According to a new report, published by KBV research, 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.
The Wheels segment is showcasing a CAGR of 4.8% during (2022 - 2028). A cheese wheel is a cured cheese that is either a wheel or a block and usually has its protective skin on. The majority of cheeses are created in the form of wheels, and when customers ask for a certain cheese, cheese merchants cut out wedges. A wheel of cheese may be wrapped in the wax during the curing process, depending on the type, to prevent the entrance of undesirable germs. Cheese manufacturers may move their cheeses literally by rolling them around due to the design of a cheese wheel.
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. Conventional parmesan cheese includes all varieties of processed and industrially produced parmesan cheese. They come in many different forms, like powder, grated, and shredded. Most typical parmesan cheeses, which make up a sizable portion of the parmesan cheese market, don't necessarily contain real parmesan; they occasionally include processed parmesan.
The Vegan segment has shown the growth rate of 6.8% during (2022 - 2028). Vegan parmesan cheese is created with vegan cashews, vegetable starch, vegetable oils, soy, and other comparable components. To attain a cheese-like consistency & melting qualities, vegan parmesan needs to undergo a high amount of processing. Multiple flavouring agents are used in vegan parmesan cheese to mimic the taste of parmesan. There is a rise in vegan consumers all over the world which is rising market demand in this segment.
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. Food processing is turning food from its raw form into a finished product for commercial sale. Due to rising consumer demand for ready-to-eat food products that save them time and money, this business is expanding quickly. Parmesan is mostly utilized in the production of savory foods and snacks. The market for parmesan cheese has grown rapidly as a result of the increased demand for packaged, wholesome, and delicious foods.
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. The North America market is exhibiting a CAGR of 4.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/parmesan-cheese-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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