The global individual quick frozen (IQF) cheese products market was valued at USD 5.1 billion in 2022 and is projected to grow at a CAGR of 5.5% from 2023 to 2030. The increasing demand for convenience foods is driving the growth of the market. The growing trend of frozen food consumption is also expected to boost the growth of the market. The convenience of having pre-prepared cheese products is making them popular among consumers, especially among the working-class population.

In addition, the evolution of IQF technology has made it easier to handle and store frozen cheese products, thereby driving the market. This technology helps in preserving the natural texture and flavor of cheese, providing a high-quality product to the end-users. Furthermore, the rising demand for cheese products from restaurants, cafes, hotels, and other foodservice outlets is propelling the market growth.

The growing demand for processed cheese products such as cheese cubes and slices, among others, is aiding the growth of the market. Furthermore, the increasing popularity of pizza, burgers, and sandwiches is driving the demand for frozen cheese products. The increasing demand for vegan cheese alternatives is one of the major factors driving the growth of the market. For instance, in February 2021, Follow Your Heart, a vegan food company, launched a vegan cheese alternative made from coconut oil and potato starch.

Furthermore, the rising trend of premiumization is expected to drive the market growth. Manufacturers are focusing on launching innovative products to introduce premium cheese products in the market. For instance, in February 2021, Alpina Foods launched a premium range of IQF cheese products, including cheddar, mozzarella, monterey jack, and pepper jack. The company is focusing on introducing innovative flavors and packaging designs to attract customers.

The increasing number of health-conscious consumers is further driving the growth of the market. The rising awareness of low-fat cheese products, such as skim milk cheese, is aiding the market growth. Furthermore, the rising trend of home delivery and online shopping of frozen cheese products is expected to boost the market growth. The availability of various flavors and varieties of cheese products on e-commerce platforms is driving the demand from the online segment.

Individual Quick Frozen (IQF) cheese products have been gaining traction in the market and accounted for a share of around 21.3% in 2022. Increasing demand for convenience food and growing demand from the foodservice industry are some of the major factors driving the IQF cheese products market. Moreover, rising health consciousness among consumers has shifted the focus towards low-fat products, thus boosting the demand for reduced fat IQF cheese products. According to an article published by the National Dairy Council in 2019, over 95% of Americans are aware of the health benefits associated with dairy products, and more than two-thirds view dairy as an important part of a healthful diet. Furthermore, increasing demand for frozen cheese products from the food manufacturing industry is also driving the market growth.

The supermarkets and hypermarkets segment captured the major share of over 40.7% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards purchasing frozen cheese products from supermarkets & hypermarkets as a primary source. According to a study by the International Dairy Food Association in 2021, supermarkets are the leading source of frozen cheese products among shoppers, followed by convenience stores and discount stores. Supermarkets & hypermarkets offer a wide range of frozen cheese products including pre-packaged slices and shredded cheese, as well as cheese-based pizzas, quesadillas, and other frozen meals.

The online segment is anticipated to expand at the highest CAGR of 14.6% over the forecast period. The growth of the segment is attributed to the increasing penetration of the Internet and the rising number of online stores offering frozen cheese products. Companies are actively investing in the development of their online platforms to target potential customers and increase their brand visibility. In addition, online stores offer convenience and discounts that attract consumers, further driving the segment growth.

The IQF cheese segment accounted for the largest revenue share of 54.7% in the year 2022. The growing acceptance of convenience-based foods among consumers, mainly due to their busy lifestyles, is driving the demand for IQF cheese products. Furthermore, the presence of a wide variety of IQF cheese products, such as mozzarella, cheddar, and parmesan, is expected to fuel the segment growth. Moreover, the increasing demand for ready-to-eat meals from fast food restaurants is also boosting the market for IQF cheese products.

