NEW YORK, June 28, 2024 /PRNewswire/ -- The global cheese based snacks market size is estimated to grow by USD 4.64 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.31%  during the forecast period. Growing demand for on-the-go snack consumption is driving market growth, with a trend towards rising number of new product launches. However, rising number of health effects  poses a challenge. Key market players include 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..

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Market Driver

The global cheese based snacks market experiences growth due to the introduction of new products. Notable launches include PepsiCo Inc.'s permanent addition of Cheetos Crunchy Buffalo crisps in the US, and Kellogg's Co.'s introduction of Flavors-Kickin' Sour Cream, Spicy BBQ, and Cheese & Chilli Pringles. These new offerings expand vendors' product segments and attract a broad consumer base, contributing to market expansion and revenue growth for companies like ITC Limited, Mars Inc., McCain Foods Ltd, and Parle Products Pvt. Ltd. 

The Cheese Snacks market is experiencing significant growth, with various players introducing new and innovative products. Crackers, chips, and flavored snacks are popular choices in this category. Markets for cheese snacks in the US, Europe, and other regions continue to expand. Consumers prefer convenient and portable options, leading to an increase in demand for cheese-based snacks. Cheese snacks are also gaining popularity as a healthier alternative to traditional snacks due to their high protein and calcium content. Companies are focusing on creating crispier textures and adding unique flavors to attract customers. The market for cheese snacks is expected to grow further in the coming years. 

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Market Challenges

• The consumption of cheese-based snacks poses health concerns, including increased cholesterol levels, heart disease risk, high blood pressure, and kidney disease. These snacks are high in calories, sodium, and lack fiber, leading to weight gain, digestive issues, and constipation. These health impacts hinder the growth of the global cheese based snacks market.
• The Cheese Snacks Market faces several challenges. Consumers seek convenient and portable options, leading to high demand for processed and packaged cheese snacks. However, this trend raises concerns about health and nutrition. Calories and sodium levels in many cheese snacks are high, making it essential for manufacturers to offer healthier alternatives. Sourcing quality milk and maintaining consistent cheese production are also challenges. Additionally, increasing competition and the need for innovation to differentiate products are key issues. Procurement of raw materials, pricing pressures, and regulatory compliance add to the market complexities. Overall, the Cheese Snacks Market requires continuous innovation and adaptation to meet consumer demands while addressing health and sustainability concerns.

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Segment Overview 

This cheese based snacks market report extensively covers market segmentation by  

1. End-user 
   • 1.1 Retail
   • 1.2 Food service
2. Type 
   • 2.1 Baked
   • 2.2 Fried
   • 2.3 Frozen
3. Geography 
   • 3.1 North America
   • 3.2 Europe
   • 3.3 APAC
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 Retail-  The retail sector, led by hypermarkets, supermarkets, and grocery stores, dominates the distribution of cheese-infused snacks. Organized retail's expansion increases sales of these products due to their extensive shelf space and storage capacity. Shoppers prefer these large stores for convenience and discounts. Discount stores and convenience stores, though smaller, also contribute with a wide range of offerings. Urbanization and rising disposable income are driving consumers towards these channels, benefiting local cheese snack manufacturers and fueling market growth.

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Research Analysis

The Cheese Snacks Market has experienced significant growth, particularly among urban consumers who value convenience and Westernized tastes. Taste preferences lean towards varieties such as Parmesan, Mozzarella, and Cheddar. However, health issues and calorie consciousness are emerging concerns for calorie-cautious individuals. Processed foods, including cheese snacks, have been linked to various health problems. As a result, the demand for healthy cheese snacks is on the rise. In emerging countries, store outlets are expanding to cater to this trend. Innovative flavors like Cheese and Chilli are gaining popularity, offering consumers a delightful snacking experience while addressing their health concerns.

Market Research Overview

The Cheese Based Snacks market represents a significant portion of the global snack industry. These snacks, which include cheese puffs, cheese crackers, cheese strings, and cheese dips, among others, are popular for their savory and satisfying taste. The market is driven by various factors, including increasing consumer preference for convenient and portable food options, growing demand for natural and organic snacks, and the rise of e-commerce platforms for online sales. Additionally, advancements in cheese production technology and the introduction of innovative product offerings continue to shape the market landscape. Consumers worldwide enjoy cheese snacks as a tasty and versatile alternative to traditional snack options.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• • Retail
  • Food Service
• Type
• • Baked
  • Fried
  • Frozen
• Geography
• • North America
  • Europe
  • APAC
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio