The parmesan cheese market has experienced steady growth, increasing from $15.96 billion in 2023 to $16.73 billion in 2024, with a compound annual growth rate (CAGR) of 4.8%. This growth is linked to rising disposable incomes, evolving consumer lifestyles, the growing popularity of cheese in home cooking and baking, and a surge in cheese-based snacks and ready-to-eat meals, along with expansion in the foodservice industry. The market is expected to see continued steady growth, reaching $20.25 billion by 2028, with a CAGR of 4.9%. This projected growth is driven by increasing demand for convenience and fast-food products, a preference for high-end, healthy food items, growing use of parmesan cheese in food processing, foodservice, and retail, health-conscious consumers seeking protein-rich dairy products, and changing dietary habits. Trends include innovations in packaging technologies, expansion of retail channels, preference for natural and organic products, cultural influences promoting cheese consumption, and investments in dairy farming and milk production technologies.
Global Parmesan Cheese Market Key Driver
The increasing demand for convenience and fast-food products is expected to drive the growth of the parmesan cheese market. Convenience and fast-food products, designed for quick consumption with minimal preparation, are becoming more popular due to urbanization, busier lifestyles, and a need for easy meal solutions. Parmesan cheese, with its distinctive flavor and ability to enhance taste without extensive preparation, is highly valued in such products. For example, a survey published by the American Frozen Food Institute (AFFI) 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 and fast-food options is fueling the expansion of the parmesan cheese market.
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Global Parmesan Cheese Market Segments
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.
Major Parmesan Cheese Industry Players
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.
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Parmesan Cheese Market Overview
Parmesan cheese, also known as Parmigiano-Reggiano, is a hard, granular cheese made from cow's milk, originating from the Parma, Reggio Emilia, Modena, Bologna, and Mantua regions of Italy. Aged for a minimum of 12 months, it develops a rich, nutty flavor and a crumbly texture, making it ideal for grating over dishes like pasta, salads, and soups. The purpose of parmesan cheese is to add depth and savoriness to culinary creations, enhancing the overall taste and complexity of various dishes.
Parmesan Cheese Global Market Report 2023 provides data on the global parmesan cheese market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The parmesan cheese market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
