Processed Cheese Market
Processed Cheese Market Size, Share & Analysis by Cheese Type (Blue Cheese, Brick Cheese, Camembert Cheese, Cheddar Cheese, Cottage Cheese), by Form (Cheese Blocks, Cheese Slice, Cheese Spread, Cheese Spray), by Milk Source, by Distribution & Regional Forecast 2019-2029
Processed Cheese Market Outlook:
The processed cheese market has seen a historical CAGR of nearly 2.1% in emerging markets and reached a value pool of US$ 24 billion in 2029. The global processed cheese market is poised to expand positively at a CAGR of over 4.4% during the forecast period (2020-2029).
High growth in the number of food service chains have played a key role in the demand for processed cheese. Presently, market is witnessing a decline with people resorting to social isolation in the midst of the 2020 Covid-19 outbreak. Despite the impact of Covid-19, processed cheese products are able to reach food service restaurants as most chains are closely working with food supply companies for seamless deliveries and operations. This has kept market for processed cheese afloat.
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Processed Cheese Market Share Analysis by Application:
Processed cheese is available in several forms such as shredded, cheese spread and blocks. These are being cleverly combined with other ingredients to create different food items such as sauces, spreads, snacks, breads and cakes.
This has resulted in varied applications of processed cheese with a market share of over 40% in 2020. Products made from processed cheese which have soared on popularity include various types of cheese-based sauces; bakery goods such as breadsticks, sweet breads, cheese croissants and cheese crackers.
Consumers all over are getting aligned towards ready-to-eat and easy-to-make food items and substitutes owing to the fast-paced lifestyle and lack of time to prepare food of their choice. These factors have resulted in increased consumption of savory snacks and ready-to-eat foods, thus augmenting demand for processed cheese.
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Processed Cheese Market Regional Insights:
Europe is set to remain in the lead processed cheese, accounting for more than 40% of the global market's revenue share in 2019. In the European Union, around 15% of animal farms are sheep farms, where the average number of sheep per farm is over 120, with numbers steadily increasing. An increase in sheep rearing has bolstered the supply of milk, ultimately leading to an uptick in production of cheese and whey. While Spain and France having increased their sheep and goat milk production significantly in the recent past, U.K. remains one of the largest sheep and goat milk producers in Europe.
Processed Cheese Market Competition Insights:
The global market for processed cheese is fragmented in nature with major competitors such as Mondelez International, Fonterra, Le Groupe Bel Arla Foods and Lactalis having an extensive global dairy business network. These companies concentrate primarily on diversifying their product range to draw in more customers to processed cheese and add more items appropriate for different age groups.
Moreover, owing to the integrated functioning of dairy companies and cooperatives, processed cheese markets have a stable supply chain. Several dairy cooperatives who have expanded their operations to a multitude of dairy based products including processed cheese, are decisively planning the allocation of milk for production of various cheese related products.
COVID-19 Market Insights:
Taking into consideration the effect of COVID-19 on Europe and the world, the processed cheese market is taking necessary steps to respond to the situation. The processed cheese market is streamlining its business procedures and operating protocols to align production, shipping and logistics activities with this emergency.
In 2020, the market demand is expected to fall by almost 1/3rd during the first two quarters, owing to shut down of cheese processing plants and decreasing demand from foodservice and retail. Under the optimistic scenario, the market is expected to recover soon from the third quarter onwards, owing to the sudden reopening of foodservices operation.
However, under the probabilistic scenario, sluggishness in growth is set to prevail up to the third quarter. Under the pessimistic scenario, the market will be impacted in all four quarters. However, growth is expected to rebound once the pandemic abates, albeit slowly as production of raw-materials needs to resume.
Although processed cheese is a small part of total cheese production worldwide, rising fast-food consumption has played a major role in increasing demand for processed cheese and will continue in the near future. A major factor augmenting the demand for processed cheese is the economic positioning of processed cheese. Being affordable, more often than not, consumers choose processed cheese as the go-to cheese product for home cooking purposes.
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Global Processed Cheese Market: Scope of the Report:
The recent global processed cheese market report by fact.mr offers forecast representation from 2020 to 2029. The report elaborates on key drivers, restraints, opportunities and threats towards expansion of the global processed cheese market. A detailed segmental analysis, based on application, formulation, end use, sales type and region has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global processed cheese market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and strategies for expansion in the processed cheese market.
Processed Cheese Market: Segmentation
FactMR’s study has done the segmentation of processed cheese market on the basis of cheese types, form, milk source, end use and distribution across seven regions.
By Cheese Type :
- Blue Cheese
- Brick Cheese
- Camembert Cheese
- Cheddar Cheese
- Cottage Cheese
- Cream Cheese
- Mozerella Cheese
- Romano Cheese
- Swiss Cheese
- Other Processed Cheese
By Form :
- Cheese Blocks
- Cheese Slice
- Cheese Spread
- Cheese Spray
By Milk Source :
- Cattle Milk
- Goat Milk
- Sheep Milk
By End Use :
- Retail / Household
- F&B Processors
- Snacks Manufacturers
- Bakery and Confectionery Product Manufacturers
- Sauces and Condiment Manufacturers
- Ready Meal Manufacturers
- Packaged Food Manufacturers
- Other F&B Processors
By Distribution :
- Direct Sales (B2B)
- Hypermarkets and Supermarkets
- Club Stores
- Grocery Retailers
- Convenience Stores
- Online Stores
By Regions :
- North America
- Latin America
- East Asia
- South Asia