The global cheese analogue market was valued at USD 2,197.58 million in 2019 and is anticipated to reach USD 5,450.76 million by 2032, reflecting a compound annual growth rate (CAGR) of 7.45% during the forecast period of 2020-2032. Europe led the market in 2019, accounting for a dominant share of 44.19%. Additionally, the U.S. cheese analogue market is expected to experience substantial growth, projected to reach approximately USD 878 million by 2032, fueled by rising consumer demand for plant-based and lactose-free dairy alternatives.
Cheese analogue, also referred to as imitation cheese or substitute cheese, closely resembles traditional milk cheese in appearance, texture, and intended use. However, it substitutes milk protein and fat partially or entirely with vegetable oils, fats, and proteins such as soybean, palm oil, and peanut protein. These alternatives have gained significant traction among food processors due to their lower content of fat, trans fat, cholesterol, and calories.
Cheese analogues are available in various types and find diverse applications in the food industry. They are commonly used in dishes like pizza, lasagne, and pasta and are widely incorporated into ready-to-eat or ready-to-cook meals and other convenience foods. Their extended shelf life, cost-efficiency, and versatility make them a preferred choice. As a result, the rising popularity and broad usage of cheese analogues in the food sector are expected to drive their demand in the coming years.
Information Source: https://www.fortunebusinessinsights.com/cheese-analogue-market-103216
A list of all the renowned cheese analogue manufacturers operating in the global market:
- Follow Your Heart (California, United States)
- Groupe Lactalis (Laval, France)
- Daiya Foods Inc. (Vancouver, Canada)
- Miyoko's Kitchen, Inc. (California. United States)
- Lyrical Foods, Inc. (United States)
- Whitehall Specialties Inc. (Whitehall, United States)
- Bute Island Foods Inc. (U.K.)
- Blendhub Corporation Group (Spain)
- Ingredion Inc. (Illinois, United States)
- Ornua Ingredients (United States)
SEGMENTATION
Non-dairy Cheese AnaloguesSegment Generated 59.67% Share in 2019
Based on type, the non-dairy cheese analogues segment earned 59.67% in terms of the global cheese analogue market share in 2019. It is set to dominate throughout the forthcoming years backed by the high demand for plant-based cheese products from numerous end-use industries. These products are also very simple to manufacture as the required raw materials are easily available.
How Did We Develop This Report?
We have conducted thorough primary and secondary research to gather information about various aspects of the market. We have also conducted interviews with key stakeholders, such as marketing managers, sales managers, product managers, and C-level executives to derive insights, namely, application pattern, average pricing, raw material supply & demand, and growth rate. Besides, we relied on authentic paid databases, relevant associations, investor presentations, industry journals, and annual reports to deliver our clients in-depth details about value and supply chain analysis, revenues, restraints, opportunities, and trends.
Drivers & Restraints-
Rising Demand for Novel Products with Altered Dietary Properties to Aid Growth
Imitation cheese is very cost-effective. Hence, many processed food manufacturers are aiming to use this product to lower the production cost of food items, such as lasagna, sandwiches, and pizzas. The International Journal of Chemical Studies, for instance, declared in a 2019 report that cheese analogues made out of the blend of acid casein and rennet casein were cheaper than milk cheese.
At the same time, these products are helping manufacturers to meet the consumers’ demand for state-of-the-art food infused with altered dietary properties. These factors are expected to bolster the cheese analogue market growth in the coming years. However, plant-based cheese has a plasticky texture and tastes bland. It may hamper its demand.
Regional Insights-
Rapid Urbanization to Surge Popularity of Imitation Cheese in Asia Pacific
Geographically, Europe held USD 971.21 million in 2019 and would retain its leading position in the near future. This growth is attributable to the high demand for better-for-you non-dairy cheese alternatives in countries, such as Spain, Germany, France, and the U.K.
North America, on the other hand, is expected to remain in the second position fueled by the increasing usage of pasteurized processed cheddar and mozzarella in a wide variety of cheese dips, cheese causes, spaghetti, and salads in the region. In Asia Pacific, the market is set to grow considerably because of the high demand for cheese analogues occurring due to rapid urbanization.
Competitive Landscape-
Key Players Focus on Developing Unique Products to Attract More Consumers
The market houses numerous manufacturers that are mainly focusing on introducing novel cheese analogues to cater to the high consumer demand. Some of the others are also conducting extensive research and development activities to create plant-based products. Below are the two latest industry developments:
- October 2020: Bel Brands USA introduced its latest plant-based and dairy-free Boursin cheese in Garlic & Herbs flavor. It is suitable for both flexitarians and This way, the company will be able to broaden its presence in the plant-based world.
- February 2020: Miyoko’s Creamery, a vegan dairy brand, unveiled its new plant-based mozzarella for the foodservice industry. The ‘Cultured Vegan Pizza Mozz’ tastes like its cow dairy analogue and can be used in myriad Italian style dishes, lasagnas, and pizzas.
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