In the recent years, the chemical industry has seen significant changes. It went through a period of technological disruption, which brought with it new opportunities and challenges. Chemical processing innovation has exploded, assisting businesses in improving their bottom lines. The new Isobutyraldehyde market research report outlines the key factors that will impact production, supply, and...
Cheese is a byproduct of processed curds, which is processed further for varieties of textures, flavors and aroma. Some of the more popular variants of cheeses include blue cheese, mozzarella, feta, and cheddar, which can be sourced from a range of animals including cows, sheep, goats, and buffalo.
The global cheese industry is projected to display a sluggish CAGR in the forecast period through 2022, even as retail sales have been struggling to increase growth rates. This is especially true of the bulk of processed cheese variants, while unprocessed cheese will find more success in terms of sales and revenue.
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Incorporation in Convenience Foods Sustains Growth
The demand for convenience foods with a wide range of flavor profiles and ingredients is on the rise, and different types of cheese have become a popular ingredients in these products. This factor is widely considered to be the primary cause of the growth of cheese consumption worldwide.
In addition, cheese is also a popular and easy to use flavor adding ingredient for people who are increasingly subject to a hectic lifestyle. Changes in food habits, innovations in products, novel marketing campaigns, and attractive packaging formats are also expected to have a positive impact on the cheese market participants.
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Health Concerns Restrict Revenues from Cheese Production
Some of the major players in the global cheese industry include Sargento Foods Inc., Arla Foods, Modelez International, Savencia SA, Associated Milk Producers, and Fonterra Cooperative Group Limited among others.
Whiles all of these participants have been benefiting from the popularity of cheese as a food ingredient, increasing health awareness among consumers, especially among the rising obese populace, the consumption of cheese has been steadily declining, associated with increased health risks such as high cholesterol and cardiac arrests.
In addition, the global economy has been facing numerous uncertainties which is also restricting the spending of consumers on cheese for the near future. Further, North America, will contribute extensively to the growth of the cheese market, and will dominate the industry in terms of demand, followed closely by countries in Europe.
Retail Issues Create Challenges for Manufacturers
Most cheese sales on a global scale are associated with retail channels, and health concerns have been restricting the sales of processed cheeses. However unprocessed variants are rapidly gaining in terms of popularity.
In addition, the cheese market is also witnessing a rapid influx of flavors and cheese varieties, which creates substantial issues in terms of shelf space for retailers. Manufacturers and retailers have been struggling to find a balance between giving cheese fair amounts of shelf space for adequate recognition of various varieties, without having to compromise on the sales generation.
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In addition, retailers continue to focus on their own branded offerings and promotions, which creates challenges for growth for producers who do not have their own dedicated retail channels of distribution. Consequently, it becomes important for cheese producers to develop partnerships with retailers on their varied offerings to meet consumer needs.