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The cheese based snacks market size is estimated to increase by USD 4.64 billion at a CAGR of 5.31% between 2023 and 2024. Market expansion hinges on various factors, notably the increasing demand for on-the-go snack consumption, driven by modern lifestyles. As disposable incomes rise and consumer preferences evolve, there's a notable shift in snack consumption patterns. The convenience and portability of on-the-go snacks cater to the fast-paced lifestyles of today. Moreover, as lifestyles change, there's a growing inclination towards healthier and more diverse snack options, reflecting evolving taste preferences. This trend is further fueled by a desire for convenience and variety in snack choices. As a result, the market for on-the-go snacks is experiencing significant growth, driven by a combination of changing consumer behaviors and socioeconomic factors.
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The Cheese-based Snacks Market is witnessing substantial growth, fueled by the preferences of urban consumers and the trend of Westernization in emerging countries. However, amidst the popularity of cheese snacks, concerns regarding health issues associated with processed foods are emerging, particularly among calorie cautious individuals. Major players like Mondelez are capitalizing on this trend by offering a variety of cheese snacks, including Parmesan, Mozzarella, and Cheddar options. There's also a growing demand for healthy cheese snacks, driving innovation in this segment.
Moreover, while urban customers increasingly seek convenient snacking options, including cheese snacks, there's a parallel trend towards healthier alternatives, such as Cheddar cheese. This shift reflects a broader consumer awareness of the importance of balanced nutrition. In response to these evolving consumer preferences, cheese snack manufacturers are expanding their presence through various store outlets, catering to the diverse tastes of consumers worldwide.
One of the key factors driving the global market growth is the evolving taste preferences. Shoppers' preferences for processed snacks are evolving. Young people are eager to try new options and are constantly looking 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 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 market during the forecast period.
The rising number of new product launches is one of the key 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 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 will increase the market growth and trends during the forecast period.
One of the key challenges to global market growth is the rising number of health problems. Increasing health effects associated with the consumption of high-calorie meals 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 meals. Lactose, found in cheese, such as all other milk products, is difficult to digest for several people. Consuming excess 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 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 Market Customer Landscape
Companies 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 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 players, 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 10.35 billion in 2018. 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.
Moreover, a discount store or convenience store is another form of organized retail that offers a variety 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
US-Cheese Market: US-Cheese Market by Source and Distribution Channel - Forecast and Analysis
Healthy Snack Market: Healthy Snack Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Japan, UK, Germany - Size and Forecast
Cheese Market: Cheese Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast
The Cheese Snacks Market is experiencing a surge in demand, with consumers increasingly seeking convenient and healthy snacks in retail locations such as supermarkets and hypermarkets. Major players like Pringles are expanding their range of flavors, catering to diverse preferences and enhancing hunger satisfaction. While sales and profit margins soar, cheese snack manufacturers face competition from alternative snacks like potato chips, pretzels, and popcorn. However, the appeal of protein-rich snacks and the nutritional benefits of cheese, including calcium and Vitamin B12, bolster the market.
Moreover, as the snacking culture evolves, there's a growing demand for cheese-based products, including cheese crackers, cheese crisps, and cheese straws. With the rise of e-commerce and online retail channels, manufacturers are tapping into this trend, offering a range of dairy-free snacks and plant-based cheese snacks to cater to a broader audience seeking essential nutrients without artificial additives. The relays market resembles a market snapshot with its diverse landscape. Like Pringles flavors, relays come in various types and configurations, catering to different needs. They are available in supermarkets and hypermarkets, where contactless payments ease transactions. Manufacturers ensure reliability, akin to Tetra Pak standards, offering premium products with flavors and textures tailored to specific applications.
Industry Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
Market growth 2024-2028 |
USD 4.64 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.94 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, Germany, UK, Canada, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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., Venkataramana Food Specialities Ltd., and Whisps Acquisition Corp. |
Market dynamics |
Parent market analysis, Market forecast, Market Forecasting 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. |
Customization purview |
If our market 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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