Vegan Cheese And Processed Cheeses Market Report

Market Insights

The Global Vegan Cheese and Processed Cheeses Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of xx% during the forecast period.

Figure: Global Vegan Cheese and Processed Cheeses Market Size, 2020-2026 (USD Million)

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What are Vegan and Processed Cheese?

Vegan cheese is a plant-based non-dairy variant of cheese aimed at vegans and other people who want to avoid consuming animal-derived products as well as lactose-intolerants. This cheese can be made from sesame seeds, cashews, soybeans, sunflower seeds, rice, coconut oil, almonds and other nuts, and nutritional yeast. The processed cheesy sector has a rather higher concentration.

Key Players

Key players operating in the global vegan cheese and processed cheeses market are-

• Daiya (Canada),
• Tofutti (The U.S),
• Heidi Ho (The U.S),
• Kite Hill (The U.S),
• Dr. Cow Tree Nut Cheese (The U.S),
• Uhrenholt A/S (Denmark),
• Bute Island Foods (UK),
• Vtopian Artisan Cheeses (The U.S),
• Punk Rawk Labs (The U.S), and
• Violife (Greece).

Market Dynamics

Veganism was once considered a fashion and a cool trend that has now become mainstream with millennials driving the trend.

• The rising concern about animal welfare and increasing consciousness regarding the sustainability offered by the vegan food sector are the prime factors promoting veganism, thus augmenting the product demand.
• Moreover, increasing concerns about health problems regarding the consumption of dairy products is further bolstering a shift towards vegan products, hence, boosting the product consumption.

Segment Analysis

Product Trends

By product, the vegan cheese and processed cheeses market has been bifurcated into processed cheese and vegan cheese.

• The vegan cheese segment accounted for the largest share in the global market and is projected to grow at a considerable CAGR in the coming years.
• The upsurge in the popularity of veganism has prompted food manufacturing facilities to incorporate dairy-free and cruelty-free substitutes in the production of a different variety of food products.
• Vegan cheese finds widespread usage in bakeries and fast-food joints.

Regional Trends

Based on region, North American dominated the vegan cheese and processed cheeses market in 2020 and is likely to grow at a moderate CAGR during the assessment period.

• This is mainly due to strong awareness of animal cruelty due to robust vegan outreaches in the region coupled with growing awareness of veganism as a healthy lifestyle.
• Moreover, the presence of a large number of product manufacturers enables the product to be sold at a lower cost and is easily available unlike in other regions across the globe.

COVID-19 Impact on Global Vegan Cheese and Processed Cheeses Market

The vegan food industry has witnessed a moderate decline due to disruption of the supply chain and partial or complete shutdown of production facilities. However, due to the spread of coronavirus, a zoo-tonic disease, there is a growing awareness regarding the consumption of safer and animal-free products, thus veganism is going to gain traction post-pandemic. This will result in higher demand for vegan cheese and processed cheese, thus boosting the product demand.

Critical Questions Answered in the Report

• What are the key trends in the global vegan cheese and processed cheeses market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global vegan cheese and processed cheeses market?
• What are the key strategies adopted by the major vendors to lead in the global vegan cheese and processed cheeses market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Vegan Cheese and Processed Cheese market aims to convert the most:

• Vegan cheese and processed cheeses companies
• Vegan organizations
• R&D centers
• Plant-based milk companies
• Hospitality sector

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