USD 68.48 billion
Cheese Snacks Market Size, Share, Growth Analysis, By Type(Mozzarella, Parmesan, Cheddar, Feta), By Sales Channel (Supermarket and Hypermarket, Convenience Stores, Online, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2327 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|Tables:
66
|Figures:
75
Cheese Snacks Market Insights
Cheese Snacks Market size was valued at USD 68.48 billion in 2022 and is poised to grow from USD 72.79 billion in 2023 to USD 118.68 billion by 2031, growing at a CAGR of 6.3% during the forecast period (2024-2031).
One of the major driving forces behind the cheese-based snack market's expansion is the variety of lifestyles that urban consumers lead. By relocating, expanding, and reinforcing their brands, product makers attempt to meet consumer demand, propelling the market's expansion. The rising consumption of cheese snacks around the world is also attributed to changes in taste and increased westernization. In addition, factors including the rising prevalence of health issues linked to the use of processed foods and the rise in the number of people watching their calories are projected to restrain market growth.
Urban consumers' changing demand is anticipated to be among the key factors boosting market growth over the forecast period. The worldwide cheese snack market has benefited from the coronavirus outbreak. The way consumers perceive snacks has changed significantly over the past two years, and it appears that the COVID-19 pandemic has only accelerated these changes. In difficult circumstances, consumers prefer to gravitate for relaxed delights and are encouraged to eat more snacks. According to a study by Mondelez, 88% of respondents liked snacking or eating the same amount throughout the COVID-19 epidemic, and 52% of adults worldwide agreed that it had been a "lifeline" during the pandemic.
Cheese has become a demand for snacks because it gives otherwise bland dishes a salty depth. Customers prefer cheese snacks because of their nutritious value and convenient market availability. Some of the popular cheeses that are used to produce cheese snacks are parmesan, mozzarella, and cheddar. Cheese snacks are becoming more popular as a growing number of brands are made available in developing nations. As a result, these countries have a strong demand for western food, which is anticipated to fuel market expansion. There is a need to increase the amount of retail locations in order to fuel the market for cheese snacks. The demand for cheese snacks is driving up the supply of healthy cheese snacks on the market.
For instance: In 2021, Kellogg's Co., introduced three new Pringles flavors: Kickin' Sour Crème (Medium), Spicy BBQ (Hot), & Cheese & Chili (Extra Hot). The introduction of these three flavors aided the business in gaining more clients. By focusing on the cheese snacking industry and snack consumption, certain prominent firms are already generating significant sales and profit margins. Snacks are more likely to satisfy hunger in children and teenagers than meals. In the market for cheese-based snacks, the introduction of outstanding cheese as a side dish has recently created a positive stir.
US Cheese Snacks Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cheddar
Fastest Growth
Cheddar
Growth Rate
6.3% CAGR
Global Cheese Snacks Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Cheese Snacks Market Segmental Analysis
The global cheese snacks market is segmented into type, and region. Based on type, the market is segmented into Mozzarella, Parmesan, Cheddar, Feta, and Others. Based on sales channel, the market is segmented into supermarket and hypermarket, convenience stores, online, others. Based on region the global cheese snacks market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Cheese Snacks Market Analysis Foam Type
The category for cheddar is anticipated to have the largest CAGR during the projection period, at 6.7% in 2022. One of the easy methods to give snacks a creamy and cheesy flavor is to use cheddar cheese. Cheddar cheese is frequently chosen for snacks since the majority of its constituent parts have a variety of health benefits. Few items are as beloved worldwide as cheddar cheese snacks, which frequently come in first place in surveys of people's favorite cheese snacks, claims research from Tetra Pak. Although it just overtook mozzarella in terms of consumption, cheddar is still a popular choice for snacks.
The market's largest segment by market share, mozzarella, is anticipated to expand at a CAGR of 6.4% during the forecast period. This is a result of both the increased demand for high-protein cheeses like mozzarella and the rising demand for mozzarella cheese in the food industry for the production of various food products. Due to its versatility and nutritional value, mozzarella cheese is frequently used in Italian and American appetizers because it melts quickly and has a distinctive flavor. According to Kostyo, mozzarella is intriguing in a variety of appetizers due to its unique flavor and characteristics.
Cheese Snacks Market Analysis by Sales Channel
Supermarkets and hypermarkets accounted for over 70% of the market, and it is predicted that they would continue to dominate the industry at a 6.2% CAGR during the forecast period. Since they are conveniently located and frequently run promotions and discounts, supermarkets are the preferred choice for many shoppers. Supermarkets everywhere have a big influence on people's eating habits. The way that snack food items are arranged in supermarkets and hypermarkets may encourage heavy consumption. The rapid expansion of supermarkets in numerous developing countries may have an impact on consumer food preferences and, consequently, nutritional results.
The online market is predicted to grow significantly (7.7% CAGR) during the projection period. Almost fifty percent of snack customers now shop online, per a Mondelez survey. The internet industry is one of the possibilities for purchasing snacks with the fastest growth, despite the fact that it is still fairly small. The increase in internet and cell phone users, especially in developed countries, has boosted the category growth. In addition, online marketing tools like social media & Google Ads are crucial for influencing consumer decisions. Since consumers are placing greater confidence and trust in e-wallets as well as online purchases, contactless payments are expected to maintain a substantial market share despite the epidemic.
