Vegan Cheese Market size is set to grow by USD 1,267.56 million from 2022 to 2027; The increasing number of organized outlets to boost the market - Technavio

NEW YORK, May 29, 2023 /PRNewswire/ -- The global vegan cheese market size is estimated to grow by USD 1,267.56 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.97% during the forecast period. Europe is estimated to account for 39% of the global market growth during the forecast period. The regional market has grown steadily in recent years, fueled by increasing demand for plant-based alternatives to traditional dairy products. European consumers opt for vegan and vegetarian diets for health and ethical reasons. Additionally, concerns about the environmental impact of the dairy industry and animal welfare have also contributed to the rising popularity of vegan cheese. Furthermore, the growing trend toward plant-based diets isn't just limited to vegans and vegetarians. Hence, such factors drive market growth in the region during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Vegan Cheese Market - Segmentation Assessment Segment Overview
Technavio has segmented the market based on source (soy milk, almond milk, rice milk, and others), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• The market share growth by the soy milk segment will be significant for overall market growth during the forecast period. Soymilk is plant-based milk, which can closely replicate the texture and flavor of cow's milk, making it popular with vegan cheesemakers. Its vegan cheese is often viewed as a healthier and more sustainable alternative to traditional dairy cheese due to it is cholesterol-free and does not contribute to the environmental impact of dairy farming. For instance, some consumers may be willing to pay a premium for vegan cheese made from organic or non-genetically modified soybeans, while others may be willing to pay a premium for vegan cheeses without added vitamins and minerals. Hence, the soymilk segment of the global vegan cheese market is expected to grow during the forecast period.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Vegan Cheese Market – Market Dynamics

Key factor driving market growth

• An increasing number of organized outlets notably drives the vegan cheese market growth. 
• Organized retail is growing in the market due to the establishment of convenience stores, supermarkets, hypermarkets, and specialty stores around the world.
• Various large retail chains have been fairly aggressive in expanding their geographic footprint by opening new stores over the past five years.
• Additionally, Germany, the USA, Australia, Canada, France, Belgium, Netherlands, and China are other countries with high levels of organized retail.
• Hence, the increase in outlets is expected to drive the growth of the market during the forecast period. 

Leading trends influencing the market 

• Increasing demand for vegan cheese is an emerging trend influencing the vegan cheese market growth. 
• There is a growing awareness of the health benefits of a plant-based diet. With many people becoming more health conscious and looking for alternatives to traditional dairy products, which are often high in saturated fat and cholesterol, various products are low in fat and calories and often contain vitamins and minerals. 
• The dairy industry contributes majorly to greenhouse gas emissions, deforestation, and water pollution. Resultantly, many consumers are turning to plant-based alternatives to reduce their carbon footprint and contribute to a more sustainable future.
• Hence, the availability and diversification of vegan products drive the demand for vegan cheese in the market and is expected to drive its growth forecast period. 

Major challenges hindering the market growth

• The high cost and limited awareness are challenges hindering the vegan cheese market growth. 
• The manufacturing process is more complex and requires special equipment and techniques, resulting in a higher overall cost.
• Moreover, the market is relatively small compared to the traditional milk-cheese market, so economies of scale are not as developed as in the dairy industry.
• And in order to address cost challenges in the vegan cheese market, companies are taking several steps, including investment in research and development, to create more cost-effective and scalable production methods.
• Hence, such factors are expected to negatively affect the growth of the market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Vegan Cheese Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the vegan cheese market between 2023 and 2027
• Precise estimation of the size of the vegan cheese market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the vegan cheese market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vegan cheese market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Source
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global vegan cheese market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global vegan cheese market 2017 - 2021 ($ million)

• 4.2 Source Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Source Segment 2017 - 2021 ($ million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Source

• 6.1 Market segments 
• Exhibit 30: Chart on Source - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Source - Market share 2022-2027 (%)

• 6.2 Comparison by Source 
• Exhibit 32: Chart on Comparison by Source
• Exhibit 33: Data Table on Comparison by Source

• 6.3 Soy milk - Market size and forecast 2022-2027
• Exhibit 34: Chart on Soy milk - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Soy milk - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Soy milk - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Soy milk - Year-over-year growth 2022-2027 (%)

• 6.4 Almond milk - Market size and forecast 2022-2027
• Exhibit 38: Chart on Almond milk - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Almond milk - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Almond milk - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Almond milk - Year-over-year growth 2022-2027 (%)

