Portland, Jan. 12, 2024 (GLOBE NEWSWIRE) --
Allied Market Research published a report, titled, “Cheese Sauce Market by Cheese Type (Cheddar, Mozzarella, Parmesan, American Cheese, Blue Cheese, Provolone, Gouda, Montero Jack, and Others), Source (Organic, Conventional), End User (Households, Restaurants, Cafes, Hotels, Corporate Canteen, Fast Food Joints, Others) and Distribution Channel (Convenience Stores, Hypermarkets/Supermarkets, Specialty Stores, Direct, Online Channels, Others): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global cheese sauce market generated $5,351.2 million in 2022 and is expected to reach $7,110.2 million by 2032, registering a CAGR of 2.9 % from 2023 to 2032.
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Prime determinants of growth
An increasing number of fast-food joints and continental restaurants is one of the major factors driving the growth of the global cheese sauce market. The rising number of nuclear families in developing countries and the increasing popularity of fast food such as pizza, burgers, pasta, and others among consumers, particularly children is expected to be another key factor boosting the growth of the market. Companies are developing new cheese sauce types and tastes that are enticing customers and are expected to increase sales in the future.
Overconsumption of cheese can set an individual at a greater risk of heart disease since the high sodium levels raise blood pressure and saturated fat elevates bad cholesterol leading to obesity and cardiovascular diseases. Consumers are gradually shifting their preferences toward other delicacies that are not made of cheese and can offer health benefits on consumption. The shift in preferences in consumers is expected to lower sales and hamper the growth of the cheese sauce market in the future. Nevertheless, manufacturers are intensively capitalizing to regain the consumers' attention by launching different flavored cheese in the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $5,351.2 Million |
| Market Size in 2032 | $7,110.2 Million |
| CAGR | 2.9% |
| No. of Pages in Report | 654 |
| Segments covered | Type, source, end user, distribution channel, and Region |
| Drivers |
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| Opportunities |
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| Restraints |
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The cheddar segment to maintain its leadership status throughout the forecast period
Based on type, the cheddar segment held the highest market share in 2022, accounting for around 25% of the global cheese sauce market revenue, and is estimated to maintain its leadership status throughout the forecast period. Demand for cheese sauce is increasing due to growing consumer awareness and health concerns. Consumers are increasingly aware of the environmental and health benefits of cheese sauce, which is driving the demand for these products. Hence, these factors are fueling the cheddar segment in the cheese sauce market. However, the Montero Jack segment is projected to manifest the highest CAGR of 3.5% from 2023 to 2032.
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The conventional segment to maintain its leadership status throughout the forecast period
By source, the conventional segment held the highest market share in 2022, accounting for half of the global cheese sauce market revenue, and is estimated to maintain its leadership status throughout the forecast period. The demand for the conventional segment in the cheese sauce market is rising due to its convenience and versatility. Conventional cheese sauce provides consumers with a convenient and easy-to-use option for sandwiches, burgers, and snacks.
The cafes segment to maintain its leadership status throughout the forecast period
Based on the end user, the cafe segment held the highest market share in 2022, accounting for one-fifth of the global cheese sauce market revenue, and is estimated to maintain its leadership status throughout the forecast period. The demand for the cheese sauce market has increased in cafes as consumers are increasingly seeking unique and high-quality experiences, not only in terms of coffee but also in the overall cafe ambiance and menu offerings. Specialty and artisanal coffee options, such as single-origin beans, unique brewing methods, and craft coffee blends, have gained popularity. Cafes that focus on providing a distinctive and premium coffee experience are expected to attract and retain customers.
The hypermarket/supermarket distribution segment to maintain its leadership status throughout the forecast period.
By distribution channel, the hypermarket/supermarket segment held the highest market share in 2022, accounting for more than one-fourth of the global cheese sauce market revenue, and is estimated to maintain its leadership status throughout the forecast period. Consumers are increasingly interested in diverse and unique flavor profiles, and this extends to the cheese sauce category. Hypermarkets and supermarkets are responding to this trend by expanding their offerings to include a variety of artisanal and specialty cheese sauces. These products often feature premium or unique cheese blends, incorporating ingredients such as aged cheddar, gourmet Swiss, or exotic cheese varieties.
Europe to maintain its dominance by 2032
By region, Europe held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global cheese sauce market revenue. European consumers are becoming more health-conscious, and many are adopting flexitarian or plant-based diets. This shift is prompting the food industry, including the cheese sauce market, to respond with innovative and healthier alternatives. Hypermarkets, supermarkets, and other distribution channels in Europe are projected to witness a surge in the availability and promotion of plant-based cheese sauces to cater to this evolving consumer preference.
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Leading Market Players: -
- Nestle S.A.
- Campbell Soup Company
- Conagra Brands, Inc.
- The Kraft Heinz Company
- Kerry Group plc.
- Unilever Plc. T
- reeHouse Foods, Inc.
- Gehl Foods, LLC.
- AFP Advanced Food Products, LLC.
- Tatua
The report provides a detailed analysis of these key players in the global cheese sauce market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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