The market for plant-based cheese is estimated to be worth US$ 3,068 million in 2024 and is projected to reach US$ 9,658 million by 2034. The market is anticipated to expand at a CAGR of 12.2% on average between 2024 and 2034. The plant-based cheese market is driven by customers in search of sustainable and cruelty-free substitutes for traditional dairy products.
Customers increasingly desire plant-based cheese over conventional ones due to health-conscious purchasing, ethical and environmental benefits, delicious taste, and diverse product offerings, reflecting a shift toward a more sustainable and plant-centric diet.
Consumption Analysis of the Plant-based Cheese
Attributes | Details |
---|---|
Plant-based Cheese Market Value for 2024 | US$ 3,068 million |
Plant-based Cheese Market Size for 2034 | US$ 9,658 million |
Market Forecast CAGR for 2024 to 2034 | 12.2% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
highlighting the predicted growth patterns for the plant-based cheese market. An impressive historical compound annual growth rate of 11.6% indicates the market is steadily expanding. Moreover, the industry is anticipated to grow at an astounding 12.2% through 2034.
Historical CAGR | 11.6% |
---|---|
Forecast CAGR | 12.2% |
Product innovation and growing consumer acceptance of veganism are just a few of the positive factors driving the industry's expansion. Many clients have been drawn to these nutritional substances because of their versatility, simplicity, and flexibility for customization.
Crucial factors that are anticipated to influence the demand for vegan cheese through 2034.
Due to these proactive features, which position the industry for long-term success, market participants must continue to be strategic and adaptive during the estimated period.
Popularity of Veganism in the Mainstream Media
Given the substantial nutritional content and numerous health advantages, plant-based diets are growing popular among individuals concerned about their health. These meals are rich in fiber, which helps reduce cholesterol and blood glucose levels, promoting overall well-being.
As the trend toward vegetarianism continues to gain momentum, more and more people are turning to plant-based cheese products, such as plant-based parmesan, which has led to exponential growth in the non-dairy cheese market. This rise in consumer inclination toward plant-based cheese is expected to drive sales in the coming years.
Adaption of Vegan Culinary Innovations in the HoReCa Sector
The millennial generation's growing interest in veganism and vegetarianism enhances the hotel, restaurant, and café industries. This change has also influenced the worldwide market for plant-based cheese, encouraging the food industry to innovate and create new goods and raising spending on research and development.
Vegan cheese is becoming increasingly popular because of its great taste and practicality. It has a longer shelf life, better flavor, and a better texture. The food sector is undergoing considerable transformation because of the rising trend of veganism and vegetarianism, driving innovation and growth in plant-based diets.
Health and Safety Code Shifts the Plant-based Cheese Market
Growing consumer knowledge of the health dangers connected with dairy products, including lactose intolerance, allergies, and cholesterol problems, has led many to choose vegan cheese as a superior alternative suitable for dietary restrictions or health goals.
As per the World Health Organization, diabetes is a primary cause of blindness, heart disease, renal issues, lower limb amputation, and several other health complications. Many consumers have switched to plant-based meals because of this. There are several health advantages to plant-based cheese, including decreased blood sugar, enhanced insulin sensitivity, and a reduced risk of type 2 diabetes.
The industry is growing because vegan cheese is recommended for lactose intolerant people and has a higher medical impact than typical dairy cheese.
This section provides extensive assessments of certain segments of the plant-based cheese business. The current study focuses on two primary features: the Soy milk-based cheese segment and the B2C distribution channel.
Attributes | Details |
---|---|
Top Source | Soy Milk |
Market Share in 2024 | 38.2% |
In 2024, the soy milk-based cheese category is estimated to rule the plant-based cheese market, with a whopping 38.2% share. There are several reasons for this inclination for soy milk source:
Attributes | Details |
---|---|
Top Distribution Channel | B2C |
Market Share in 2024 | 83.8% |
The distribution channel that gained significant traction was business-to-consumer, with an expected 83.8% market share in 2024. The following is a description of this supremacy:
This section examines the markets for plant-based cheese in several countries, such as the United States, China, India, Germany, and the United Kingdom. The section explores the aspects influencing the demand, acceptance, and sales of plant-based cheese in particular countries.
Country | CAGR |
---|---|
United States | 8.2% |
Germany | 10.2% |
United Kingdom | 8.7% |
India | 8.4% |
China | 3.3% |
In the United States, the demand for plant-based cheese is anticipated to expand at a compound annual growth rate of 8.2% through 2034. This quick growth is fueled by the following factors:
Germany is experiencing a surge in plant-based cheese demand, with a predicted CAGR of 10.2% through 2034. Some of the primary drivers include:
China is seeing an increase in demand for plant-based cheese, with a predicted CAGR of 3.3% through 2034. Among the main trends are:
The market for plant-based cheese is expanding in the United Kingdom with an estimated CAGR of 8.7% through 2034. Here are a few of the key trends:
Through 2034, the market for plant-based cheese in India is anticipated to increase at a CAGR of 8.4%. Several of the key trends are as follows:
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The highly competitive and rapidly expanding plant-based cheese business is crowded with companies striving for market domination and a solid basis. Several factors, including price strategies, marketing campaigns, research and development, and the development of new products, largely drive the rivalry. The vegan cheese sector is notably fragmented, with competitors vying for market dominance. Therefore, strategic decision-making and competitive pressures are given greater weight. To keep ahead of the competition, players in the industry invest a lot of money in research and development to create innovative, highly effective, cruelty-free dairy products.
