Global Cheese Analogue Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Cheese analogue is also known as substitute cheese. It is a form of cheese that is prepared with dairy, partial dairy, or non-dairy ingredients, in which milk fats or milk proteins are partly or completely replaced by vegetable fats and oils. Cheese analogues are increasingly adopted in food products such as sandwiches, pizza, burgers, and so on, as a culinary replacement for cheese. The growing incidences of celiac diseases and lactose intolerance, surging demand for processed food products, and rapid expansion of the food service industry are prominent factors that are impelling market growth across the globe.
The National Investment Promotion & Facilitation Agency estimates that FDI inflows to India's food processing sector are increasing by USD 393.41 million and with a total of USD 10.88 billion in 2021 (from April 2000 to November 2021). Also, it is anticipated that by 2025, the Indian food processing industry is valued at USD 470 billion. Accordingly, the expansion of the food processing sector is exhibiting a positive influence on the growth of the Cheese Analogue Market. In addition, the increasing disposable income and rising demand for plant-based products are acting as catalyzing factors that are accelerating the growth of the Cheese Analogue Market. However, taste and textural incompatibility stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cheese Analogue Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the marketin terms of revenue, owing to the growing trend of snacking, and the huge presence of well-established market players. Whereas the Asia Pacific is expected to grow with the highestduring the forecast period. Factors such as increasing disposable income, as well as thriving growth of the food & beverage industry, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Daiya Foods Inc.
Miyoko's Kitchen, Inc.
Lyrical Foods, Inc.
Whitehall Specialties, Inc.
Bute Island Foods Ltd.
Blendhub Corporation Group
MCT Dairies, Inc.
Recent Developments in the Market:
In December 2021, Daiya declared the launch of reformulated Daiya Blocks that include a new enhanced formulation which is made from oats and chickpeas, along with better packaging. The product is available in stores across the United States and Canada.
In October 2021, Daiya Foods announced the introduction of a new food service website to help operators to meet the increasing consumer demand and discover fresh menu options in a handy online format.
Global Cheese Analogue Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Form, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Dairy-based Cheese Analogue
Plant-based Cheese Analogue
Partial Dairy-based Cheese Analogue
By End User:
Rest of the World