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Parmesan Cheese Market

Parmesan Cheese Market Size, Share, Forecast Analysis, By Product Type (Processed, Unprocessed), By Application (Bakery & Confectionery, Snacks & Cereals, Ready Meals, Sweet & Savory Snacks, Sauces, Dressings, Dips, Other), By Region – Global Market Insights 2022 to 2032

Parmesan Cheese Market Outlook (2022-2032)

The valuation of the global parmesan cheese market is US$ 16.7 billion in 2022. Worldwide sales of parmesan cheese are estimated to increase to a value of US$ 22.1 billion by 2032-end, increasing at a CAGR of 2.8% between 2022 and 2032.

Parmesan cheese generally refers to hard and granular cheese that is produced from cow milk. This cheese is considered a rich source of protein and fat, which makes it more suitable for people who lack these nutrients. In addition, copper, vitamins B6 and B12, zinc, phosphorus, vitamin A, and calcium are some vital content that is present in parmesan cheese.

Changing lifestyles of consumers in developing regions of the world, such as Latin America and Asia Pacific, have resulted in increasing affinity towards dairy, bakery, and other such food products. Further, the dairy industry is likely to come up with a growing count of innovative food products to cater to this rising consumer demand.

Parmesan cheese originated in Northern Italy and is likely to gain popularity around the world. Parmesan cheese powder and blue cheese powder are experiencing increased consumer demand in recent years. The authentic flavors and fresh and natural ingredients of parmesan cheese are also predicted to attract a larger consumer base in the global market.

In recent years, there is a significant increase in the demand for parmesan cheese as consumers look for high-quality dressings, soups, and sauces for better ethnic appearance, texture, and cheesy taste due to rising cheese cultures.

Moreover, parmesan cheese is being used at an increased rate in the grated form for soups, risotto, and pasta for garnishing purposes. Shredded Italian blend, shaved parmesan, shaved Italian blend, sharp fancy shredded parmesan, savory, nutty, and fruity are some popular flavors of parmesan cheese that are gaining popularity in the global market.

Report Attributes

Details

Parmesan Cheese Market Size (2022)

US$ 16.7 Billion

Estimated Market Value (2032)

US$ 22.1 Billion

Global Market Growth Rate (2022-2032)

2.8% CAGR

Projected Market CAGR for Germany (2032)

2.5%

Key Companies Profiled

  • Aar Kay Food Products Ltd.
  • Saputo Inc.
  • BelGioioso Cheese Inc.
  • Organic Valley
  • Kerry Group PLC
  • The Kraft Heinz Company
  • Panos Brands LLC

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Why are Sales Opportunities in the Parmesan Cheese Market Increasing?

“Rising Consumer Spending on Functional & Healthy Food Products”

Consumers around the world are becoming more aware related to the health advantages of parmesan cheese which are further predicted to stimulate its sales. Parmesan cheese is a type of ready-to-use fat. Easy digestibility is one significant characteristic of this cheese.

This cheese is highly nutritious as it contains protein and calcium that support the health of human bones. The prolonged shelf life is likely to support the growth of the market in the coming years. An unopened whole block of parmesan cheese has a life of seven to nine months if it is kept in the refrigerator. On the other hand, a whole opened block of the same cheese can last one to two months.

People are consuming food products in which cheese is used as a noticeable ingredient. Moreover, premium food products, such as cheese are gaining importance owing to a significant increase in disposable income of people.

Rising health consciousness of consumers in the current era is also propelling demand for parmesan cheese. People, at present time, are more aware related to different types of lifestyle diseases and the reasons that are responsible for these healthcare issues. These reasons have triggered people to invest in premium quality food products, for instance, parmesan cheese.

The FDA (Food and Drug Administration) in the United States stated that any type of cheese that comes with the same chemical and physical properties as parmesan might be labeled as Parmesan, irrespective of its manufacturing location. This initiative is predicted to create a lot of business opportunities for players who are operating in local areas.

“Increasing Demand for Convenience and Fast Food Due to Busy Lifestyles”

The market for parmesan cheese is growing at a noticeable speed with rising demand for convenience & fast food in recent years. This shift in consumer demands is attributed to rapid changes in the lifestyle of people around the world.

An individual spends a significant amount of their life completing professional tasks so they tend to invest lesser time in cooking activities and give preference to processed and packaged food products. Thus, there arises a demand for parmesan cheese as it is used as a significant ingredient in processed food to enhance mouthfeel. The manufacturers of the parmesan cheese market are also offering different products to match consumers’ requirements.

Furthermore, people around the world are inclined to use ready-to-eat meals. So, they adopt parmesan cheese at a significant rate to enhance flavors. Thus these factors are further estimated to spur sales opportunities in the global market.

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What Can Restrict the Adoption of Parmesan Cheese?

“Growing Consumer Awareness about Harmful-effects of Cheese”

People in recent years are becoming more aware of the adverse effects of cheese that are likely to pose a restraint to the growth opportunities of the cheese market. Heart diseases, high cholesterol levels, and obesity are some major conditions that are related to the consumption of processed cheese.

Emulsifiers, preservatives, rennet, and some other chemical agents are used to produce cheese and these agents can put ill effects on the human body. Further, dairy products, such as cheese, are a noticeable source of saturated fat that is found in the average American diet. This saturated fat is likely to raise the level of harmful LDL cholesterol that can increase the risk of heart disease.

“Regulatory Influence Impacting Adoption of Parmesan Cheese”

The stringent regulatory legislations related to cheese production are expected to serve as challenging factors to impact growth avenues in the market. The rising demand for listing ingredient names that are used in products, accurate labeling, and specifying the details of the related ingredients is on the rise due to increasing health concerns among individuals.

