Global Cheese Snacks Market - 2022-2029

Global Cheese Snacks Market - 2022-2029:

Market Overview

Cheese Snacks Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 6.5% during the forecast period (2022-2029).

Cheese snacks are the type of snack food in which cheese is used as the main ingredient. Cheese snacks are available in different products, including pizzas, biscuits and crackers. Cheese snacks are popular in both children and adults due to their taste. Cheese snacks are an excellent source of minerals such as magnesium, calcium, iron, potassium, and cobalamin, all of which improve various bodily processes when consumed regularly. Cheese snacks are available in various shapes like cubes, sticks, and blocks with different flavors and attractive packaging. Cheese snacks are mostly consumed with drinks or dinner, such as wine or cold drinks. Multiple cheese snack brands in the market attract consumers to buy snacks that drive market growth. Changing eating habits, increasing trends in packaging food, and the availability of multiple brands in the market these factors are responsible for the cheese snacks market's growth in the forecast period.

Market Dynamics: An increase in awareness of the benefits of consumption of cheese snacks drives the market growth

Cheese is a rich source of energy, proteins, carbohydrates, calcium, sodium, saturated fatty acid and cholesterol. Regular consumption of cheese promotes bone health in the elder, children, and pregnant and lactating women. Calcium deficiency is the major factor responsible for osteoporosis. Cheese is a rich source of vitamin D and calcium that helps to maintain bone health. It may also help to reduce dental caries. Chewing cheese may increase the pH level of the mouth and promote overall oral health. In cheese, there is a low contain sodium that helps to maintain proper blood pressure. Vitamin B in cheese is also found to be useful in reducing high blood pressure. Cheese is rich in essential fatty acids like conjugated linoleic acid (CLA), which possess anticancer properties and prevent atherosclerosis development. Cheese is a good option for pregnant women with all the essential vitamins and minerals necessary for fetal development. Some types of cheese are known to boost the functioning of the immune system. Cheese snacks are widely liked by consumers due to their nutritional properties and easy availability in the market. Cheese snacks can be a good option for a meal replacement because they can eat anytime and anywhere. Frozen cheese snacks have a long shelf life that helps to grow the demand for cheese snacks.

However, high calories in the cheese snacks hamper the market growth of the cheese snacks market. Also, increasing health awareness of the harmful impact of high-calorie food consumption negatively impacted the market's growth. Due to diseases like diabetes, heart attack, etc., people are shifting towards healthy and organic food consumption, which is the major restrain of the cheese snacks market.

Market Segmentation: Frozen snacks segment accounted for the highest share in global cheese snacks market.

On the basis of product type, cheese snacks market can be segmented into baked, fried and frozen snacks.

Frozen snacks are the fastest growing segment in the forecast period due to increased consumer demand for fresh and homemade food products. Frozen snacks are the most acceptable to on-the-go customers who don’t have time for cooking but prefer healthy and homemade food. The shelf life of these products is good, and they can prepare quickly to maintain an optimal temperature, which means there is less chance of spoilage occurring before consumption. Increasing demand for frozen snacks due to the increasing preference from the working women is one of the best healthy food options to cook in less time.

On the basis of end user, cheese snacks market can be segmented into franchise outlets, bakery, hotels and restaurants, household, and others.

The household segment held a significant market share in the forecast period. Cheese snacks are used in the household as a side dish for lunch or dinner. These products can be consumed with chips, breadsticks, crackers, and other dishes that provide additional nutrients to the meal. Cheese snacks are available in different flavors and packaging, making them more popular among children and adults. An increase in the health consciousness of consumers attracts them to buy food products and eat at home with fresh preparation. The introduction of multiple cheese snack brands also surged the consumption of cheese snacks in the household. Moreover, increased demand for cheese snacks in household parties drives segment growth in the forecast period.

Geographical Penetration: North America is the dominating region during the forecast period.

North America is expected to generate the highest market share in the forecast period. The United States and Canada are the largest share contributed countries in the region. Some major key players expand their business in major countries like the United States and Canada. For instance, in November 2021, The Kraft Heinz Company completed its sales of certain assets in its global cheese business and the license of certain trademarks to an affiliate of Groupe Lactalis for total consideration of approximately $3.3 billion. Some key regional players follow a merger and acquisition strategy to expand their business. For instance, in May 2022, US-based company Sargento Foods acquired Baker Cheese Factory, Inc. Baker cheese is well known for its high-quality mozzarella string cheese, which is sold in all 50 states of the US. Some key players in the region launched a new product in the market that helps to grow the market in the forecast period. For instance, in Jul 2022, Kellogs Canada Inc. Launched a new product in the market named Cheez-It SNAP'd crackers. These are creamy, cheesy, thin, crispy crackers perfectly designed for evening munching. This product is the new flavor for the Canadian cheese lovers.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are The Kraft Heinz Company, Godrej Industries Limited, ITC Limited, Amy's Kitchen, Inc., General Mills, Inc., UTZ Quality Foods, LLC, Mars, Incorporated, Sargento Foods Incorporated, PepsiCo and McCain Foods, among others. Some major key players launched a new product to expand their business. For instance, in April 2020, Amy's Kitchen launched new gluten-free pizzas packed with vegetables. The new pizzas are available in cheese and spinach varieties. The new veggie pizza crust is made from organic cauliflower, sweet potato and broccoli topped with slow-simmered tomato sauce and mozzarella cheese. The cheese pizza is made with organic tomatoes and extra virgin olive oil and contains 310 calories, 19 grams of protein and 3 grams of fiber per serving. Some major key players follow merger and acquisition strategies to expand their business. For instance, in July 2021, General mills completed the acquisition of Tyson Foods' Pet Treats Business for $1.2 billion in cash. The business includes the Nudges, Top Chews and True Chews brands and is the leader in natural meat treats for pets. This acquisition helps to grow the product portfolio of the General mills. In February 2022, Utz Brands acquired a 125,000-square-foot snack food manufacturing plant in Kings Mountain, North Carolina, from Evans Food Group Ltd. for $38.4 million. Utz's portfolio of products includes potato chips, tortilla chips, pretzels, cheese balls and other products.

COVID-19 Impact:

Positive impact on the global cheese snacks market.

The COVID-19 pandemic is positively impacted the global cheese snacks market. North America market witnessed a surge in sales of cheese snacks in 2020 owing to an increasing snacking culture towards cheese in houses during lockdown and panic buying in the early days with fear of potential shortages. United States consumers consume high per capita of cheese and cheese snacks during work-from-home situations. Increase the demand for packaged food like cheese snacks in Covid pandemic because consumers prefer to eat at home to reduce the rate of contact with other people and lower the chance of being exposed to Covid -19. Increasing demand for functional snacks is the key factor driving the growth of the cheese snacks market. Moreover, changing eating habits and awareness about packaged food drive the market growth in the covid pandemic.

The global cheese snacks market report would provide an access to approximately 69 market data tables, 66 figures and 170 pages