Being completely plant-based, vegan cheese is deemed a loaded resource of soy protein. As vegan cheese is cholesterol-free, it is more and more utilized in vegan snacks, bakery products, and fast food products like burgers, pizza, and others. It is prepared from soy milk, coconut oil, and plant milk derived from nuts like pine nuts, almonds, and cashews.
The key factor projected to drive the growth of the global vegan cheese market is the growing trend of veganism. Also, the major vegan cheese brands are intensifying their promotional approaches to reach out to more people. Further, the rising cognizance regarding the adverse environmental effects triggered by the dairy industry and animal cruelty has stimulated customers to choose plant-based products. All these factors will propel the market growth during the forecast period. in addition, the accessibility of vegan cheese in diverse flavors like cranberry, blueberry, caramel, and others is offering the customers a way to experience new tastes, thus fueling the market growth.
The global vegan cheese market is bifurcated based on product form, product type, end-use, source, distribution channel, and region. the global market, by product type, is segregated into mozzarella, parmesan, cream cheese, ricotta, and cheddar. The global market, by end-use, is bifurcated into food processing, foodservice, and retail & household. The global market, by product form, is divided into blocks & wedges, slices, and shreds. The global market, on the basis of distribution channel, is classified into indirect sales and direct sales. The global market, by source, is categorized into almond, coconut, cashew, soy, and other types such as pine nuts.
Regionally, the global vegan cheese market is projected to be ruled by North America during the forecast period due to the accessibility of advanced production and manufacturing facilities along with the rising requirement for healthy ready-to-eat snacks. Further, Asia Pacific region is anticipated to witness considerable expansion in the years to come owing to the increasing spending on nutritional food, rising urbanization, growing alertness about the medicinal advantages of the plants-based dairy products, and escalating expenditure on health products.
Few of the prominent players actively participating in the global vegan cheese market comprise Gardener Cheese Company, GreenSpace Brands, violifefoods.com, Chicago Vegan Foods, Bute Island Foods Ltd, Kite Hill, Tofutti Brands Inc., Nush Foods, Vtopian Artisan Cheeses., and DAIYA FOODS INC., among others. To cite, in 2018, a new plant-based cheese line was introduced by Valio Ltd. under its Oddlygood brand for the U.S. foodservice sector. Its products are made with coconut oils and potato starch protein.