Global Cheese Analogue Market to Grow at a CAGR of 6.50% During 2024-2032, Aided by the Growing Manufacturing of Cheese Analogue

The growing availability of highly functional and cost-effective ingredients for manufacturing affordable and quality cheese analogue is augmenting the market growth. With the rising consumer demand for healthy and plant-based diets, the preference for non-dairy cheese analogue is significantly rising. Moreover, the growing demand for healthy frozen and ready-to-eat food products, especially by the millennial and Gen-Z population, is leading to a surge in the incorporation of cheese analogue owing to long shelf stability and low saturated fat content. As the foodservice sector is witnessing robust growth and leading fast-food chains are expanding their presence, the demand for cheese analogue is significantly bolstering. Furthermore, the increasing innovations to develop cheese analogues that offer the same sensory experience as conventional cheese and enhanced texture and flavour profile are expected to invigorate the market growth in the forecast period.

Some of the significant companies in the market for cheese analogue are Ingredion Inc (NYSE: INGR) and Willicroft. In October 2020, the latter launched the ‘This is Not Cheese’ range in Belgium and the Netherlands. The range is cashew-based and includes cheese sauce, fondue, and grated cheese, among others. The product line includes ‘This is Not Cheese Sauce’, ‘This is Not Cream Cheese Dill’, ‘This is Not Cream Cheese Classic’, and ‘This is Not Grated Cheese (Italian Style)’, which would be available at 100 Albert Heijn stores across Belgium and the Netherlands. It also features recyclable container packaging, which reflects the company’s sustainability goals. In addition, the company aims to locally and ethically source ingredients for the product line to aid in combating the climate crisis.

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Market Analysis by Type, Application, and Region:

• The market, on the basis of type, can be divided into non-dairy cheese analogue, dairy cheese analogue, and partial dairy cheese analogue.

• Based on application, the market can be divided into bakery and confectionery, breakfast cereals, sauces and dressings, and processed meat, fish, and poultry, among others.

• The regional markets for cheese analogue include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising preference for non-dairy cheese alternatives owing to the growing vegan population is bolstering the market for cheese analogue.

• The market growth of cheese analogue can be attributed to the increasing investments in new generation start-ups, the expansion of distribution channels, and the growing demand for convenience food products.

• With cheese analogue being easy to manufacture and cost-effective, its demand in the food and beverage sector is significantly growing.

• The increasing development of cheese analogues with diverse flavour and nutrition profiles by the leading companies is fuelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for cheese analogue for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and major regions of cheese analogue.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cheese analogue market are Pro Cheese.gr, Kaskat Ltd, Naria Cheese, and Polmlek Group Central, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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