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Almond Cheese Market Overview:
Almond Cheese Market size is estimated to reach $1.65 billion by 2030, growing at a CAGR of 14.7% during the forecast period 2023-2030. The almond cheese market has seen significant growth in recent years as consumers increasingly seek out plant-based and dairy-free alternatives to traditional cheese products.
According to a survey conducted by the International Food Information Council (IFIC) , 26% of consumers report consuming more plant-based proteins post covid 19 pandemic. Almond cheese, which is made from almond milk and other natural ingredients, has become a popular choice for those looking to reduce their dairy intake or follow a vegan or plant-based diet. These factors positively influence the Almond Cheese Market outlook during the forecast period.
Market Snapshot:
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Almond Cheese Market - Report Coverage:
The “Almond Cheese Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Almond Cheese Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
One of the major effects of the pandemic was the disruption of global supply chains, which affected the availability and cost of ingredients used in the production of almond cheese. The pandemic also accelerated the trend of online shopping, with more consumers turning to e-commerce platforms to purchase groceries, including almond cheese. This trend was particularly pronounced in regions such as Asia-Pacific, where e-commerce sales of food and beverage products increased by over 30% in 2021.
The Russia-Ukraine war is analyzed to have an indirect impact on the almond cheese market. Supply chain disruptions, trade barriers and sanctions restricted the flow of ingredients and finished products which resulted to higher price and limited availability in certain market segments. Apart from this, lower consumer confidence and discretionary spending due to war is also analyzed to negatively impact the demand for premium food products including almond cheese in the domestic and regional market.
Key Takeaways:
Europe Region is leading the market
According to the Almond Cheese Market forecast, the Europe Region held the largest market share of 36% of the global sales in 2022.There is the growing popularity of plant-based and vegan diets in this region.This plays a major role in driving the market forward in Europe. Additionally, almond cheese is typically made with natural and organic ingredients.The European Union has implemented regulations that require labeling of all food products that contain GMOs, making it easier for consumers to identify such products.
Flavoured Almond cheese is gaining popularity
In the Almond Cheese Market analysis, the Flavoured Almond Cheese segment is estimated to grow with the highest CAGR of 15.3% during the forecast period.The reason for the fastest growth is the increasing availability of innovative and unique flavors in the market. Companies are constantly developing and introducing new and exciting flavors to cater for the diverse taste preferences of consumers. Some popular flavored almond cheese varieties include garlic and herb, smoked Gouda, truffle, and jalapeno.
Increasing popularity of organic and non-GMO products helps the market grow
Consumers are becoming more conscious of the ingredients in their food and are seeking out products that are free from synthetic chemicals and genetically modified organisms. This trend is particularly evident in regions such as North America and Europe, where sales of organic and non-GMO products have been steadily increasing in recent years.
Other alternatives in the market hinder the rapid market growth
One of the major challenges facing the almond cheese market is the competition from other plant-based dairy alternatives such as soy, rice, and coconut. While almond cheese has seen significant growth in recent years, these other dairy alternatives remain popular with consumers, particularly in regions such as Asia where soy products have a long history of use.
Almond Cheese Market Share (%) By Region, 2022
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Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Almond Cheese Market. The top 10 companies in this industry are listed below:
1. Kite Hill (Soft Fresh Original, Soft Ripened, Ricotta, Cream Cheese Style Spread)
2. Miyoko's Kitchen (Classic Double Cream Chive, Smoked Farmhouse)
3. Treeline Treenut Cheese (Scallion, Chipotle Serrano)
4. Vtopian Artisan Cheeses (Classic Chevre, Camembert, Pepper Jack)
5. Dr-Cow Tree Nut Cheese (Cream Cheese, Aged Cashew & Dulse)
6. rdinary LLC (Smoked Cheddar, Garden Herb Cheddar)
7. Lavender and Lovage Ltd (Lemon & Thyme Cheese)
8. Vtopia, Inc. (Aged White Cheddar, Smoky Cheddar)
9. Dr-Cow Tree Nut Cheese LLC (Aged Tree Nut Cheese, Blue Tree Nut Cheese)
10. Go Max Go Foods (Vegan White Chocolate, Vegan Milk Chocolate)
Scope of the Report:
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1. Almond Cheese Market - Overview
1.1. Definitions and Scope
2. Almond Cheese Market - Executive Summary
3. Almond Cheese Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Almond Cheese Market - Start-up Companies Scenario (Premium)
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Almond Cheese Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Almond Cheese Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Almond Cheese Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Almond Cheese Market – by Flavour (Market Size – $Million/$Billion)
8.1. Regular
8.2. Flavoured
9. Almond Cheese Market – by Form (Market Size – $Million/$Billion)
9.1. Sliced
9.2. Shredded
9.3. Spreadable
9.4. Block
9.5. Powdered
10. Almond Cheese Market – by End Use (Market Size – $Million/$Billion)
10.1.B2C
10.2. B2B
11. Almond Cheese Market – by Sales Channel (Market Size – $Million/$Billion)
11.1. Hypermarkets/Supermarkets
11.2. Convenience Stores
11.3. Specialty Stores
11.4. Online Retailing
11.5 Others
12. Almond Cheese Market – by Geography (Market Size – $Million/$Billion)
12.1. North America
12.1.1. The U.S.
12.1.2. Canada
12.1.3. Mexico
12.2. Europe
12.2.1. UK
12.2.2. Germany
12.2.3. France
12.2.4. Italy
12.2.5. Spain
12.2.6. Russia
12.2.7. Rest of Europe
12.3. Asia-Pacific
12.3.1. China
12.3.2. India
12.3.3. Japan
12.3.4. South Korea
12.3.5. Australia & New Zealand
12.3.6. Rest of Asia-Pacific
12.4. South America
12.4.1. Brazil
12.4.2. Argentina
12.4.3. Chile
12.4.4. Colombia
12.4.5. Rest of South America
12.5. Rest of the World
12.5.1. Middle East
12.5.2. Africa
13. Almond Cheese Market – Entropy
14. Almond Cheese Market – Industry/Segment Competition Landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Flavour Type – Key Companies
14.1.2. Market Share by Region – Key Companies
14.1.3. Market Share by Country – Key Companies
14.2. Competition Matrix
14.3. Best Practices for Companies
15. Almond Cheese Market – Key Company List by Country Premium Premium
16. Almond Cheese Market - Company Analysis
1. Kite Hill
2. Miyoko's Kitchen
3. Treeline Treenut Cheese
4. Vtopian Artisan Cheeses
5. Dr-Cow Tree Nut Cheese
6. Nuttin Ordinary LLC
7. Lavender and Lovage Ltd
8. Vtopia, Inc.
9. Dr-Cow Tree Nut Cheese LLC
10. Go Max Go Foods
∙ "Financials to the Private Companies would be provided on best-effort basis."
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The Almond Cheese Market is projected to grow at 14.7% CAGR during the forecast period 2023-2030.
Global Almond Cheese Market size is estimated to be $0.63 billion in 2023 and is projected to reach $1.65 billion by 2030
The leading players in the Almond Cheese Market are Kite Hill, Daiya Foods Inc., Follow Your Heart, Dr-Cow Tree Nut Cheese, Heidi Ho and others.
Growing demand for plant-based and dairy-free alternatives to traditional cheese products are some of the major Almond Cheese Market trends in the industry which will create growth opportunities for the market during the forecast period.
Increasing awareness of the health benefits associated with almonds and its products are the driving factors of the market.