Vegan Cheese Market Outlook to 2030: Top Manufacturer Analysis, Industry Overview and Forecast Report

 Vegan Cheese Industry Overview

The global Vegan Cheese Market size is expected to reach USD 7.10 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.6% from 2022 to 2030. Increasing acceptance of veganism among consumers, especially among millennials, has been fueling market growth. The growing awareness regarding animal cruelty and the negative impacts on the environment caused by the dairy industry has encouraged consumers to opt for plant-based products.

The mozzarella product segment held the largest revenue share in 2021 and is expected to maintain its lead over the forecast period. Mozzarella is widely used in Italian dishes, such as pasta, pizzas, croquettes, and Caprese salad, and is available in the form of slices, cubes, shredded, and spreads. Therefore, the demand for mozzarella is significantly high in countries where Italian cuisine is increasingly popular. The cashew source segment captured the largest revenue share in 2021. Cashew-based cheese contains low fat and vitamin B2 and B12. This makes it favorable among health-conscious consumers all over the world. Furthermore, gluten-free and cholesterol-free cashew products are gaining traction owing to their health benefits.

The B2C end-use segment led the market in 2021. Increased consumer disposable income and willingness to spend on premium products have led to a rise in the demand for plant-based cheese in the household segment. The market for vegan cheese has a large number of regional and international players. These manufacturing companies have been launching new products across the globe owing to the rising demand for vegan products among vegetarian, vegan, and health-conscious consumers.

Vegan Cheese Market Segmentation

Grand View Research has segmented the global vegan cheese market on the basis of product, source, end use, and region:

 Based on the Product Insights, the market is segmented into Mozzarella, Cheddar, Parmesan, Ricotta, Cream Cheese and Others.

  • The mozzarella segment held the largest revenue share of over 30.0% in 2021 and is expected to maintain its lead over the forecast period.
  • The ricotta segment is projected to register the fastest CAGR of 14.0% during the forecast period. The growing application scope of this product in Italian dishes, such as manicotti, lasagna, roll-up, high tea, and ravioli, has been fueling its demand, thereby augmenting the segment growth.

Based on the Source Insights, the market is segmented into Soy, Almond, Cashew, Coconut and Others.

  • The cashew segment held the largest revenue share of more than 35.0% in 2021 and is expected to maintain its dominant position throughout the forecast period. 
  • The soy segment is projected to register the fastest CAGR of 13.1% from 2022 to 2030. Soy milk is a low-cost substitute for dairy and has a complete balance of desirable fatty acids and amino acids. 

Based on the End-Use Insights, the market is segmented into B2C and B2B.

  • The B2C segment led the global market in 2021 and accounted for a revenue share of more than 50.0%. Factors such as increased consumer disposable income levels and willingness to spend on premium products have led to a rise in the demand for plant-based products in the B2C segment
  • The B2B segment is expected to register the fastest growth rate of 13.0% during the forecast period. Several restaurants, fast food chains, and casual dining venues have been incorporating plant-based foods and drinks in their menus on account of the rising popularity of flexitarian and plant-based diets.

Vegan Cheese Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa (MEA)

Key Companies Profile

The global market has a large number of regional and international players. Key manufacturing companies have been launching new products owing to the rising demand for vegan products.

Some prominent players in the global Vegan Cheese market include

  • Treeline Cheese
  • Follow Your Heart
  • Daiya Foods Inc.
  • Kite Hill
  • Violife
  • Dr-Cow Tree Nut Cheese
  • Tofutti Brands, Inc.
  • Tyne Chease Limited
  • Miyoko's Creamery
  • Parmela Creamery

Order a free sample PDF of the Vegan Cheese Market Intelligence Study, published by Grand View Research.

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