PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1453992
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1453992
According to Stratistics MRC, the Global Cheese Sauce Market is accounted for $5.68 billion in 2023 and is expected to reach $7.94 billion by 2030 growing at a CAGR of 4.9% during the forecast period. Cheese sauce is a creamy and savoury condiment made from melted cheese combined with ingredients like milk, butter, and seasonings. It is a versatile accompaniment used in various dishes. The sauce adds richness and flavor, enhancing the taste of the dishes it accompanies. With its smooth texture and indulgent taste, cheese sauce has gained popularity in both home cooking and commercial foodservice settings. It offers convenience and versatility, catering to the growing demand for easy-to-use and flavourful culinary solutions in the modern food industry.
According to the Canadian Dairy Information Center, per capita consumption of cheese in Canada was valued at 12.7 kg in 2015, which further increased to 13.4 kg in 2016.
Growing popularity of cheese-based snacks and appetizers
Consumers worldwide are increasingly drawn to the rich and indulgent taste of cheese, leading to a surge in demand for cheese-centric culinary offerings. From traditional favourites like nachos and loaded fries to innovative creations like cheese-filled spring rolls and cheesy popcorn, the versatility of cheese-based snacks knows no bounds. This trend is particularly pronounced in the Asia-Pacific region, where the adoption of western cuisine and snacking culture is on the rise. As a result, the demand for cheese sauces to complement these snacks continues to escalate, driving market growth.
Health concerns
Health concerns related to cheese sauce primarily revolve around its high fat and calorie content. The indulgent nature of cheese sauce may deter health-conscious consumers who are mindful of their dietary intake, especially those watching their cholesterol and fat intake. Additionally, concerns about lactose intolerance and dairy allergies restrict the market's reach among certain consumer segments. As health and wellness trends continue to gain momentum, the perceived unhealthy reputation of cheese sauce could hinder its market growth.
Rising consumer preference for ready-to-use & easy-to-prepare food products
As modern lifestyles become increasingly fast-paced, consumers seek convenient meal solutions that require minimal time and effort in preparation. Cheese sauce fits this demand perfectly, offering a quick and hassle-free way to add flavor and richness to various dishes. With busy schedules and hectic routines, consumers value the convenience and simplicity that ready-to-use cheese sauce provides, making it a favoured choice for home cooking, snacking, and dining occasions, thereby driving growth in the cheese sauce market.
Competition from alternative dipping sauces and condiments
Consumers have a wide array of options beyond cheese-based condiments, including salsa, guacamole, and various types of dips. These alternatives offer different flavor profiles and cater to diverse taste preferences, thereby diverting consumer attention and reducing the market share of cheese sauces. Additionally, health-conscious consumers may opt for lighter or healthier alternatives, further impacting the demand for cheese sauces.
Covid-19 Impact
The covid-19 pandemic significantly impacted the cheese sauce market. With lockdowns and restrictions on dining out, there was a surge in demand for convenience foods, including cheese sauces, as consumers cooked more at home. However, disruptions in the food supply chain led to challenges in sourcing ingredients and production. Additionally, the closure of restaurants and foodservice outlets affected bulk purchases of cheese sauce. Despite initial setbacks, the market witnessed a gradual recovery as manufacturers adapted to changing consumer preferences and focused on product innovation to meet evolving demands for taste and convenience.
The mozzarella cheese sauce segment is expected to be the largest during the forecast period
The mozzarella cheese sauce segment is estimated to have a lucrative growth. Mozzarella cheese sauce is a creamy and flavourful sauce made primarily with mozzarella cheese, along with other ingredients such as milk, butter, and flour for thickening. It is a versatile sauce that can be used in various dishes, including pasta, pizza, vegetables, and as a dipping sauce for breadsticks or chips. The cheese melts into a smooth and velvety texture, providing a rich and indulgent flavor to any dish it's added to. Mozzarella cheese sauce is popular for its mild and slightly tangy taste, making it a favourite among cheese lovers.
The ready-to-eat meals segment is expected to have the highest CAGR during the forecast period
The ready-to-eat meals segment is anticipated to witness the highest CAGR growth during the forecast period. Cheese sauce is a popular addition to many ready-to-eat meals, providing a creamy and flavourful element to dishes like macaroni and cheese, nachos, and vegetable gratins. It adds richness and depth of flavor to the meal, enhancing the overall taste experience. Its convenience and versatility make it a beloved component of many pre-packaged meals, offering consumers a quick and delicious dining option.
Asia Pacific is projected to hold the largest market share during the forecast period driven by evolving consumer tastes and increasing adoption of western cuisines. Rapid urbanization, rising disposable incomes, and changing lifestyles have spurred the demand for convenience foods, including cheese sauces. The expansion of the foodservice industry, particularly in fast-food chains and casual dining restaurants, has further fuelled market growth. Additionally, the growing influence of global food trends and the adoption of cheese-based snacks and appetizers contribute to the market's expansion.
North America is projected to have the highest CAGR over the forecast period, owing to the region's deep-seated love for cheese-based foods. Factors such as busy lifestyles and a growing preference for convenience foods drive the demand for ready-to-use cheese sauces. The popularity of fast-food chains, sports events, and movie nights also contributes to the market growth. Additionally, the presence of key players continuously innovating with new flavours and packaging solutions further propels market expansion.
Key players in the market
Some of the key players profiled in the Cheese Sauce Market include Gehl Foods LLC, Ricos Products, Conagra Brands, Kerry Group, Bay Valley Foods, Nestle, Frito-Lay Inc., Cremeitalia, Campbell Soup Company, Knorr, Prego, Kraft Heinz Company, Simplot Food Group, Simply Organic, Tres Latin Foods, Foothill Farms and Berner Food & Beverage.
In March 2023, Cheese brand Cremeitalia expands its portfolio with four new exotic dips. The new product portfolio consists of The Ranch, Oregano Spice Mix, Chipotle and African Peri. Made with premium milk, Cremeitalia's new dips offer a burst of flavour combined with creamy goodness.
In March 2022, Simply Organic, a pioneer in organic herbs, spices, flavors and seasonings, launched the latest kitchen must-haves with its new simply organic vanilla bean paste and dairy-free cheese sauce mixes. These new vegan and Certified Gluten-Free cheese sauce mixes are the first shelf-stable, all-organic cheese sauce mixes to amplify any dish.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.