Vegan Cheese Market Size, Share & Trends Analysis Report By Product (Mozzarella, Ricotta, Cheddar, Parmesan, Cream Cheese), By Source (Cashew, Soy), By End Use (B2C, B2B), By Region, And Segment Forecasts, 2022 - 2030

Research Methodology

A three-pronged approach was followed for deducing the vegan cheese market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for vegan cheese market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of vegan cheese market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Vegan Cheese Market Categorization:

The vegan cheese market was categorized into four segments, namely product (Mozzarella, Cheddar, Parmesan, Ricotta, Cream Cheese), source (Soy, Almond, Cashew, Coconut), end use (B2C, B2B), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The vegan cheese market was segmented into product, source, end use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The vegan cheese market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seven countries, namely, the U.S.; Germany; the UK.; France; China; Japan; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Vegan cheese market companies & financials:

The vegan cheese market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Daiya Foods Inc. , Daiya Foods Inc. was founded in 2008 and is headquartered in Vancouver, Canada. The company offers a wide range of plant-based dairy alternatives, which includes cheese, vegetable crust pizza, gluten-free pizza, cheesecake, cheesy mac, coconut yogurt alternatives, dairy-free dressings, sauce, dessert bars, deluxe cheese sticks, burritos, and duets. Daiya’s products are available in Canada, the UK., Mexico, Hong Kong, Australia, and other countries. Its products are featured in packaging produced by Turtle Island Foods and Amy's Kitchen, as well as on restaurant menus. The company has won several awards such as the 2009 Veggie Award. As of December 2019, it had an employee strength of more than 160 working across North America.

• Kite Hill , Kite Hill is specialized in the manufacturing, marketing, and distribution of vegan products across the globe. The company was founded in 2010 and is headquartered in California, U.S. It produces plantbased foods and offers almond milk yogurt, cream cheese alternatives, dips, Greek yogurt, kids tubes, filled pastas, and ricotta alternatives. Kite Hill sources its non-GMO almonds from San Joaquin Valley, California. The company initially started with plant-based cheese.

• Violife , Violife was incorporated in 1990 and is headquartered in Thessaloniki, Greece. The company specializes in the manufacturing, marketing, and distribution of vegan products across the globe. In October 2019, Upfield, a firm owned by American global investment company KKR & Co. Inc., acquired Violife. The company offers a number of products for vegans, vegetarians, and flexitarians across more than 50 countries. Violife has a wide range of vegan alternatives to cheese products that are free from dairy, gluten, nuts, casein, soy, lactose, GMO, artificial preservatives, and cholesterol. The company offers its products in more than 30 countries, including Canada, Mexico, Argentina, India, Finland, Ukraine, South Korea, and Indonesia.

• Dr-Cow Tree Nut Cheese , Dr-Cow Tree Nut Cheese was founded in 2003 and is headquartered in New York, U.S. The company specializes in the manufacturing, sales, marketing, and distribution of various alcoholic beverages, organic & raw nut cheese, yogurts, spreads, snacks, and sweets across the globe. The company offers a wide range of products that are vegan, organic, soy-free, gluten-free, dairy-free, egg-free, and non-GMO. It supplies to the foodservices sector in the U.S. and sells its products through more than 17 outlets, including Peace Pies, Erewhom Natural Food Market, and Christopher Kitchen’s, across the country.

• Tofutti Brands, Inc. , Tofutti Brands, Inc. was founded in 1984 and is headquartered in New Jersey, U.S. The company is engaged in the production, development, and marketing of cheeses, dairy-free and vegan frozen desserts, and other food products. Its products are vegan and contain no butterfat, cholesterol, or lactose and use soy and other vegetable proteins. The products reportedly offer the same texture and full-bodied taste as their dairy-based counterparts. The company offers a wide line of vegan, dairy-free products that use soy or other vegetable-based proteins and fat derived from corn and palm oils. The dairy-free products include frozen desserts, cheeses and spreads, and other frozen food products. The products are certified kosher-parve and the vegan cheese products are gluten-free and certified halal.

• Tyne Chease Limited , Tyne Chease Limited was founded in 2014 and is headquartered in Stocksfield, England. The company is engaged in the manufacturing, sales, marketing, and distribution of various vegan products across Europe. It also specializes in artisan vegan cheese alternatives. The company offers its products through a wide spread distribution network across the UK. through distributors such as Suma and The Bedford Cheese Company, as well as retail stores across the country, including Hanover Healthfoods, The Good Choice, and Field & Fodder.

• Miyoko’s Creamery , Miyoko’s Creamery was founded in 2014 and is headquartered in California, U.S. The company specializes in the manufacturing, sales, marketing, and distribution of various dairy-free products such as cheese, butter, and other dairy alternatives products. Miyoko’s Creamery, formerly known as Miyoko’s Kitchen, uses conventional cheese making cultures and techniques. The company offers its products through retailers across the U.S., including Whole Foods Market, Target, Sprouts Farmers Market, Publix, Walmart, Safeway, Kroger, and Trader Joe’s.

• Parmela Creamery , Parmela Creamery was founded in 2019 and is headquartered in California, U.S. The company is engaged in the manufacturing, sales, marketing, and distribution of dairy-free cheese across the U.S. Parmela Creamery uses conventional cheese making cultures and techniques and specializes in manufacturing cheese from cashew milk. The company offers its products through well-established distribution network of Whole Foods Market and Central Market across the U.S.

• Bute Island Foods Ltd. , Bute Island Foods Ltd. was founded in 1988 and is headquartered in the Isle of Bute, UK. The company is a leading manufacturer of vegan cheese products that include blocks, creamy, grated, and slices—all manufactured with coconut oil and non-GMO ingredients. The company manufacturers its range of products in the UK. whereas it distributes its products through its robust distribution network of distributors, suppliers, and wholesalers across countries in Europe and Asia, as well as in South Africa, Canada, and Australia. Its distribution network includes retailers such as Sainsbury’s, SPAR, Veggie Garden, and Waitrose, as well as online retailers like Alternative Stores, ASDA Online, GreenBay, iVegan, and The Cheese Hut.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Vegan Cheese Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Vegan Cheese Market Report Assumptions:

• The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.