In today's intensely competitive environment, businesses always seek ways to increase their market share and operational effectiveness. Market players actively look for strategic alliances, collaborations, and partnerships to do this. Companies collaborating to achieve common goals can benefit from each other's resources and expertise.
Plant-based dairy product manufacturers employ many marketing tactics, including partnerships and new product launches, to expand their presence. Thanks to these measures, they can get a competitive edge in the market and raise product awareness. Through constant innovation and the development of fresh approaches to engage their target market, companies may remain ahead of the curve and retain their leading positions in the sector.
Recent Developments in the Plant-based Cheese Industry:
The plant-based cheese market is estimated to reach US$ 3,068 million in 2024.
The trend of artisanal cheese dishes emerges in the plant-based cheese industry.
The cheeses obtained from soy milk, coconut milk, peanut milk, almond milk, and oat milk are plant-based cheeses.
The plant-based cheese market is anticipated to surpass US$ 9,658 million by 2034.
The industry is anticipated to grow at a rate of 12.2% from 2024 to 2034.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Source
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Source, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Source, 2024 to 2034
5.3.1. Oat Milk
5.3.2. Rice Milk
5.3.3. Corn Milk
5.3.4. Soy-Milk
5.3.5. Pea Milk
5.3.6. Almond Milk
5.3.7. Coconut Milk
5.3.8. Cashew Milk
5.3.9. Flax Milk
5.3.10. Hemp Milk
5.3.11. Other Milk Sources
5.4. Y-o-Y Growth Trend Analysis By Source, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Source, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Distribution Channel, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Distribution Channel, 2024 to 2034
6.3.1. B2B
6.3.1.1. Hotels
6.3.1.2. Restaurants
6.3.1.3. Cafes
6.3.2. B2C
6.3.2.1. Hypermarkets/Supermarkets
6.3.2.2. Convenience Stores
6.3.2.3. Specialty Stores
6.3.2.4. Mom and Pop Stores
6.3.2.5. Discount Stores
6.3.2.6. Food & Drink Specialty Stores
6.3.2.7. Independent Small Groceries
6.3.2.8. Online Retail
6.3.2.9. Others Retail Formats
6.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Distribution Channel, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2019 to 2023
7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2024 to 2034
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Source
8.2.3. By Distribution Channel
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Source
8.3.3. By Distribution Channel
8.4. Key Takeaways
9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Source
9.2.3. By Distribution Channel
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Source
9.3.3. By Distribution Channel
9.4. Key Takeaways
10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Source
10.2.3. By Distribution Channel
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Source
10.3.3. By Distribution Channel
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Source
11.2.3. By Distribution Channel
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Source
11.3.3. By Distribution Channel
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Source
12.2.3. By Distribution Channel
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Source
12.3.3. By Distribution Channel
12.4. Key Takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Source
13.2.3. By Distribution Channel
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Source
13.3.3. By Distribution Channel
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Source
14.2.3. By Distribution Channel
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Source
14.3.3. By Distribution Channel
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2023
15.1.2.1. By Source
15.1.2.2. By Distribution Channel
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2023
15.2.2.1. By Source
15.2.2.2. By Distribution Channel
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2023
15.3.2.1. By Source
15.3.2.2. By Distribution Channel
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2023
15.4.2.1. By Source
15.4.2.2. By Distribution Channel
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2023
15.5.2.1. By Source
15.5.2.2. By Distribution Channel
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2023
15.6.2.1. By Source
15.6.2.2. By Distribution Channel
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2023
15.7.2.1. By Source
15.7.2.2. By Distribution Channel
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2023
15.8.2.1. By Source
15.8.2.2. By Distribution Channel
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2023
15.9.2.1. By Source
15.9.2.2. By Distribution Channel
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2023
15.10.2.1. By Source
15.10.2.2. By Distribution Channel
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2023
15.11.2.1. By Source
15.11.2.2. By Distribution Channel
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2023
15.12.2.1. By Source
15.12.2.2. By Distribution Channel
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2023
15.13.2.1. By Source
15.13.2.2. By Distribution Channel
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2023
15.14.2.1. By Source
15.14.2.2. By Distribution Channel
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2023
15.15.2.1. By Source
15.15.2.2. By Distribution Channel
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2023
15.16.2.1. By Source
15.16.2.2. By Distribution Channel
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2023
15.17.2.1. By Source
15.17.2.2. By Distribution Channel
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2023
15.18.2.1. By Source
15.18.2.2. By Distribution Channel
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2023
15.19.2.1. By Source
15.19.2.2. By Distribution Channel
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2023
15.20.2.1. By Source
15.20.2.2. By Distribution Channel
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2023
15.21.2.1. By Source
15.21.2.2. By Distribution Channel
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2023
15.22.2.1. By Source
15.22.2.2. By Distribution Channel
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2023
15.23.2.1. By Source
15.23.2.2. By Distribution Channel
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Source
16.3.3. By Distribution Channel
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Simply V
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Danone S.A.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Kite Hill
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. WayFare Foods
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Miyoko’s Creamery
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Daiya Foods Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Field Roast
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Upfield
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Bute Island Foods Ltd.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Puris Foods
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
Explore Food and Beverage Insights
View Reports