Vegan Cheese Market

Vegan Cheese Market Outlook (2024 to 2034)

Revenue from the sales of vegan cheese is poised to reach US$ 3.58 billion in 2024, as stated in the newly published report by Fact.MR. The global vegan cheese market has been forecasted to expand at a CAGR of 8.5% and reach a valuation of US$ 8.1 billion by the end of 2034.

Surging demand for plant-based products is contributing to the growing preference for vegan cheese. In addition, increasing cases of lactose intolerance among a larger population are also stimulating demand for vegan cheese as an alternative to conventional milk cheese.

Veganism was once considered a fashion trend; however, millennials have now made it mainstream. Increasing concerns related to animal welfare and consideration of sustainability are offering lucrative opportunities for manufacturers in the vegan flavor market. Growing concerns about different health problems related to dairy product consumption are stimulating more individuals to make a shift toward veganism. Certain research has also suggested that the use of hormones, allergens, and antibiotics in cattle to boost production capacity is having an adverse impact on the dairy industry.

Several manufacturers in the food & beverage industry are focusing on the production of vegan products to capitalize on the increasing popularity of veganism globally. The active involvement of several sports personalities and celebrities in the endorsement of vegan products is further contributing to the expansion of the vegan cheese market size.

• Worldwide demand for vegan cheese for use in the food service/HoReCa sector is analyzed to increase at an 8.7% CAGR and reach a market value of US$ 3 billion by the end of 2034.
• North America is calculated to account for a 24.3% share of the global market by 2034.
• Sales of vegan cheese in Japan are calculated to climb at a CAGR of 9% from 2024 to 2034.

Report Attribute	Detail
Vegan Cheese Market Size (2024E)	US$ 3.58 Billion
Forecasted Market Value (2034F)	US$ 8.1 Billion
Global Market Growth Rate (2024 to 2034)	8.5% CAGR
Market Share of Mozzarella Cheese (2034F)	18.9%
East Asia Market Share (2034F)	23.1%
South Korea Market Growth Rate (2024 to 2034)	9.3% CAGR
Key Companies Profiled	Kite Hill; Reine Vegan Cuisine; Daiya Foods Inc.; Kinda Co.; Parmela Creamery; Galaxy Nutritional Foods, Inc.; Mad Millie; Bute Island Foods Ltd.; UPrise Foods; Vermont Farmstead; Tesco Free From; Punk Rawk Labs; Wayfare Inc.; Miyoko’s Kitchen, Inc.; Regal Vegan.

Why is Demand for Vegan Cheese Increasing at a Significant Pace Around the World?

“Cholesterol-free Nature of Vegan Cheese Contributing to Increased Consumption”

The rising popularity of veganism is stimulating several food manufacturing units to incorporate dairy-free alternative options in the production of a wide variety of food products. There is an increased consumption of vegan cheese in fast food joints and bakeries. Some of the prominent fast food ventures, including McDonald’s and Domino's are serving vegan pizzas, burgers, and several other vegan food options. In addition, a rising number of retail and grocery stores are offering a wide variety of vegan cheese options to attract a larger consumer base.

Vegan cheese is available in multiple flavors, such as blueberry, caramel, cranberry, and some others, to offer consumers an opportunity to experience novel tastes. Furthermore, as one of the most popular protein sources, it is becoming a preferred healthy option among lactose intolerant and obese populations. Its cholesterol-free nature is contributing to its increased consumption of multiple food products.

What Issues are Market Players Actively Working On?

“Comparatively High Prices of Vegan Cheese”

High cost of vegan cheese compared to conventional dairy cheese is impeding vegan cheese market growth. Nuts, peas, and some other nutrient-dense options are used in the production of vegan cheese, which is ultimately leads to higher prices of end products, subsequently limiting its affordability for several consumers.

Which Initiative by Start-ups is Helping Them Secure Their Market Position?

“Growing Focus on Improving Mouthfeel and Texture of Vegan Cheese”

New market players are increasing their expenditure on offering more nutrient-rich vegan cheese. They are constantly putting efforts into improving the mouthfeel and texture of vegan cheese to match the qualities of its counterparts, such as regular dairy products.

Country-wise Insights

According to a newly published report by Fact.MR, a market research and competitive intelligence provider, North America is expected to account for a share of 24.3% by 2034-end. The availability of advanced manufacturing units in the region is responsible for the increased production of vegan cheese. Moreover, the growing health consciousness and prevalence of lactose intolerance are also widening the application scope of vegan cheese in North America.

What Makes the United States an Attractive Market for Vegan Cheese Companies?

“Growing Interest in Vegan Products Generating Lucrative Market Growth Opportunities”

Attribute	United States
Market Value (2024E)	US$ 380.9 Million
Growth Rate (2024 to 2034)	8.9% CAGR
Projected Value (2034F)	US$ 897.2 Million

The United States is projected to hold a 45.6% vegan cheese market share in North America by the end of 2034. More individuals in the country are showing an interest in vegan products, such as cheese. Thereby, several market players, such as Follow Your Health, Treeline Tree Nut Cheese, Miyoko’s Creamery, and others are actively involved in matching consumer requirements.

Most health-conscious and lactose-intolerant consumers are opting for dairy-free cheese to keep a check on their health. The easy availability of vegan cheese in popular restaurant chains and stores is also contributing to revenue streams for market players.

