Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The "Parmesan Cheese Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The parmesan cheese market size has grown steadily in recent years. It will grow from $15.96 billion in 2023 to $16.73 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The parmesan cheese market size is expected to see steady growth in the next few years. It will grow to $20.25 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
The growth observed in the historical period can be attributed to increased disposable incomes, evolving consumer lifestyles, a rising preference for cheese in home cooking and baking, expanding popularity of cheese-based snacks and ready-to-eat meals, and growth within the foodservice industry, encompassing restaurants and cafes. 
The forecasted growth can be attributed to several factors, rising demand for convenience and fast-food options, a growing preference for high-quality, health-conscious food choices, increasing utilization of Parmesan cheese across food processing, foodservice, and retail sectors, health-aware consumers favoring protein-rich dairy products, evolving dietary patterns, and an uptick in culinary exploration. Key trends expected in this period include advancements in packaging technologies, broadening of retail distribution channels, a preference for natural and organic food items, cultural influences promoting cheese consumption, and investments in dairy farming and milk production technologies.
The parmesan cheese market is set to expand significantly, driven by the rising popularity of convenience and fast-food options. These foods, designed for quick consumption with minimal preparation, are increasingly favored due to urbanization, busier lifestyles, and the need for easy meal solutions. Parmesan cheese stands out in these products for its distinctive flavor and ability to enhance dishes without extensive cooking, making it a preferred choice for quick meal solutions. A survey by the American Frozen Food Institute in June 2022, involving 1,525 U.S. consumers, highlighted the strong annual purchase habits from frozen food departments, further illustrating the growing demand driving the parmesan cheese market's growth.
Major players in the parmesan cheese market are innovating with products such as parmesan snacks, which highlight the cheese's nutty flavor. These snacks typically feature parmesan prominently and are crafted to offer a unique eating experience. Whisps, a US-based brand known for cheese and snacks, recently introduced Whisps Popped in April 2024.
These snacks stand out for being made entirely from real cheddar, parmesan, pepper jack, and mozzarella. Unlike conventional snacks, they are baked from grated cheese into crispy, bite-sized pieces and are generously seasoned to enhance their cheesiness. Whisps describes them as their most indulgent cheese snacks to date, available in flavors such as Very Cheddar, Perfectly Parmesan, and Jalapeno Popper, offering a delicious twist on traditional cheese crisps.
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. The countries covered in the parmesan cheese market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Competitive Landscape and Company Profiles
- Archer Daniels Midland
- Overview
- Products and Services
- Strategy
- Financial Performance
- Saputo Inc.
- Arla Foods AMBA
- Kerry Group PLC
- Sargento Foods Inc.
Other Major and Innovative Companies
- 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $16.73 Billion |
| Forecasted Market Value (USD) by 2028 | $20.25 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Parmesan Cheese Market Characteristics
3. Parmesan Cheese Market Trends and Strategies
4. Parmesan Cheese Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Parmesan Cheese Market Size and Growth
5.1. Global Parmesan Cheese Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Parmesan Cheese Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Parmesan Cheese Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Parmesan Cheese Market Segmentation
6.1. Global Parmesan Cheese Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Powdered
- Wheels
- Shredded
- Grated
6.2. Global Parmesan Cheese Market, Segmentation by Nature, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Dairy
- Vegan
6.3. Global Parmesan Cheese Market, Segmentation by Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Conventional
- Organic
6.4. Global Parmesan Cheese Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Other Distribution Channels
6.5. Global Parmesan Cheese Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Food Processing
- Food Service
- Food Retail
7. Parmesan Cheese Market Regional and Country Analysis
7.1. Global Parmesan Cheese Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Parmesan Cheese Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/i8ilj1
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