The global vegan cheese products market was valued at USD 7.1 billion in 2022 and is projected to expand at a CAGR of 10.3% from 2023 to 2030. The increasing popularity of vegan diets is driving the demand for vegan cheese products. Moreover, the growing trend of flexitarianism is also driving the growth of the vegan cheese market as people are increasingly consuming dairy-based products in small amounts. Furthermore, a rise in the number of health-conscious consumers is increasing the demand for vegan cheese products. In addition, the attractive packaging and convenient availability of vegan cheese products have contributed to the growth of the market.

The increasing number of product launches is further driving the demand for vegan cheese products. For instance, in March 2021, Daiya Foods launched a new range of vegan cheese products in the US. The new additions to the brand’s portfolio include three new flavors of vegan cheese: classic mozzarella, smoked gouda, and sharp cheddar. The new products are gluten-free, non-GMO, and made with coconut oil. Furthermore, some market participants are focusing on expanding their product portfolio with the launch of new vegan cheese flavors. For instance, in August 2021, the Good Carma Foods announced the launch of the new vegan cheese brand, Karma Culture, which focuses on plant-based cheese. The brand will offer its products in a variety of flavors such as cheddar, mozzarella, parmesan, and feta.

The increasing demand for vegan cheese products due to their health benefits is also driving the market growth. Vegan cheese products are low in fat, cholesterol-free, and are a source of beneficial nutrients such as vitamins and minerals. Furthermore, the presence of a wide variety of vegan cheese products is expected to drive the market. For instance, in February 2021, the Israeli startup, Redefine Meat, launched Alt-Steak, a vegan steak product made from a combination of plant protein and fat, water, and other all-natural ingredients. The product was launched in Europe and is expected to be available in the US soon.

In addition, the growing demand for plant-based proteins is also driving the market. Plant proteins are a good source of essential amino acids and have a low environmental impact. Furthermore, the rising awareness about the benefits of vegan cheese products is also driving the market growth. For instance, in December 2021, the US-based vegan cheese brand, Miyoko’s Kitchen, launched a new cheese wheel that is made from cashews and is free from preservatives, artificial colors, and GMO ingredients. The launch is expected to provide a fillip to the company’s already established product portfolio.

The vegan cheese segment led the market and accounted for a share of around 38.8% in 2022. The growing demand for vegan cheese among health-conscious consumers is attributed to its high protein and fiber content, vitamins, minerals, and other essential nutrients. According to an article published by the American Cheese Society, in August 2020, vegan cheese sales increased by 16.9% in 2019. Furthermore, growing awareness regarding the health benefits of plant-based products, changing food habits, and the emergence of various vegan cheese brands are some of the key factors driving the demand for vegan cheese globally.

The vegan cream cheese segment is anticipated to expand at the fastest CAGR of 9.4% over the forecast period. The growing popularity of vegan cream cheese among health-conscious consumers is attributed to its rich flavor and creamy texture. Furthermore, the increasing demand for plant-based products, rising trend of snacking, and the emergence of various vegan cream cheese brands are some of the key factors driving the demand for vegan cream cheese globally.

The supermarkets and hypermarkets segment captured the major share of over 39.8% in 2022. Supermarkets & hypermarkets are the biggest retail outlets and offer a wide variety of vegan cheese products in one store, which helps customers to easily select the desired product. Moreover, these outlets also provide promotional activities, seasonal discounts, and attractive offers to customers, which increases their customer base. Supermarkets & hypermarkets offer convenience to customers and are the most preferred retail channels for vegan cheese products.

E-commerce is anticipated to expand at the highest CAGR of 12.4% over the forecast period. The growth of this segment is driven by the rising penetration of the internet and the growing number of smartphone users. Customers can purchase vegan cheese products from the comfort of their homes and can avail promotional offers and discounts from e-commerce platforms. Moreover, customers can compare the prices of different products and brands before making a purchase, which further attracts them to shop online.

The vegan cheese products segment is estimated to expand at a CAGR of 10.3% during the forecast period. The increasing health awareness and rising demand for plant-based food products are the major factors driving the market. Furthermore, the rising focus of manufacturers on product innovation such as the launch of vegan cheese with improved taste, texture, and aroma is further boosting the demand for vegan cheese products. For instance, in 2021, Bute Island Foods launched a vegan cheese called “Sheese” made from coconut oil and fortified with calcium.