Global Cheese Snacks Market By Type
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Cheese Snacks Market Regional Insights
The Asia Pacific region, which is anticipated to expand at a 6.7% CAGR between 2022 and 2030, held the largest market share in 2022. As individuals in this region grow to become healthier and educated about the types of food they should consume and the diets that should adhere to, there is an increased demand for healthy snacks. Consumption occasions have grown dramatically, with Asia Pacific experiencing the largest growth in this area. The consumers in this region prefer prepackaged snacks to quicker food preparation methods. Consumers are switching from eating unpackaged snacks at home or buying traditional market snacks from different sites like food bikes or trucks to buying packaged snacks as this region develops with modern merchants.
North America is forecast to grow at a CAGR of 6.3% throughout the projection period. People in North America consume snacks on a regular basis, and if they make good choices, they can contribute to their daily nutrient requirements. In North America, the vast round-the-clock consumer consumption of extruded goods is a major factor in the sector's expansion. Customers' growing need for distinctive snack flavors, shifting family compositions, and rising preference for accessibility are the main factors impacting market growth in the U.S.
Global Cheese Snacks Market By Geography
- Largest
- Fastest
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Cheese Snacks Market Dynamics
Cheese Snacks Market Drivers
Increasing Consumer Awareness about Protein-rich Snacks
- Cheese is a good source of protein, and with the growing emphasis on healthy snacking, consumers are seeking protein-rich snack options. Cheese snacks, which often contain a significant amount of cheese, provide a satisfying and protein-packed snack choice.
Cheese Snacks Market Restraints
Competition from Alternative Snacks
- The cheese snacks market faces competition from a wide range of alternative snack options, such as potato chips, pretzels, nuts, and popcorn. Consumers have diverse snacking preferences, and the availability of various snack choices can impact the market share of cheese snacks.
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Cheese Snacks Market Competitive Landscape
Players are focusing on improving the taste and quality of the products to appeal to consumers who are health-conscious in order to stay competitive in the industry. Babybel, a plant-based cheese snack in the form of mozzarella, was unveiled in April 2022 by Bel Brands USA. This novel snack is a good source of calcium and vitamin B12 and was created to taste like mozzarella cheese. With its distinctive packaging, this product was thought to be recognizable as a plant-based one.
Cheese Snacks Market Top Player’s Company Profiles
- General Mills, Inc. (Bugles, Chex Mix)
- The Kraft Heinz Company (Cheez Whiz)
- Sargento Foods Inc.
- Tine SA
- Diamond Foods, LLC (Kettle Brand)
- Mars, Incorporated (Combos)
- Grupo Bimbo S.A.B. de C.V. (Barcel)
- McCain Foods Limited (Mojo's, Smiles)
- Universal Robina Corporation (Jack 'n Jill)
- Pladis Global (Jacob's)
- Herr Foods Inc. (Herr's)
- The Hain Celestial Group, Inc. (Sensible Portions)
- Old Dutch Foods Inc.
- Wise Foods, Inc.
- Utz Brands, Inc.
- Calbee, Inc.
- Intersnack Group GmbH & Co. KG
Cheese Snacks Market Recent Developments
- In June 2022, Mars and Perfect Day, a startup in food technology, partnered. As a result of this partnership, Mars would introduce CO2COA, its first chocolate product without the use of animals, in the US. Customers can purchase the most recent CO2COA chocolate, which offers velvety smooth, lactose-free, environmentally friendly chocolate.
- In May-2022, Utz Brands joined forces with the Needham-based business Grillo's Pickles. In accordance with this arrangement, Utz would introduce a brand-new, momentary potato chip product. Additionally, this collaboration would give Utz the chance to market its own distinctive Utz Cheese Balls.
Cheese Snacks Key Market Trends
- Growing demand for healthier and clean-label options: Consumers are increasingly seeking healthier snack choices, including cheese snacks. There is a rising demand for cheese snacks that are made with natural and clean-label ingredients, free from artificial additives and preservatives. Manufacturers are responding to this trend by offering healthier variants with reduced fat, lower sodium content, and organic or non-GMO certifications.
- Rising popularity of flavored and gourmet cheese snacks: The market is witnessing a trend of flavored and gourmet cheese snacks that offer unique and indulgent taste experiences. Manufacturers are introducing innovative flavors and combinations, such as spicy, savory, and exotic cheese varieties, to cater to consumers' evolving taste preferences. Gourmet and artisanal cheese snacks are gaining traction among consumers looking for premium and high-quality options.
- Increased focus on snacking convenience and portability: Convenience is a key factor driving the cheese snacks market. Consumers seek on-the-go snack options that are easy to carry and consume. Single-serve and portion-controlled cheese snack packs, resealable packaging, and snack-size formats are gaining popularity as they offer convenience, portability, and portion control.
- Growing popularity of plant-based cheese snacks: The rising demand for plant-based alternatives is influencing the cheese snacks market. Consumers following vegetarian, vegan, or lactose-free diets are seeking plant-based cheese snacks made from ingredients like nuts, soy, or vegetables. Manufacturers are introducing plant-based cheese alternatives to cater to this growing segment of health-conscious and environmentally conscious consumers.
Cheese Snacks Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global cheese snacks market analysis, the variety of lifestyles that urban consumers lead is the key growth driver. By relocating, expanding, and reinforcing their brands, product makers attempt to meet consumer demand, propelling the market's expansion. The rising consumption of cheese snacks around the world is also attributed to changes in taste and increased westernization. In addition, factors including the rising prevalence of health issues linked to the use of processed foods and the rise in the number of people watching their calories are projected to restrain market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 68.48 billion |
| Market size value in 2031 | USD 118.68 billion |
| Growth Rate | 6.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cheese Snacks Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cheese Snacks Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cheese Snacks Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cheese Snacks Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cheese Snacks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cheese Snacks Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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