Global Market for Parmesan Cheese
Dublin, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The "Parmesan Cheese - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Parmesan Cheese Market to Reach $18.4 Billion by 2026
The global market for Parmesan Cheese estimated at US$16.4 Billion in the year 2022, is projected to reach a revised size of US$18.4 Billion by 2026, growing at a CAGR of 2.7% over the analysis period.
The market is receiving a major growth stimulus from rising demand for cheese and associated products propelled by confluence of a number of favourable factors such as rising consumer demand for fast food and convenience foods along with changing lifestyles and diverse product offerings. Parmesan cheese is garnering notable attention from consumers due to its natural and fresh ingredients coupled with authentic flavors.
The market is driven by increasing uptake of parmesan cheese among people seeking ready-to-eat meals offering specific cheese flavors. Parmesan cheese is broadly used in sweet and savory snacks, with the market receiving strong impetus from considerable growth exhibited by the segment. In addition, ongoing efforts by companies to introduce new and innovative products are anticipated to present attractive growth opportunities.
Rising cheese consumption due to changing consumer preferences and tastes continues to be a primary driver for the parmesan cheese market. People with hectic lifestyles and no time for home-cooking are increasingly looking for convenient, tasty foods. The demand is significantly benefitting various taste enhancers including butter, cheese and other toppings.
In addition, rising consumer demand and preference for specific cheese-based products is also prompting various manufacturers in the food & beverage industry to consider cheese in line with consumer needs. The parmesan cheese market is further gaining from increasing consumption of packaged cheese products, which can be attributed to their immense popularity along with extended shelf-life of parmesan cheese. Cheese is also a popular ingredient for domestic cooking.
The long shelf-life enables consumers to purchase cheese in big packages and store them in refrigerator for later use. Another prominent factor favoring the market growth is increasing consumption of parmesan cheese on account of introduction of new cheese-based snacks and bakery products. Parmesan cheese is anticipated to gain from increasing consumer demand for premium cheese products.
Factors including increasing disposable income coupled with strong focus of people on health have enabled high-end food items to garner considerable attention in the recent years. In addition, rising incident of lifestyle diseases along with increasing consumer awareness about factors associated with these conditions are prompting people to spend on high-end healthy products including parmesan cheese. The trend is poised to continue driving global demand for parmesan cheese in the coming years.
The U.S. Market is Estimated at $4.2 Billion in 2022, While China is Forecast to Reach $1.3 Billion by 2026
The Parmesan Cheese market in the U.S. is estimated at US$4.2 Billion in the year 2022. The country currently accounts for a 25.51% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.3 Billion in the year 2026 trailing a CAGR of 4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR while Rest of European market (as defined in the study) will reach US$1.4 Billion by the close of the analysis period.
What`s New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
COVID-19 Ripples Prompt Cheese Producers & Clients to Shift Gears for Survival
Ranking of Reasons Cited for Cheese Consumption Amid the Pandemic
Companies Catering to Food Service Outlets Shift Gears for Resilience
Italy's Parmigiano Reggiano Rides High on COVID-19 Storm & Posts Record Production
COVID-19-Driven Spurt in Dry Ice Demand Threatens Participants in Cheese Market
Influencer Market Insights
World Market Trajectories
Dairy Products: An Overview
Cheese: An Important Segment of the Dairy Products Industry
An Evolution Scan of Cheese
Cultural Influences on Cheese Consumption Patterns
Parmesan Cheese: A Popular Cheese with Intriguing Nutritional Qualities
Outlook: Favorable Consumption Dynamics Augurs Well for Packaged Parmesan Cheese Market
Italy: The Home to Parmigiano-Reggiano Cheese
Parmigiano Reggiano Exports
Parmesan Cheese Outside Italy
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 59 Featured)
Aar Kay Food Products Ltd.
All American Foods
Archer Daniels Midland Company
BelGioioso Cheese Inc.
Bluegrass Dairy and Food, Inc.
Commercial Creamery Company
Cora Brand Products
Kane grade Limited
Kerry Group PLC
Panos Brands LLC
The Kraft Heinz Company
3. MARKET TRENDS & DRIVERS
Consumer Interest in Authentic, Premium Food Ingredients Drives Consumption of Parmesan Cheese
Industry Witnesses Rise in Consumption of Cheese Powder
Expansion of f Quick Service Restaurants Augurs Well for Market Growth
Dynamics of Foodservice Outlets and Restaurants Augment Market Prospects
Changing Food Habits and Trend towards Eat-Out Bodes Well
Rise in Online Food Delivery Services also Support Growth
Rise in Online Food Delivery Services also Support Growth
On-the Go Snacking Trend Supports Growth
Innovative Packaging and Target Based Promotions to Drive Dairy Products Demand
Parmesan Cheese Faces Competition From Other Substitutes
Macro Trends Impacting Growth
Expanding Middle Class Population in Emerging Markets Offer Increased Growth Prospects
Expanding Urban Population Spurs Growth
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/9p9rry
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900