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Cheese Snacks Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global cheese snacks market was valued at USD 34.3 billion in 2022 and is projected to expand at a CAGR of 6.6% from 2023 to 2030. Cheese snacks are gaining popularity among consumers, especially millennials, owing to their convenience, nutritional content, and delicious taste. Moreover, the growing demand for healthy snacks is driving the cheese snacks market. Cheese snacks are made from a variety of ingredients such as cheese, nuts, grains, and vegetables, which makes them a healthy snack option. Furthermore, the growing number of cheese snack product launches is expected to boost market growth.
The increasing trend of snacking culture and the growing consumer preference for products that offer convenience and portability are driving the demand for cheese snacks. The growth of the market can also be attributed to the rising demand for processed cheese. Cheese snacks are available in a variety of shapes and sizes and are also available in a variety of flavors. Furthermore, the increasing demand for cheese snacks in the hospitality sector is also expected to drive the market.
The increasing demand for cheese snacks, such as cheese puffs, cheese balls, and cheese curls, is expected to drive market growth. In addition, the growing demand for cheese snacks in the retail sector is also propelling the market. Moreover, the growing demand for value-added cheese snacks is also expected to boost the market. For instance, in March 2021, Mondelez International launched a new line of cheese snacks under its popular SnackFut brand. The new line of snacks includes cheese curls, cheese balls, and cheese puffs.
Furthermore, the increasing demand for organic and natural cheese snacks is also driving the market. Companies are introducing organic products to cater to the changing consumer preferences. For instance, in June 2021, Amul launched a new range of organic cheese snacks under the brand name ‘Amul Natural’. The range includes cheese straws, cheese bites, and cheese cubes. The products are made from natural ingredients and are free from preservatives.
The increasing availability of cheese snacks in the convenience and kiosk stores is also driving the market. Moreover, the growing number of online stores is also boosting the market. Furthermore, the increasing demand for cheese snacks in the foodservice sector is also expected to support the growth of the market. For instance, in October 2021, The Kraft Heinz Company entered the foodservice sector by launching a line of cheese snacks under its brands, including Velveeta, Kraft Natural Cheese, and Cheez-It.
Product Insights
The cheese snacks segment accounted for the largest market share in 2022. Increasing demand for cheese snacks owing to their convenience, portability, and tasty flavor profile is driving the segment’s growth. According to an article published by Cheese Reporter, in October 2019, cheese snacks are a hit among millennials, with sales rising by 7.1% in 2018 over the previous year. Moreover, the growing health consciousness among consumers is expected to propel the demand for cheese snacks as they are considered a healthier alternative to other snack items.
The dairy-based snacks segment is likely to expand at the highest CAGR of 8.5% over the forecast period. The growth of the segment is attributed to the increasing awareness about the health benefits of dairy-based snacks, especially among children. Furthermore, the rising demand for dairy-based snacks due to their superior taste and the increasing population of health-conscious individuals are some of the other factors fueling the segment’s growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 41.3% in 2022. The growth of the segment is mainly driven by the rising consumer preference towards supermarkets & hypermarkets as a primary source to purchase food products. According to a study by FoodNavigator in 2020, the majority of consumers prefer supermarkets & hypermarkets for purchasing cheese snacks as it provides a wide variety of brands, flavors and price points in a single location.
The online segment is expected to expand at the highest CAGR of 12.6% over the forecast period. The increasing penetration of the internet and rising consumer preference towards online shopping are anticipated to propel the growth of the segment. Furthermore, many companies are providing discounts and deals to attract customers and offer convenience and convenience to purchase their products. For instance, in 2021, Amazon launched Amazon Pantry, a service that offers customers the convenience of buying their favorite cheese snacks online.
