Based on data from Future Market Insights, the Processed Cheese Market is anticipated to grow at a compound annual growth rate (CAGR) of 3.8% over the estimated forecast period. According to projections, the market value will rise from USD 15.9 billion in 2022 to USD 23.2 billion in 2032. At the end of 2021, the processed cheese market was estimated to be worth USD 15.5 billion. In 2022, Y-o-Y growth is projected to be 2.9%.
The processed cheese market has grown significantly in recent years due to a number of causes including convenience, shifting customer preferences, and the expansion of fast-food franchises. Because of its longer shelf life, simplicity of storage, and versatility in a variety of culinary uses, processed cheese is becoming more and more popular. The food industry is always growing and innovating to satisfy the demands of a wider range of consumers and profit from new trends in the food market.
The processed cheese market is anticipated to expand at a compound annual growth rate (CAGR) of 3.8% during the estimated forecast period, according to data from Future Market Insights. It is anticipated that the market value would rise, rising from USD 15.9 billion in 2022 to USD 23.2 billion in 2032. The processed cheese industry was valued at USD 15.5 billion at the end of 2021, and growth of 2.9% per year is predicted for 2022.
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For instance, there are many different kinds of cream cheese spreads, including Original, Aged Cheddar, Seriously Strawberry, and Very Veggie. The mild flavour and velvety texture of processed cheese make it a favourite among kids. Additionally, some younger consumers substitute dairy-free alternatives for real cheese.
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 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.
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.
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Segmentation of Processed Cheese Market
Segmentation by Form:
- Slices
- Blocks
- Cubes
- Spreads
- Shreds
- Other forms
Segmentation by Application:
- Pasta & Noodles
- Pizza
- Soups
- Sauces & Dressings
- Ready-to-eat Food Products
- Other Applications
Segmentation by End-user:
- Household/Retail
- Food Processing Industry
- HoReCa/Foodservice
Segmentation by Sales Channel:
- Online
- Offline
Segmentation by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa(MEA)
- RoW
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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