The grated cheese segment is projected to expand at the highest CAGR of 15.4% over the forecast period. This is attributed to the growing demand for grated cheese products due to their easy availability and longer shelf life. Additionally, the increasing demand for pre-seasoned grated cheese products from consumers is driving the segment growth. Furthermore, rising demand from foodservice and catering service providers is expected to contribute to the growth of the segment.

Europe dominated the market and accounted for the largest revenue share of over 40.0% in 2022. This is majorly attributed to the presence of leading players such as Nestlé, Unilever, and Dreyer’s Grand Ice Cream in the region. Furthermore, the growing trend of convenience food among consumers is driving the market growth in the region. For instance, in January 2021, Nestlé launched its frozen pizza range to meet the growing demand for convenience food.

Asia Pacific is expected to witness the fastest growth in the coming years. The rising population, especially in India and China, is driving the demand for convenience food. Moreover, the increasing disposable income of people in the region is likely to fuel the market growth. For instance, in April 2021, Nestlé launched its frozen food products in India, which is expected to help the company gain traction in the market.

In this part of the individual quick frozen (IQF) cheese products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecast include cash flow projections and capital requirements for your IQF cheese products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for an IQF cheese products business comes from sales of IQF cheese products to customers. This includes sales of individual cheese products as well as bulk orders for catering, restaurants, and other food service providers. Other possible sources of profit include the sale of related products such as cheese sauces and dips, and the sale of promotional merchandise.

Projecting Expenses
In this section, all the regular expenses related to keeping the IQF cheese products business running will be described. The list of operating expenses includes raw cheese material cost, packaging costs, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the individual quick frozen cheese products 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 July 2022, Kraft Heinz Company launched a new line of frozen cheese products featuring individually wrapped slices of cheese.

– In August 2022, Sargento Foods launched a new line of individually quick frozen cheese products in a variety of flavors.

– In September 2022, Land O’Lakes Inc. launched a line of individually quick frozen cheese cubes in a variety of flavors.

Some of the prominent players in the individual quick frozen cheese products market include:

– Kraft Heinz Company
– Sargento Foods Inc.
– Land O’Lakes Inc.
– Dairy Farmers of America
– Bel Group
– Lactalis Group
– Saputo Inc.
– Arla Foods
– Adams Foods
– Leprino Foods Company

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 individual quick frozen (IQF) cheese products market based on product, type, distribution channel, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Cheddar
– Mozzarella
– Feta
– Brie
– Gouda
– Others

2. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Shredded
– Cubes
– Blocks

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Players in the Individual Quick Frozen Cheese Products Market?
[A]: The major players in this market are Nestle S.A., Cargill Inc., Dairy Farmers of America Inc., Kraft Foods Group Inc., Saputo Inc., Schreiber Foods Inc., and Fonterra Co-operative Group Ltd.

[Q]: What are the Factors Driving Growth of the Individual Quick Frozen Cheese Products Market?
[A]: Factors such as the increasing demand for convenience food, the growing popularity of frozen food, rising urbanization, and the increasing disposable income of consumers are some of the key factors driving the growth of the individual quick frozen cheese products market.

[Q]: What are the Opportunities Available in the Individual Quick Frozen Cheese Products Market?
[A]: The individual quick frozen cheese products market is expected to witness significant opportunities due to the growing demand for health and convenience foods. Also, the increasing trend of customization is expected to provide new opportunities for the market players.

[Q]: What is the Regional Outlook of the Individual Quick Frozen Cheese Products Market?
[A]: North America is expected to be the largest market for individual quick frozen cheese products, followed by Europe and Asia Pacific. The increasing awareness about health benefits associated with frozen food and the presence of a large number of food manufacturers in the region are expected to drive the growth of the market.

[Q]: What are the Challenges Facing the Individual Quick Frozen Cheese Products Market?
[A]: The high cost associated with frozen food and the lack of awareness about the nutritional benefits of frozen food are some of the major challenges facing the individual quick frozen cheese products market. Also, the rising competition in the market is expected to further challenge the growth of the market.