Dublin, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The "Vegan Cheese Market by Product, Source, and End Use: Global Opportunity Analysis and Industry Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The vegan cheese market size was valued at $1,237. 8 million in 2019, and is estimated to reach $4425. 6 million by 2027, registering a CAGR of 15. 5% from 2021 to 2027.
Vegan cheese, on the other hand, is entirely plant-based and it involves consolidating the protein mass from various plant sources with lactic bacteria that may also be added in for acidity. Vegan cheese can be made from soy protein, nutritional yeast, thickening agar flakes, nuts, tapioca flour, natural enzymes, vegetable glycerin, assorted bacterial cultures, arrowroot, and pea protein.
The rise in awareness of lactose-intolerant conditions among consumers is the key factor driving the global vegan cheese market growth globally. Therefore, consumers prefer buying products such as vegan cheese, vegan meat, and vegan yogurt. According to analytical study conducted by the National Library of Medicine in 2018, around 65% of human population has low ability to digest lactose after infancy.
Lactose intolerance in adulthood is most prevalent especially in developing economies. This will increase the sales of vegan cheese and is anticipated to boost the growth of the target market during the forecast period. However, high price and limited awareness is hampering the growth of the global market.
Household consumption of the vegan cheese is growing highest pace, owing to growth in awareness regarding the benefits of the plant-based dairy products, availability at convenience store, and growth in trend of flexitariaon diet. It has been gaining considerable popularity among the millennial population, owing to various benefits such as it improves mental health condition and reduces severity of certain allergies and eczema.
Growth in urbanized population, increase in spending on health-related products, and surge in cardiovascular, chronic, and obesity linked diseases are majorly driving the growth of the vegan cheese market.
However, a lack of awareness regarding the benefits of vegan cheese and high prices are likely to hamper the growth of the vegan cheese market during the forecast period. Despite the high prices, COVID-19 pandemic has been positively influencing the growth of the vegan cheese market. As people are highly conscious and wish to improve the health and immunity power by consuming highly nutritious food through plant-based cheese.
The major players operating in the market are Bute Island Foods Ltd, GreenSpace Brands, violifefoods. com, Vtopian Artisan Cheeses, Chicago Vegan Foods, Gardener Cheese Company, Tofutti Brands Inc., Kite Hill, DAIYA FOODS INC., and Nush Foods.
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top investment Pockets
3.3. Value Chain Analysis
3.4. Porter's Five Forces Analysis
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Increase in Purchasing Power
3.5.1.2. Changes in Lifestyle and Food Habits
3.5.1.3. Increase in Number of Organized Retailing Outlets Worldwide
3.5.1.4. The Rise in Vegan Population
3.5.2. Restraints
3.5.2.1. Availability of Healthier Substitutes
3.5.2.2. Lack of Storage and Transport Facility
3.5.3. Opportunities
3.5.3.1. Rise In vegan Population
3.5.3.2. Rapid Growth of the Retail Sector
3.6. Impact of Covid-19 on the Vegan Cheese Market
Chapter 4: Vegan Cheese Market, by Product
4.1. Overview
4.1.1. Market Size and Forecast
4.2. Mozzarella
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast
4.3. Cheddar
4.4. Pepper Jack
4.5. Parmesan
4.6. Gouda
4.7. Others
Chapter 5: Vegan Cheese Market, by Source
5.1. Overview
5.1.1. Market Size and Forecast
5.2. Soy Milk
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast
5.3. Almond Milk
5.4. Rice Milk
5.5. Others
Chapter 6: Vegan Cheese Market, by End Use
6.1. Overview
6.1.1. Market Size and Forecast
6.2. Household
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast
6.3. Food Industry
6.4. Foodservice Industry
Chapter 7: Vegan Cheese Market, by Region
Chapter 8: Competition Landscape
8.1. Top Winning Strategies
8.2. Competitive Dashboard
8.3. Competitive Heat Map
8.4. Key Developments
8.4.1. Partnership
8.4.2. Business Expansion
8.4.3. Product Launch
Chapter 9: Company Profiles
9.1. Bute Island Foods Ltd.
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Product Portfolio
9.1.5. Key Strategic Moves and Developments
9.2. Greenspace Brands
9.3. Violifefoods. Com
9.4. Vtopian Artisan Cheeses
9.5. Chicago Vegan Foods
9.6. Gardener Cheese Company
9.7. Tofutti Brands Inc.
9.8. Kite Hill
9.9. Daiya Foods Inc.
9.10. Nush Foods
For more information about this report visit https://www.researchandmarkets.com/r/j5d91y
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