PUBLISHER: Allied Market Research | PRODUCT CODE: 1415002
PUBLISHER: Allied Market Research | PRODUCT CODE: 1415002
According to a new report published by Allied Market Research, titled, "Cheese Sauce Market," The cheese sauce market was valued at $5.4 billion in 2022, and is estimated to reach $7.1 billion by 2032, growing at a CAGR of 2.9% from 2023 to 2032.
The growth of the cheese sauce market is driven by increase in consumption of fast food items, such as pasta, pizza, and burger, in quick-service restaurants (QSRs). Moreover, longer shelf life of cheese sauce products, rise in disposable income, and surge in demand for food products rich in protein content boost the market growth. However, alarming obesity rates coupled with rise in health consciousness among adults, unhealthy additives & ingredients in processed cheese, and perishable nature of cheese products act as major restraints of the market.
The spread of fast-food chains and quick-service restaurants globally is making cheese sauces a popular addition to various menu items. This global trend is boosting the use of cheese sauces, reaching more people in different places. As fast-food places expand globally, they are including cheese sauces in many different dishes, making them more widely available. It not only adds to the variety of food options but also introduces more people to the goodness of cheese sauces.
On the contrary, cheese with low-fat content is gaining significant popularity. This is achieved by manipulation of its rheological & chemical properties. This leads to desirable characteristics and a longer shelf life to cheese products, providing numerous opportunities for market expansion during the forecast period.
Today's consumers, especially millennials and Generation Z, prefer food that is both convenient and nutritious. To obtain the most nutritional benefits for the body, more emphasis is being placed on healthy eating habits and balanced diets. The European Union classifies cheese as a functional food due to the numerous health benefits associated with its consumption. It contains a lot of protein, healthy fats, calcium, vitamin A, B6, and B12 vitamins, as well as phosphorus, zinc, and copper. Cheese is also less lactose and easier to digest.
Lactose intolerance is a clinical disorder in which the body is not able to properly digest lactose, a form of sugar found within milk, resulting in ailments such as stomach cramps, diarrhoea, and gastrointestinal discomfort. Although Parmesan cheese sauce contains little lactose, it can cause discomfort in lactose intolerant individuals. Lactose intolerance is becoming more common worldwide, and it can occur at any age. Market growth is being hampered as a result of this. Furthermore, parmesan cheese is high in sodium. Five grams of parmesan cheese contain 76mg of sodium, making the cheese's sodium concentration very high. Because of its high sodium content, many consumers are avoiding parmesan cheese.
Cheese sauce has grown in popularity in recent years. However, the global vegan population has grown dramatically. According to a report by Grubhub, a leading prepared food delivery service in the U.S., orders for plant-based food and beverages increased by 17%. Many market participants, including a few new entrants, are including plant-based cheese made from cashews, soy, coconut, and almonds in their product offerings.
The cheese sauce market is segmented on the basis of type, source, end user, distribution channel and region. By type, the market is divided into cheddar, mozzarella, parmesan, american cheese, blue cheese, provolone, gouda, montero jack, and others. By source, the market is divided into organic and conventional. By end user, the market is divided into households, restaurants, cafes, hotels, corporate canteen, fast food joints, and others. By distribution channel, the market is segmented into convenience stores, hypermarkets/supermarkets, specialty stores, direct, online channels, and others. Region-wise, the market is analysed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Russia, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, South Korea, Indonesia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and the rest of LAMEA).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their reputation in the ever-competitive market. Some of the key players in the cheese sauce market include Nestle S.A., Campbell Soup Company, Conagra Brands, Inc., The Kraft Heinz Company, Kerry Group plc., Unilever Plc., TreeHouse Foods, Inc., Gehl Foods, LLC., AFP Advanced Food Products, LLC., and Tatua.