Cheese Substitutes - NAFTA

NAFTA

Highlights

Revenue in the Cheese Substitutes market amounts to US$285.30m in 2024. The market is expected to grow annually by 5.19% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$248m in 2024).
In relation to total population figures, per person revenues of US$0.56 are generated in 2024.
In the Cheese Substitutes market, volume is expected to amount to 13.57m kg by 2029. The Cheese Substitutes market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Cheese Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Cheese Substitutes Market within The Food market in NAFTA has seen minimal growth due to factors such as consumer health awareness and convenience of online health services. Despite negligible growth, the market is still impacted by increasing adoption of digital technologies.

Customer preferences: As consumers become more health-conscious and environmentally aware, there has been a growing demand for plant-based alternatives to traditional dairy products. This has led to a rise in the popularity of cheese substitutes made from ingredients like nuts, tofu, and coconut milk. Additionally, with the rise of veganism and lactose intolerance, there has been an increasing preference for dairy-free options in the Cheese Substitutes Market. This trend is driven by cultural shifts towards plant-based diets and a growing awareness of animal welfare and sustainable food choices.

Trends in the market: In recent years, there has been a shift towards plant-based diets and a growing demand for non-dairy alternatives in The Food market. This trend has extended to the Cheese Substitutes Market of the Dairy Products & Eggs Market within NAFTA, with an increasing number of consumers seeking out dairy-free options. This trend is driven by various factors including health concerns, ethical considerations, and environmental consciousness. As a result, we are seeing a surge in the production and availability of cheese substitutes made from plant-based ingredients such as soy, almond, and coconut. This trend is expected to continue in the coming years, with the potential to significantly impact the dairy industry and its stakeholders. Manufacturers of cheese substitutes will likely see growth opportunities, while traditional dairy producers may face challenges in meeting changing consumer preferences. Additionally, this trend could also have implications for trade agreements within NAFTA, as the demand for cheese substitutes may impact the import and export of dairy products.

Local special circumstances: In the Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market, unique local factors play a significant role in shaping market dynamics. For instance, in Canada, the market is heavily influenced by the country's strict regulations on dairy products. This has led to the popularity of plant-based cheese substitutes among vegan and lactose-intolerant consumers. On the other hand, in Mexico, the market is driven by the growing demand for healthier and more sustainable food options, leading to the rise of nut-based cheese substitutes. Additionally, the widespread availability of traditional cheese in Mexico has also impacted the market for cheese substitutes.

Underlying macroeconomic factors: The Cheese Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by various macroeconomic factors. Factors such as global economic trends, national economic health, fiscal policies, and other financial indicators all impact the performance of this market. For instance, countries with strong economic growth and stable fiscal policies tend to have higher demand for cheese substitutes, as consumers in these countries have more disposable income to spend on non-dairy alternatives. Additionally, increasing health consciousness and rising prevalence of lactose intolerance are also driving the demand for cheese substitutes, especially in developed countries. On the other hand, economic downturns and unstable political environments can negatively impact the demand for cheese substitutes, as consumers tend to prioritize essential food items during times of financial instability. Overall, the Cheese Substitutes Market is highly influenced by macroeconomic factors and their impact on consumer behavior and spending.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.