Vegan Cheese Market Segmentation Analysis Report 2021-2026 | Market Analysis on Size, Share, Growth, Trends, Demand, Competitive Analysis, and Forecast Report 2021-2026
Vegan Cheese Market: Research Overview
Vegan Cheese Market size was valued at USD 2.3 Billion in 2019, and it is expected to reach USD 5 billion by the end of 2026, with growth at a CAGR of 8% during the forecast period 2021-2026.
Burger King, a leading fast-food chain in the USA, launched a meatless variety of its signature burger. Burger King has partnered with Impossible Food, a vegan start-up to deliver the new burger. This vegan start-up also collaborated with White Castle and Red Robin. Additionally, Impossible Food is expected to launch its vegan product line in supermarkets this year.
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Vegan Cheese Market: Developments
The Canadian Food Inspection Agency (CFIA) recently issued an order to Blue Hero Creamery to stop labeling its products as cheese, locating in Vancouver. The CFIA found the description to be misleading to consumers. The CFIA later reversed the rejection.
In October 2019, Upfield, owner of the Flora, Stork, and I Can’t Believe It’s Not Butter brands, plans to acquire Violife Foods for 500 million euros, to take advantage of growing demand. of non-dairy consumers worldwide. The former Unilever, now owned by private equity firm KKR since late 2017, is the first bidder among several companies to take over the vegan cheese factory, as first reported.
The Canadian manufacturer and distributor of plant-based food products will be acquired by Japanese company Otsuka Pharmaceutical Co. Ltd., a wholly-owned subsidiary of Japanese company Otsuka Holdings Co. Ltd. In a statement, the companies say the acquisition in C $ 405 million “is expected to help expand Daiya’s presence in North America and beyond, while creating a global factory-based platform.”
Vegan Cheese Market: Growth Overview
Recent research has suspected the use of antibiotics, hormones, and allergens in livestock to increase meat production, creating a negative outlook for the dairy industry. Also, the growing awareness of environmental pollution caused by dairy farming practices is at the origin of the shift towards dairy alternatives. Several prominent players operating in the food and beverage market are embarking on the production of vegan products to capitalize on the growing popularity of veganism around the world. The approval of vegan products and the launch of several new channels by celebrities and sports figures are driving increased demand for vegan products around the world. The rise in popularity of veganism has led food manufacturing units to incorporate the dairy-free alternative in the production of a different variety of food products.
The availability of vegan cheese in different flavors such as caramel, cranberry, cranberry, and many other flavors offers consumers the opportunity to experience new flavors. On top of that, vegan cheese is cholesterol-free and a great source of protein, making it a healthy alternative for the obese and lactose-intolerant population. The market is gradually gaining penetration as manufacturers continue to improve the texture and mouthfeel of vegan cheese to match the qualities of its dairy counterpart.
Vegan Cheese Market: Regional Analysis
The global Vegan Cheese market has been categorized by geography in the regions of North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America is believed to remain at the forefront of the growth of the vegan cheese market due to the availability of advanced manufacturing and production facilities in the region. Vegan cheese sales in the region will continue to proliferate due to the growing demand for healthy ready-to-eat snacks. Furthermore, it is estimated that vegan cheese sales will increase in the same direction in Western Europe and that the region would gain a substantial market share for the foreseeable future. Rising disposable income and growing health awareness among consumers are likely to accelerate the developments in the vegan cheese market in the APEJ and MEA areas.
Global Vegan Cheese Market: Segmentation
According to the research report, the global Vegan Cheese Market is segmented by Source into Soy Milk, Almond Milk, Coconut Milk, and Rice Milk. And based on the Application, it is divided into Snacks, Dips & Sauces, and Bakery & Confectionery. And Based Product Type, sub-segmented into Mozzarella, Parmesan, Cheddar, Cream Cheese.
Global Vegan Cheese Market: Geographical Classification
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Global Vegan Cheese Market: Country Level Analysis
Our research study is not restricted to the global level only, we also covered our research study by country in the Global Vegan Cheese Market report are Canada, United States, Brazil, Mexico, Colombia, Czech Republic, Denmark, United kingdom, Argentina, Germany, Egypt, Finland, France, Ireland, Israel, Italy, Turkey, United Arab Emirates, Venezuela, Vietnam, Australia, Austria, Belgium, Chile, China, Hong Kong, India, Indonesia, Japan, Malaysia, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, and Thailand.
Global Vegan Cheese Market: Major Companies
According to research study the global vegan cheese market listed some of the major key players are such as Violife Foods, Daiya Foods, Tyne Chease Limited, Vtopian Artisan Cheese Company, Kite Hill, Miyoko’s Kitchen Company, Vermont Farmstead Company, Good Planet Foods, Follow Your Heart, Galaxy Nutritional Foods, Inc., Parmela Creamery, and Field Roast Grain Meat Co.
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