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..
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Cheese Based Snacks
Market Scope
|
Report
Coverage
|
Details
|
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 4645.1
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
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
|
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 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.
Research report provides comprehensive data on impact of trend.
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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.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This cheese based snacks market report extensively covers market
segmentation by
- End-user
- 1.1 Retail
- 1.2 Food service
- Type
- 2.1 Baked
- 2.2 Fried
- 2.3 Frozen
- 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.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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
-
- Type
-
- 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