String Cheese Market to Witness over 7% CAGR During 2021 - 2031
As per the latest research completed by the Fact.MR, the market has experienced modest growth during the historical period of 2016-2020. In the forecasted period, the demand for string cheese is anticipated to demonstrate a rapid growth rate. The rapid increase in snacks and ready to eat food items consumption is expected to boost the sales in coming ten years.
What Are Driving Factors For String Cheese Market?
The main driving factor in the string cheese industry is rising in disposable income. The rising consumer disposable income is providing financial independence owing to which they avoid cooking food at home and order food from restaurants or consume cheese products to get full energy instantly.
Moreover, in developed nations, the maximum parents are working professionals who do not have time to cook food for their child or themselves in the morning owing to which they put cheese sticks in the bread and make the roll to pack it in the lunch. Hence, String cheese become a tradition that made its place in breakfast and lunch box which are consumed by children and youngsters.
String cheese is available in numerous flavour and tastes such as smoky, loud and Slightly sour, milky, a little tangy, a little salty which increase mesmerize the consumer’s taste buds and makes them satisfy. Owing to these, consumers are fond of it. In few parts of the globe, bodybuilder also consumes them get equal or more nutrition as compared to cooked food.
Consumers are becoming health conscious owing to which they are in the search of foods that are less in quantity and rich in nutritional value. These cheese products complete their demand and provide them with better results. The aforementioned factors are expected to boost the demand for string mozzarella cheese in the forecast period.
Furthermore, the fast-growing urbanization and changing consumer lifestyle is driving the demand for string cheese. The use of cheese products has been transformed in the last decades. For example, consumers have added cheese products in fast food items such as burgers, pizzas, etc. hence, people with different cuisine or taste buds have started adding string cheese in their foods. The growing fast adoption by people is rapidly driving the demand which is likely to boost in the forecasted era.
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What is Regional Outlook for String Cheese Market?
North American string cheese market projected to increase rapidly due to the fast-growing working population globally. The United States has gained the largest market share owing to the existence of small and big sized players which are regularly targeting consumer’s needs and satisfying them by doing strong research. Canada’s population is rising as consumers are coming from other nations such as the Philippines, India, and Vietnam etc. which likely to boost the market value in the forecasted period.
Moreover, the European string cheese market is mostly acquired by the industrialized countries for instance the United Kingdom, Germany, France and Italy etc. due to which market is having other countries to tap. Countries like Serbia, Sweden, Greece, Estonia etc. will produce huge revenue if it will be on the target list of producers.
The Asia Pacific is extremely rewarding as there are numerous countries such as China, India, which is evolving at a rapid pace. These countries are the devouring biggest populace which is offering a huge consumer base. Producers should target these regions by developing pocket-friendly string cheese products.
Consumer form countries like China, India, Vietnam etc. are having affection towards the western culture including cloths, food etc. owing to which sales of string cheese in growing which will show trajectory in the upcoming time. In addition, Middle East and African countries such South Africa, GCC countries are having latent opportunities which will generate millions of dollars if tapped.
How COVID-19 Does Impact The String Cheese Market?
The COVID-19 outbreak inflicted on regional and universal economies, disturbing almost all businesses and nations. Unpredictable circumstances, for example, halt in overall production and services, initiated a hindrance in the String Cheese industry. Despite having a radical effect on the global milk production market, these troubles are expected to be fleet and vanish as the industry recover.
Due to the COVID-19 outbreak, administrations around the world applied lockdown procedures, encouraging residents to be at home. Consequently of this state, the Cheeses products were highly necessary, which had a positive effect on demand, and demand for cheese products increase by double-digit CAGR in the lockdown period. However, demand is projected to increase in the coming years.
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Who Are The Key Manufacturers of String Cheese Market?
The string cheese market is fragmented, henceforth, the market comprises a large number of regional and global players at the market. Some of the important manufacturers and suppliers of String mozzarella Cheese include
- Baker Cheese Inc.
- Saputo Cheese USA Inc.
- Lactalis American Group Inc.
- Organic Valley
- Horizon Organics (Danone US, LLC)
- Sargento Foods Inc.
- Whole Foods Market IP. L.P.
- Kraft Heinz Company Brands LLC
- The Kroger Co.
- Amazon Brand - Happy Belly
- Kraft foods
- Schreiber Foods
- Kerry Foods Ltd
- Trader Joe's Organic and others.
Market players are dedicatedly working to acquire a significant share of the string cheese market, by using Inorganic and organic growth strategies. The foremost focus of key players is the innovation of new products with a new flavour, product launch, acquire new businesses, and expand distribution channels and their online sales.
- On 15th September 2020, Lactalis Group has announced the agreement to acquire Kraft Heinz’s Natural Cheese division owing to which company will be able to acquire a range of iconic, powerfully placed brands which comprise Breakstone’s, Cracker Barrel, Knudsen, Hoffman’s Polly-O, Athenos and, outer regions of North America.
Moreover, companies are expanding their contracts with suppliers, partnering with technologically advance and having a strong distribution network in the world.
- On 26th January 2021, DKSH and Kraft Heinz have extended their tactical partnership to embrace food services in Macau and Hong Kong.
String Cheese Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
Segmentation of String Cheese Market:
Companies are serving their product in different segment based of consumers taste and preferences. The global string cheese market is segregated based on its flavor, milk, packet size and sales channel and regions.
Based on Flavor:
Based on Milk:
Based on Packet Size:
- 1-12 Oz
- 12-24 Oz
- 24-60 Oz
Based on Sales Channel
- Retail Distribution
- Convenience Stores
- Food Service Outlets
- Food Processing Companies
- Retail Distribution
Based on geographic regions, string cheese market is segmented as follows:
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Oceania
- Australia and New Zealand (ANZ)
- Rest of South Asia & Oceania
- Middle East and Africa
- GCC Countries
- South Africa
- Other Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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