Rockville, Oct. 25, 2022 (GLOBE NEWSWIRE) -- During the forecast period 2022-2032, the cheddar cheese market is expected to grow at a value of 3.5% CAGR, according to Fact.MR. By the year 2032, the global market for cheddar cheese is expected to rise to a market valuation of US$ 86.5 Million. Cheddar cheese is a versatile product that has been used in a number of culinary applications. Thanks to the bread business and food product makers, cheddar cheese is becoming a standard ingredient in most meal preparations. Cheddar cheese is thus more popular on the global market.
In addition, a rise in the demand from consumers for breakfast products produced with cheddar cheese is predicted to lead to an increase in the use of cheddar cheese in various morning goods. Cheddar cheese is recognized as a wholesome, healthy food that is rich in nutrients.
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However, as hectic and unproductive lifestyles of the urban population across the world becomes the norm, consumer worries about their health and well-being are increasing. Customers are urged to select healthier food alternatives due to their hectic schedules. As a result, many consumers are consuming less fast food. The market for it is anticipated to shrink even though it offers a low-fat substitute for cheddar cheese. The market for products containing cheddar cheese has shrunk due to the growing popularity of nuts and dried fruits as snacks.
Key Takeaways from the Market Study
- In 2022, the global cheddar cheese market is estimated to have a global market size of US$ 61 Million
- In 2022, the cubes segment by demography is expected to occupy a 65% market share and is expected to dominate the global market during 2022-2032.
- The specialty stores sales channel segment is projected to hold a global market share of 30% in 2022
- The US market is predicted to acquire 45% of the global market share in 2022 and grow with a 3.7% CAGR during 2022-2032.
- The Chinese region is forecast to have a CAGR of 4% over the projection period of 2022- 2032.
“The cheddar cheese market is significantly impacted by the expanding fast food and convenience sectors as well as new products provided by cheddar cheese manufacturers. Due to the changing lifestyles of the world's population, the fast food industry is growing quickly and in turn propelling the cheddar cheese demand globally. ” comments a Fact.MR analyst.
Competitive Landscape
Several well-known cheddar cheese makers are focusing on increasing their output and improving the quality of their products. Companies collaborate with surrounding dairy farmers to give them a consistent milk supply and innovative solutions. Some cheddar cheese producers are focusing on building state-of-the-art dairy processing plants.
- In 2021, Arla Foods announced its new five-year plan in an effort to underscore its dedication to advancing sustainable dairy production and expanding its business in a sustainable manner. Arla is prepared to raise its investment potential by more than 40% to 4+ billion EUR during the next five years, with a focus on environmental sustainability, digitalization, new industrial technologies, and design and development of the product.
- For its product innovation, Sargento Foods Inc. earned two prizes in 2019 from Food Processing magazine and the American Business Awards. Food Processing recognised the Sargento innovation team the Research and Development Team of the Year for the big firm category.
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Prominent Players in The Global Market
- Arla Foods Amba
- Savencia SA
- Fonterra Co-operative Group Limited
- Koninklijke Friesland Campina N.V
- Groupe Lactalis S.A
- Almarai - Joint Stock Company
- Associated Milk Producers, Inc.
- Mondelez International, Inc.
- Sargento Foods Inc.
- Gujarat Cooperative Milk Marketing Federation Ltd.
- Somerdale International Ltd
- Rumiano Cheese
- Door Artisan Cheese Co.
- Amish Country Cheese
- AGROPUR CHEESE
Cheddar Cheese Cubes are in Great Demand
The cube category is anticipated to dominate the global cheddar cheese market in 2022 and is probably going to continue doing so for the duration of the projection. By 2022, the category is anticipated to increase its global market share to 65%.
This expansion is due to its accessibility and simplicity of transportation in significant quantities. Cheddar cheese cubes are a great source of calcium, one of the most important nutrients for strong bones. A diet rich in calcium lowers the risk of osteoporosis in individuals. Cheddar cheese cubes also include vitamin K, which is crucial for the health of the bones. These are the primary benefits that are projected to drive this market segment's growth between 2022 and 2032.
Key Segments Covered in the Cheddar Cheese Market Report
- By Product :
- Blocks
- Cubes
- Slice
- Spread
- Spray
- By Source :
- Cattle Milk
- Goat Milk
- Sheep Milk
- By Application :
- Processed Cheese
- Snacks & Savory
- Bakery & Confectionery
- Sauces, Dressings, Dips, And Condiments
- Ready Meals
- Other Applications
- By Sales Channel :
- HoReCa
- Modern Trade
- Specialty Stores
- Departmental Stores
- Convenience Stores
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East Africa
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global cheddar cheese market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on cheddar cheese market analysis by cheddar cheese market report by product (blocks, cubes, slice, spread, spray), by source (cattle milk, goat milk, sheep milk), by application (processed cheese, snacks & savory, bakery & confectionery, sauces, dressings, dips, and condiments, ready meals, other applications), by sales channel (HoReCa, modern trade, specialty stores, departmental stores, convenience stores) and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
About the Foods and Beverages at Fact.MR
The foods and beverages team at Fact.MR offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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