Plant-based Cheese Market
Plant-based Cheese Market Analysis By Source (Soy, Coconuts, Cashews, Almonds), By Form (Blocks & Wedges, Slices, Spreads, Shreds), By Buyer Type (Households, HoReCa, Food Processors), By Sales Channel (Retail Sales, Direct Sales) - Global Market Insights 2023 to 2033
Analysis of Plant-based Cheese Market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Plant-based Cheese Market Outlook (2023-2033)
Presently, worldwide demand for plant-based cheese is valued at US$ 1.3 billion and is estimated to surge at 15.1% CAGR over the next ten years. By the end of 2033, the global plant-based cheese market is predicted to attain a value of US$ 5.3 billion.
Rising awareness regarding animal cruelty and increasing acceptance of veganism across the world are prominent determinants that are anticipated to bolster plant-based cheese demand in the future. Moreover, rising awareness regarding the benefits associated with plant-based food consumption is another factor that has resulted in high demand for vegan cheese or plant-based cheese alternatives.
Changing dietary preferences, high prevalence of lactose intolerance, rising concerns regarding the environmental effects of animal-based diets, growing vegan population, and increasing availability of plant-based products are other prospects that are anticipated to alter market growth trajectory over the coming years.
High incidences of obesity, cardiovascular disorders, and diabetes are also expected to fuel plant-based cheese shipments across the world as people realize the benefits of a plant-based diet and opt for new plant-based foods. This factor is expected to create highly lucrative opportunities for incoming plant-based cheese companies as well as established market players going forward.
On the flip side, the absence of nutrition, genuineness, flavor, and texture in plant-based cheese is expected to be a major restraint for market expansion over the coming years. Furthermore, high costs of manufacturing and lack of availability of fresh ingredients are also expected to pose a challenge for plant-based cheese vendors over the next ten years.
Europe is anticipated to be a highly remunerative market in the future for plant-based cheese suppliers owing to a paradigm shift in dietary choices, the rising popularity of veganism, and the frequent launch of new plant-based cheese products. Plant-based parmesan cheese, plant-based feta cheese, plant-based mozzarella, and plant-based ricotta are some of the most popular products in the European marketplace at present.
Moreover, increasing investments in the research and development of new products by food manufacturers and governments in this region are also expected to open up new growth avenues for plant-based cheese brands. Germany, France, and the United Kingdom are the most attractive markets in the European region through 2033.
More detailed regional and segmental insights have been provided in this revised plant-based cheese industry research by Fact.MR, a market research and competitive intelligence provider.
Market Size in 2023
US$ 1.3 Billion
Projected Market Value (2033F)
US$ 5.3 Billion
Global Market Growth Rate (2023-2033)
United Kingdom Market Growth Rate (2023-2033)
Soy Segment Market Share (2033F)
China Market Growth Rate (2023-2033)
Key Companies Profiled
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How are Start-ups Adding to Vegan Cheese Demand Growth?
“New Plant-based Cheese Brands Expected to Invest & Focus Solely on Innovation to Create Unique Products”
New plant-based cheese companies across the world are using extremely innovative techniques and technologies to develop novel plant-based foods. Aspiring plant-based cheese manufacturers are testing new ingredients, creating new manufacturing processes, and increasing investment in research and development to create a mark in the global industry landscape over the coming years.
- Grounded Foods Co., a Los Angeles-based start-up founded in 2019 is making plant-based nut-free cheese from hemp seeds and cauliflower. The company offers vegan and keto-friendly products such as Cheese-Free Cheese Sauce and Marinated Hemp Seed Goat Cheese.
- Stockeld Dreamery, a Swedish start-up is offering plant-based cheese made from pea protein and fava beans. The company offers plant-based feta cheese that is made through a fermentation process and is very similar to the actual feta cheese.
- Change Foods, a start-up revolutionizing the cheese-making industry through its state-of-the-art microbial precision fermentation or recombinant technology to produce animal-free and dairy-free cheese. The company is working on creating novel non-dairy alternatives that are identical to their dairy counterparts.
- Spero Foods, a plant-based dairy technology start-up founded in 2016 is focusing on creating affordable plant-based alternatives for all. The company is making plant-based cheese by using agave, coconut oil, and sunflower seeds instead of costly nuts such as almonds and cashews which increase the cost of the end product.
- Climax Foods, a revolutionary company is taking dairy-free cheese to a next level by using machine learning to create the most delicious plant-based cheese alternative out there. The company is expected to use the data from machine learning frameworks to determine the ingredients for cheese-making and create the most perfect non-dairy alternative to traditional aged cheese.
Why Do Plant-based Cheese Suppliers Line Up in the United States?