Adhering to these regulations of labeling can increase the cost of labeling and packaging which in turn affects the overall price of the end products. It can lead to reduced adoption of the products by consumers.

Parmesan cheese market forecast by Fact.MR

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How Lucrative is the Industry of Parmesan Cheese for New Businesses?

“New Market Entrants Should Focus on Product Innovation to Gain Competitive Edge”

People around the world give preference to packaged food products due to their hectic schedules. Parmesan cheese is used in these products with the purpose of taste enhancements. So, there arises a crucial requirement for new entrants to produce innovative products that attract new consumers to the industry.

For instance,

  • BelGioioso Cheese, Inc. in January 2020 announced the launching of its newest addition to its line of cheese snacks. These wrapped portions of BelGioisoso American contain parmesan cheese. Further, the company claimed that the cheese used in this snack is a portion of huge 65-pound wheels that are of 18-month shelf-life on wooden shelves.

Which Regional Market Accounts for Most Sales of Parmesan Cheese?

“Europe to Remain Leading Market for Parmesan Cheese Producers”

Europe holds the biggest share of the global market owing to the rising use of parmesan cheese by the consumer for grating. This is served in chunks with fresh fruits or sometimes with vinegar. The regional population spends a noticeable amount of money on high-end food products that include parmesan cheese because of increasing consumer knowledge about them.

The original parmesan cheese (Parmigiano-Reggiano) is manufactured within the strictly delineated area in Italy that includes Modena, the towns of Parma, Mantua, and some parts of Bologna. This factor ensures the easy availability of this cheese for the regional population.

The Asia Pacific region is also predicted to grow at a noticeable speed in the global market. Increased demand for ready-to-eat meals and the presence of various fast food chains in emerging economies like India is estimated to put a positive impact on market growth.

Country-wise Insights

Which European Country is Anticipated to Lead the Market?

“Italy - Major Manufacturer of Parmesan Cheese

Europe holds a noticeable position in the market for parmesan cheese as the industry players from the region play a vital role in the manufacturing of cheese. Parmesan cheese is manufactured in the areas of Italy to ensure ample availability of the product across the region.

Good nutritional values, high quality, and excellent taste are some key features of cheese that are produced in regional countries. Italy produced around 163.7 thousand tons of parmesan cheese by 2021.

Further, the market of Germany is estimated to expand at a CAGR of 2.5% through 2032.

Which Asian Country is a Noticeable Parmesan Cheese Industry?

“Increasing Demand for Parmesan Cheese in Japan

The Asia Pacific market is anticipated to grow at a significant speed in the coming years due to the growing consumer inclination for ready-to-eat meals in recent years.

Japan is expected to bolster demand for parmesan cheese in the coming ten years. The rising sales for cheese are also owing to the increasing count of cheese manufacturers across the region that is catering to the requirements of consumers. Further, the market of Japan is predicted to progress at a CAGR of 2% through 2032.

Further, the market of South Korea is likely to grow at a noteworthy speed due to rising consumer inclination for the products that contain cheese.

Category-wise Insights

Why is Processed Cheese Gaining Popularity in the Global Market?

“Growing Consumer Preference for Processed Cheese Due to Longer Shelf Life”

Based on product, the market is divided into processed and unprocessed cheese. Between these two, processed cheese is gaining traction in the present time owing to its longer shelf life and uniform look. Consumers can use processed cheese for a longer duration due to its easy storage in the refrigerator.

Why Do Consumers Prefer Using Parmesan Cheese in Sweet & Savory Snacks?

“Rapid Growth of Fast Food Industry Promoting Use of Cheese Powder in Sweet & Savory Snacks“

Cheese powder is used at an increased rate in sweet & savory snacks to provide a rich mouthfeel experience to consumers. Cheese powder is commonly used in chips, puffed snacks, popcorn, Nachos, and Mozzarella sticks. McCain, Burritos, and Cheetos are some popular brands that contain cheese powder in their products.

Cheese powder ensures a better taste compared to other flavors and ensures convenience in the application process. Consumers in recent years are more inclined to opt for on-the-go products and fast food which is further estimated to propel the sales of cheese.

Competitive Landscape

Some of the noticeable initiatives that are taken by industry players are as follows:

  • Stella Cheese, in January 2022, announced that the brand is returning to its roots for the reintroduction of two beloved classics which stood against the test of time: Grana Padano and PDO-certified Parmigiano Reggiano cheeses. These products are imported from northern Italy.

Key manufacturers of parmesan cheese include Aar Kay Food Products Ltd., Saputo Inc., BelGioioso Cheese Inc., Organic Valley, Kerry Group PLC, The Kraft Heinz Company, and Panos Brands LLC.

Segmentation of Parmesan Cheese Industry Research

  • By Product:

    • Processed
    • Unprocessed
  • By Application:

    • Bakery & Confectionery
    • Snacks & Cereals
    • Ready Meals
    • Sweet & Savory Snacks
    • Sauces, Dressings, Dips, and Condiments
    • Other Applications
  • By Region:

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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The parmesan cheese industry is anticipated to reach a valuation of US$ 22.1 billion by 2032.

Consumption of parmesan cheese in Germany is predicted to increase at a CAGR of 2.5% through 2032.

The global market for parmesan cheese is estimated to expand at a CAGR of 2.8% through 2032.

Key suppliers of parmesan cheese include Aar Kay Food Products Ltd., Saputo Inc., BelGioioso Cheese Inc., Organic Valley, Kerry Group PLC, The Kraft Heinz Company, and Panos Brands LLC.

The global parmesan cheese market is valued at US$ 16.7 billion in 2022.

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