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The cheese based snacks market size is estimated to grow at a CAGR of 5.2% between 2022 and 2027. The market size is forecast to increase by USD 4,336.17 million. The growth of the market depends on several factors, including the growing demand for on-the-go snack consumption, the rise in disposable income and changes in lifestyle, and the evolving taste preferences.
This cheese based snacks market report extensively covers market segmentation by end-user (retail and food service), type (baked, fried, and frozen), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The evolving taste preferences are notably driving the market growth, although factors such as rising number of health effects may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the global cheese-based snacks market growth is the evolving taste preferences. Shoppers' preferences for processed snack foods such as snacks with cheese are evolving. Young people are eager to try new options and are constantly on the lookout for fresh ingredients. Manufacturers strive to accommodate these new products by expanding product lines, creating new items, and introducing new brands. Continuous product development and innovation are critical to the long-term sustainability of any market, and the global cheese-based snack food market is no exception.
As a result, manufacturers of cheese-based snacks are focusing on launching an array of products with diverse flavors and ingredients. Furthermore, producers are concentrating on expanding production to meet the growing demand for unique styles, locally sourced products, and artisanal flavors. The manufacturers are also mindful of the cultural influences of various nations and regions. As a result, international brands tailor their offerings to suit local preferences, which, in turn, will boost the growth of the global cheese based snacks market during the forecast period.
Rising number of new product launches is one of the key cheese-based snacks market trends that is expected to impact the industry positively in the forecast period. The increase in the number of new product launches drives the growth of the global cheese based snacks market. Successful new product launches will increase revenue flow and market shares of the cheese based snack vendors (ITC Limited, PepsiCo Inc., Kellogg Co., Parle Products Pvt. Ltd., Mars Inc., McCain Foods Ltd). In September 2021, McCain Foods Limited launched a new plant-based brand named "The Simple Root", which will offer dips, spreads, sauces, and cheese made from root vegetables. These new products are transformed into creamy taste and texture with the help of new technology developed in collaboration with Pilot Lite Capital and McCain Foods. This new brand launch helped the company to expand its business and gain more revenue.
Similarly, in January 2021, three new Pringles such as Flavors-Kickin' Sour Cream (Medium), Spicy BBQ (Hot), and Cheese and Chilli (Extra Hot)-were introduced by Kellogg's Co. The introduction of these three flavors assisted the business in gaining more clients. These new product launches have helped the vendors expand their product segment and attract a large consumer base which is expected to continue during the forecast period.
One of the key challenges to the global cheese-based snacks market growth is the rising number of health problems. Increasing health effects associated with the consumption of high-calorie foods such as cheese-based snacks are also hindering market growth. The saturated fat in cheese raises cholesterol levels. High cholesterol can increase your risk of heart disease. Cheese is high in sodium, which helps maintain the water balance in your cells. On the other hand, too much sodium can lead to high blood pressure and has been linked to kidney disease, heart disease, and osteoporosis. Cheese is a rich source of important nutrients, but it is high in calories.
Consumers are more likely to acquire weight if they consume high-calorie foods. Lactose, found in cheese, such as all other milk products, is difficult to digest for several people. Consuming excess cheese-based snacks can create difficulties such as gas or bloating in individuals. Furthermore, as cheese has no fiber, consuming too much can cause constipation. Such factors are expected to hinder the growth of the global cheese based snacks market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cheese Based Snacks Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amys Kitchen Inc.: The company offers cheese based snacks such as cheese pizza snacks. Also, the company offers various food products including vegan food products, gluten free foods, soups, burritos and wraps, pizzas, and other products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the retail segment will be significant during the forecast period. In this segment, hypermarkets, supermarkets, and grocery stores are the primary distribution channels for cheese-infused bites in the retail sector. The retail sector reigns supreme due to the expansion of the organized retail industry.
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The retail segment was valued at USD 9,933.86 million in 2017 and continued to grow until 2021. Purchases of cheese-based snack foods are on the rise as organized retail becomes more prevalent. Huge shelves and storage areas in these big stores house a variety of cheese-filled morsels from different vendors. Shoppers prefer big boxes and grocery stores. Because he can find all categories of products in one place that smaller stores can't. Customers who purchase a certain number of items in hypermarkets and grocery stores receive discounts and free items, increasing sales through these channels.
A discount store or convenience store is another form of organized retail that offers a variety of cheese-based snacks from multiple vendors, although smaller than a large department store or grocery store. Most of these stores are located in residential areas. With rising disposable incomes and urbanization rates, consumers are moving from small convenience stores to hypermarkets, supermarkets, and grocery stores. Other local cheese-based snack food manufacturers are expected to benefit from these factors, boosting the growth of the global cheese-based snack food market during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is expected to dominate the global cheese-based snack food market during the forecast period owing to changing household size, increasing preference for accessibility, and increasing consumer interest. North America is a major contributor to the global cheese-based snack food market and is projected to grow during the forecast period. A growing number of part-time households, rising disposable income, the presence of fast food chains, and economic growth across the region are key factors that make the region one of the largest markets for cheese-based snack foods.
In 2020, the COVID-19 pandemic adversely affected the economies of various countries in North America. However, in 2021, the initiation of COVID-19 vaccination drives led to the lifting of lockdowns and the resumption of industrial operations, which increased the demand for cheese-based snacks in retail stores. Moreover, factors such as increasing people's consciousness about the importance of eating nutritious foods, the rising use of Internet channels to bulk purchase goods and snack alternatives, and improved supply chain movement are expected to boost the demand for cheese-based snacks, which, in turn, will drive the growth of cheese based the regional market cheese based during the forecast period.
The cheese based snacks market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global cheese based snacks market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Cheese Based Snacks Market Scope |
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.2% |
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Market growth 2023-2027 |
USD 4,336.17 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.78 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amys Kitchen Inc., Bikaji Foods International Ltd., EnWave Corp., General Mills Inc., Godrej Agrovet Ltd., Haldiram Foods International Pvt. Ltd, Iscon Balaji Foods Pvt. Ltd., Kellogg Co., Mars Inc., McCain Foods Ltd., Parle Products Pvt. Ltd., PepsiCo Inc., Prataap Snacks Ltd., Sargento Foods Inc., Serious Pig Ltd., Sunlight Resources Ltd, UNISMACK SA, Utz Brands Inc., Whisps Acquisition Corp., and Venkataramana Food Specialities Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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