Market & Trends

Vegan Cheese Market to Surpass $8 Billion by 2032

According to a report by marketresearch.biz, the vegan cheese market will increase in value from $4.2 billion to $8 billion by 2032, growing with a CAGR of 6.2%.

The predicted growth — described as “unprecedented” — is attributed to increasing consumer awareness of animal welfare, health, and sustainability. New technologies — such as the recent development of high-protein cheese alternatives made from fermented legumes in Denmark — will also boost the market by improving taste, texture, and nutritional value. Furthermore, the growing availability of vegan cheeses in supermarkets and restaurants will increase sales and consumer awareness.

Growth for vegan mozzarella

Soy-based vegan cheese is expected to account for two-fifths of the market, with almond-based products also seeing significant growth. In terms of variety, mozzarella and parmesan alternatives will have the largest market share; mozzarella is expected to be especially popular as it is versatile and its flavor is relatively easy to imitate. Retail will be the most significant sales channel, particularly supermarkets and hypermarkets.

Whole pizza in close up with New Culture cheese melt
© New Culture

Block formats are reportedly seeing significant growth due to their versatility; they can be sliced, shredded, or melted, making them suitable for a variety of cuisines. Furthermore, their sensory qualities have significantly improved in recent years.

Regional variations

By region, Europe will dominate the market due to significant R&D investments and the availability of high-quality products. Worldwide, the vegan cheese market in some countries will see an even higher CAGR than the global market; this includes China (14%), the US (over 10%), and the UK (12%).

However, the market will also see some restraining factors; for example, many consumers currently prefer the flavor of dairy cheese. To overcome this, vegan cheese producers will need to continue to innovate, improving the sensory properties of their existing products and developing new ones.

The full report is available here.

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