LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global processed cheese market is expected to grow at a CAGR of close to 3% during the forecast period.
“Fast food restaurants and outlets, dine-in restaurants, and households are key users of cheese. Thus, increase in fast food services across the world is expected to positively impact the global cheese market.”
This research report titled ‘Global Processed Cheese Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “Fast food restaurants and outlets, dine-in restaurants, and households are key users of cheese. Thus, increase in fast food services across the world is expected to positively impact the global cheese market.
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The market research analysis categorizes the global processed cheese market into four major product segments. They are:
- Processed cheese slices
- Processed cheese blocks
- Processed cheese spreads
- Canned processed cheese
Processed cheese slices
Processed cheese slices are commonly used in burgers and sandwiches. These slices are easy to incorporate and pair with countless ingredients. The slices of these processed cheeses are filled directly into a plastic foil and are sold as individually wrapped slices (IWS). Players like Kraft, Lactima, Président Cheese, Britannia, Anchor, Bega Cheese, and GCMMF (Amul) are popular for processed cheese slices. As the popularity of fast food is increasing, especially in emerging countries, the demand for processed cheese slices is likely to increase during the forecast period.
Processed cheese blocks
Processed cheese blocks have a close resemblance to natural cheese in terms of hardness, sliceability, and shredability. This category is suitable for pizza toppings and other shredded or sliced applications. The production of processed cheese blocks takes place in batch cookers, and the cheese mass is made into blocks. Further, herbs and spices can be added to the blocks to bring a flavor profile to the cheese product. Popularity of processed cheese blocks among foodservice manufacturers is high owing to its high melting property and smooth taste. Thus, they are used in baked foods like blueberry cheesecake, strawberry cheese tarts, apple pie, or baked pasta. Players manufacturing processed cheese blocks are Britannia, Schreiber & Rupp, GCMMF (Amul), Go Cheese, and HAPPY COW CHEESE.
Processed cheese spreads
Processed cheese spreads are often identified as being smooth and having a spreadable consistency. These can be mixed with ingredients like ham, herbs and spices for taste and flavor. These spreads are filled in tubes, beakers, or jars or wrapped in foil as portions. The dry matter content (DM) of processed cheese spreads is in the range of 33%-50%, while fat in dry matter (FIDM) is in the range of 20%-60%. Processed cheese portions are one of the popular forms of processed cheese spreads that are used for bread and as snacks. Players like Lactima, Velveeta, The Laughing Cow, and Britannia are popular for processed cheese spreads.
Canned processed cheese
Canned processed cheese is gaining popularity because it does not require refrigeration and has a long shelf life. The increasing demand for convenient food is a factor that is likely to help the growth of the canned processed cheese segment during the forecast period. This category is popular in the Middle East and Australia. Players like Kraft, Bega Cheese, and HAPPY COW CHEESE are manufacturing canned processed cheese.
“Awareness of protein as an essential nutrient that contributes to overall health has resulted in consumers increasingly looking to include protein in their diet to achieve optimal nutrition. A one-ounce piece of mozzarella cheese (whole milk) has 0.05 pounds of protein. Cheese therefore caters to the protein needs of a wide cross-section of consumers globally,” says Manjunath.
The top vendors highlighted by Technavio’s food and beverage market research analysts in this report are:
- Arla Foods
- Bel Group
- Fonterra Food
- Kraft Heinz
- Lactalis Group
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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