The Global Parmesan Cheese Market size is expected to reach $20 billion by 2028, rising at a market growth of 4.6% CAGR during the forecast period.
A hard cheese with a natural yellow rind and a flavorful, fruity aroma, parmesan is straw in color. It's created with cow's milk. The original parmesan is Parmigiano Reggiano from Italy. However, replicas and comparable varieties are available in Argentina, Australia, and the US. Along with truffles, mushrooms, and miso, parmesan is a common meal that makes consumers' mouths taste savory and umami.
Some people even consider it as a functional meal because they think some of its ingredients might enhance health or lower disease risk. Its abundant protein and calcium content and its simplicity of digestion are among its nutritional highlights.
Various maturational levels of parmesan are available for sale. Giovane is the youngest at 14–18 months, followed by Vecchio at 18–2 years, stravecchio at 2–3 years, and the extra-mature stravecchione at 3–4 years. The price of cheese increases with maturation; younger cheeses are less expensive to use in cooking, while older parmesan is best enjoyed as a dessert cheese due to its richer flavor. To ensure that the cheese remains at its finest, purchase little and frequently, as with all cheeses.
Traditional rennet, a collection of enzymes taken from animal stomachs and used to separate cheese curds from the whey, is used to make parmesan. This indicates that the product is not strictly vegetarian. Although they cannot be called parmesan, vegetarian parmesan can be purchased in supermarkets & delicatessens under the name Italian hard cheese.
The COVID-19 pandemic has had an effect on society and the world's economy. The pandemic's effects are expanding daily, and the supply chain is also being impacted. The COVID-19 situation is causing the stock market to be uncertain, the supply chain to be significantly slowed down, corporate confidence to be declining, and client segment panic to be growing. As the government of different regions has already announced a total lockdown and the temporary shutdown of industries, the overall production process is being adversely affected, thus, hindering the overall Parmesan Cheese market globally.
The market for cheese-based snacks is growing favorably, and this growth is being fueled by a rise in the popularity of portable snacks. Due to the rapidly growing segment, which uses parmesan cheese extensively in both savory and sweet snacks, the industry is expanding. As consumer awareness of the health risks associated with junk food intake, including diabetes and other chronic diseases, develop, it is predicted that the market for cheese-based snacks will rise globally. A rise in consumer demand for cheese-centric eating habits and lifestyles is one of the key drivers behind the growth of the parmesan cheese market globally. All of this is causing the market for parmesan cheese to expand.
Sales are being boosted by greater consumer knowledge of parmesan cheese's health advantages. Cheese made with parmesan is very nourishing. It is full of minerals that promote bone health and protein and fat that are ready for use. Its high levels of calcium and protein and its simplicity in digestion are among its nutritional highlights. Consumer demand for parmesan cheese is rising due to these practical advantages. Parmesan cheese's popularity and long shelf life contribute to the market's expansion.
The prevalence of overweight and obesity amongst adolescents and children ranging from 5 to 19 has significantly increased, rising from a mere 4% in 1975 to just over 18% in 2016. The main factor contributing to obesity and overweight is an imbalance in energy among calories burned and calories consumed. Foods that are high in fat and sugar and are filling have become more popular worldwide. Experts advise cutting back on saturated fat consumption. Cheese has a lot of calories and a lot of saturated fats. This can lead to a decrease in cheese consumption. Due to this, the parmesan cheese market's growth throughout the forecast period may suffer.
By type, the parmesan cheese market is classified into powdered, grated, shredded, and wheels. In 2021, the powdered segment registered the maximum revenue share in the parmesan cheese market. Aged Parmesan cheese is grated, melted, and then spray-dried to create parmesan cheese powder. Pasta, popcorn, steamed vegetables, as well as soups, casseroles, dips, and spreads, can all be garnished with Parmesan cheese powder. Consumers can easily sprinkle this wholesome Parmesan powder to add flavor and nutritious value to spaghetti, pizza, soups, potato chips, pasta, and more.
Based on nature, the parmesan cheese market is divided into dairy and vegan. In 2021, the dairy segment held the largest revenue share in the parmesan cheese market. Skimmed cow's milk is the base for parmesan before bacteria—specifically, thermophilic lactic acid bacteria—are introduced. Rennet is used to cause the milk to curdle after the mixture has been heated. The curd is divided into rice-sized pieces and given an hour to settle. It is then poured into sizable cheese moulds or wheels after being strained through muslin.
On the basis of category, the parmesan cheese market is segmented into conventional and organic. In 2021, the organic segment garnered a promising growth rate in the parmesan cheese market. Most the vegan parmesans are organic because they are typically manufactured with organic raw materials. Organic parmesan cheese is typically a high-quality product due to the utilization of high-quality raw materials in production, which raises the demand for organic parmesan cheese. The market for parmesan cheese will develop due to a particular desire from customers for organic cheese.
By end user, the parmesan cheese market is fragmented into food processing, food services, and food retail. In 2021, the food services segment recorded a substantial revenue share in the parmesan cheese market. Examples of food service establishments include restaurants, hotels, fast food restaurants, cafes, and others. These businesses primarily supply customers with food that is either fully cooked on-site or prepared elsewhere before being finished there. An increase in the demand for gourmet cuisine and eating out can be traced to a change in consumer behavior.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 14.7 Billion |
| Market size forecast in 2028 | USD 20 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 4.6% from 2022 to 2028 |
| Number of Pages | 213 |
| Number of Tables | 430 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Category, Type, Nature, End User, 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 parmesan cheese market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, the Europe region accounted for the highest revenue share in the parmesan cheese market. Since it is where parmesan originated, Europe is where the majority of the world's parmesan cheese is consumed. The Reggiano region of Italy produces the purest parmesan. Due to the increasing prevalence of lifestyle diseases and increased consumer awareness of factors associated with these ailments, people in this region are spending more money on high-end healthy products like parmesan cheese. As a result, the market for parmesan cheese is expanding favorably as a result of all these causes.
Free Valuable Insights: Global Parmesan Cheese Market size to reach USD 20 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lactalis Group, Organic Valley, The Kraft Heinz Company, The Kroger Co., Lactosan A/S (Thornico A/S), Kerry Group PLC, BelGioioso Cheese, Inc., Caseificio Sepertino s.n.c, All American Foods, Inc., and Bluegrass Ingredients, Inc.
By Type
By Category
By Nature
By End User
By Geography
The global Parmesan Cheese Market size is expected to reach $20 billion by 2028.
Consumption of On-The-Go snacks is rising are driving the market in coming years, however, Rising obesity and overweight rates restraints the growth of the market.
Lactalis Group, Organic Valley, The Kraft Heinz Company, The Kroger Co., Lactosan A/S (Thornico A/S), Kerry Group PLC, BelGioioso Cheese, Inc., Caseificio Sepertino s.n.c, All American Foods, Inc., and Bluegrass Ingredients, Inc.
The Conventional segment acquired maximum revenue share in the Global Parmesan Cheese Market by Category in 2021 thereby, achieving a market value of $15.1 billion by 2028.
The Food Processing segment is leading the Global Parmesan Cheese Market by End User in 2021 thereby, achieving a market value of $7.8 billion by 2028.
The Europe market dominated the Global Parmesan Cheese Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.4 billion by 2028.
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