According to Maximize Market Research, the Global Vegan Cheese Market is expected to grow at a moderate growth rate and reach a significant market value by the end of the forecast period. The Global Vegan Cheese market has been witnessing steady growth during the 2019-2026 period. It is anticipated to grow at a CAGR of 12.32% throughout the period of assessment to reflect a market value of US$ XX Bn by 2026 from a value of US$ XX Bn in 2019. The Global Vegan Cheese Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Vegan Cheese Market report also provides trends by market segments, technology, and investment with a competitive landscape. Global Vegan Cheese Market To know about the Research Methodology :- Request Free Sample Report

Global Vegan Cheese Market Overview:

Vegan cheese is a term used to describe non-dairy, plant-based cheese alternatives. Vegan cheeses range from soft fresh cheeses to hard grateable cheeses that have been matured and cultured, such as plant-based Parmesan. The absence of all animal products is the distinguishing feature of vegan cheese. Vegan cheese can be created entirely of plant-based ingredients, such as proteins, lipids, and milk (plant milk). It can also be made using sesame, sunflower, and sunflower seeds, as well as nuts (cashew, pine nut, peanuts, and almonds) and soybeans; other components include coconut oil, nutritional yeast, tapioca, rice, potatoes, and spices.

Global Vegan Cheese Market Dynamics:

Drivers and Restraints:

Veganism's growing acceptance among consumers, particularly among millennials, has driven industry expansion around the world. Consumers are increasingly choosing plant-based goods as a result of growing awareness of animal cruelty and the severe environmental implications of the dairy sector. As a result, producers have begun to provide a variety of plant-based dairy replacements, including vegan cheese, which is gaining popularity in grocery stores throughout the world. Lactose intolerant folks make up a significant portion of the market. According to the National Institutes of Health in the United States, over 65 per cent of the human population has trouble digesting lactose, which represents a sizable market. To extend their product line and fulfil expanding customer demand, manufacturers around the world are investing heavily in product creation and acquisition. In addition, in response to the growing popularity of plant-based products, numerous large retail chains have expanded their plant-based product shelf space. The growth of flexitarian customers, who are replacing meat and dairy products with plant-based alternatives, is projected to be a major market driver. Furthermore, the impact of social media and animal welfare rights organisations exposing the effects of dairy and meat production on the environment, animals, and consumer health is critical for increasing consumer awareness. Also, traditional dairy firms, such as Danone, have entered the plant-based industry in order to meet rising demand. The lack of texture and flavour similarity between plant-based dairy products and traditional dairy products is a major impediment to the vegan cheese market's expansion. Widespread Adoption Among the Food Industries and Innovation of Variety of Products To Fuel the Market: Veganism's growing popularity has driven food producers to include the dairy-free alternative in a wide range of items. Vegan cheese is becoming increasingly popular in bakeries and fast-food restaurants. Leading fast-food chains such as Domino's and McDonald's have already begun providing vegan burgers, pizzas, and another vegan fast- food items in response to rising demand for vegan cheese. Furthermore, a growing number of grocery and retail outlets are also stocking vegan cheese in various kinds. Vegan cheese comes in a variety of flavours, including caramel, blueberry, cranberry, and many others, giving customers the opportunity to try new sensations. Vegan cheese is also cholesterol-free and high in protein, making it a healthy option for people who are overweight or lactose intolerant.

Recent Developments:

• Burger King, one of the country's major fast-food companies, has debuted a vegetarian version of its famous burger. The new burger was created in collaboration with Impossible Food, a vegan business. White Castle and Red Robin have also teamed with the vegan start-up. • Blue Hero Creamery, a vegan cheese store in Vancouver, has been told by the Canadian Food Inspection Agency (CFIA) to stop labelling its products like cheese. Consumers were misled by the description, according to the CFIA. The denial was later overturned by the CFIA. • Upfield, the owner of the Flora, Stork, and I Can't Believe It's Not Butter brands, plans to buy Violife Foods in October 2019 to capitalise on expanding customer demand for non-dairy products around the world.

