Global Vegan Cheese Market Report and Forecast 2024-2032

Global Vegan Cheese Market Outlook

The global vegan cheese market size attained a value of USD 1.30 billion in 2023. The market is expected to grow at a CAGR of 13.4% between 2024 and 2032, reaching almost USD 4.03 billion by 2032.

Key Takeaways

• The global vegan population is estimated to constitute approximately 1% of the global population.

• PizzaExpress introduced vegan cheese pizzas nationwide in India, fuelling the demand for vegan cheese in the country.

• Vegan cheese, an alternative to dairy, mimics traditional cheese without animal ingredients. It is made from nuts, soy, coconut oil, and other plants.

Vegan cheese, also known as plant-based cheese, is a dairy-free alternative to traditional cheese made from animal milk. It avoids animal-derived ingredients and is designed to imitate the taste, texture, and melting characteristics of dairy cheese. Its production involves various plant-based elements like nuts (such as cashews, almonds, or macadamia nuts), soy, coconut oil, nutritional yeast, tapioca starch, and other plant-based additives. By blending and processing these ingredients, a cheese-like product is created, capable of being sliced, grated, or melted.

Available in various forms such as blocks, slices, shreds, spreads, and artisanal varieties, vegan cheese caters to different preferences. Additionally, it comes in a variety of flavours including cheddar, mozzarella, pepper jack, feta, and cream cheese. According to the National Centre for Biotechnology Information, the prevalence of vegan diets among Saudi adults stood at 4.7% in 2022 thus, further boosting the global vegan cheese market growth.

Key Trends and Developments

The vegan cheese market growth is driven by growing awareness of health, environmental impacts of dairy, growing food companies and startups and innovation in product variants.

January 2023

Aldi UK unveiled its most extensive range of plant-based cheeses to date, including vegan camembert, feta, and parmesan varieties.

December 2023

Daiya, a Canadian brand, released its new vegan cheese range using an oat cream base and traditional fermentation methods for a dairy-like taste.

August 2023

Singapore's Agrocorp International, a global agrifood supplier, and parent firm of plant-based brand HerbYvore, introduced HerbY-Cheese, Singapore's first vegan cheese range mimicking dairy.

March 2023

PlantWise launched plant-based cheeses in India, replicating dairy's taste, melt, and spread, offering delightful spreads in classic, garlic, and pepper flavours.

Rising popularity of veganism

The surge in veganism broadens the global vegan cheese market. Increased consumer adoption leads to higher demand, prompting expanded product offerings by retailers. Moreover, this trend fosters innovation, enhancing the quality and variety of vegan cheese. For instance, the Laughing Cow debuted its initial almond-based vegan cheese in the UK.

Growing awareness of health, and environmental impacts

Consumers increasingly recognise health risks associated with dairy, including lactose intolerance, allergies, and cholesterol concerns. This is driving the global vegan cheese market, which offers lower saturated fat and meets various dietary needs. Additionally, environmental awareness boosts interest in sustainable options, with vegan cheese boasting a smaller carbon footprint than traditional dairy.

Growing food companies and startups

As per the global vegan cheese market report, the industry is highly competitive, attracting both established brands and startups, driving innovation and increasing product variety. This expansion reached beyond retail stores to the food service sector, with more restaurants and fast-food chains incorporating vegan cheese into their menus. For example, PizzaExpress launched vegan cheese pizzas across India.

Innovation in product variants

The emergence of inventive vegan cheese selections with distinctive tastes and textures captivates consumers, offering an appealing alternative to traditional dairy. Varied options such as smoky, aged, herb-infused, and artisanal-style cheeses cater to diverse preferences, boosting market appeal and usage. Chefs, cooks, and food enthusiasts enthusiastically incorporate vegan cheese into a plethora of dishes, from pizzas to pasta, driving its acceptance.

Global Vegan Cheese Market Trends

Growing ethical awareness prompts consumers to choose vegan cheese, readily found in supermarkets, speciality stores, and online, offering health and environmental benefits for those valuing personal and planetary wellness.

