Market Trends of Parmesan Cheese Industry
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.
