Global Soy Cheese Market – Industry Trends and Forecast to 2029

Soy Cheese Market Analysis and Size

Cheese has become a popular product not only in urban households but also in the global food processing industry. Soy cheese has emerged as the most promising market worldwide in the last decade or so. Soy cheese is easy to digest and low in calories, as opposed to bovine cheese, which is difficult to digest and high in cholesterol and fat. Soy cheese also contains more vitamins, particularly vitamins A, B1, B2, and B3, as well as calcium and phosphorus.

Data Bridge Market Research analyses that the soy cheese market which was valued at USD 383.09 million in 2021 is expected to reach the value of USD 982.93 million by 2029, at a CAGR of 12.50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Soy Cheese Market Scope and Segmentation

Market Definition

Soy Cheese is a type of cheese made from pureed soybean milk. Soymilk is primarily made from pureed soybeans and water. It is then processed into a soy-based product that resembles cheese made from animal milk in appearance and texture. American, Cream cheese, Cheddar, Garlic and Herb, Mexican, Monterey Jack, Mozzarella, Parmesan, Pepper Jack, Provolone, and Swiss are among the flavours available. Soy cheese is low in sodium, fat, and calcium while being high in protein.

Drivers:

• Growing obesity and cholesterol problems due to high consumption of dairy products

Increasing public awareness of the health benefits of soy cheese, such as their high calcium and protein content, is a factor driving the growth of the targeted market. Obesity and cholesterol problems are becoming more prevalent around the world as a result of changes in eating habits. Consumers are becoming more health conscious, which is increasing demand for and consumption of soy cheese. Soy cheese has emerged as a significant substitute for dairy cheese and is expected to grow at a rapid pace during the forecast period. Furthermore, technological advancements in cheese production and increasing quality are a few of the factors driving the market.

• The growing trend of veganism is influencing market growth

Consumers' willingness to spend money on plant based foods has skyrocketed. Furthermore, there has been an increase in the desire for food alternatives. Several vegan cheese brands are promoting and encouraging consumers to get essential nutrients from plant-based foods. Changes in the food industry, as well as changes in consumption habits, are contributing to the growth of the soy cheese market.

The rise of the vegan cheese industry is being fuelled by rising disposable income, changing tastes and preferences, and increased adoption of the western lifestyle. Other market growth drivers include an increase in the global vegan population and growing concerns about animal safety and health. The increased focus of manufacturers on product offerings will provide the market with even more profitable growth potential.

Opportunities

The growing preference for soy cheese by lactose-intolerant people is further fuelling the market. The introduction of value-added products, such as flavoured milk varieties with low-sugar and fat-free content, is also propelling market growth. Soy milk-based infant formulas are also gaining popularity due to their high nutritional content, which helps children avoid neurodevelopment disorders. Furthermore, rising demand for soy milk in the personal care sector for the production of soaps, creams, and lotions is catalysing the market. The COVID-19 pandemic in early 2020 has also increased demand for soy milk.

Restraints

The soy cheese is more expensive than other cheeses on the market, which may limit the market's growth. As soy cheese is highly perishable, it may pose a challenge to the soy cheese market during the forecast period.

This soy cheese market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Soy Cheese market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Post COVID-19 Impact on Soy Cheese Market

Consumers stacked products with high nutritional value to keep them healthy during the pandemic period. As a result, sales were stabilised to some extent because of the pandemic, consumers have adjusted to a new normal lifestyle and as a result, and an increasing number of consumers prefer quick and nutritious snacking options. COVID-19 opened the door for a slew of new private firms to enter the market in order to meet the ongoing demand. Soy cheeses are a quick and easy source of essential nutrients, so demand for innovative products is always high in developed countries. As home-bound consumers look for retail options, online distributors are becoming more interested due to the aforementioned factors.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In October 2021, Daiya Foods Inc. had launched a new foodservice website to assist operators in meeting rising consumer demand for soy foods. The goal of this new online interface is to increase the company's visibility on college campuses, restaurants, and healthcare facilities
• Violife Cheese, manufactured by Upfield Holdings B.V, entered the Middle Eastern market in July 2021, following the introduction of the company's Flora brand in 2020. The product is available in the United Arab Emirates, Saudi Arabia, Qatar, Oman, and Bahrain.

Global Soy Cheese Market Scope

The soy cheese market is segmented on the basis of flavour and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Flavour

• Cheddar Flavour
• Mozzarella Flavour
• Swiss Flavour
• Monterey Jack Flavour
• Pepper Jack / Jalapeno Flavour
• Mexican Flavour
• Garlic/Herb Flavour
• American Flavour
• Parmesan Flavour
• Provolone Flavour
• Cream Cheese Alternative

Distribution channel

• Store based
• Supermarkets and Hypermarkets
• Convenience stores
• Others
• Non-store based

Soy Cheese Market Regional Analysis/Insights

The soy cheese market is analysed and market size insights and trends are provided by country, flavour and distribution channel as referenced above.

The countries covered in the Soy Cheese market report are the U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.

North America dominates the soy cheese market due to the rising occurrences of lactose intolerant among the growing population.

Asia-Pacific is expected to grow in the forecast period 2022 to 2029 because of growing awareness among the consumer regarding the benefits of soy cheese as well as the high demand for plant-based bakery and confectionery products.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Soy Cheese Market Share Analysis

The soy cheese market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Soy Cheese market.

Some of the major players operating in the soy cheese market are:

• Ausnutria Dairy Corporation Ltd. (China)
• AVH Dairy Trade B.V (Netherlands)
• Soy Partners (U.S)
• Granarolo S.p.A. (Italy)
• Meyenberg (U.S)
• Redwood Hill Farm & Creamery (U.S)
• St Helen's Farm Ltd (U.S)
• Stickney Hill Dairy Inc (U.S)
• Woolwich Dairy Inc (U.S)
• Xi'an Baiyue Soy Dairy Group Co. Ltd (China)

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