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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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Processed Cheese market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Processed Cheese
This newly published and insightful report sheds light on Market Insights of Processed Cheese, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Processed Cheese Market.
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).
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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.
Cheese Type
- Blue Cheese
- Brick Cheese
- Camembert Cheese
- Cheddar Cheese
- Cottage Cheese
- Cream Cheese
- Mozerella Cheese
- Romano Cheese
- Swiss Cheese
- Other Processed Cheese
Form
- Cheese Blocks
- Traingle
- Rectangle
- Circle
- Square
- Cheese Slice
- Cheese Spread
- Cheese Spray
Milk Source
- Cattle Milk
- Goat Milk
- Sheep Milk
End Use
- Retail / Household
- HoReCa
- F&B Processors
- Snacks Manufacturers
- Bakery and Confectionery Product Manufacturers
- Sauces and Condiment Manufacturers
- Ready Meal Manufacturers
- Packaged Food Manufacturers
- Other F&B Processors
Distribution
- Direct Sales (B2B)
- Hypermarkets and Supermarkets
- Club Stores
- Discounters
- Grocery Retailers
- Convenience Stores
- Online Stores
Regions
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Nowadays, consumer preferences are shifting toward healthy, organic and nutritious food products, which is mainly attributed to the surge in the prevalence of lifestyle diseases including diabetes, cholesterol levels, and hypertension. This has substantially reduced the consumption of processed cheese, particularly by highly health-conscious consumers as well as young consumers. The global processed cheese market is projected to register a sluggish expansion throughout the forecast period 2017 to 2022, according to a recently published research by Fact.MR. Revenues from the market are expected to exceed US$ 17,000 Mn by the end of forecast period.
Growing Demand for Processed Cheese by Food Service Manufacturers to Sustain the Market Growth
Generally, processed cheese are used in adding taste to sandwiches and burgers. This is mainly because processed cheese are easy to pair with a large number of ingredients. Fast food has witnessed a rise in popularity, especially in developing countries, which in turn is expected to influence the market growth. Processed cheese is also being used in several shredded, or sliced applications, as well as in pizza toppings. Demand for processed cheese by food service manufacturers has gained an uptick since the recent past. Food service manufacturers opt for processed cheese owing to its property of high melting, and smooth taste. These factors are expected to sustain the market growth of processed cheese.
Europe is expected to retain its dominance in the global market for processed cheese, in terms of revenues. Revenues from the processed cheese market in Europe will account for nearly half share of the market over the forecast period. The market for processed cheese in Asia-Pacific excluding Japan (APEJ) is projected to create an absolute $ opportunity of US$ 344.3 Mn between 2017 and 2022.
Wholesales/Distributor/ Direct Segment to Remain the Largest Sales Channel for Processed Cheese
Online retailers segment is estimated to remain the fastest expanding sales channel in the global processed cheese market. Wholesales/distributor/direct segment is projected to remain the most lucrative sales channel for processed cheese during the forecast period. However, processed cheese sales in convenience stores are expected to register the lowest CAGR in the market through 2022.
By product form, processed cheese blocks are projected to remain preferred among consumers, with sales estimated to account for nearly US$ 4,500 Mn revenues by 2022-end. In addition, sales of processed cheese slices are estimated to exhibit the fastest growth through 2022.
Sales of processed cheese sourced from cattle milk are projected to reflect the fastest growth through 2022, followed by processed cheese sourced from sheep milk. In terms of revenues, goat milk processed cheese are expected to remain dominant in the market throughout the forecast period.
Food & Beverage Processing Application of Processed Cheese to Hold over One-Third Revenue Share of the Market
Accounting for more than one-third market revenue share, food & beverage processing is projected to hold its position as the largest application segment in the global processed cheese market. In terms of revenues, hotel, restaurants, cafes (HoReCa) are anticipated to be the second most lucrative application segment in the market by 2022-end.
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More Valuable Insights on Processed Cheese Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Processed Cheese, Sales and Demand of Processed Cheese, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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