How Has the Parmesan Cheese Market Evolved Historically and What is its Current Size?
The parmesan cheese market has seen considerable growth due to a variety of factors.
• The parmesan cheese market has grown significantly in recent years. It will grow from $16.73 billion in 2024 to $17.58 billion in 2025, at a compound annual growth rate (CAGR) of 5.1%.
This growth is driven by higher disposable incomes, changing consumer habits, the growing popularity of cheese in home cooking and baking, the rise in cheese-based snacks and ready-to-eat meals, and the growth of the foodservice sector.
What Does Future Hold for The Parmesan Cheese Market By 2029?
The parmesan cheese market is expected to maintain its strong growth trajectory in upcoming years.
• The parmesan cheese market is projected to reach $21.22 billion by 2029, with a CAGR of 4.8%.
This growth is driven by the demand for convenience and fast food products, a preference for healthy food options, increased use in foodservice and food processing, and changing dietary habits. Key trends include innovations in packaging, retail channel expansion, demand for natural and organic products, and investments in dairy farming technologies.
What Are The Primary Growth Drivers In The Parmesan Cheese Market?
The growth of the parmesan cheese market is projected to be fueled by the escalating demand for convenience and fast-food items. These are pre-prepared or easily made food items intended for swift consumption, frequently necessitating little cooking or prep time. This increase in demand is attributed to the rise in urbanization, busier lifestyles, and the surging need for quick and hassle-free meals. Due to its unique flavor and capability to boost taste without the need for extensive preparation, parmesan cheese is highly esteemed in the convenience and fast-food sector, making it a perfect match for quick meal solutions. For example, the American Frozen Food Institute (AFFI), a trade association based in the US, published a survey in June 2023 demonstrating that 98.4% of 1,525 U.S. consumers surveyed in June 2022 make at least one annual purchase from the frozen food section. Consequently, the escalating demand for convenience and fast-food items is propelling the parmesan cheese market's expansion.
What Is The Segmentation Of The Global Parmesan Cheese Market?
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
Subsegments:
1) By Powdered: Pre-Packaged Powdered Parmesan Cheese, Bulk Powdered Parmesan Cheese
2) By Wheels: Whole Parmesan Cheese Wheels, Half Parmesan Cheese Wheels
3) By Shredded: Pre-Packaged Shredded Parmesan Cheese, Fresh Shredded Parmesan Cheese
4) By Grated: Pre-Packaged Grated Parmesan Cheese, Freshly Grated Parmesan Cheese
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Which Emerging Market Trends Are Altering The Parmesan Cheese Industry?
Leading corporations in the parmesan cheese industry are introducing creative product lines, such as parmesan centered snacks, to offer customers the distinctive, nutty taste of parmesan. These snacks primarily use parmesan cheese as a core ingredient. In April 2024, for example, Whisps, an American cheese and snack company, introduced its Whisps Popped line. The distinguishing aspect of these cheese snacks lies in their make-up – they contain 100% pure cheddar, parmesan, pepper jack, and mozzarella cheese. These snacks deviate from the norm as they are popped and prepared from grated cheese, then transformed into a crunchy, bite-sized form. These snacks are then lavishly spiced with extra cheese to intensify their cheese flavor. The company describes them as their most decadent cheese snacks till date. With options in Very Cheddar, Perfectly Parmesan, and Jalapeño Popper, these baked cheese snacks provide a tasty variation on the regular cheese crisps.
Who Are the Key Players In The Parmesan Cheese Market?
Major companies operating in the parmesan cheese market are:
• 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.
What Are The Regional Insights Into The Parmesan Cheese Market?
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 regions covered in the parmesan cheese market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
