According to the latest report by IMARC Group, titled "Vegan Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the global vegan cheese market grew at a CAGR of around 12% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Vegan cheese is formulated using plant-based ingredients, such as soy protein, nuts, nutritional yeast, and assorted bacterial cultures. It is mixed with starch, emulsifiers, oils, thickeners, and spices to mimic the dairy cheese flavor. It is available in a variety of forms, such as shredded, cream cheese, block and sliced, soft cheese, parmesan-style, and nacho cheese dip. As a result, its consumption is increasing among the vegan population.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
Vegan cheese is increasingly being employed in the food and beverage (F&B) industry on account of its low-fat content as compared to regular cheese. This, in confluence with a considerable rise in the demand for ready-to-eat (RTE) vegan food products, represents one of the key factors strengthening the growth of the market. Besides this, leading market players are introducing innovative vegan cheese flavors with pea protein, carrageenan, xanthan gum, arrowroot, tapioca flour, and thickening agents to expand their consumer base across the globe.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Daiya Foods Inc.
- Dr-Cow Tree Nut Cheese
- Galaxy Nutritional Foods Inc. (Greenspace Brands Inc.)
- Good Planet Foods LLC
- Kite Hill
- Miyoko's Creamery
- Parmela Creamery
- Tofutti Brands Inc.
- Tyne Chease Limited
- Violife Foods
- Vtopian Artisan Cheeses
Breakup by Product Type:
- Mozzarella
- Cheddar
- Parmesan
- Ricotta
- Cream
- Others
Breakup by Source:
- Soy
- Almond
- Coconut
- Cashew
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Application:
- Household
- Food Processing
- Foodservice
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.