The USA vegan cheese market was evaluated at US$ 269.730 million in 2020, growing at a CAGR of 9.43% reaching the market size of US$ 506.713 million by the year 2027.
Fathoming the trajectory which has led to the estimation that the vegan cheese market in the USA is poised to witness a meteoric rise during the forecast period is deemed important above all. Given the above, it is crucial to note that over the previous century, there has been a substantial reduction in essential nutrient deficiencies leading to the prevention of many infectious diseases and facilitating a healthier and longer life span for the US population. However, despite the aforesaid, the rates of non-communicable diseases, especially chronic diet-related diseases, have increased due to a marked shift in lifestyle behaviours. A combination of poor dietary choices and a dearth of physical activities have led to significant nutrition- and physical activity-related health challenges for the US population. Moreover, approx. half of the American adults (117 million) suffer from one or more preventable chronic diseases that stem from those mentioned above. These diseases are inclusive of but not limited to type 2 diabetes, cancers, poor bone health, high blood pressure, and cardiovascular diseases, among others. Also, more than 2/3rd of adults and about 1/3rd of children are reportedly obese. Therefore, the aforesaid has not only effectuated increased health risk but has also come at a high medical cost. [Source: U.S. Department of Health and Human Services]. To this end, it is important to note that U.S. health care spending grew 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person [ Source: U.S. Centres for Medicare & Medicaid Services], among which 90% is for individuals with chronic conditions, among others [ Source: National Center for Chronic Disease Prevention and Health Promotion].
These negative externalities of poor dietary choices and the resulting macroeconomic burden have paved the way for an upswing in plant-based, vegetarian, and vegan food consumption habits, among others. Cheese, being an integral component of the American diet, has undergone several evolutions leading to a positive impact on the USA vegan cheese market. Certain recent market developments, despite the economic hardship brought about by the pandemic, clearly suggest that the vegan cheese market in the nation is poised to reach a stratospheric height during the forecast period.
By source, one of the most often-used sources in the creation of vegan cheese is almond milk cheese. Almond milk's naturally increased fat content provides the cheese with a smoother texture without an astringent flavor. The strong nutritional profile of almond milk has increased demand for it in the production of vegan cheese. Due to its low-calorie content, almond milk has drawn interest from people who are concerned about their health all around the world. Almond milk is widely endorsed by orthopaedics around the world for its calcium content, which has been shown to strengthen bones.
The parmesan section is predicted to hold a sizable share in terms of products during the projection period. Italian dishes including pasta, spaghetti, & macaroni frequently use vegan parmesan cheese. As a result, there is a growing demand for European cuisines and vegan parmesan cheese. Parmesan's demand is further increased by its strong flavour and gluten- and lactose-free composition when compared to dairy cheese. Additionally, it is anticipated that shortly, technological advancements and novel cheese-making methods that help produce high-quality cheese at a lower cost would present the profitable potential for market expansion.
Fathoming the trajectory which has led to the estimation that the vegan cheese market in the USA is poised to witness a meteoric rise during the forecast period is deemed important above all. Given the above, it is crucial to note that over the previous century, there has been a substantial reduction in essential nutrient deficiencies leading to the prevention of many infectious diseases and facilitating a healthier and longer life span for the US population. However, despite the aforesaid, the rates of non-communicable diseases, especially chronic diet-related diseases, have increased due to a marked shift in lifestyle behaviours. A combination of poor dietary choices and a dearth of physical activities have led to significant nutrition- and physical activity-related health challenges for the US population. Moreover, approx. half of the American adults (117 million) suffer from one or more preventable chronic diseases that stem from those mentioned above. These diseases are inclusive of but not limited to type 2 diabetes, cancers, poor bone health, high blood pressure, and cardiovascular diseases, among others. Also, more than 2/3rd of adults and about 1/3rd of children are reportedly obese. Therefore, the aforesaid has not only effectuated increased health risk but has also come at a high medical cost. [Source: U.S. Department of Health and Human Services]. To this end, it is important to note that U.S. health care spending grew 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person [ Source: U.S. Centres for Medicare & Medicaid Services], among which 90% is for individuals with chronic conditions, among others [ Source: National Center for Chronic Disease Prevention and Health Promotion].
These negative externalities of poor dietary choices and the resulting macroeconomic burden have paved the way for an upswing in plant-based, vegetarian, and vegan food consumption habits, among others. Cheese, being an integral component of the American diet, has undergone several evolutions leading to a positive impact on the USA vegan cheese market. Certain recent market developments, despite the economic hardship brought about by the pandemic, clearly suggest that the vegan cheese market in the nation is poised to reach a stratospheric height during the forecast period.
By source, one of the most often-used sources in the creation of vegan cheese is almond milk cheese. Almond milk's naturally increased fat content provides the cheese with a smoother texture without an astringent flavor. The strong nutritional profile of almond milk has increased demand for it in the production of vegan cheese. Due to its low-calorie content, almond milk has drawn interest from people who are concerned about their health all around the world. Almond milk is widely endorsed by orthopaedics around the world for its calcium content, which has been shown to strengthen bones.
The parmesan section is predicted to hold a sizable share in terms of products during the projection period. Italian dishes including pasta, spaghetti, & macaroni frequently use vegan parmesan cheese. As a result, there is a growing demand for European cuisines and vegan parmesan cheese. Parmesan's demand is further increased by its strong flavour and gluten- and lactose-free composition when compared to dairy cheese. Additionally, it is anticipated that shortly, technological advancements and novel cheese-making methods that help produce high-quality cheese at a lower cost would present the profitable potential for market expansion.
Recent Developments and expansions
- A California-based vegan brand, Follow Your Heart (FYH), was reported to launch Dairy-Free Feta Crumbles Cheese Alternative in June 2020, a first-of-its-kind crumbled vegan cheese made with coconut oil.
- In May 2020, a Washington-based vegan company GOOD PLANeT Foods which currently offers a variety of coconut oil-based vegan cheeses in shreds and slices reportedly announced raising $12 million in Series A funding led by venture capital firm Cleveland Avenue, among others.
- A line of vegan cream cheese made with cultured cashew nuts and other plant-based ingredients was introduced by Treeline Cheese in March 2020. Three tastes are offered: basic, chive and onion, and strawberry.
COVID-19 Impact
Due to the enormous global interest in cooking at home, the COVID-19 epidemic has provided some relief to the market. In addition, since the pandemic, individuals have grown more health concerned. As a result, the demand for vegan food items has dramatically expanded.Segmentation
By Source
- Soy Milk
- Almond Milk
- Coconut Milk
By Product Type
- Mozzarella
- Parmesan
- Cheddar
By Distribution Channel
- Online
- Offline
- Hypermarkets
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. USA Vegan Cheese Market Analysis, By Source
6. USA Vegan Cheese Market Analysis, By Product Type
7. USA Vegan Cheese Market Analysis, By Distribution Channel
8. Competitive Environment and Analysis
9. Company Profiles*
Companies Mentioned
- DAIYA FOODS INC.
- Follow Your Heart
- Kite Hill
- Sister River Foods
- Miyoko’s Creamery
- Field Roast
- Danone
- Parmela Creamery™
- Mooliss Cheese Inc
- Grounded Foods Co
- Forager Project
- Motif FoodWorks, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 82 |
| Published | September 2022 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 269.73 million |
| Forecasted Market Value ( USD | $ 506.71 million |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | United States |
| No. of Companies Mentioned | 12 |
