Parmesan Cheese Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.45 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Parmesan Cheese Market Analysis
Global Parmesan Cheese Market is projected to register a CAGR of 3.45% during the forecast period, 2022-2027.
The global parmesan cheese market is mainly driven by factors such as increasing demand for convenience & fast-food products from consumers across the world. The increasing number of applications of parmesan cheese while cooking is also driving its sales. It can be used in chunks, shaved over or grated into foods, cooked or uncooked. In recent times, it is especially being used as a flavourful agent in melted dishes such as soup and sauce recipes. In Italian cuisine, it is used as a topping for pasta and pizzas, and as a crucial ingredient in some sauces. Also, Parmesan cheese contains an almost negligible amount of lactose which is making it an option for the lactose-intolerant population as well. Thus, the wide versatility of parmesan cheese and the above-mentioned factors have increased the home consumption of parmesan cheese which thereby is increasing the demand for parmesan sales among consumers.
In addition, consumer demand and preference for parmesan cheese are rising owing to its complex flavor ranging from salty and nutty to even fruity and spicy depending on its age. This resulted in an increase in the production of parmesan cheese in 2021. For instance, according to CLAL, the total volume of Parmesan cheese produced in Italy featured a steady increase, reaching approximately 163.7 thousand tons by the end of 2021 which is 157.48 thousand tons in 2020. The parmesan cheese market is further gaining from increasing consumption of packaged cheese products across the world, which can be attributed to their immense popularity along with their extended shelf-life of parmesan cheese.
Parmesan Cheese Market Trends
This section covers the major market trends shaping the Parmesan Cheese Market according to our research experts:
Increasing Consumer Spending on Healthy and Functional Products
Increasing consumer awareness about the health benefits of parmesan cheese is stimulating sales. Parmesan cheese is highly nutritious. It's rich in protein, ready-to-use fat, and nutrients that support bone health. Its most notable nutritional characteristics include lots of protein and calcium as well as easy digestibility. Such functional features are increasing the demand for parmesan cheese among consumers. For instance, according to Agriculture and Agri-Food Canada, the retail market value of functional foods in India in 2019 is 4.24 USD billion which is 3.87 in 2018. Additionally, the popularity and prolonged shelf life of parmesan cheese are supporting the growth of the market. A whole, unopened block of parmesan cheese can last seven to nine months in the refrigerator, and a whole opened block of parmesan cheese will last one to two months. Moreover, in the United States, the Food and Drug Administration (FDA) states that any cheese with the same physical and chemical properties as parmesan may be labeled as Parmesan, regardless of the manufacturing location. This has created a lot more opportunities for the local players making it easily available for the consumers.
Europe Holds The Largest Market Share
In Europe, consumers use parmesan cheese primarily for grating. It is also best served in chunks on its own, with fresh fruit, or with a drizzle of aged balsamic vinegar. People in this region are spending more money on high-end healthy items like parmesan cheese due to the rising incidence of lifestyle diseases and growing consumer knowledge of variables linked to these conditions. The original Parmigiano-Reggiano (parmesan cheese) is produced within a strictly delineated region in Italy that includes the towns of Parma, Modena, and Mantua and part of Bologna. This makes parmesan cheese readily available for customers in Europe and in line with the availability, it has multiple uses as mentioned above because of which its sales are high in European countries. According to CLAL, for instance, parmesan cheese is the second highest-produced cheese type in Italy in the year 2021 with a production volume of 164 thousand tons.
Additionally, parmesan cheese comes with exceptional nutritional qualities. It is commonly considered a functional food by several consumers in the region owing to its association with health benefits and reduced disease risk which has increased its consumption. For instance, Europe has the highest level of per capita cheese consumption. According to CLAL, in 2021, people in the European Union ate on average 20.44 kilograms of cheese.
Parmesan Cheese Industry Overview
The market studied is competitive in nature. This is due to the presence of domestic and international players. Some of the major players in the market include Saputo Cheese USA Inc., Kraft Foods Group, Inc., 4C Foods, Kodai, and Nutoras. Most of these companies are actively involved in product innovation, and mergers and acquisitions. Also, the leading global companies occupy considerable shares of the industry. The aforementioned strategies enable these top players to sustain their dominance over other regional players in the industry.
