Global Vegan Cheese Market Size, Trends, In-depth Analysis, Research Report Forecast up to 2028: Green Vie Foods and Tofutti Brands, Inc are key players.

Global Vegan Cheese Market is expected to grow at a CAGR of 10.48% to reach a market size worth US$2,742.855 million by 2028.

One of the primary factors contributing to the growth of the market for vegan cheese is the shifting consumer trend toward vegan and vegetarian diets. In addition, rising incidences of lactose-related allergies also support the demand for vegan cheese during the forecast period. Moreover, increasing disposable income, rapid urbanization, and growing health awareness are driving the growth of the global vegan cheese market. However, the high cost and negative perception regarding vegan cheese taste remain key challenges to market growth.

The vegan cheese demand has also been gaining traction due to the shifting consumer trend towards veganism and growing lactose intolerance cases.

Vegan cheese or plant-based cheese is a type of cheese that is manufactured entirely from plant proteins. They are often produced using soy, nuts like cashews and macadamias, and vegetable oils like coconut oil. Dietary limitations of health-conscious consumers and the growing popularity of veganism are key factors propelling the market's expansion. There has been an increasing trend toward veganism in various parts of the globe, projected to accelerate vegan cheese use. Moreover, rising lactose intolerance and other dairy-based allergies contributed to market growth during the analysis period. According to the European Plant-based Foods Association, around 70 percent of people worldwide have lactose intolerance.

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The global vegan cheese market is segmented into source, product type, distribution channel, and geography.

Based on the type of cheese, the market is categorized into Mozzarella, Parmesan, Cheddar, and others. The cheddar segment is expected to hold a significant market share among the abovementioned ones. Vegan cheddar is commonly made using soy, almonds, vegetable oils, and other organic ingredients, such as peas, tapioca, or arrowroot. Customers consider vegan cheddar a healthier alternative to regular cheese, as it has less fat than regular cheese and may help reduce the risk of heart disease. Therefore key market players are launching vegan cheddars to meet the growing demand for cheese.

The source-wise segmentation of the vegan cheese market includes Soy Milk, Almond Milk, Coconut Milk, and Others. According to the analysis, the soy milk segment is expected to have a significant market share during the forecasted period. There are many benefits associated with soy milk, such as its affordability and the ideal ratio between healthy fatty acids and amino acids. Therefore, it is a perfect economical choice for large-scale vegan cheese makers. In addition, since soy-based cheese is easier to melt and tastes better than other vegan cheeses, it is becoming more popular among customers.

Based on the distribution channel, the market for vegan cheese is categorized into Online and Offline. The offline segment is further divided into Hypermarkets and other sub-segments. The online distribution channel segment is expected to hold a significant market share among the abovementioned ones. The booming e-commerce industry and growing prevalence of internet-based vegan cheese startups are driving the growth of this segment during the forecast period.

The vegan cheese market is divided geographically into North America, South America, the Middle East and Africa, Europe, and Asia Pacific. Out of all the geographical regions North American region is expected to have a significant market share in the global vegan cheese market. The demand for plant-based food products in North American countries is driven by a rising trend towards veganism and increased health consciousness among consumers. Moreover, the government's positive actions to support vegan products are anticipated to increase demand for vegan cheese in the region. This would contribute to market development. However, due to consumer health concerns and an increase in lactose intolerance, the United States is predicted to occupy a significant market share. Therefore, the vegan cheese market in North America is divided between these three countries: the US, Canada, and Mexico.

The major global vegan cheese market players are GOOD PLANeT Foods, Kite Hill, Angel Food, Miyoko's Creamery, Green Vie Foods, Tofutti Brands, Inc, Bute Island Foods Ltd, WayFare Foods, VioLife and Galaxy Nutritional Foods, Inc.

This global vegan cheese market has been analyzed into the following segments:

• By Source

o Soy Milk
o Almond Milk
o Coconut Milk
o Others

• By Product Type

o Mozzarella
o Parmesan
o Cheddar
o Others

• By Distribution Channel

o Online
o Offline

• Hypermarkets
• Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others

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