Dublin, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The "Global Mascarpone Cheese Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Type, By Application (Food & Beverages, Food Service Industry, and Retail & Household), By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global mascarpone cheese market is on track to achieve significant growth, with a projected market size of $1.7 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. In 2022, the market witnessed substantial expansion, with a volume of 66,006.5 tonnes, marking a remarkable growth rate of 5.1% from 2019 to 2022.
The surge in the consumption of mascarpone cheese in developing countries within the Asia Pacific region can be attributed to evolving dietary preferences and increased access to specialty dairy products. Consequently, the Asia Pacific region generated $318.7 million in revenue in 2022. The market's growth in this region is further catalyzed by significant industry players' efforts to penetrate new markets.
Changing lifestyles, driven by increased employment, have led to a decline in home cooking. Consequently, people are increasingly dining out, leading to a rise in the consumption of dairy and meat products. Restaurants are experiencing higher demand for various cheese and meat options, driven by the growing preference for high-protein diets, ultimately boosting cheese sales.
Mascarpone cheese has become a vital alternative to traditional bovine milk-based cheese consumption, and this trend is expected to continue to flourish in the foreseeable future. The rising demand for ready-to-eat food items is another contributing factor to the market's growth. Mascarpone cheese is a favored culinary ingredient in industrial canteens and large catering establishments, enhancing the appeal of ready-to-eat offerings.
The expanding retail and ready-to-eat sectors are anticipated to drive the demand for mascarpone cheese, further bolstering market growth. Numerous retail outlets, including hypermarkets, supermarkets, discounters, forecourt retailers, convenience stores, and grocery stores, offer ready-to-eat food items. Additionally, online commerce has become a popular channel for purchasing mascarpone cheese, playing a pivotal role in enhancing brand image and raising awareness of various food and beverage products, thus fostering the demand for mascarpone cheese.
Despite these positive trends, the market faces competition from other cheese products, such as sliced cheese, shredded cheese, liquid cheese, parmesan cheese, halloumi cheese, and cheese blocks. Some consumers may perceive these alternative cheese products as more authentic and natural, potentially affecting the demand for mascarpone cheese.
Application Outlook
The market is categorized into three main application segments: food & beverages, food service industry, and retail & household. In 2022, the retail and household segment experienced substantial growth. Mascarpone cheese finds versatile applications in these sectors, serving as a staple dairy product available in various forms and packaging sizes. Consumers utilize mascarpone cheese in a wide range of sweet and savory dishes, making it a sought-after ingredient in popular recipes like tiramisu, cheesecakes, pasta sauces, and more. In households, mascarpone cheese plays a crucial culinary role, imparting creaminess and richness to homemade recipes.
Distribution Channel Outlook
In terms of distribution channels, the business-to-business (B2B) segment dominated the market in 2022. The B2B distribution channel streamlines the process for restaurants and retailers, offering direct access to premium mascarpone products with prompt delivery and consistency. This platform caters to the diverse needs of restaurants, bakeries, and other food service businesses by emphasizing efficient logistics, personalized assistance, and competitive pricing.
Type Outlook
The market distinguishes between flavored and unflavored mascarpone cheese, with the unflavored segment holding a significant revenue share in 2022. The demand for unflavored mascarpone cheese remains robust due to its versatility in both sweet and savory culinary creations. Unflavored mascarpone serves as a neutral canvas, enhancing the richness and creaminess of dishes without overpowering other flavors. It remains an essential ingredient in classic desserts like tiramisu and cheesecakes, valued for its ability to create a smooth, velvety texture. Additionally, it enriches pasta sauces, risottos, and spreads in savory dishes, adding a touch of luxury.
Regional Outlook
In 2022, the European region led the market, accounting for the highest revenue share. Europe's diverse cuisines rely on cheese as a common ingredient, a key factor propelling market growth. Furthermore, the increasing demand for cheese as a critical component in cuisine and the growing consumption of authentic cheese are driving market expansion in the European region.
Key Market Players
Key companies profiled in the market research report include Vermont Creamery, LLC, Quality Cheese Inc., Dairy Craft India Pvt Ltd, BelGioioso Cheese, Inc., Di Stefano Cheese Co., Ferraro Dairy Foods, Newlat Food S.p. A., Granarolo S.p. A, Arthur Schuman Inc., and Crave Brothers Farmstead Cheese LLC.
For more information about this report visit https://www.researchandmarkets.com/r/g7ypaz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
