PORTLAND, Ore, May 02, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Liquid Cheese Market by Product Type (Cheese Spread, Cheese Sauce, Cheese Dip, and Others), Cheese Type (Mozzarella, Cheddar, Parmesan, and Others), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2022–2031.". According to the report, the global liquid cheese market was valued at $17,300.0 million in 2021 and is projected to reach $22,474.9 million by 2031, registering a CAGR of 2.6% from 2022 to 2031.
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Prime determinants of growth
The growth of the liquid cheese market is driven by factors such as the increasing popularity of cheese-based snacks and the demand for convenient and easy-to-prepare foods. However, availability of substitutes restrains the market growth. On the other hand, new product development and increasing demand for natural and clean-label ingredients are presenting lucrative opportunities for the market growth.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $17,300.0 Million |
| Market Size in 2031 | $22,474.9 Million |
| CAGR | 2.6% |
| No. of Pages in Report | 250 |
| Segments covered | Product Type, Cheese Type, Distribution Channel, and Region. |
| Drivers | Increasing demand for convenience foods The popularity of cheese-based snacks Growing foodservice industry |
| Opportunities | New product development Expansion into new markets Increasing demand for natural and clean-label ingredients |
| Restraints | Health concerns Availability of substitutes |
Covid-19 Scenario
- The COVID-19 pandemic had a mixed impact on the liquid cheese market.
- On one hand, the demand for convenience foods, including liquid cheese, increased as more people were eating at home due to restrictions on dining out.
- On the other hand, the closure of restaurants and food service establishments led to a decline in demand for liquid cheese in bulk quantities.
The cheese spread segment to maintain its leadership status throughout the forecast period
Based on product type, the cheese spread segment held the highest market share in 2021, accounting for around two-fifths of the global liquid cheese market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to grow at a CAGR of 3.2% from 2022 to 2031. Cheese spreads are a convenient and versatile ingredient that can be used in a variety of recipes or simply spread on toast or crackers. This convenience factor is a major driver of demand for cheese spreads. Cheese spreads are perceived as a healthier alternative to traditional spreads such as butter and margarine, which has driven demand for the product among health-conscious consumers.
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The cheddar segment to maintain its leadership status throughout the forecast period
Based on cheese type, the cheddar segment held the highest market share in 2021, accounting for more than one-third of the global liquid cheese market, and is estimated to maintain its leadership status throughout the forecast period. The global demand for cheese is increasing, driven by changing dietary habits and a growing preference for convenience foods. Consumers are increasingly seeking out natural and organic food products, including cheddar cheese made from milk from grass-fed cows and free from artificial ingredients. However, the parmesan segment is projected to grow at a CAGR of 3.4% from 2022 to 2031.
The offline segment to maintain its leadership status throughout the forecast period
Based on the distribution channel, the offline segment held the highest market share in 2021, accounting for nearly three-fourths of the global liquid cheese market revenue and is estimated to maintain its leadership status throughout the forecast period. Offline distribution channels for liquid cheese typically include traditional brick-and-mortar retail stores such as supermarkets, hypermarkets, and specialty food stores. These stores often have dedicated dairy sections or chilled aisles where liquid cheese can be found. In addition to traditional retail stores, liquid cheese may also be distributed through food service channels such as restaurants, cafes, and catering companies. This can include the use of liquid cheese as an ingredient in various food dishes or as a standalone condiment. However, the online segment is projected to grow at a CAGR of 3.2% from 2022 to 2031. A growth in number of offers or discounts and the increased prevalence of different internet portals in emerging countries encourage customers to buy liquid cheese online.
Europe to maintain its dominance by 2031
Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for around half of the global liquid cheese market revenue and is estimated to maintain its leadership status throughout the forecast period. Consumers are increasingly looking for convenient food options that are quick and easy to prepare. Liquid cheese products, such as cheese sauces and dips, can be a convenient and versatile addition to many meals. Snacking is becoming increasingly popular in Europe, particularly among younger consumers. Liquid cheese products can be used as a dip for chips and vegetables, providing a convenient and satisfying snack option. Europe is known for its strong dairy industry, and there is a growing demand for dairy products such as cheese, milk, and yogurt. On the other hand, Asia-Pacific region helds the major CAGR of 3.0% in from 2022 to 2031.
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Leading Market Players: -
- Amul
- Brunkow Cheese
- Cabot Creamery
- Dairygold
- Dlecta Foods Private Limited
- Fritos
- Gehl Foods, LLC
- Heluva Good
- Kaukauna Cheese
- La Preferida
- Ricos Products
- Rojo's
- Veeba Food
- Velveeta
- Wingreens Farms Private Limited
The report provides a detailed analysis of these key players in the global liquid cheese market. Key players operating in the liquid cheese market have adopted product launches, business expansions, and mergers & acquisitions as key strategies to expand their liquid cheese market share, increase profitability, and remain competitive in the market.
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