The organic vegan cheese segment is projected to witness the highest CAGR of 11.2% over the forecast period. The increasing consumer inclination toward organic food products, coupled with the growing awareness of the health benefits of organic vegan cheese such as lower fat content, is propelling the growth of this segment. Furthermore, the rising consumer preference for gluten-free vegan cheese is also driving the market. For instance, in 2021, Vegusto launched a vegan cheese that is gluten-free and made from natural ingredients such as cornstarch, pea protein, and coconut oil.

Europe is expected to witness the highest growth in the vegan cheese market in the coming years. The high presence of vegan cheese manufacturers in the region is a major factor driving the growth in the region. Moreover, the increasing number of vegan consumers in the region is further expected to propel the growth of the market. For instance, in October 2021, Dutch Dairy giant FrieslandCampina launched a vegan cheese line in Europe.

In North America, the vegan cheese market is expected to witness a significant growth in the coming years. The increasing health consciousness among consumers is driving the demand for plant-based alternatives, thus, driving the growth of the market in the region. Moreover, the growing demand for vegan cheese as a topping in pizzas, burgers, and sandwiches is further expected to fuel the growth. For instance, in February 2022, Miyoko’s Kitchen launched a vegan cheese line with nine flavors in the U.S. and Canada.

In this section of the vegan cheese products business plan, we will provide a detailed breakdown of all the income and expense categories of the business. These projections include cash flow and capital requirements for the vegan cheese products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenue for a vegan cheese products business comes from the sale of products, such as vegan cheese slices, vegan cheese blocks, vegan cheese spreads, and vegan cheese sauces. Other possible sources of profit include retail sales, wholesale orders, private label sales, and catering orders.

Projecting Expenses
In this section, all the regular expenses related to keeping the vegan cheese products business running will be described. The list of operating expenses includes ingredients, packaging and labeling, wages, advertising, utilities, rent, and insurance policies.

Some of the key companies operating in the vegan cheese market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In February 2022, Kite Hill launched a line of vegan cream cheese alternatives in the US.

– In May 2022, Follow Your Heart launched a line of vegan parmesan cheese in the US.

– In July 2022, Daiya Foods launched a line of vegan cheese shreds in the US.

Some of the prominent players in the vegan cheese market include:

– Daiya Foods
– Follow Your Heart
– Kite Hill
– Violife
– VBites
– Good Planet Foods
– Nutritional Specialties Inc.
– Miyoko’s Kitchen
– Treeline Treenut Cheese
– Heidi Ho Organics

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global vegan cheese products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Non-dairy Cheese
– Dairy-free Cheese
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Refrigerated
– Non-refrigerated

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation?
[A]: The vegan cheese products market is projected to grow at a CAGR of 8.7% during the forecast period, owing to the increasing product innovation in the market. The increasing popularity of plant-based foods has led to the development of vegan cheese products that mimic the properties of traditional cheese products. Manufacturers are launching vegan cheese products with improved taste, health benefits, and convenience. For instance, Violife, a Greek vegan cheese producer, launched vegan cream cheese and feta cheese blocks and slices.

[Q]: Who are the Key Players in the Vegan Cheese Products Market?
[A]: Key players in the vegan cheese products market include Violife, Follow Your Heart, Daiya Foods Inc., Parmela Creamery, Dr. Cow, Miyoko’s Kitchen, Bute Island Foods, Kite Hill, and Treeline Treenut Cheese.

[Q]: Which Region Offers the Largest Opportunity for Sales of Vegan Cheese Products?
[A]: North America is expected to account for the largest share of the vegan cheese products market in 2020, owing to the increasing demand for vegan cheese products in the region. The growth of the vegan cheese products market in the region is driven by the presence of a large number of vegan cheese producers, the rise in the number of vegan restaurants and food chains, and the increasing awareness about the health benefits of vegan cheese products.

[Q]: What are the factors driving the vegan cheese products market?
[A]: The main drivers of the vegan cheese products market are the increasing demand for plant-based food products, the growing awareness about the health benefits of vegan cheese products, and the increasing number of vegan restaurants and food chains. Furthermore, the increasing number of vegan cheese producers, coupled with the availability of vegan cheese products in grocery stores, are expected to drive the growth of the market.