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:
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.