Enjoy complimentary customisation on priority with our Enterprise License!
The cheese based snacks market size is estimated to increase by USD 4,336.17 million and to grow at a CAGR of 5.2% between 2022 and 2027. 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 lifestyle changes, and the evolving taste preferences.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The evolving taste preferences are notably driving the market growth, although factors such as the 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 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 is expected to continue 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.
Get a glance at the market contribution of various segments View the PDF Sample
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 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.
For more insights on the market share of various regions Download PDF Sample now!
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.
Segment Overview
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market offers a range of options, including branded and private label products, catering to both organic and conventional preferences. These snacks come in various pricing tiers, from regular to premium and luxury, appealing to a wide range of consumers in households and the food services sector.
Amid the global pandemic, consumers are increasingly concerned about health, focusing on factors such as sodium levels, added sugar, vitamins, saturated fat, fiber, and protein content. The market has seen a rise in demand for nutritious foods like boiled eggs, whole grains, seeds, nuts, fruits, and low-fat dairy products, driven by a growing awareness of health risks like diabetes and chronic diseases.
Customer preferences are also influenced by per capita earnings, modernization, and employment status, with a trend towards online sales through internet channels. Brands are responding with innovative products like Curate Kids and the P3 protein snack product line, enhancing the market's appeal and competitiveness.
Cheese Based Snacks Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.2% |
Market growth 2023-2027 |
USD 4,336.17 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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., Whisps Acquisition Corp., and Venkataramana Food Specialities Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.