Packaged Parmesan Cheese Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global packaged Parmesan cheese market is projected to grow at a CAGR of 2.3% during the forecast period (2020-2025).

Key Highlights

• The consumer's preference for cheese powder with additional nutritional benefits such as low fat content, free of carbs as well as less/no lactose content are some of the major factors has resulted in an increasing demand for packaged Parmesan cheese across the globe.
• The popularity of Parmesan cheese will continue to grow, and that more consumers may trend towards shredded Parmesan cheese primarily because of its rich flavor and functionality (melting) attributes in food items such as pizza and pasta. Thus the companies engaged in manufacturing of grated Parmesan cheese market will continue to enjoy strong sales in the market during the forecast period.

Key Market Trends

Increasing Demand For Cheese Powders

The growth of the cheese powder market is led by blue cheese powder and Parmesan cheese powder across the globe. Lately, there has been a significant increase in demand for the Parmesan cheese owing to its fresh, natural ingredients and authentic flavors. Consumer’s expectation for high-quality, sauces, soups and dressings for better ethnic cheesy taste, texture, and appearance has led to high demand for the Parmesan cheese. Parmesan cheese is extensively being used in the form of grated over pastas, risottos and soups. Parmesan cheese comes in many varied flavors such as fruity, nutty, savory, sharp fancy shredded Parmesan, shaved Italian blend, shaved Parmesan and shredded Italian blend, which captures the variable taste preferences of the consumers across the globe.

United States Holds a Significant Share in The Overall Market

The United States is the largest producer and consumer of cheese powder in the world, and the demand here is driven by the increasing application in most of the savory and dairy snacks by the American population. Cheese powder users in the United States have been engaged in using the product in snack coatings, dry mixes, salad dressings, sauces, soups, and crackers, besides utilizing it to enhance the natural cheese flavor in seasonings and baked goods. The restraints faced by the industry in the United States include strict regulations, concerning food safety, in the wake of various allegations faced by leading players. For example, Kraft Heinz cheese, labeled "100% Grated Parmesan Cheese," was found to have 3.8% cellulose, while other manufacturers have issues concerning higher than acceptable levels of fillers in their cheese powder brands

Competitive Landscape

In the global packaged Parmesan cheese market, companies are active and constantly involved in acquiring shares and developing new products to attract a larger portion of consumers toward their products. Companies are heavily investing to develop new products, and are collaborating with or acquiring other companies to consolidate their market shares. These strategic moves have helped the companies in a positive way. However, not all the players display similar aggression in their tactics; some of the companies are not planning significant strategic developments. Mergers and acquisitions in the market have been targeted toward expanding the business in other segments, thus enhancing the product portfolio and maximizing revenues

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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