“Rapidly Growing Demand for Plant-based & Organic Food Products”
Consumer preferences in the U.S. have changed drastically in recent years and this trend is expected to be a significant factor influencing demand for plant-based cheese over the coming years.
The high prevalence of obesity, rising demand for organic products, growing vegan population, and increasing availability of plant-based food products are other aspects that influence plant-based cheese consumption in the United States.
Increasing incidence of lactose intolerance and rising acceptance of lactose-free and dairy-free products are other factors that could create new opportunities for plant-based cheese suppliers in the U.S. through 2033. Plant-based cream cheese, plant-based cheddar cheese, and plant-based shredded cheese are some popular products that are anticipated to witness high demand in the country going forward. Shipments of plant-based cheese are anticipated to increase at a CAGR of over 10% over the next ten years.
What Makes Japan & Korea Opportune Markets for Plant-based Cheese Manufacturers?
“Changing Consumer Preferences and Growing Availability of Vegan Cheese”
Japan and Korea are anticipated to emerge as lucrative markets in the Asia Pacific region owing to increasing globalization, changing consumer preferences for different foods, and increasing availability of plant-based food products.
- In 2021, a Tokyo-based leading soy product manufacturer, Marusan AI announced the launch of a sliced version of its plant-based cheese. The product is made from rich soymilk. The company also launched soy-based shredded cheese in 2020.
An increasing number of new product launches coupled with rising disposable income and changing dietary habits are expected to create a highly opportunistic market scenario in Japan as well as Korea.
Which European Country Offers Highly Remunerative Growth Scope?
“United Kingdom to Account for Second-largest Market Share in Europe”
Veganism and the preference for plant-based foods have increased exponentially in the U.K. in recent years and this trend is expected to only get stronger over the coming years. The aforementioned prospect is predicted to be the main driver for plant-based cheese sales in the United Kingdom throughout the forecast period. Sales of plant-based cheese in the U.K. are slated to rise at a phenomenal CAGR of around 12% over the next ten years.
Changing dietary preferences and rising inclination toward non-dairy cheese alternatives are other factors that could alter the market growth trajectory in the country across the forecast period. A growing number of food manufacturers incorporating plant-based ingredients in their products is also anticipated to favor market expansion in the country throughout the forecast period.
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Where is Most Plant-based Cheese Sourced From?
“Soy Cheese to Account for Dominant Market Share”
Based on source, the plant-based cheese market is segmented into soy, coconuts, almonds, cashews, and others.
Soy-based cheese comes in various varieties and textures and has a very similar taste to the original milk-based cheese. Soy cheese is also known to have a rich concentration of vital fatty acids, fiber, protein, iron, potassium, and other essential bioactive components.
- As per the United States FDA (Food and Drug Administration), the consumption of soy protein in one’s daily diet helps in lowering the density of lipoprotein cholesterol and resultantly helps in mitigating the risk of heart disease.
Hence, the increasing incidence of cardiovascular disorders across the world is also expected to promote the consumption of soy cheese. Sales of soy cheese are anticipated to account for a significant market share of around 40% by the end of the forecast period.
Leading plant-based cheese manufacturers are launching new products and expanding their product portfolio to gain a competitive advantage over other market players and capitalize on the growing demand for plant-based cheese across the world.
- In November 2022, Kraft Heinz, a leading American food company announced the launch of its new plant-based cheese slices. The products are a first from Kraft’s joint venture with NotCo, a Chilean unicorn food company. The new line of products is branded as NotCheese and will be available in the U.S. in 2023.
- In October 2022, Armored Fresh, a South Korean food tech organization announced the launch of their plant-based cheese products in the United States in more than 100 supermarkets in New York City. The company debuted with three types of cubed cheese and they were expected to be available on the company’s website in November 2022.
Key Segments of Plant-based Cheese Industry Research
By Form :
- Blocks & Wedges
By Source :
- Other Sources
By Buyer Type :
- Food Processors
By Sales Channel :
- Retail Sales
- Departmental Stores
- Specialty Stores
- Online Retailers
- Direct Sales
- Retail Sales
- North America
- Latin America
- FAQs -
Currently, worldwide demand for plant-based cheese accounts for US$ 1.3 billion.
By 2033-end, the global plant-based cheese market is predicted to hold a value of US$ 5.3 billion
From 2023 to 2033, sales of plant-based cheese are estimated to rise at a stellar 15.1% CAGR.
Changing consumer preferences and rising popularity of plant-based diets are prominent market trends.
Danone S.A., Miyokos Creamery, Bute Island Foods Ltd., and Gardener Cheese Company are key plant-based cheese providers.