Drivers for the exponential growth of the vegan cheese market include health concerns surrounding animal products and increased awareness of animal welfare
The value of the global vegan cheese market will exceed a staggering £6 billion in the next five years.
Researchers predict the industry will grow at an impressive CAGR of 9 percent – hitting 7.10 billion USD by 2027.
Market Data Forecast says key drivers for the growth include concerns surrounding animal welfare, as well as awareness of the health impact of consuming animal products.
Vegan cheese market
“So many animals around the world suffer from being used for food, scientific advancement, medicine, and fashion,” the report states.
“[Therefore] animal-friendly products are considered healthier, more hygienic, tastier, safer, environmentally friendly, and traditional by many consumers…
“Mozzarella is the segment that held the largest market share in the vegan cheese market in 2022 and it is anticipated to grow significantly during the forecast period”.
Other vegan cheese products are expected to see growth in sales including Parmesan, Cheddar, and Cream Cheese.
Earlier this month, dairy giant Bel Group revealed its partnership with nutrition startup Superbrewed Food to ‘pioneer the development of dairy and plant-based food innovations’.
The food giant, which owns well-known brands such as Babybel and Laughing Cow, says it wants to accelerate R&D on biomass fermentation.
According to the company, Superbrewed Food’s technology can be implemented for ‘nutritional, environmental, and sensory advantages…for the benefit of people and the planet’.
Lower your carbon footprint
In July 2021, Violife partnered with Quantis to analyse the level of carbon emissions from vegan cheese vs dairy cheese.
Further research uncovered that dairy cheese was one of the leading contributors to greenhouse gases, surpassing the emissions produced from chicken, pork, and eggs.
Looking for vegan cheese inspiration? Check out our favourite vegan cheese recipes
Feature image credit: Maryna Terletska/Getty Images