Type Insights
The natural cheese snacks segment is estimated to be the largest segment in terms of revenue in 2022. The increasing demand for healthy and natural food products are driving the market for natural cheese snacks products. Moreover, the rising awareness about health and wellness among consumers is further driving the demand for cheese snacks products. Additionally, the growing popularity of natural cheese snacks such as mozzarella sticks and cheddar cheese cubes among the millennial population is propelling the growth of this segment.
The processed cheese snacks segment is expected to expand at the highest CAGR of 8.2% during the forecast period. The development of new and innovative flavors such as Italian herb, garlic, and onion by various companies is driving the demand for processed cheese snacks. Moreover, the convenience of purchasing processed cheese snacks is further driving its demand. For instance, in May 2020, Arla Foods introduced a new range of processed cheese snacks under the brand name of ‘kaasstengels’ in the Netherlands. This range includes flavors such as original, herb, and onion.
Regional Insights
Europe is expected to dominate the market and account for the largest revenue share of over 46.7% in 2022. The growing popularity of cheese snacks among the health-conscious population in the region is a key factor driving the growth of the market. Moreover, the rising demand for convenience food products among consumers has resulted in an increased demand for cheese snacks. For instance, in April 2021, Mondelez launched a range of cheese-flavored snacks, such as ‘Cheese Bites,’ in the U.K. and Ireland.
Asia Pacific is expected to witness the fastest growth in the coming years. This can be attributed to the rising disposable income of consumers in the region and the increasing popularity of cheese snacks among the younger population. Additionally, rapid urbanization and the changing lifestyle are expected to contribute to the market growth in the region. For instance, in August 2021, PepsiCo launched cheese-flavored snacks in India under the ‘Cheetos’ brand.
Financial Projections
In this part of the cheese snacks products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your cheese snacks products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a cheese snacks products business comes from product sales and distribution. Here you will find a list with a description of each of them and other possible sources of profit such as advertising, promotions, and sponsorships.
Projecting Expenses
In this section, all the regular expenses related to keeping the cheese snacks products business running will be described. The list of operating expenses includes raw materials, packaging materials, wages, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the cheese snacks market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Frito-Lay launched a new line of cheese snacks, including cheese puffs, cheese balls and cheese curls.
– In August 2022, Kraft Foods Group launched the Velveeta Cheesy Bites, a line of cheese snacks that are pre-portioned and ready-to-eat.
– In October 2022, Sargento Foods Inc. launched the Balanced Breaks line of cheese snacks, which are single-serve packs of cheese and crackers.
Some of the prominent players in the cheese snacks market include:
– Frito-Lay
– Kraft Foods Group
– Sargento Foods Inc.
– Bel Brands USA
– Cabot Creamery Cooperative
– Saputo Inc.
– General Mills
– Murray’s Cheese
– Tillamook Cheese Factory
– Dairy Farmers of America
Global Cheese Snacks Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cheese snacks products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Crackers
– Cheese Bites
– Cheese Puffs
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Cheese Snacks Market?
[A]: Cheese snacks manufacturers are investing heavily in product innovation to provide consumers with different types of cheese snacks. Innovation in the cheese snacks market includes the introduction of new flavors, improved texture, better packaging, and convenience. Additionally, manufacturers are also investing in the expansion of product portfolio, which is expected to further support the growth of the market.
[Q]: Who are the Key Players in the Cheese Snacks Market?
[A]: The key players in the cheese snacks market include Kraft Heinz, Nestlé, Mondelēz International, The Laughing Cow, Lactalis, and Dairy Farmers of America.
[Q]: Which Region Offers the Largest Opportunity for Sales of Cheese Snacks?
[A]: The Asia Pacific region is expected to provide the largest opportunity for cheese snacks sales, with a projected value of $10.7 B (USD).
[Q]: What are the factors driving the cheese snacks market?
[A]: Factors such as increasing demand for convenience foods, growing disposable income in developing nations, and increasing health-consciousness among consumers are expected to drive the growth of the cheese snacks market. Additionally, the increasing availability of vegan cheese snacks is expected to provide further impetus to market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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