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I AgreeAnalysis of String Cheese market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worldwide consumption of string cheese is valued at US$ 4 billion in 2022, having registered Y-o-Y growth of 5.2%. Going ahead, the global string cheese market is projected to expand at a healthy CAGR of 5.9% reaching the valuation of US$ 7.1 billion over the 2022-2032 assessment period. The United States accounts for more than 40% increase in revenue.
String cheese is recognized as a rich source of protein, vitamin B12, and vitamin K2, making it an ideal snack for health-conscious consumers. It also contains significant amounts of calcium and selenium that enhance bone and immune health.
Report Attributes |
Details |
---|---|
String Cheese Market Size (2021A) |
US$ 4 Billion |
Estimated Market Value (2022E) |
US$ 4.2 Billion |
Forecasted Market Value (2032F) |
US$ 7.1 Billion |
Global Market Growth Rate (2022-2032) |
~5.9% CAGR |
North America Market Share (2021) |
~59.4% |
North America Growth Rate (2022-2032) |
~5.4% CAGR |
U.S. Market Growth Rate (2022-2032) |
~5.3% CAGR |
Market Share of Top 5 Companies |
~14.5% |
Key Companies Profiled |
|
Owing to the nutrient profile, string cheese is not only a filling snack but also boosts heart health, brain health, and overall metabolism. The advantage of taste with health benefits is expected to drive the growth of the string cheese market over the coming years.
Fact.MR predicts that the global market for string cheese will reach a valuation of US$ 7.1 billion by the end of 2032.
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Cheese has become a staple ingredient in most of our food items, including snacks and salads. String cheese, specifically, has gained immense popularity as a fun snack among children. This has guided a compound annual growth of 3.2% in string cheese sales over the 2017-2021 period.
Over the coming years, this is how the market is expected to progress…
During the years 2017-2021, the global string cheese market registered a CAGR of 3.2%, and according to Fact.MR, a market research and competitive intelligence provider, the market is projected to witness growth at 5.9% CAGR between 2022 and 2032.
Market share analysis of product type, source, and region is provided in a nutshell in the above image. Under the product type segment, natural string cheese dominated the market in 2021 with 52.4% market share.
“String Cheese – Healthy & Fun On-the-go Snack Option”
String cheese has been popular among kids since its emergence. Because of its stringy texture, it's fun to chew and play with. Adults, on the other hand, prefer it as an on-the-go snack. Individually packaged string sticks can be carried to classrooms, work desks, and other locations, and they can satisfy mid-meal hunger without creating a mess.
Furthermore, to increase string cheese's popularity among youngsters, manufacturers are focusing on customized flavors and attractive packaging for kids.
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“Full-milk-derived String Cheese – Bad for the Heart”
Full-fat string cheese has huge amounts of saturated fats and some cholesterol, in addition to all of the vital vitamins and minerals. Milk includes 70% saturated fats, 25% monounsaturated fats, and 5% polyunsaturated fats by composition.
Increased intake of full-milk-derived string cheese has been linked to an increase in LDL cholesterol and a higher risk of cardiovascular disease. String cheese also contains high levels of sodium, which can have significant health consequences.
All these health disadvantages can have a strong negative hold on the global string cheese business.
“Germany, France, and the U.K. – Leading Markets in Europe”
The Europe string cheese market is estimated to surpass US$ 1.7 billion by 2032. Germany, France, and the U.K. are expected to be key contributors to the European string cheese market growth.
Germany is estimated to account for more than 18% of the regional market share in 2022, whereas, France and the U.K. will ascribe 13.9% and 15.1% of the regional market share, respectively.
Twisted string cheese sticks are gaining popularity in the U.K. while flavours such as smoked string cheese and marinated string cheese are catalyzing market growth in other European countries. Chechil, unconventional string cheese, dominates the string cheese demand graph in Armenia.
“U.S. String Cheese Market to Dominate Both, North America and World”
The U.S. is one of the leading consumers of string cheese. It is set to account for more than 80% of North American string cheese consumption and 46.5% of global string cheese demand in 2022.
Inclination towards a healthy lifestyle and high per capita disposable income are two key drivers of string cheese demand in the country. The dominance of the U.S. in the global string cheese market is also guided by the concentrated presence of key manufacturers in the country.
“Market Dominated by Natural String Cheese”
Natural string cheese accounts for more than 50% of the global string cheese market share by product type.
Demand for flavored string cheese, on the other hand, is projected to grow the fastest over the forecast period. The prime reason for this is increased retail consumption of string cheese mainly as a sole snack rather than an ingredient.
Flavored string cheese is significantly appealing to naïve consumers. Under the influence of this, cheddar flavored string cheese and smoked string cheese will be the most opportunistic segments for string cheese producers, going forward.
“Retail Sales of String Cheese to Remain Prominent”
Increasing retail consumption has driven the sales of string cheese over the historical period, and the trend is expected to continue over the forecast period as well.
The use of string cheese as a pizza topping and crust stuffing has seen a notable increase in recent times. This will drive the use of string cheese in food processing industries, thereby directing the growth of commercial end users at a CAGR of 6.2% over the assessment period.
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The global string cheese market is fairly fragmented with several string cheese manufacturers struggling to secure dominance. Both organic and inorganic growth tactics have been used by market players for expansion.
Acquisitions have aided frontrunners with well-researched products and an established consumer base. Expanding production facilities is another go-to strategy for major manufacturers. Supplementing sales under the influence of various labels such as organic, low-fat, etc., is paving the way for global market leaders.
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The global string cheese market is valued at US$ 4 billion and is anticipated to surpass US$ 7.1 Billion by 2032-end.
Global string cheese consumption increased at 3.2% CAGR between 2017 and 2021.
Prominent string cheese suppliers are Kraft Heinz Company, Lactalis (Galbani), Leprino foods company, Saputo (Frigo), Dairy Farmers of America Inc. (Borden), Bega Cheese, Danone (Horizon Organic), and Baker Cheese Inc.
North America leads the global string cheese market accounting for 59.1% market share in 2022.
Offline sales of string cheese account for 72% market share.