The parmesan cheese market has grown steadily, rising from $15.96 billion in 2023 to $16.73 billion in 2024, with a CAGR of 4.8%. This growth is linked to evolving consumer lifestyles, increased use in home cooking, and expansion in the foodservice industry. The market is expected to reach $20.25 billion by 2028, with a CAGR of 4.9%. Future growth will be driven by demand for convenience foods, healthy protein-rich options, and innovations in packaging and retail channels.
Major Driver In The Parmesan Cheese Market
The parmesan cheese market is projected to grow with the rising demand for convenience and fast-food products. These products, designed for quick consumption with minimal preparation, are becoming more popular due to urbanization and busy lifestyles. Parmesan cheese, known for its distinctive flavor and versatility, is highly valued in such products. A survey by the American Frozen Food Institute in June 2023 revealed that 98.4% of U.S. consumers purchased from the frozen food department at least once annually. This growing demand for convenience foods is fueling the expansion of the parmesan cheese market.
Request A Free Sample Of The Parmesan Cheese Market Report
Parmesan Cheese Market Competitive Landscape
Archer Daniels Midland, Saputo Inc., Arla Foods AMBA, Kerry Group PLC, Sargento Foods Inc., Organic Valley, Dairiconcepts L.P., BelGioioso Cheese Inc., Parmalat S.p.A, Bluegrass Ingredients Inc., 4C Foods Corp., Auricchio S.p.A, Granarolo Group, Cheese Merchants, Commercial Creamery Co., Groupe Lactalis, Milano's Cheese, Ambrosi s.p.a, Parmigiano Reggiano, Latteria Sociale Valtellina, Aarkay Food Products Ltd., Cello Cheese, Caseificio Rosola, Valserena, Kodai Dairy Products Pvt. Ltd.
Key Parmesan Cheese Market Trend
Companies in the parmesan cheese market are introducing innovative products like parmesan snacks to cater to consumer tastes. Parmesan snacks, featuring Parmesan cheese as a key ingredient, offer a flavorful alternative to traditional snack options. For instance, in April 2024, Whisps, a US-based cheese and snack brand, launched Whisps Popped, a new range of cheese snacks made from 100% real cheddar, Parmesan, pepper jack, and mozzarella. These snacks are crafted by baking grated cheese into a crispy, bite-sized format and are available in flavors such as Very Cheddar, Perfectly Parmesan, and Jalapeño Popper, offering a rich, cheesy taste with a unique twist.
Purchase The Global Parmesan Cheese Market Report Directly And Get A Swift Delivery
Parmesan Cheese Market Segmentation
The parmesan cheese market covered in this report is segmented –
1) By Type: Powdered, Wheels, Shredded, Grated
2) By Nature: Dairy, Vegan
3) By Category: Conventional, Organic
4) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Online Retail, Other Distribution Channels
5) By End User: Food Processing, Food Service, Food Retail
By Geography:The regions covered in the parmesan 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 parmesan cheese market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Parmesan Cheese Global Market Report 2024 furnishes information about the global parmesan 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.
