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Redding, California - October 10, 2024

Plant-based Cheese Market to Reach $8.62 Billion by 2032

Plant-based Cheese Market Size, Share, Forecast, & Trends Analysis by Type (Mozzarella, Cheddar, Ricotta), Source (Almond, Coconut), Formulation, Form, Distribution Channel (B2C [Hypermarkets/Supermarkets, Online Retail], B2B) - Global Forecast to 2032

Meticulous Research^®—a leading global market research company, published a research report titled ‘Plant-based Cheese Market—Global Opportunity Analysis and Industry Forecast (2025-2032)’. According to this latest publication, the plant-based cheese market is expected to reach $8.62 billion by 2032, at a CAGR of 9.8% from 2025 to 2032.

Key factors driving the growth of the plant-based cheese market include the increasing vegan and vegetarian population, expanded investments in the dairy alternatives sector, a rise in lactose intolerance cases, and a focus on animal welfare and sustainability. However, market growth is restrained by factors such as preference for animal-based products and fluctuating raw material prices.

In addition, emerging economies, increasing innovation, and new product launches provide significant growth opportunities for market players. However, the increasing preference for soy and gluten-free products presents a challenge to the market's growth.

Furthermore, the adoption of vegan culinary innovations in the hospitality and restaurant sectors, along with a growing awareness of health & wellness, are prominent trends in the plant-based cheese market.

Key Players:

The plant-based cheese market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the plant-based cheese market are Daiya Foods Inc. (Canada), Danone S.A. (France), The Gardener Cheese Company Inc. (U.S.), Kite Hill (U.S.), Bute Island Foods Ltd. (U.K.), Puris Foods (U.S.), Miyoko's Creamery (U.S.), Field Roast (U.S.), GreenSpace Brands (Canada), WayFare Foods (U.S.), Kraft Heinz Company (U.S.), and Parmela Creamery (U.S.).

The global plant-based cheese market is segmented based on type, source, formulation, form, and distribution channel. The report also evaluates industry competitors and analyzes the plant-based cheese market at the regional and country levels.

Among the types studied in this report, the mozzarella segment is anticipated to hold the dominant position, with a share of 31.4% of the market in 2025. This segment's substantial market share is primarily driven by its extensive use in popular dishes such as pizza and pasta, its versatility in cooking, mild flavor, and excellent melting properties.

Among the sources studied in this report, the almond segment is anticipated to hold the dominant position, with a large share of the plant-based cheese market in 2025. This segment’s substantial market share is primarily driven by the production of almond milk. Cheese derived from almond milk typically has a lower environmental impact than dairy products, as it requires less water and generates fewer greenhouse gas emissions.

Among the formulations studied in this report, the flavored segment is anticipated to hold the dominant position, with a large share of the plant-based cheese market in 2025. This segment’s substantial market share is attributed to ongoing innovation and new product development within the flavored plant-based cheese category, as well as increasing consumer acceptance of these products.

Among the forms studied in this report, the block segment is anticipated to hold the dominant position, with a large share of the plant-based cheese market in 2025. This segment's significant market share is primarily fueled by consumers' familiarity with block cheese. Its convenience for storage and use, extensive availability in grocery stores, and versatility—permitting it to be sliced, melted, grated, or shredded as required—enhance its appeal.

Among the distribution channels studied in the report, the business-to-consumer segment is anticipated to hold the dominant position, with a large share of the plant-based cheese market in 2025. This segment's substantial market share is driven by several factors, including the increase in retail sales of plant-based cheese in supermarkets and hypermarkets, the expansion of shelf space for plant-based products in contemporary grocery stores, and the growing consumer acceptance of vegan and vegetarian dairy alternatives.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, U.K., Spain, Italy, France, Netherlands, Belgium, Austria, Poland, Portugal, Denmark, Romania, Sweden, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Thailand, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (United Arab Emirates, South Africa, Saudi Arabia, and Rest of Middle East & Africa)

Among the geographies studied in this report, Asia-Pacific is anticipated to hold the dominant position, with a share of 45.1% of the market in 2025, followed by North America and Europe. The Asia-Pacific plant-based cheese market is estimated to be worth USD 2.02 billion in 2025. The substantial market share of this regional market is attributed to several critical factors, including a rising awareness of health & wellness, a robust food & beverage industry, population growth, rapid urbanization, and a significant base of vegan and vegetarian consumers.

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Key Questions Answered in the Report-

What is the value of revenue generated by the sale of plant-based cheese market?
At what rate is the global demand for plant-based cheese projected to grow for the next five to seven years?
What is the historical market size and growth rate for the plant-based cheese market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which type, source, formulation, form, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the plant-based cheese market?
Who are the major players in the plant-based cheese market? What are their specific product offerings in this market?
What recent developments have taken place in the plant-based cheese market? What impact have these strategic developments created on the market?

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Redding, California - October 10, 2024

Plant-based Cheese Market to Reach $8.62 Billion by 2032

Plant-based Cheese Market Size, Share, Forecast, & Trends Analysis by Type (Mozzarella, Cheddar, Ricotta), Source (Almond, Coconut), Formulation, Form, Distribution Channel (B2C [Hypermarkets/Supermarkets, Online Retail], B2B) - Global Forecast to 2032

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