Market Analysis: Global Vegan Cheese Market
Global vegan cheese market is expected to register a substantial CAGR of 7.96% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing prevalence of lactose intolerant population worldwide along with enhanced sustainable nature provided by the vegan food industry.
Few of the major competitors currently working in the global vegan cheese market are Kite Hill; Nush Foods; Tesco.com; Follow Your Heart; Field Roast; Miyoko’s; WayFare Inc; Good Planet Foods; The Regal Vegan; Tofutti Brands, Inc.; Bute Island Foods Ltd; Kinda Co.; So Delicious Dairy Free; Reine LLC; Uhrenholt A/S; Dr-Cow Tree Nut Cheese; Vtopian Artisan Cheeses; Parmela Creamery; Gardener Cheese Company; Daiya Foods Inc.; GreenSpace Brands among others.
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Market Definition: Global Vegan Cheese Market
Vegan cheese is a plant-based dairy alternative product which is manufactured with the extraction of milks from various nuts and plants. This product does not utilize the milk, nutrients derived from animals. Even with the consumption of plant-based raw materials the product is an excellent protein source while also providing cholesterol-free alternative to the consumers.
- Increasing prevalence of veganism as a mainstream habit instead of a rare fashionable interest is expected to drive the growth of the market
- Increasing concerns regarding the health of animals and restrictions on animal-based food products is expected to drive the growth of the market
- Variety of product offerings as well as major manufacturers focusing on expansion of their business operations worldwide is expected to drive the growth of the market
- Increasing rate of preference in adoption of dairy-free alternatives due to better nutritional value is expected to propel the growth of the market
- Higher priced products is expected to hinder the growth of the market
- Lower awareness rate amongst individuals in the developing regions of the world is expected to restrict the growth of the market
Segmentation: Global Vegan Cheese Market
By Product Type
- Cream Cheese
By Product Form
- Blocks & Wedges
- Pine Nuts
By Distribution Channel
- Convenience Stores
- Specialty Stores
- Retail Stores
By End-Use Industry
- Food Servicing
- Food Processing
- Bakery & Confectionery
- Dips & Sauces
- Dairy & Desserts
- Retail & Household
- Fast Food Snacks
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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Key Developments in the Market:
- In September 2018, GreenSpace Brands announced that they had introduced “Riot Eats” brand focused on delivering plant-based dairy products. The brand was unveiled at the “2018 Natural Products Expo East” and “CHFA East” held in United States and Canada respectively. The brand will be the only certified USDA organic cheese brand available for the North American market. This brand launch is the evidence to the strategy provided by the company to introduce vegan, dairy-free products that do not make it seem like a sacrifice for the vegan population
- In January 2018, GreenSpace Brands announced that they had completed the acquisition of Galaxy Nutritional Foods, Inc. for approximately USD 17.8 million. This acquisition will focus on making “Go Veggie” brand North America’s biggest plant-based food business, and will also result in greater presence of GreenSpace Brands in the North America region, especially for plant-based food products
Global vegan cheese market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vegan cheese market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Research Methodology: Global Vegan Cheese Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
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