Cheddar Cheese Bags the ‘Top Spot’ over Processed Cheese Owing to its Versatility
Fact.MR’s recent study on the cheddar cheese market shows that the market is expected to grow at a CAGR of ~ 3% in the forecast period. The global market value for cheddar cheese is valued to be ~US$ 45 million in 2019. There has been a shift in consumer preferences towards different types of protein-rich foods that also promise healthy alternatives to daily food products.
Cheddar cheese is a versatile food product that has been used in the food industry in different applications. The bakery sector and food product companies are increasingly adopting cheddar cheese as a basic ingredient in most of the food preparations.
This has boosted demand for cheddar cheese in the global market. Growing utilization of cheddar cheese in various types of cuisines across the world is expected to lead to increased production of cheddar cheese in the food industry.
This has also led to increased consumption and production of cheddar cheese in the global cheddar cheese market. Further, growing consumer demand for cheddar cheese-based breakfast products is also expected to lead to a rise in the overall consumption of cheddar cheese in different breakfast products.
Cheddar cheese is considered a healthy, wholesome food with several nutritional attributes. Besides great taste and a significantly extended shelf life, cheddar cheese contains several rich nutrients that are essential to maintain the metabolism of the human body.
Moreover, the concentrated form of cheddar cheese is rich in high milk protein content, milk fats, minerals, and vitamins.
Protein content in cheddar cheese is what makes it the most demanded flavoring ingredient in different food products. Cheddar cheese also contains high quantities of phosphorus and calcium compounds that are essential to maintain human bone health.
Besides these, micronutrients such as fat-soluble and water-soluble vitamins present in cheddar cheese also add to its value as a health booster, leading to rising utilization in several food products either as a supporting ingredient or as a flavoring agent.
Cheddar cheese concentrate is available in either paste or powder form and can easily blend with other ingredients while producing various food products such as sauces, dips, snacks, breads, and cakes.
This has led to the application of cheddar cheese concentrate in a variety of food items such as products made from processed cheddar cheese; different types of cheddar cheese-based sauces; bakery items such as breadsticks, flavored breads, cheddar cheese croissants, and cheddar cheese crackers; ready-to-eat food products such as noodles and pastas, macaroni, and risotto; savory snacks such as cheddar cheese puffs, cheddar cheese crispies, cheddar cheese popcorn, and cheddar cheese nachos; different types of dressings for a variety of salads; flavored dips; and other low fat food products.
These multiple applications of cheddar cheese have increased its consumption significantly, thereby leading to an increase in global production.
The trend of introducing dairy and gluten-free alternatives to certain food products have caught on in the food industry across the globe. Consumers with lactose intolerance prefer non-dairy alternatives to milk and milk-based products, including cheddar cheese. Manufacturers of food products are replacing dairy products such as cheddar cheese and yogurt with plant-based products.
Cheddar cheese derived from plants is replacing traditional milk-derived cheddar cheese. This has restricted the use of cheddar cheese in products that use cheddar cheese as a basic ingredient and also as a flavoring agent.
Considering the steady increase in the worldwide lactose intolerant population, it is anticipated that plant-based products might slowly obliterate dairy products from certain food items. This is likely to have an adverse impact on the demand and consumption and subsequently the production of cheddar cheese.
Increasing Demand for Cheddar Cheese-based Snacks and Food Products to Boost the Production of Cheddar Cheese
Population across the globe are looking for ready-to-eat and easy-to-make food, owing to a constantly changing lifestyle and deficiency of time in preparing elegant meals. This phenomenon is mainly increasing the consumption of ready-to-eat food and savory snacks products, which further boosts the demand for cheddar cheese to a greater extent.
Globally, cheese is a favorite type of ingredient in numerous food products and cheddar cheese snacks serve as a nutritious, quick, and easily available fast-food option primarily among the working population.
The use of cheddar cheese in the production of ready-to-eat food items as well as savory cheddar cheese snacks has increased considerably owing to the easy blending of cheddar cheese among other ingredients used in the preparation of these products.
This has led to an increased demand for cheddar cheese, especially in the bakery and ready-to-eat food products sectors.
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The Trend of High Protein Diets and Functional Snacks to Present Manufacturers with Lucrative Opportunities
Consumers across the globe are becoming more aware regarding their diet & health, and are significantly changing their diet plans to adopt a diet that is rich in nutrients and protein. As a result, manufacturers of cheddar cheese are attempting to make their portfolio more nutritious, following the recent growing protein trend in the food industry.
Rising consumer mindfulness regarding newer approaches towards weight reduction, anti-aging, and other wellness related issues through the utilization of normally sourced protein is convincing numerous manufacturers to offer protein-fortified products with numerous health benefits.
This trend is expected to gain traction in the coming years and compel manufacturers to upgrade the quality of their products to cater to the needs of consumers.
Gourmet Cheddar Cheese: A Winning Growth Formula for the Cheddar Cheese Market
Manufacturers are continuously experimenting with food to provide better and best quality to consumers. Moreover, the trend of fine, gourmet cuisine, and luxury culinary items has inspired manufacturers to innovate their products in order to cater to the taste preferences of consumers.
As a result, research and development conducted by prominent manufacturers are expected to trigger mass demand for cheddar cheese, especially in hotels, restaurants, and cafes.
Growth in the demand for artisanal and gourmet cheddar cheese products is a key factor for the excellent health of the cheddar cheese market in the long run.
The expansion of online and retail stores resulting in the easy availability of cheddar cheese products, is further anticipated to create lucrative growth opportunities for manufacturers in the coming years.
