Published on : Mar 15, 2016
The expanding fast food industry and the rising disposable income of consumers are the prime factors fuelling the global cheese market. In addition, the growing urbanization and the trend of eating out is also propelling the market for cheese. For meeting the growing needs of consumers, the major manufacturers have been debuting new products and are emphasizing on convenience and flavor.
There are a number of trends presently see in the market. These trends are poised to change the overall market dynamics of the global cheese market. Some of these trends are as follows:
- Shifting Trend towards Authenticity: According to a survey, around 62% of American consumers are more inclined towards purchasing food produced locally. People are keener on knowing the production procedure of the product and whether it was sustainably manufactured. In addition, transparency is a major factor which holds a great importance, particularly for millennials, willing to expend more on sustainable specialty foods.
- Inclination towards Flavored Cheese: It has been predicted that the cheese which is uniquely flavored are predicted to outperform in the coming years on the basis of both dollar sales and volume owing to the fact that consumers seek for ways to try something new. It has been found that the consumption of flavored cheese has went up by 4.5% on the basis of volume sales. On the other hand, unflavored cheese have experienced a comparatively less demand. Thus, flavors such as herbs, jalapeno, berries, and garlic in cheese will be highly demanded in the coming years.
- Increasing Sophistication in Snacks: It has been observed that snacks have outperformed the category of packaged goods. A number of American consumers have been on the lookout for convenient ways for adding in high-quality proteins into their diets. Thus, products such as teriyaki and parmesan beef, aged cheddar crackers, and mozzarella ball snack packs are likely to highly proliferate in developed countries.
The inclination towards cheese curds is on the rise. In addition, the manufacturers of cheese have been perfecting the aging process of cheese and are seen returning to more conventional ways for the aging of the cheese manufactured by them. Furthermore, a number of new shredded cheese blends are being manufactured for their consumption in particular applications including homemade flatbread, etc. All these factors will augment the growth of the global cheese market.