Parmesan Cheese Market Leaders
-
Kraft Foods Group, Inc.
-
Saputo Cheese USA Inc.
-
Nutoras
-
Kodai
-
4C Foods
*Disclaimer: Major Players sorted in no particular order
Parmesan Cheese Market News
- In February 2022, Bel Brands USA, maker of beloved cheeses, Babybel, The Laughing Cow, Boursin, and more, announced the expansion of its product portfolio. Bel expanded its line-up of Nurishh plant-based offerings with new flavors and formats including parmesan-style shreds.
- In January 2022, Stella Cheese, on its milestone birthday, announced that the brand is going back to its roots to reintroduce two beloved classics that have stood the test of time: PDO-certified Parmigiano Reggiano and Grana Padano cheeses imported from northern Italy.
- In January 2020, BelGioioso Cheese, Inc. announced the launch of the newest addition to their snacking cheese line, individually wrapped portions of BelGioioso American grana parmesan cheese. The company claimed that this extra-aged parmesan snack is cut from huge 65-pound wheels that are aged for 18 months on wooden shelves.
Parmesan Cheese Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
-
4.3 Porter's Five Force Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Type
- 5.1.1 Cheese Blocks
- 5.1.2 Grated
- 5.1.3 Powder
-
5.2 By Distribution Channel
- 5.2.1 Supermarket/Hypermarket
- 5.2.2 Convenience Store
- 5.2.3 Online Stores
- 5.2.4 Other Distribution Channels
-
5.3 By Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 Germany
- 5.3.2.3 Spain
- 5.3.2.4 France
- 5.3.2.5 Italy
- 5.3.2.6 Russia
- 5.3.2.7 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
-
6.3 Company Profiles
- 6.3.1 Saputo Cheese USA Inc.
- 6.3.2 Kraft Foods Group, Inc.
- 6.3.3 4C Foods
- 6.3.4 Nutoras
- 6.3.5 Kodai
- 6.3.6 Milano's Cheese
- 6.3.7 Organic Valley
- 6.3.8 Cello cheese
- 6.3.9 BelGioioso Cheese, Inc.
- 6.3.10 Sargento foods
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
** Subject To AvailablityParmesan Cheese Industry Segmentation
Parmesan, also known as Parmigiano-Reggiano, is an Italian hard, granular cheese produced from cow's milk and aged at least 12 months. The parmesan cheese market is segmented by type, distribution channel, and geography. By type, the market is segmented into cheese blocks, grated, and powder. By distribution channel, the market is segmented as supermarkets and hypermarkets, convenience stores, online stores, and other distribution channels. By geography, this report includes analysis for regions like North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The report offers market size and forecasts in value (USD million) for the above segments.
| By Type | Cheese Blocks | |
| Grated | ||
| Powder | ||
| By Distribution Channel | Supermarket/Hypermarket | |
| Convenience Store | ||
| Online Stores | ||
| Other Distribution Channels | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| By Geography | Europe | United Kingdom |
| Germany | ||
| Spain | ||
| France | ||
| Italy | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Parmesan Cheese Market Research FAQs
What is the current Parmesan Cheese Market size?
The Parmesan Cheese Market is projected to register a CAGR of 3.45% during the forecast period (2024-2029)
Who are the key players in Parmesan Cheese Market?
Kraft Foods Group, Inc., Saputo Cheese USA Inc., Nutoras, Kodai and 4C Foods are the major companies operating in the Parmesan Cheese Market.
Which is the fastest growing region in Parmesan Cheese Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Parmesan Cheese Market?
In 2024, the Europe accounts for the largest market share in Parmesan Cheese Market.
What years does this Parmesan Cheese Market cover?
The report covers the Parmesan Cheese Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Parmesan Cheese Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Parmesan Cheese Industry Report
Statistics for the 2024 Parmesan Cheese market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Parmesan Cheese analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
