According to Future Market Insights (FMI), the global Cheese Alternatives market (Markt für Käsealternativen) is expected to be valued at USD 2,479.3 million in 2024 and it is expected to grow with CAGR of 11.8% over the forecast period to reach market valuation of USD 7,600.4 million by 2034.
The growth in the cheese alternatives market is highly attributed to a rise in environmental sustainability and personal health knowledge. During the past few years, consumers have become more aware of how their diets impact on both their health and the planet. A better appreciation of environmental consequences associated with conventional dairy farming including high emissions of GHGs, immense water use and land degradation has led to this rising consciousness. As they gain more information about such concerns, most customers are looking for substitutes that match their convictions about maintainability and wellness.
Several governments and organizations have taken steps to support this dietary change, as they understand the significance of choosing plants over animal products. A case in point is the Canadian government’s launch of Plant-Based Investment Campaign (PIC), which is meant to boost plant-based business sector. The Canadian government has invested into plant-based businesses through this initiative thereby revealing the importance of state aid in promoting growth in this industry. Such programs do not only offer financial assistance but also act as avenues for sensitizing a population about plant based products like cheese alternatives.
Personal health is another factor that’s been driving the shift to vegetable-based cheese substitutes. There are many health problems connected with traditional dairy foods such as heart disease and obesity due to their high content of saturated fats and cholesterol. Conversely, a majority of plant-based cheese alternatives are more favorable regarding fat and calorie content in addition to having no cholesterol. Furthermore, these cheeses are suitable for individuals suffering from lactose intolelrance or milk allergy, thus broadening their market base.
Key Takeaways from the Report:
- The Global Cheese Alternatives Market is expected to be valued at USD 2,479.3 million in 2024 and it is expected to reach market valuation of USD 7,600.4 million by 2034
- The Global Cheese Alternatives market is expected to grow with CAGR of 11.8% and generate an Absolute $ Opportunity of USD 5,121.1 million over the forecast period
- Among the product type market, Analogue Cheese is expected to dominate the market holding 6% share in 2024 and it is expected to grow with CAGR of 9.3% over the forecast period
- By Form, Slice segment is expected to dominate the market holding 7% market share valued at USD 884.7 million in 2024 and it is expected to grow with CAGR of 12.7% over the forecast period
- Among Distribution Channel, B2C segment is expected to dominate the cheese alternatives market holding 8% market share in 2024 and it is expected to reach market valuation of USD 6,371.9 million by 2034
- Among the B2B sales channel, Cafes segment is expected to dominate the market holding market share of 9% in 2024 and it is expected to grow with CAGR of 14.1% over the forecast period
Who is Winning:
Danone, Bute Island Foods, Nush Foods, Green vie foods, Bel Group ( Le Groupe Bel), Ilchester Vegan, Tofutti Brands Inc, Treeline Treenut Cheese, Good Foods and Kite Hill Foods are the manufacturers listed in the report.
These companies are concentrating on key strategies such as Strategic Partnerships and Collaborations, Product Innovation, R&D and Innovation, Sustainable Sourcing and Production, Portfolio Diversification, Supply Chain Optimization, Customer-Centric Approach.
- In 2022, Katharos strengthens its plant-based cheese portfolio; launches the world’s first watermelon seed-based Cheddar & Mozzarella. Bringing a new range of vegan cheese for cheese lovers, Katharos, India’s homegrown vegan and plant-based artisanal food company, introduces the world’s first watermelon seed-based cheddar & mozzarella that grates and melts beautifully.
- In 2022, vegan cheese pioneer Daiya Foods is expanding its product portfolio in 2022 to showcase how far its dairy-free cheeses have come. Founded in 2008, Daiya was the first brand to present the world with a dairy-free cheese that melted just like its animal counterpart. Now, Daiya offers a wide variety of dairy- and gluten-free cheeses in shreds, slices, and blocks in flavors such as cheddar, provolone, and smoked gouda.
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The study incorporates compelling insights on the market based on By Product Type (Analogue Cheese, Filled Cheese, Tofu-based Cheese), By Form (Blocks, Cubes, Slice, Spread, Shreds, Spray, Powder), By Distribution Channel (B2B/Foodservice (Hotels, Restaurants, Cafes), B2C (Hypermarkets/Supermarkets, Convenience Stores, Mom and Pop Stores, Discount Stores, Food & Drink Specialty Stores, Independent Small Groceries, Online Retail, Other Retail Formats), By Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa).
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Leading Cheese Alternatives Brands
- Danone
- Bute Island Foods
- Nush Foods
- Green vie foods
- Bel Group (Le Groupe Bel)
- Ilchester Vegan
- Tofutti Brands Inc
- Treeline Treenut Cheese
- Good Foods
- Kite Hill Foods
Key Segments of Market Report
By Product Type:
As per product type, the cheese alternatives Industry has been categorized into Analogue Cheese, Filled Cheese, and Tofu-based Cheese.
By Form:
By Form the cheese alternative Industry is segmented into Blocks, Cubes, Slice, Spread, Shreds, Spray, and Powder.
By Distribution Channel:
As per the Distribution Channel, the cheese alternatives Industry is segmented into B2B/Foodservice and B2C. B2B/food service is again segmented into Hotels, Restaurants, and Cafes and B2C is segmented into Hypermarkets/Supermarkets, Convenience Stores, Mom and Pop Stores, Discount Stores, Food & Drink Specialty Stores, Independent Small Groceries, Online Retail, and Other Retail Formats.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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