Asia-Pacific Plant-based Cheese Market Research Report, 2028

For many people, cheese is a favorite food item, in addition to being an important ingredient in favorite foods, such as pizza, lasagna, enchiladas, and cheeseburgers. Traditionally, cheese has been made with milk from a variety of animals, primarily from cows, but also from goats, sheep, water buffalo, and others. As interest in reducing one’s consumption of animal-based products has grown, plant-based cheese alternatives based on nuts, oils, grains, soy, and other plant products have been developed. Plant-based cheese alternatives are produced using techniques similar to those used in the production of processed dairy cheese. An emulsion is created which include oils and protein from plant sources, water, emulsifiers, stabilizers, and natural flavoring. And an increasing number of in Asia Pacific regions are moving away from animal-rich diets to adopt plant-based dietary patterns. Adopting a plant-based diet is gaining considerable attention. It is supported by national health research organizations because it is considered more sustainable to the health and the environment than a regular diet including meat. Some of the startups of Asia Pacific regions includes Cowvathi, Madree Vegan Cheese (Indonesia),The Better Cheese, Veggital , OmniFoods. Vegan cheese has a range of flavors, from mild & nutty to sharp & tangy, achieved through nutritional yeast for a cheesy taste & herbs, spices, & fruits for unique profiles. Some brands also use fermented ingredients like miso or kimchi to add a pungent taste. According to the research report, “Asia Plant Based Cheese Market Research Report, 2028†published by Actual Market Research, the market was valued more than USD 334 Million market size in 2022. As consumers become more health-conscious and environmentally aware, there is a growing demand for dairy-free alternatives, including plant-based cheeses. Plant-based cheese products have gained popularity due to their ability to mimic the taste and texture of conventional dairy cheese while being cruelty-free and more sustainable. The region's diverse culinary traditions have also driven innovation in plant-based cheese varieties, catering to the preferences and tastes of various cultures. Advancements in food technology and manufacturing processes have allowed for significant improvements in the sensory characteristics of plant-based cheeses, making them more appealing to a broader audience. Plant-based cheeses, made from ingredients such as nuts, soy, and coconut, offer a more sustainable option with a significantly lower carbon footprint.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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The Asia-Pacific vegan cheese market growth evaluation entails the assessment of China, India, Japan, South Korea, Australia and the rest of the Asia-Pacific. The widespread availability of plant-based cheese products has been made possible by Japan's strong retail infrastructure and an increase in the number of specialized vegan outlets, which has further fueled market expansion. Additionally, the well-established food sector of the nation, which is renowned for its excellence and strict standards, has been instrumental in fostering customer confidence in the security and authenticity of these substitutes. Along with Japan, Australia is also leading the market with a nearby CAGR of 12.59% from 2023 to 2028. The China market is expected to expand by more than USD 47 Million by 2028. India has a long and historic tradition of creating dairy cheese, but plant-based cheese is growing in popularity there. People for the Ethical Treatment of Animals (PETA) are the largest animal rights organization in the world, and PETA entities have more than 9 million members and supporters globally. PETA urges the cheese lovers to change their preference from animal sources cheese products to vegan cheese which are indulged with many delicious cashews, almond, and other plant based products. The plant based cheese products are segmented on the basis of its type’s which includes Mozzarella, Cheddar, Feta, Parmesan, Roquefort, Other types of cheese. Mozzarella chesses of many types are common in the marketplace. It is of high demand in grocery shops across the Asia Pacific regions. A testament to this increasingly popularity of mozzarella cheese is the fact that various countries have started producing this cheese. Along with this the consumption of Cheddar and Parmesan Cheese is also leading the overall growth of the market. Roquefort is a popular French cheese, reported to be called in France the ‘cheese of kings and popes.’ This cheese is protected by AOC (PDO) guidelines. Cheddar, known for its sharp and tangy flavor, has also seen a surge in plant-based alternatives. Plant-based Cheddar cheese is utilized in sandwiches, burgers, and snacks, providing a satisfying cheesy experience without dairy. Feta, a crumbly and savory cheese, has gained popularity for its use in Mediterranean cuisine. Plant-based Feta cheese allows consumers to enjoy the authentic taste and texture in dishes like salads and pastries while aligning with dietary preferences. Parmesan, renowned for its nutty and umami-rich profile, is another cheese variety that has found its place in the plant-based market. Plant-based Parmesan alternatives are used to sprinkle over pasta, salads, and other dishes, giving them a cheesy, savory kick. Roquefort, a blue cheese with a distinctive moldy character, has inspired plant-based alternatives for consumers who appreciate its unique taste and texture. These alternatives cater to the growing demand for vegan gourmet cheese options. According to the distributional channels, the market is segmented into Hypermarkets/ Supermarkets, Conventional Stores, E- commerce, and other channels. In Asia Pacific regions, the cheese market is dominated by the hypermarkets/supermarkets, as it provide the most convenient way for the consumers to buy the cheese with their clear labels. Additionally the conventional stores also provide the best medium for the consumers as these outlets offer a wide selection of products, including various brands and flavors of plant-based cheese, making it convenient for consumers to find their preferred options during their regular grocery shopping trips. In recent years, the online channel has witnessed remarkable growth in the APAC plant-based cheese market. Consumers are increasingly turning to e-commerce platforms to explore and purchase plant-based cheese products. The online channel offers convenience, a broader variety of choices, and the ability to compare products and prices, which resonates with consumers seeking specific dietary preferences and niche flavors. Additionally, the rise of direct-to-consumer brands and specialized online retailers has further fueled the online sales of plant-based cheese.

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Nikita Jabrela

Business Development Manager

Considered in this report: • Geography: Asia Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • Asia Pacific Plant Based Cheese market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Mozzarella • Cheddar • Feta • Parmesan • Roquefort • Others

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By Distribution Channel: • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Plant Based Cheese industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.