As per Future Market Insights (FMI), the processed cheese market will reach nearly US$ 11.1 Bn by 2022. snackable cheese choices are becoming increasingly popular. As a result, many cheese processors have begun introducing cheese products suited for on-the-go nibbling. Consumers increasingly purchase high-protein, low-carb snacks produced with high-quality, simple ingredients. Within the cheese industry, the snacking trend is combined with another trend: a desire for flavour variety and adventure.
The processed cheese market is anticipated to expand at a CAGR of 3.8% over the anticipated forecast period, according to data from Future Market Insights. Market value is anticipated to rise from USD 15.9 billion in 2022 to USD 23.2 billion in 2032.
Cream cheese spreads, for example, are available in various tastes, including Original, Aged Cheddar, Seriously Strawberry, and Very Veggie. Processed cheese is popular among children because of its smooth texture and mild flavour. Furthermore, some younger consumers avoid real cheese in favor of dairy-free alternatives.
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Consumers that identify as flexitarians are significantly responsible for the general growth of the plant-based movement. Such consumers attempt to consume fewer animal products rather than fully eliminate them. Processed nut-free cheese substitutes are now available in certain stores, made from cultured legumes and oats.
Key Takeaways from Market Study
- North America processed cheese market is expected to register 1.8% CAGR between 2022 and 2032
- The demand for processed cheese is expected to grow at 2.0% CAGR between 2022 and 2031.
- The Japan processed cheese market will grow at 1.6% CAGR between 2022 and 2032 The India processed cheese market will grow at 2.7% CAGR between 2022 and 2032
- Based on form, the spreadable cheese segment is expected to witness fastest growth over the forecast period
“The need to create new cheese snack products has resulted in a demand for more intriguing flavours. Today’s consumers want bolder flavours and more detailed brand names. Simultaneously, the cheeses utilized in specific goods are becoming increasingly specific and personalized. Hence, leading players are likely to capitalize on this existing trend to gain revenue” said a lead analyst at FMI.
Who is winning?
Some of the leading companies offering Processed Cheese are Koninklijke FrieslandCampina N.V, Gilman Cheese Corporation, Arla Foods Amba, Almarai Company, Fonterra Co-operative Group Limited, Groupe Lactalis S.A., Associated Milk Producers, Rumiano Cheese Co, AMUL, Sargento Foods, Inc., Molkerei Ammerland Eg, Hilmar Cheese Company, Inc., Savencia SA, Le Groupe Bel, Kraft Heinz, Megmilk Snow Brand Co Ltd., Rokko Butter, Modern Mashrek, and Others.
Get Valuable Insights into the Processed Cheese market
Future Market Insights, in its new offering, provides an unbiased analysis of the Processed Cheese market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
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The study divulges compelling insights on the Processed Cheese market based on by Type (Blue Cheese, Brick Cheese, Camembert Cheese, Cheddar Cheese, Cottage Cheese, Cream Cheese, Mozzarella Cheese, Romano Cheese, Swiss Cheese, and Other Processed Cheese), by Form (Cheese Blocks, Traingle, Rectangle, Circle, Square, Cheese Slice, Cheese Spread, and Cheese Spray), by Milk Source (Cattle Milk, Goat Milk, and Sheep Milk), by End Use (Retail / Household, HoReCa, and F&B Industry), by Distribution Channel (B2B and B2C) and across seven major regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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