Global Vegan Cheese Market Segment Analysis:

On the basis of source, the market is segregated into Coconut, Almond, Soy, Cashew and Others. In terms of source, the cashew sector accounted for more than 35.0 per cent of the market in 2019. Cashew milk is treated as a primary raw material by many producers in making of products, including Gardener Cheese Company, Dr-Cow Tree Nut Cheese, Kite Hill, Tyne Cheese Limited, VTOPIAN ARTISAN CHEESES, Parmela Creamery, Miyoko's Creamery and Fresh Start Fauxmage. Because of the product elements like anticholesterolemic, antiatherogenic, and hypolipidemic qualities, the soy cheese market is predicted to grow significantly throughout the projected period. It's a low-cost dairy alternative with a complete balance of healthy fatty acids and amino acids. On the basis of end-use, the market is segregated into Household, Food Processing and Food Service. In 2019, the household sector dominated the market, accounting for more than 50.0 per cent of global sales. The use of plant-based cheese has soared in the home segment, thanks to rising consumer disposable income and willingness to spend on premium products. This segment's rise has been aided by the products' widespread availability in supermarkets and convenience stores. Global Vegan Cheese Market 1 Foodservice is predicted to increase at the quickest rate over the projection period, with a CAGR of 13.2% from 2019 to 2026. Due to the growing popularity of a flexitarian and vegan diet, a number of restaurants, fast-food chains, and casual dining establishments have begun to include plant-based dishes and beverages on their menus. All plants, a plant-based meal-kit delivery service, launched in the United Kingdom in 2016. From 2016 to 2020, the company served over one million meals around the country. By 2026, the corporation intends to expand its market to Europe and North America. On the basis of product, the market is segregated into Parmesan, Mozzarella, Ricotta, Cream cheese and Cheddar. In 2019, Mozzarella had the highest market share of more than 30.0 per cent. Its widespread use in a variety of recipes contributes to the product segment's growth. Mozzarella comes in a variety of forms, including block, slice, cube, shreds, and spread, and is commonly used in Italian cuisines such as spaghetti, pizzas, croquettes, risotto, lasagna, and Caprese salad. Due to its texture and flavour, it is an essential component of pizza. As a result, mozzarella is in very high demand in western countries where Italian food is very popular. Green Vie Foods will introduce vegan mozzarella cheese to Tesco shops in July 2020. The product is soy-free, gluten-free, and palm oil-free, and has won a BBC Good Food award. Over the projected period, ricotta vegan cheese is predicted to increase at the fastest rate. The growing use of the product in Italian cuisines including manicotti, lasagna, and ravioli has fueled demand for the product. Ricotta baked in the oven is becoming increasingly popular in appetizers, pizza toppings, and desserts. Ricotta is now available from a number of well-known plant-based dairy companies, including Kite Hill and Tofutti Brands, Inc. NEW ROOTS AG, a plant-based dairy firm based in Switzerland, debuted “Free the Goat” ricotta cheese in November 2018. In Switzerland, the United Kingdom, Germany, and France, “Free the Goat” is available in a number of retail outlets.

Global Vegan Cheese Market Regional Analysis:

In 2019, Europe had the highest share of over 40.0 per cent. The region's main markets are Germany and the United Kingdom. Consumers' considerable purchasing power allows them to spend on high-end food items such as vegan alternatives, such as plant-based cheese. From 2019 to 2026, Asia Pacific is predicted to experience the fastest growth, with a CAGR of 15.3 per cent. Consumer dietary habits are changing, and customers in the region are becoming more health-conscious, which is fuelling demand for the product. Vegan cheese's main markets in the region include China, Japan, and Australia. In the future years, the rising demand for plant-based bakery and confectionery goods in the Asia Pacific is predicted to drive product sales, including vegan cheese. Additionally, increasing the availability of vegan dishes in restaurants and cafés has aided regional market expansion. For example, in April 2018, the iconic pizza restaurant Pizza Express launched its first vegan cuisine products on its menu. Global Vegan Cheese Market 2

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Global Vegan Cheese Market 3

Global Vegan Cheese Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Vegan Cheese Market Key Players

• Reine Vegan Cusine • Gardener Cheese Company • Tofutti Brands, Inc. • Violife • Dr-Cow Tree Nut Cheese • DAIYA FOODS INC. • Kite Hill • Tyne Chease Limited • VTOPIAN ARTISAN CHEESES • Miyoko's Creamery • Parmela Creamery • Go Veggie • Mad Millie • UPrise Foods • Nush • Tesco Free From • Follow Your Heart • Field Roast Grain Meat Co • Punk Rawk Labs • Wayfare • Good Planet Foods • Regal Vegan • Vermont Farmstead • Bute Island Foods Ltd • Galaxy Nutritional Foods • Kinda Co • So Delicious Dairy Free • SEROTONINA

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