Vegan Cheese Market Regional Analysis:
European Market Insights
The vegan cheese market in the Europe region is poised to hold 37% revenue share by 2035. According to a report from the EU-funded SMART PROTEIN project, the Netherlands has taken the lead in selling plant-based cheese. The project examined retail data from 11 European countries to pinpoint how much plant-based consumption increased in the region from 2018 to 2020. The growth rate is 400%. Additionally, in Europe, sales of dairy alternatives increased by 49% between 2020 and 2022, according to the Good Food Institute. This is due to an increase in new product introductions to the European market. Such as, in January 2023, his startup Väcka developed a plant-based cheese using an unlikely ingredient: fermented melon seed milk. Additionally, Amsterdam-based cheese company Willicroft acquired plant-based cheese in May 2022 and sold it to British dairy farms. They bring plant-based, eco-friendly cheese to the European masses.
APEJ Market Insights
The Asia Pacific vegan cheese market is set to grow substantially through 2035. Regional market growth is driven by the presence of a high number of lactose intolerant people, as well as an increasing interest in alternative plant milk products. For instance, since 2020, plant based milk and alternative dairy products have experienced significant growth, with a nearly 60% increase in plant based milk and alternative dairy products, according to a comprehensive industry report on the increasing popularity of plant based diets and products in Australia by the Grains and Legumes Nutrition Council.
