Parmesan Cheese

Parmesan Cheese

Global Parmesan Cheese Market to Reach US$21.2 Billion by 2030

The global market for Parmesan Cheese estimated at US$16.9 Billion in the year 2023, is expected to reach US$21.2 Billion by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030.

The U.S. Market is Estimated at US$4.3 Billion While China is Forecast to Grow at 4.8% CAGR

The Parmesan Cheese market in the U.S. is estimated at US$4.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 4.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.3% and 2.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.0% CAGR.

Global Parmesan Cheese Market - Key Trends and Drivers Summarized

Parmesan cheese, or Parmigiano-Reggiano, is a hard, granular cheese that originates from the Parma, Reggio Emilia, Modena, and parts of the Mantua and Bologna regions in Italy. Made from cow`s milk, it is one of the world`s most popular and oldest cheeses, with a rich history dating back to the Middle Ages. Parmesan is known for its intense flavor and complex production process, which involves aging the cheese for a minimum of 12 months, although many cheesemakers age it for 24 months or longer to develop its distinctive nutty flavor and crumbly texture. This cheese is often used grated over pastas, used in soups and risottos, or eaten on its own as a snack.

The production of Parmesan cheese is highly regulated to ensure quality and authenticity. It must adhere to strict guidelines set by the Consorzio del Formaggio Parmigiano-Reggiano, which include using milk from local cows fed according to a precise diet to maintain flavor consistency. The process of making Parmesan involves natural whey culture and calf rennet, and the cheese must be aged in controlled environments within the specific regions of Italy designated for Parmesan production. This geographical indication (GI) status not only preserves the traditional methods and flavors but also protects the product name against misuse or imitation elsewhere in the world.

The growth in the Parmesan cheese market is driven by several factors, including the rising global demand for gourmet and premium foods, increasing awareness of the nutritional benefits of Parmesan, such as its high calcium and protein content, and growing consumer preference for authentic, traceable, and region-specific products. Rising cheese consumption due to changing consumer preferences and tastes continues to be a primary driver for the parmesan cheese market. Additionally, the expansion of international cuisine and the inclusion of Parmesan in various new culinary dishes across different cultures have broadened its appeal and market reach. The trend toward organic and natural foods also contributes to the growth of this market, as consumers are increasingly looking for products with no additives or preservatives, which aligns well with the traditional production methods of Parmesan cheese. These factors collectively stimulate both domestic and international demand, securing Parmesan`s position in global cheese consumption trends.

Select Competitors (Total 59 Featured) -

• Archer Daniels Midland Company
• Glanbia PLC
• DMK Deutsches Milchkontor GmbH
• Alpenrose Dairy, Inc.
• DairiConcepts LP
• Aarkay Food Products Ltd.
• Food International Nz Limited
• Elk Foods Pty Limited
• Fromagerie L`AncAªtre inc
• BONI S.p.A.
• Dairynnection
• All American Foods
• Galaxy Nutritional Foods
• Cultures for Health Inc.
• 4C Foods Corp.

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