The Global Cheese Snacks Market size is expected to reach $96.4 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.
Since cheese gives otherwise bland foods a salty dimension, it has become a must-have for snacks. Customers choose cheese snacks because they are readily available in the market and have good nutritional value. Some of the most common types of cheese used to make cheese snacks are mozzarella, parmesan, and cheddar.
Cheese snacks are becoming more and more popular as more brands become accessible in developing nations. Due to the high demand for western food in these countries, market growth is anticipated. Increasing the number of retail outlets is necessary to fuel the market for cheese snacks. The availability of healthier cheese snacks on the market is growing as a result of the demand for cheese snacks.
One of the main drivers of market growth for cheese-based snacks is the variety of lifestyles of urban consumers. The market is expanding as a result of product manufacturers' efforts to meet consumer demand through brand relocation, brand reinforcement, and brand expansion. Cheese snacks are becoming more popular all over the world due to changes in taste and increased westernization.
Cheese is an example of whole food, meaning it has undergone little to no processing and is as close to its natural state as possible. Depending on the type and quantity of cheese users consume, the nutritional value of cheese can vary greatly. Avoid highly processed varieties because they may be high in sodium and additives.
The cheese snacks market has suffered greatly as a result of the widespread COVID-19 across the globe. The COVID-19 outbreak has caused a significant decline in the sales of cheese and cheese snacks. As restaurants, shops, and bakeries have closed, so has the demand for cheese snacks. Cheese manufacturing facilities are reporting lower demand, while milk producers are struggling with excess inventory. Along with this, due to the travel & trade restrictions, the logistical network has been disrupted, which has resulted in losses for the businesses due to lower sales.
One of the most important stimulating ingredients for market development is an increase in the average income of consumers as a result of modernization and a wider base of employed individuals. This is one of the most important factors contributing to the growth of the market. The purchase of cheese-based snacks has seen an increase in popularity among consumers in their mid-thirties to mid-forties. An up-phrase push is anticipated to be delivered to the market as a result of increased funding for generating imaginative class goods in addition to the inventiveness begun by the most important corporations for product branding.
The positive expansion of the cheese-based snacks market is being driven by the increase in the consumption of on-the-go snacks. Worldwide demand for cheese-based snacks is anticipated to increase as consumer awareness of the health dangers associated with junk food consumption, including diabetes, heart disease, and other chronic diseases grows. One of the major developments in the market for cheese-based snacks worldwide is an increase in consumer demand for eating habits and a lifestyle centered around cheese.
A large number of people suffer from diseases like lactose intolerance. An individual with lactose intolerance lacks the enzyme necessary to metabolize and digest milk sugar. Consuming dairy products such as milk or cheese may cause bloating, gas, or diarrhea. Individual differences exist in tolerance levels. Some people may be able to consume aged dairy products with little lactose, like hard cheeses and yogurt, while others may react to even a small bit of dairy. A person who has a lactose intolerance may have an adverse reaction to soft, fresh cheeses like mozzarella.
On the basis of sales channel, the cheese snacks market is fragmented into supermarket & hypermarket, convenience stores, online and others. In 2021, the online segment covered a substantial revenue share in the cheese snacks market. Online sale is one of the most efficient snack-buying options with the fastest growth. The segment growth is expanded by the rising number of internet and smartphone users, particularly in developed nations. Additionally, e-commerce tools like social networking and Google Ads are crucial in influencing consumer decisions.
Based on type, the cheese snacks market is segmented into mozzarella, parmesan, cheddar, feta and others. In 2021, the mozzarella segment dominated the cheese snacks market with the largest revenue share. Curd cheese, often known as mozzarella cheese, is capable of being sliced and used in a variety of food preparations. The high calcium and protein content of this cheese contributes to its significant consumption in the food business.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 63.5 Billion |
| Market size forecast in 2028 | USD 96.4 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 6.3% from 2022 to 2028 |
| Number of Pages | 182 |
| Number of Tables | 294 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Sales Channel, Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the cheese snacks market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region led the largest revenue share in the cheese snacks market by generating the largest revenue share. The need for a healthy snack is increasing quickly in this region as consumers become more health aware and conscious of the foods they must eat and the diets they should follow. The number of consumption occasions has significantly expanded, and the Asia Pacific appears to be the region with the greatest growth.
Free Valuable Insights: Global Cheese Snacks Market size to reach USD 96.4 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; General Mills, Inc., ITC Limited, The Kraft Heinz Company are the forerunners in the Cheese Snacks Market. Companies such as UTZ Quality Foods, LLC, Amy's Kitchen, Inc., and Mars Incorporated are some of the key innovators in Cheese Snacks Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sargento Foods, Inc., Mars, Inc., Utz Brands, Inc. (UTZ Quality Foods, LLC), General Mills, Inc., EnWave Corporation, Amy's Kitchen, Inc., Rich Products Corporation (RE Rich Family Holding Corporation), The Kraft Heinz Company, ITC Limited and Godrej Agrovet Limited (Godrej Industries Limited).
By Sales Channel
By Type
By Geography
The global Cheese Snacks Market size is expected to reach $96.4 billion by 2028.
Rising per capita income of people are driving the market in coming years, however, Large population suffering from diseases like lactose intolerance restraints the growth of the market.
Sargento Foods, Inc., Mars, Inc., Utz Brands, Inc. (UTZ Quality Foods, LLC), General Mills, Inc., EnWave Corporation, Amy's Kitchen, Inc., Rich Products Corporation (RE Rich Family Holding Corporation), The Kraft Heinz Company, ITC Limited and Godrej Agrovet Limited (Godrej Industries Limited).
The expected CAGR of the Cheese Snacks Market is 6.3% from 2022 to 2028.
The Supermarkets & Hypermarkets market is leading the Global Cheese Snacks Market by Sales Channel in 2021; thereby, achieving a market value of $53.7 billion by 2028.
The Asia Pacific market dominated the Global Cheese Snacks Market by Region in 2021; thereby, achieving a market value of $38.6 billion by 2028.
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