Vegan cheeses, often crafted from nuts like cashews, almonds, and macadamias, offer healthy fats without cholesterol, rennet, or other undesirable components typical of cow's milk cheese.

Market Segmentation

Global Vegan Cheese Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Cheddar

• Parmesan

• Mozzarella

• Others

Market Breakup by Source

• Soy

• Cashew

• Almond

• Coconut

• Others

Market Breakup by Distribution Channel

• Supermarket and Hypermarket

• Online

• Convenience Store

• Others

Market Breakup by Region

• North America 

• Europe 

• Asia Pacific 

• Latin America

• Middle East and Africa

Mozzarella drives the global vegan cheese market growth, favoured for its versatility in dishes like pizzas, pasta, salads, and sandwiches

Popular for its mild taste and meltable texture, mozzarella vegan cheese sees high demand as consumers seek plant-based alternatives for traditional dishes.

Cheddar-style vegan cheese's popularity stems from its close resemblance to traditional dairy cheddar, appealing to those transitioning to a vegan diet. Vegan parmesan, made from nuts, seeds, and spices, offers a healthier alternative.

Based on source, cashews led the global vegan cheese market share, owing to their naturally creamy texture and rich, subtly sweet taste

Cashews are easily processed into a creamy base for vegan cheese by soaking and blending them with water or other plant-based ingredients, resembling the texture of dairy cheese.

Almond-based vegan cheese has gained popularity for its abundance of protein, fibre, vitamin E, calcium, and unsaturated fats. Soy cheese, often enriched with calcium for bone health, is protein-rich and low in cholesterol, making it a healthy choice.

The global vegan cheese market development is further supplemented by the convenience provided by the e-commerce channel

Market segmentation is divided into distribution channels such as hypermarkets, supermarkets, convenience stores, and online platforms, enabling consumers to compare products and prices, and make informed purchasing decisions.

Manufacturers can establish secure partnerships through offline channels, fostering long-term collaborations and enhancing brand recognition. Additionally, the online distribution channel is expanding, with various platforms offering same-day delivery, fuelling its rapid expansion. Platforms like Doordash in the UK, Swiggy in India, and Uber Eats in the US have committed to same-day deliveries, accelerating their rapid growth.

Competitive Landscape

Market players are driving the global vegan cheese market growth with a focus on plant-based yoghurts, cheeses, delicious pasta, and dips.

Saputo Inc., established in 1954, Saputo Inc. is a Canadian dairy giant with its main offices in Montreal, Quebec. It stands as one of the largest dairy processors on a global scale, providing an extensive selection of dairy items such as cheese, milk, and yoghurt. Operating in over 50 countries, Saputo consistently expands its worldwide presence and product line.

Hochland SE was formed in 1927, Hochland SE is a German cheese producer located in Heimenkirch, Bavaria. Focused on a wide range of cheese selections, including sliced, grated, and unique varieties, Hochland SE holds a significant position in European and international markets. The company remains dedicated to delivering top-notch, flavourful cheese choices to customers globally.

Daiya Foods Inc. was established in 2008 in Canada, it is known for its line of cheese alternatives made from coconut oil and tapioca flour, renowned for their cheese-like texture and melting characteristics. These products are completely free from animal ingredients as well as soy, lactose, wheat, barley, gluten, and nuts.

Kite Hill was established in 2011, it specializes in plant-based yoghurts, cheeses, as well as delectable pastas and dips. Their mission is to craft foods that are not only irresistible but also sustainable.

Other global vegan cheese market key players are Tofutti Brands, Inc., Upfield B.V., Miyoko's Kitchen, Treeline Cheese, Bel Group, Violife, and others.

Global Vegan Cheese Market Analysis by Region

North America leads the vegan cheese market due to manufacturers' growing focus on product innovation in the region. Additionally, the expanding vegan population, driven by rising awareness of vegan cheese, will further stimulate market growth.

Europe experiences a notable rise in plant-based product demand, including vegan cheese, driven by health, environmental, animal welfare, and ethical considerations. Meanwhile, Asia Pacific emerges as the fastest-growing region, fuelled by rising demand for organic and natural plant-based foods, changing food preferences, and dining-out trends.

Key Highlights of the Report