The U.S. Cheese market is expected to witness significant growth due to expansion of quick-service restaurants.
PORTLAND, OR, UNITED STATES, October 28, 2020 /EINPresswire.com/ — U.S. Cheese Market by Type and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” The U.S. cheese market size was valued at $34.3 billion in 2019, and is projected to reach $45.5 billion by 2027, growing at a CAGR of 5.25% from 2020 to 2027.
• Bioactive protein of cheese helps improves the immune resistance of the body required to fight the novel corona virus. Due to this factor the demand for cheese has been surged during the Covid-19 pandemic outbreak.
• In addition, the change in eating habits of the consumers as they now prefer eating nutritious food, to boost the immune system have further increased the demand for cheese during the pandemic.
• However, the disruption in economic activities and closure of non-essential commercial establishments like restaurants, hotels, sweet shops, and bakeries declined the demand.
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Cheese is a popular dairy product consumed in the U.S. for its luscious taste and nutritional benefits. It is available in varying flavors, depending on the source of milk, aging time, production process, and cheese making technique. Increase in fast food consumption and rise in awareness among people about the health benefits of cheese have propelled the demand for cheese products. Moreover, surge in popularity of European food culture in the U.S. is the major factor that drives the U.S. cheese market growth.
Furthermore, immigrants have the habit of carrying their culture wherever they migrate, which has a significant impact on the modern food culture of the U.S. For instance, pasta and pizza are common food consumed in the U.S. With upsurge in demand for cheese, advancements in technologies in the cheese industry have led to rapid curing of cheese. Different flavors of cheese available in the market, improvement in quality of cheese, and various other enhancements have been done to meet the demand of cheese across the U.S.
Surge in demand for protein rich food and growing number of quick service restaurants drive the growth of the U.S. cheese market. However, surging obesity rate restrains the market growth. Furthermore, growing consumption of fast food products due to fast paced life style is expected to provide new growth opportunities for the market player in near future.
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The International Organization for Standardization (ISO), Food and Drug Administration (FDA), International Dairy Foods Association, and World Health Organization (WHO) are some of the regulatory authorities operating in the U.S. are involved in performing quality checks of cheese.
However, rise in concern of people toward their health due to cheese consumption, perishable nature of cheese, and lack of proper storage facility are the key restraints of the cheese market. On the contrary, with innovation in cheese making techniques, low-fat, and low-cholesterol cheese are manufactured to meet the demands of health-conscious people, which drive the growth of the market.
On the basis of type, the market is segmented into parmesan, swiss, asiago, fontina, romano, mascarpone, gorgonzola, feta, cheddar, and others (pepper jack, mozzarella, and colby). In 2019, the cheddar cheese segment experienced the highest growth rate, accounting for more than 30.06% U.S. cheese market share, owing to its delectable taste. Moreover, increase in fast food consumption, where cheddar cheese is mostly used, is the key factor that fuels the growth of the cheddar cheese segment.
The major players analyzed in this report are Arla Foods, Associated Milk Products Inc, The Bel Group, Bletsoe Cheese, Fonterra Co-operative Food, Royal Frieslandcampina N.V, The Kraft Heinz Company, Lactalis Group, Old Fashioned Cheese Inc, and Saputo Cheese USA Inc.
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Key Findings Of The Study
• The U.S. cheese market was valued at $34.3 billion in 2019, and is projected to reach $45.5 billion by 2027, growing at a CAGR of 5.25% from 2020 to 2027.
• Based on type, the mascarpone segment is expected to witness rapid growth, registering a CAGR of 20.11% during the forecast period.
• Based on distribution channel, the retail distribution segment held the highest share in the market in 2019.
• Based on U.S. cheese market type segment, mozzarella segment held the highest share in the U.S. cheese industry.
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Source: EIN Presswire