• 6.5 Rice milk - Market size and forecast 2022-2027
• Exhibit 42: Chart on Rice milk - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Rice milk - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Rice milk - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Rice milk - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Source 
• Exhibit 50: Market opportunity by Source ($ million)
• Exhibit 51: Data Table on Market opportunity by Source ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 52: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 54: Chart on Comparison by Distribution Channel
• Exhibit 55: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 56: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 60: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 64: Market opportunity by Distribution Channel ($ million)
• Exhibit 65: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 France - Market size and forecast 2022-2027
• Exhibit 99: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.11 Australia - Market size and forecast 2022-2027
• Exhibit 103: Chart on Australia - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Australia - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Australia - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Australia - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 107: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Chicago Vegan Foods 
• Exhibit 119: Chicago Vegan Foods - Overview
• Exhibit 120: Chicago Vegan Foods - Product / Service
• Exhibit 121: Chicago Vegan Foods - Key offerings

• 12.4 Dairy Free Down Under 
• Exhibit 122: Dairy Free Down Under - Overview
• Exhibit 123: Dairy Free Down Under - Product / Service
• Exhibit 124: Dairy Free Down Under - Key offerings

• 12.5 First Grade International Ltd. 
• Exhibit 125: First Grade International Ltd. - Overview
• Exhibit 126: First Grade International Ltd. - Product / Service
• Exhibit 127: First Grade International Ltd. - Key offerings

• 12.6 Franklin Foods Inc. 
• Exhibit 128: Franklin Foods Inc. - Overview
• Exhibit 129: Franklin Foods Inc. - Product / Service
• Exhibit 130: Franklin Foods Inc. - Key offerings

• 12.7 Good Carma 
• Exhibit 131: Good Carma - Overview
• Exhibit 132: Good Carma - Product / Service
• Exhibit 133: Good Carma - Key offerings

• 12.8 GreenSpace Brands Inc. 
• Exhibit 134: GreenSpace Brands Inc. - Overview
• Exhibit 135: GreenSpace Brands Inc. - Product / Service
• Exhibit 136: GreenSpace Brands Inc. - Key offerings

• 12.9 Kite Hill 
• Exhibit 137: Kite Hill - Overview
• Exhibit 138: Kite Hill - Product / Service
• Exhibit 139: Kite Hill - Key offerings

• 12.10 Maple Leaf Foods Inc. 
• Exhibit 140: Maple Leaf Foods Inc. - Overview
• Exhibit 141: Maple Leaf Foods Inc. - Business segments
• Exhibit 142: Maple Leaf Foods Inc. - Key offerings
• Exhibit 143: Maple Leaf Foods Inc. - Segment focus

• 12.11 Miyokos Creamery 
• Exhibit 144: Miyokos Creamery - Overview
• Exhibit 145: Miyokos Creamery - Product / Service
• Exhibit 146: Miyokos Creamery - Key offerings

• 12.12 Nush foods 
• Exhibit 147: Nush foods - Overview
• Exhibit 148: Nush foods - Product / Service
• Exhibit 149: Nush foods - Key offerings

• 12.13 Otsuka Holdings Co. Ltd. 
• Exhibit 150: Otsuka Holdings Co. Ltd. - Overview
• Exhibit 151: Otsuka Holdings Co. Ltd. - Business segments
• Exhibit 152: Otsuka Holdings Co. Ltd. - Key offerings
• Exhibit 153: Otsuka Holdings Co. Ltd. - Segment focus

• 12.14 Saputo Inc. 
• Exhibit 154: Saputo Inc. - Overview
• Exhibit 155: Saputo Inc. - Business segments
• Exhibit 156: Saputo Inc. - Key news
• Exhibit 157: Saputo Inc. - Key offerings
• Exhibit 158: Saputo Inc. - Segment focus

• 12.15 Tofutti Brands Inc. 
• Exhibit 159: Tofutti Brands Inc. - Overview
• Exhibit 160: Tofutti Brands Inc. - Product / Service
• Exhibit 161: Tofutti Brands Inc. - Key offerings

• 12.16 Treeline Cheese 
• Exhibit 162: Treeline Cheese - Overview
• Exhibit 163: Treeline Cheese - Product / Service
• Exhibit 164: Treeline Cheese - Key offerings

• 12.17 Upfield BV 
• Exhibit 165: Upfield BV - Overview
• Exhibit 166: Upfield BV - Product / Service
• Exhibit 167: Upfield BV - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations 

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