Parmesan Cheese Market - Snapshot
Parmigiano-Reggiano or Parmesan cheese refers to a granular, hard cheese produced from the milk of cow. Parmesan cheese needs to be aged for 12 to 36 months. It is a very rich source of fat and protein, which makes it suitable for consumption by people lacking both. This type of cheese is also rich minerals and vitamins, which is likely to bolster growth of the global parmesan cheese market in the forthcoming years. Parmesan cheese comes with high content of the following
- vitamin A
- vitamins B6 and B12
Changes in the lifestyle of consumers across the developing parts of the world, such as Asia Pacific and Latin America, is resulting in the growing affinity toward bakery, dairy, and other such food products. The dairy industry is estimated to come up with a rising number of innovative food products that cater to the high demand for on the go products together with products that are sourced locally. This factor is predicted to propel development of the global parmesan cheese market in the near future.
Demand to Ride on the Back of Consumer Spending on Premium Healthy Products
The growth of the global parmesan cheese market is predicted to be influenced by the spiraling growth of the packaged parmesan cheese, thanks to the popularity and prolonged shelf life of parmesan cheese in the fast food sector.
A rise in the consumption of high-end cheese products is likely to be one of the important trends in the global parmesan cheese market. In the last few years, it has been observed that premium food items are gaining considerable significance, thanks to rising disposable income and augmented health consciousness of today’s consumers. These days, people are more aware of the rising incidences of various lifestyle diseases and reasons that could possibly cause such conditions. This knowledge has triggered people making investment in premium healthy products, such as parmesan cheese, thereby driving the growth of the global parmesan cheese market in the forthcoming years.
Global Parmesan Cheese Market: Overview
Changing consumer lifestyle especially across emerging economies is leading to increasing inclination of consumers towards dairy, bakery and other food products. Dairy industry is witnessing increased number of product launches catering to the demand for advanced on the go products along with locally sourced products. Since, parmesan cheese originated from northern Italy, the parmesan cheese market is expected to witness steady growth in the European region during the forecast period. The growth of the cheese powder market is led by blue cheese powder and parmesan cheese powder. Lately, there has been a significant increase in demand for the parmesan cheese owing to its fresh, natural ingredients and authentic flavours. Consumer’s expectation for high-quality, sauces, soups and dressings for better ethnic cheesy taste, texture, and appearance has led to high demand for the parmesan cheese. Parmesan cheese is extensively used in the form of grated over pastas, risottos and soups. Parmesan cheese comes in many varied flavours such as fruity, nutty, savoury, sharp fancy shredded parmesan, shaved Italian blend, shaved parmesan and shredded Italian blend.
Global Parmesan Cheese Market: Drivers and Restraints
The global parmesan cheese market is mainly driven by factors such as increasing demand for convenience & fast food, different product offerings by cheese manufacturers, rapidly changing lifestyles of people across the globe, among others. Continuous innovations and development among key market players is bringing new growth opportunities for the parmesan cheese market. However, the rising in awareness among the masses regarding the harmful-effects of cheese is restricting the growth of the cheese market.
Among, the different applications, demand for parmesan cheese is expected to remain dominant in the sweet and savoury snacks segment and is further expected to record significant growth during the forecast period. Furthermore, increasing adoption of parmesan cheese among consumers especially inclined towards ready to eat meals to offer specific cheese flavour and enhance flavours to the meal is expected to spur the global parmesan cheese market growth.
Global Parmesan Cheese Market: Segmentation
On the basis of application, parmesan cheese market is segmented into:-
- Sauces and Dips
- Sweet and Savoury snacks
On the basis of product type, parmesan cheese market is segmented into:-
On the basis of flavour, parmesan cheese market is segmented into:-
On the basis of distribution channel, parmesan cheese market is segmented into:-
- Supermarket/ Hypermarket
- Convenience Stores
- Specialty Food Retail Stores
Global Parmesan Cheese Market: Region wise Outlook
The Global parmesan cheese market is divided into seven regions, namely Latin America, North America, Asia Pacific excluding Japan (APEJ), Eastern Europe, Western Europe, Japan and Middle East and Africa (MEA). Asia-Pacific region is projected to be the fastest-growing market. With the presence of fast food chains and increased demand for ready to eat meals in the emerging economies like India and China, a positive impact is expected to be witnessed upon the demand for cheese products during the forecast period. Followed by Japan, which is anticipated to drive the demand for parmesan cheese in the next five to six years. This is attributed to growing number of cheese manufacturers, in the region catering to the needs and requirements of the consumers.
Global Parmesan Cheese Market: Key Players
Some of the prominent players identified in the global parmesan cheese market includes:
- Kerry Group PLC
- Bright Dairy and Food Co.
- Lactosan A/S
- Kraft Foods Group, Inc.
- Archer Daniels Midland Company
- Aar Kay Food Products Ltd.
- Dairiconcepts, L.P.
- All American Foods
- Commercial Creamery Company
- Kane grade Limited
- Bluegrass Dairy and Food, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.