News Feature: Don’t just say cheese! Say Vegan Cheese!
The demand for vegan cheese is predicted to reach $7 Billion by the end of 2030 according to Transparency Market Research. According to the study, by the end of this year alone, the estimated worth of vegan cheese is $2.5 billion. The report cites how climate change has become one of the major factors as to why people have been moving to more cruelty-free products. These main drivers of the exponential change topped with reports of linking coronavirus spread from consumption of meat and meat-based products have driven the demands for cruelty-free products such as vegan cheese, among other products like 'Alt meat'.
The key companies moving forward with the vegan cheese market include Violife Foods, Daiya Foods, Miyoko's Kitchen, among others. Cruelty-free vegan cheese products available in the market are mozzarella, cheddar, pepper jack, parmesan and gouda. They are also available in organic and conventional flavors like herbs, spices, and blends. And with the companies mentioned above pushing forward with the vegan cheese market, these products are now widely available in supermarkets, convenience stores, independent grocery stores, specialty stores, and even online retail stores according to the Global Industry Analysis of Trends and Forecast for 2020-2030.
This is good news as consumer trends continue to dictate the course of the food industry. As an effect, other consumers are embracing this new trend of cruelty-free food products. The main concern of consumers according to PlantBasedNews is that "consumers are warier of the nutritional content of the vegan cheese". Therefore, research and development are in full swing for these vegan companies.
The trend is expected to grow an impressive CAGR of 10% during the forecast period. The vegan cheese market is catching up with other plant-based products like milk and alternative meat. Although the competition within the vegan cheese market continues to grow, companies heavily invest in research and development to mimic the different flavor profiles of the conventional cheese.
Overall, there is an increasing demand for healthy food. Consumers are more inclined to maintain a healthy lifestyle which has led to increased demand for all types of vegan products. And with these current trends, more vegan products (not just vegan cheese), will continue to rise.