leading vegan cheese brands in this region are therefore amplifying their promotional strategies mainly to spread the word about their products. This will further help manufacturers to gain significant traction.
The COVID-19 outbreak has affected economies and industries in various countries due to government-imposed, as well as self-imposed, lockdowns, travel bans, and business shutdowns. Food processing is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the hub of manufacturing and the largest raw material supplier for various industries worldwide, and disturbed operations in the country are affecting several businesses from all other countries dependent on its manufacturing sector. The global market breakdown due to COVID-19 spread is also affecting the growth of the market for vegan cheese applications.
Daiya Foods Inc.; Field Roast; Follow Your Heart; Galaxy Nutritional Foods, Inc.; Good Planet Foods; Kite Hill, Miyoko's Creamery; Nush Foods; Uprise Foods LLC; Wayfare; and among the key players operating in the global vegan cheese market.
Reasons to Buy
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global vegan cheese market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Vegan Cheese Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
4.4 Product Types Analysis by Countries/Regions
5. Vegan Cheese Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Health benefits associated with vegan cheese
5.1.2 Rising cases of lactose intolerance among the consumers to boost the vegan cheese market
5.2 Market Restraints
5.2.1 Higher preference for dairy cheese as compared to vegan cheese
5.3 Market Opportunities
5.3.1 Increasing demand from the Asia Pacific region
5.4 Future Trends
5.4.1 Introduction of cell-based vegan cheese
5.5 Impact Analysis of Drivers And Restraints
6. Vegan Cheese - Global Market Analysis
6.1 Vegan Cheese Market Overview
6.2 Vegan Cheese Market -Revenue and Forecast to 2027 (US$ Mn)
6.3 Competitive Positioning - Key Market Players
7. Vegan Cheese Market Analysis - By Product Type
7.1 Overview
7.2 Vegan Cheese Market, By Product Type (2019 and 2027)
7.3 Mozzarella
7.3.1 Overview
7.3.1.1 Mozzarella: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
7.4 Parmesan
7.4.1 Overview
7.4.1.1 Parmesan: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
7.5 Cheddar
7.5.1 Overview
7.5.1.1 Cheddar: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
7.6 Cream Cheese
7.6.1 Overview
7.6.1.1 Cream Cheese: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
7.7 Ricotta
7.7.1 Overview
7.7.1.1 Ricotta: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
7.8 Others
7.8.1 Overview
7.8.1.1 Others: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
8. Vegan Cheese Market Analysis - By Form
8.1 Overview
8.2 Vegan Cheese Market, By Form (2019 and 2027)
8.3 Slices
8.3.1 Overview
8.3.2 Slices: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
8.4 Diced/Cubes
8.4.1 Overview
8.4.2 Diced/Cubes: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
8.5 Shredded
8.5.1 Overview
8.5.2 Shredded: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
8.6 Blocks
8.6.1 Overview
8.6.2 Blocks: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
8.7 Spreads
8.7.1 Overview
8.7.2 Spreads: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
8.8 Others
8.8.1 Overview
8.8.2 Others: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
9. Vegan Cheese Market Analysis - By Source
9.1 Overview
9.2 Vegan Cheese Market, By Source (2019 and 2027)
9.3 Almond Milk
9.3.1 Overview
9.3.1.1 Almond Milk: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
9.4 Soy Milk
9.4.1 Overview
9.4.1.1 Soy Milk: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
9.5 Coconut Milk
9.5.1 Overview
9.5.1.1 Coconut Milk: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
9.6 Cashew Milk
9.6.1 Overview
9.6.1.1 Cashew Milk: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
9.7 Others
9.7.1 Overview
9.7.1.1 Others: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
10. Vegan Cheese Market Analysis - By Distribution Channel
10.1 Overview
10.2 Vegan Cheese Market, By Distribution Channel (2019 and 2027)
10.3 Supermarket and Hypermarkets
10.3.1 Overview
10.3.1.1 Supermarkets and Hypermarkets: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
10.4 Convenience Stores
10.4.1 Overview
10.4.1.1 Convenience Stores: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
10.5 Specialty Stores
10.5.1 Overview
10.5.1.1 Specialty stores: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
10.6 Online
10.6.1 Overview
10.6.1.1 Online: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
10.7 Others
10.7.1 Overview
10.7.1.1 Others: Vegan Cheese Market - Revenue and Forecast to 2027 (US$ Mn)
11. Vegan Cheese Market - Geographic Analysis
11.1 Overview
11.2 North America: Vegan cheese Market
11.3 Europe: Vegan cheese Market
11.4 Asia-Pacific: Vegan Cheese Market
11.5 Middle East and Africa: Vegan Cheese Market
11.6 South America: Vegan Cheese Market
12. Impact of COVID-19 Pandemic on Global Vegan Cheese Market
12.1 Overview
12.2 North America: Impact Assessment of COVID-19 Pandemic
12.3 Europe: Impact assessment of COVID-19 Pandemic
12.4 Asia-Pacific: Impact assessment of COVID-19 Pandemic
12.5 Middle East and Africa: Impact assessment of COVID-19 Pandemic
12.6 South America: Impact assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Business Strategy
13.3 Product Launch
14. Key Company Profiles
14.1 Daiya Foods Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.2 Field Roast
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Follow Your Heart
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.4 Galaxy Nutritional Foods, Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.5 Good Planet Foods
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Kite Hill
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.7 Miyoko's Creamery
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Nush Foods
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Uprise Foods LLC
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.10 WayFare
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
15. Appendix
15.1 About the Publisher
15.2 Glossary
For more information about this report visit https://www.researchandmarkets.com/r/uutpmw
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