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Plant Based Cheese Market Raw Material (Soy Milk, Almond Milk, Coconut Milk, Rice Milk, Nuts & Seeds, Others) Product Type (Mozzarella, Parmesan, Cheddar, Others) Application (Residential, Commercial) Distribution Channel (Offline Stores, Online Stores) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A06679
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Oct 2020 | 469 Views
 
Author(s) : NA
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COVID-19

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Plant-based cheese also known as vegan cheese or cheese alternative is a non-dairy product, made up of the plant-based ingredients and do not include products derived from animals such as milk. Tofu, a fermented non-dairy cheese product was introduced in the sixteenth century from China. Tofu, made from soy milk and other non-dairy cheese became commercially available in the 1980s. The advancement in technology and R&D led to large scale production of plant-based cheese from sources such as legumes, vegetables, soy milk, almond milk, rice milk, nuts, flour, seeds, and others. Plant-based cheese has created a new trend in the market as it is free from animal origin and the processing of cheese is done to enhance the nutritional quality as well. 

Market scope and structure analysis:

                      Report Metric

                                             Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

Raw Material, Product Type, Application, Distribution Channel, and Region

  Regions covered

North America (U.S., and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

The Plant-Based Cheeses Co., Glanbia Plc, Paleo Baking Company, Botany International Foods, Daiya Foods, Willicroft, Kite Hill, Treeline Cheese, Bute Island Foods Ltd., Violife, Epic Provisions, Miyoko’sCremary.

 

COVID-19 Scenario Analysis: 

  • The COVID-19 pandemic has impacted the plant-based cheese market as the production has hampered due to a shortage of manpower in the manufacturing units. 
  • The Post COVID-19 situation is anticipated profitable for the plant-based cheese market as it is the vegan source of cheese and change in consumer buying behavior due to the spread of foodborne disease is likely to create a higher demand for cheese alternative. 
  • The commercial sales of the plant base cheese were declined as the restaurants, supermarkets, and retail stores were shut down due to the lockdown scenario, thereby declining the sales and revenue of the plant-based cheese market.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The demand for cleaner and safer products has grown as the awareness about the alternative products has surged in the market. Europe, North America, South America, the Middle East, and Asia-Pacific leading in the consumption and manufacturing of plant-based cheese markets. The rising animal rights and concerns increased awareness about the environmental impact of natural resources, shortage of natural milk, decrease in productivity of milk, harmful effect on animals, leading foodborne disease, increasing health concerns and awareness about healthy foods, plant-based nutrition, increase in disposable income, investment in R&D, advancement in technology and innovation, improved extraction process and equipment, lactose intolerance, the requirement of clean and natural products and enhanced quality are the key drivers which lead the growth of plant-based cheesemarket. However, the increased competition in the market, high priced products, availability of alternative products, traditional manufacturing practices, hindrance of government regulations, controversial labeling standards, and nonacceptance of products hinder the market growth. 

The global plant-based cheesemarkettrends are as follows:

Sustainability of plant-based cheese

According to FAO, cheese is considered to be the second most consumed dairy product in terms of milk solid, mostly in Europe, North America, and Oceania. The use of cheese has been done commercially in several products and residentially for culinary purposes. Plant-based cheese has presented a new pathway to reduce the stress laid on natural dairy-based cheese for fulfilling the commercial requirement as well as daily requirements.  The dependence on natural dairy resources has impacted the environment in terms of global warming, overexploitation of animals, and foodborne diseases, therefore the key players in the plant-based alternative foods have focused on developing plant-based cheese as a sustainable product. Numerous variants of cheese alternatives are developed to be beneficial for people suffering from lactose intolerance, diabetes, malnutrition, and others. The plant-based cheese is manufactured as a cholesterol-free, good source of protein and micronutrients, low-fat content, high fiber along with the variants in flavor, and improved palatability. 

The key manufactures are inclined toward diversifying the product line by increasing the sources of cheese such as soy milk, macadamia nuts, cashews, almonds, pecans, pine nuts, sunflower seeds, pumpkin seeds, coconut, flour, root vegetables, aquafaba and making them available in different forms such as shredded, cream cheese, block, and sliced, soft cheese, parmesan cheese, cheese dips, and others. The main consideration of leading brands is towards introducing sustainable plant-based cheese products with enhanced quality and palatability. 

Key Segments Covered:

               Segments

                                 Sub-segments

  Raw Material

  • Soy Milk
  • Almond Milk
  • Coconut Milk
  • Rice Milk
  • Nuts & Seeds
  • Others

  Product Type

  • Mozzarella
  • Parmesan
  • Cheddar
  • Others

  Application

  • Residential
  • Commercial

  Distribution Channel

  • Offline Stores
  • Online Stores

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global plant-based cheese industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global plant-based cheese market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global plant-based cheese market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides detailed global plant-based cheese market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Plant-Based Cheese Market Research Report:

  • What are the leading market players active in the plant-based cheese market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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