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Adoption of Healthier Lifestyles to Negatively Impact the Demand for Cheddar Cheese
With the hectic and sedentary lifestyle of the urban population across the world becoming omnipresent, the worries of consumers regarding their wellbeing and health is increasing.
Hectic lifestyles have taking away the time for exercise, thus urging consumers to opt for healthier food items.
As a result, several consumers are avoiding the consumption of junk food. The demand for cheddar cheese is likely to decrease even though it is a low-fat alternative to cheddar cheese. People prefer nuts and dried fruits for snacks, thereby reducing the demand for products that incorporate cheddar cheese.
Consumer’s preference for a vegan diet has also increased the overall consumption of dairy products as vegan consumers prefer soy products. Exceptional traction of this trend has considerably impacted the dairy industry, thus inhibiting the growth of the cheddar cheese market.
Intense Competition between Top Players Paves the Way for Better Quality
In the cheddar cheese market, prominent manufacturers are focused on increasing their production capacity and improving quality of their products.
Companies are also collaborating with local dairy farmers for constant supply of milk and to offer innovative solutions to dairy farmers. Some companies in the cheddar cheese market are focused on developing advanced dairy processing plants.
For instance, in September 2019, Arla Foods will scale up its commitment to develop a sustainable dairy sector in Nigeria.
In June 2019, Sargento Foods Inc. received two honors for product innovation from American Business Awards and Food Processing magazine.
In July 2019, Arla Foods agreed to a new brand license for Middle East cheese business with Kraft Heinz.
In May 2019, Almarai Company announced the completion of the acquisition of 100% shares in Premier Foods LLC.
In April 2019, Sargento Foods Inc. launched a new ‘Reserve Serie’ for its cheese products.
In March 2019, FrieslandCampina explored new options to build a sustainable dairy processing plant in Netherlands.
In January 2018, Savencia SA acquired OAO BELEBEY, a manufacturer of pressed cheeses in Russia.
In May 2018, the company announced the acquisition of Rogue Creamery, which is an artisan cheese company.
In May 2017, Schneider Electric announced that Almarai expanded its Schneider Electric deployment as part of a Smart Manufacturing initiative by deploying Line Performance Suite.
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Modern Trade - Most Popular Sales Channel in the Cheddar Cheese Market
Among various sales channels of the cheddar cheese market modern trade sector has relatively more shares than other sales channels, which is likely to grow at a moderate growth rate during the forecast period, however the online retail sector shows lucrative growth rate during the forecast period in cheddar cheese market by the end of 2029.
Currently, the cheddar cheese market is dominated by Europe, but in the forecast period APEJ is likely to create profitable opportunity for manufactures.
Global Cheddar Cheese Market: Segmentation
Segmentation table of the global cheddar cheese market has been provided below on the basis of product, application, sales channel, source, and region.
Global Cheddar Cheese Market – Scope of the Report
The cheddar cheese market is anticipated to observe a moderate growth in the forecast period 2019 to 2029, according to the Fact.MR study. The study propounds key trends that are currently shaping the growth of the cheddar cheese market.
This newly published and insightful report sheds light on key dynamics, which are expected to transform the future of the cheddar cheese market, in turn, creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of cheddar cheese.
The cheddar cheese market study is sinuous market intelligence on key revenue growth drivers, challenges, industry trends, and opportunities, which will eventually influence the growth trajectory of the cheddar cheese market.
The report initially imparts an overview of the cheddar cheese market, considering current and future prospects in the growth, to unveil attractive facets appertaining to the adoption of cheddar cheese across key regional markets.
An in-depth assessment on few of the cheddar cheese manufacturers offered in the report enables the report readers to gain detailed insights that are derived from cheddar cheese manufacturers across regional markets incorporated in the report.
A list of key companies operating in the cheddar cheese market provided in the report adds to the credibility of this exhaustive research study.
Global Cheddar Cheese Market: Opportunity Analysis
The study offers a detailed study on different factors influencing demand, sales, and revenue generation in the cheddar cheese market around the world.
The opportunity analysis included in the report is beneficial for readers to better understand opportunities in the cheddar cheese market, which will, in turn, trigger the adoption of cheddar cheese.
An elaborated cost structure analysis provides the report with an innate completeness, and analysis offered on the cost structure involves all the regional markets incorporated.
A detailed forecast on the global cheddar cheese market has also been offered by experts, who have categorized the market forecasts into a likely scenario, a conservative scenario, and an optimistic scenario regarding adoption and involvement of the global cheddar cheese market across the forecast period.
Analysis and assessment of price point by region has also been included in this study. The study also exerts details on aspects impacting strategies of manufacturers within the global cheddar cheese market.
Global Cheddar Cheese Market: Analysis on Market Size Evaluation
Market valuation at global and regional scale for the global cheddar cheese market is offered in terms of “US$ Mn.” A Y-o-Y growth comparison on the key cheddar cheese market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on cheddar cheese consumption across several regions where cheddar cheese witnesses a growing demand.
Global Cheddar Cheese Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the global cheddar cheese market, which impart a forecast on the regional markets recognizing the regional macros (business, economic and political environment outlook), which are expected to have an impact on the growth on the global cheddar cheese market in the near future.
Country-specific assessment on the demand for cheddar cheese has also been provided for each regional market, along with the market size valuation, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Global Cheddar Cheese Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competition landscape considering up-to-date and essential developments related to the market players, who predominantly engage in the production and distribution of cheddar cheese along with a comprehensive SWOT analysis on each player identified together with the company strategies, identification, and analysis.
Market share comparison and analysis of these market players offered in the report enables the reader to devise strategies for their businesses.
The intensity mapping of the market players operating in the global cheddar cheese market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining the competition levels in the global cheddar cheese market.
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