The liquid cheese market has seen steady growth, rising from $16.18 billion in 2023 to $16.65 billion in 2024, with a compound annual growth rate (CAGR) of 2.9%. This growth is driven by traditional consumption patterns, awareness of milk benefits, dietary trends, the expansion of gourmet food retailers, and the health and wellness movement. The market is projected to continue its steady rise, reaching $18.79 billion by 2028, at a CAGR of 3.1%. Future growth is fueled by increasing health consciousness, expanding dairy alternatives, the popularity of premium foods, higher disposable income, and the rise of e-commerce. Major trends include the demand for plant-based foods, sustainable farming practices, and innovations in packaging.
Major Driver In The Liquid Cheese Market
The liquid cheese market is anticipated to expand with the rising popularity of on-the-go snacks. These convenient, portable snacks are increasingly favored due to busy lifestyles and innovative packaging. Liquid cheese, versatile for various snacking needs, is experiencing growing demand. With on-the-go snack sales rising by 4% in 2024, the liquid cheese market is projected to grow to $1.8 billion in 2024 and $2.6 billion by 2028, up from $1.3 billion in 2023.
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Liquid Cheese Market Competitive Landscape
The Kraft Heinz Company, Hormel Foods LLC, Conagra Foodservice Inc., Campbell Soup Company, Groupe Savencia, Frito-Lay North America Inc., Dairy Farmers of America Inc., Land O Lakes Inc., Britannia Industries, Dairygold Co-Operative Society Ltd., Berner, Gehl Foods LLC, Amul, Veeba Foods, Lactalis American Group Inc., Ricos Products Co., Newman's Own, La Preferida, Alouette cheese, Knorr
Key Liquid Cheese Market Trend
The liquid cheese market is experiencing advancements with the introduction of dairy-free cheese products designed to appeal to consumers seeking plant-based alternatives. Armored Fresh, a South Korea-based food company, launched its Oat Milk Cheddar Dip in May 2024. This dairy-free, gluten-free, non-GMO, and cholesterol-free cheese product offers a rich, cheesy flavor similar to traditional nacho cheese sauce. The dip is designed for versatility, pairing well with various appetizers like pretzel bites, French fries, chips, and tacos.
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Liquid Cheese Market Segmentation
The liquid cheese market covered in this report is segmented –
1) By Product Type: Cheese Spread, Cheese Sauce, Cheese Dip, Other Product Types
2) By Cheese Type: Mozzarella, Cheddar, Parmesan, Other Cheese Types
3) By Distribution Channel: Offline, Online
By Geography:The regions covered in the liquid cheese market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the liquid cheese market in 2023.
The Liquid Cheese Global Market Report 2024 furnishes information about the global liquid cheese market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
