The global cheddar cheese market is projected to grow at a CAGR of 4.1% during the forecast period (2019-2024).
- Cheddar cheese is considered a healthy, wholesome food with several nutritional attributes. Besides great taste and significantly extended shelf life, cheddar cheese contains several rich nutrients that are essential to maintain the metabolism of the human body.
- Moreover, the concentrated form of cheddar cheese is rich in high milk protein content, milk fats, minerals, and vitamins. Protein content in cheddar cheese is the most demanding flavoring ingredient in different food products, which is boosting the cheddar cheese market, globally.
Scope of the Report
The global cheddar cheese market is segmented by form, type, and distribution channel. On the basis of form, the market is segmented into block, crumbled, and spreadable. On the basis of type, the market is segmented into natural and processed. On the basis of distribution channel, the market is segmented into supermarket/hypermarket, convenience stores, specialty stores, online retail stores, and other distribution channels. Also, the study provides an analysis of the cheddar cheese market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Key Market Trends
Increasing Consumer Preference for Natural Cheddar Cheese
Natural cheese has been dominating the overall cheese category for much of the past decade. The trend has also translated into positive growth for natural cheddar cheese. Much of this growth in the natural cheddar cheese category has been because of two overarching trends: increased consumption of cheese in the foodservice industry and increased consumption as snacking cheese. With innovative recipes and culinary trends becoming popular across the world and because of increased internationalization of continental and American cuisines, cheddar cheese consumption by the foodservice industry has seen an upswing over much of the review period. Smaller restaurants are observed to be consuming larger retail packs and this stimulates growth in the "block" form of cheddar cheese.
The product and packaging innovations by producers to enable consumption of cheese as a snack, either as-it-is or in combination with other snack ingredients is expected to boost the market for cheddar cheese over the forecast period. Coupled with these snacking trends, consumers’ willingness to spend on natural, clean-label, organic and similar ingredients is projected to be an important factor impacting the growth of the natural cheddar cheese category over the forecast period.
North America Dominates the Global Market
Although the major market in the region, the United States experienced a slowdown in retail sales, the region still accounts for a major share of the global cheddar cheese market. The consumption of cheddar cheese in the region is driven by its almost ubiquitous presence in American cuisine. The snacking habit with respect to cheese has also been a prominent factor impacting positive market growth over the review period. Companies are increasingly focused on launching innovative products as cheese snacks. For instance, Dairy Farmers of America added habanero cheddar and extra sharp white cheddar to its popular brand, Borden Snack Bars.
The global cheddar cheese market is highly fragmented with global market players competing fiercely with local and regional players. The companies actively operating in this market include Arla Foods Limited, Dairy Farmers of America, Fonterra Cooperative Group, Kraft Heinz, among others.
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