Why is Vegan Cheese Gaining Prominence in China?

“Focus on Experimenting with Vegan Cheese in Developing Innovative Fusion Foods”

Attribute	China
Market Value (2024E)	US$ 392.3 Million
Growth Rate (2024 to 2034)	8.5% CAGR
Projected Value (2034F)	US$ 888.4 Million

China is analyzed to capture a 47.5% share of the East Asia market by 2034. The increasing willingness of several consumers to consume plant-based cheese is opening new doors for market players. Several recipe makers are integrating dairy-free cheese and its byproducts into the culinary culture to develop novel fusion foods. Some companies are incorporating strategic partnerships with local food distributors to broaden their reach.

For instance:

• Youkuai Group International is one of the prominent firms in China offering plant-based food products, such as cheese. In May 2023, the company entered into a partnership with Usource, which is a local food distributor, to improve its reach to consumers.

What is the Market Scenario for Vegan Cheese in Japan?

“Rising Adoption of Cruelty-free Products Pushing Demand for Plant-based Cheese”

Attribute	Japan
Market Value (2024E)	US$ 231.8 Million
Growth Rate (2024 to 2034)	9% CAGR
Projected Value (2034F)	US$ 549.9 Million

Japan is estimated to contribute 29.4% of the revenue share in East Asia by 2034. The rising adoption of veganism and vegetarianism is contributing to vegan cheese market trends in Japan. Similarly, there is a growing preference for cruelty-free food products in Japan, which is driving demand for several vegan cheese-based dishes, such as tacos, pizza, pasta, and many more. Therefore, the surging popularity of vegan cheese is inducing health food stores and supermarkets to stock it.

Category-wise Insights

A newly published study by Fact.MR reveals that supermarkets and hypermarkets are contributing to a significant increase in the sales of vegan cheese as consumers get complete information about the products they purchase. In addition, discounts offered by these stores are also compelling consumers to purchase vegan cheese from these outlets.

Which Type of Vegan Cheese is Most Widely Consumed?

“Extensive Use of Vegan Mozzarella Cheese in Several Fast Food Dishes”

Attribute	Mozzarella
Segment Value (2024E)	US$ 666.1 Million
Growth Rate (2024 to 2034)	8.7% CAGR
Projected Value (2034F)	US$ 1.53 Billion

Mozzarella cheese is forecast to occupy a share of 18.9% of global market revenue by 2034. The growing use of mozzarella cheese in some popular dishes, particularly pizza, is contributing to its consumption. In addition, a proliferating vegan movement across regions such as North America and East Asia is stimulating more consumers to opt for delicious plant-based fast food options, such as pizza, burgers, and many more.

Some market players are also coming up with improved vegan mozzarella cheese to ensure the active involvement of more consumers in cheesy goodness without the use of traditional dairy products.

Which End User Accounts for Substantial Revenue Streams?

“Rising Environmental Awareness Boosting Use of Vegan Cheese in Foodservice/HoReCa Industry”

Attribute	Foodservice/HoReCa
Segment Value (2024E)	US$ 1.3 Billion
Growth Rate (2024 to 2034)	8.7% CAGR
Projected Value (2034F)	US$ 3 Billion

The food service/HoReCa (hotel, restaurant, and café/catering) sector is calculated to occupy 37.1% of the vegan cheese market share by the end of 2034. Several food service establishments are recognizing the increasing need for vegan products. Emphasis on unique dining experiences, such as themed restaurants and interactive dining, is enhancing customer engagement. Growing awareness of the health benefits and environmental sustainability associated with plant-based foods attracts a larger customer base.

Competitive Landscape

Key players in the vegan cheese industry are focusing on mergers, joint ventures, and acquisitions to strengthen their supply chain systems. In addition, several multinational companies are also trying to acquire small-scale companies to increase their production capacity and product portfolio.

For instance:

• Stockeld Dreamery is a start-up based in Sweden that offers vegan dairy products. In February 2024, the company offered a fermented cheddar slice to elevate the experience of consumers. This newly plant-based cheese is produced from fermented legume milk.
• The Compleat Food Group, in April 2024, returned to the M&A industry with an acquisition of Palace Culture, a United Kingdom-based business offering dairy-free cheese. This newly acquired company is expected to strengthen the company’s product line.

Fact.MR provides detailed information about the price points of key manufacturers of vegan cheese positioned across the world, sales growth, production capacity, and speculative technological expansion, in this newly published market report.

Segmentation of Vegan Cheese Market Research

• By Product Type :

  • Mozzarella
  • Cheddar
  • Pepper Jack
  • Parmesan
  • Gouda
  • Others

• By End User :

  • Food Industry
  • Foodservice/HoReCa
  • Household

• By Nature :

  • Organic
  • Conventional

• By Form :

  • Shreds
  • Blocks & Wedges
  • Slices

• By Source :

  • Almond
  • Coconut
  • Soy
  • Cashew
  • Others

• By Distribution Channel :

  • Indirect Sales
  • Traditional Grocery Stores
  • Hypermarkets/Supermarkets
  • Direct Sales
  • Online Retailers
  • Convenience Stores
  • Specialty Retail Stores

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA