Jul 7, 2020 4:12 PM ET
iCrowd Newswire – Jul 7, 2020
Global Natural Cheese Market is expected to grow at a CAGR of 4.10%. In the recent years, natural cheese market has witnessed substantial innovation in terms of new products launch with various products along with the research & development and company collaborations. Also, evolving economic standards and social habits coupled with trend of fast-food consumption has considerably impacted the growth of in-store restaurants, take-away shops, or pub- restaurants. Additionally, socio-economic factors, demographic trends, changing dietary pattern, industrial players focusing on youth marketing considering the food habits of youth are certain factors supporting the growth of natural cheese market during the forecast period.
The popularity of ready to eat food is driving the market for natural cheese as a major ingredient in food products. Additionally, fresh cheese, along with soft and hard cheese finds wide application in the food sector. Moreover, natural cheese is used in various ready-to-eat meals, convenience foods and fast-foods which are widely consumed on a global level. The rising application and consumption of natural cheese is likely to surge in the demand for natural cheese.
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Furthermore, high focus on R&D and advancements in technology has led to innovations in natural cheese flavors which are found to be attracting the consumers globally. Also, the retail and foodservice industries are seeing innovations in natural cheese flavors as a major opportunity for expanding their natural cheese market. Additionally, inclination of consumers towards trying new natural cheese flavors in their daily diet is fueling up the growth of global natural cheese market.
Major Key Players
This report includes a study of strategies used in the market, mergers, and acquisitions in natural cheese market, multiple product launch by natural cheese market players. It further includes product portfolios and developments of leading major players which includes
- Almarai Company (U.S.)
- Arla Foods (Denmark)
- Fonterra Co-operative Group Limited (New Zealand)
- Associated Milk Producers Inc. (U.S.)
- Koninklijke FrieslandCampina N.V (the Netherlands)
- The Kraft Heinz Co. (U.S.) and
- Lactosan A S (Denmark)
Major manufacturers are found to have high focus on strategic product launch to seek consumers’ attention towards their product range. They are also involved in the acquisition of small players which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also done to mark the company’s presence and expand their business line. Also, manufacturers are emphasizing in the research & development in order to enhance the product portfolio of the company.
Additionally, the companies are inclined towards product promotions through social media, magazines and other mediums in order to reach out to customers. The promotional strategy aids in retaining the existing the customers and also to regenerate new customer base.
The Asia Pacific Natural Cheese Market is segmented into China, India, and Japan, Australia & New Zealand, ASEAN countries and rest of APAC. This is accredited to product innovations, increased adaption of enhanced products and expanding affluence. Rise in the awareness of natural products and their associated health benefits by consumption, demographic factors, as well as increasing obese population in the developing nations are driving the demand for natural cheese market products in Asia Pacific region. Among these, China is projected to retain its dominance throughout the forecast period. China is estimated to reach USD 6.11 billion by the end of 20204. The country is projected to grow at a high growth rate of 5.36% during the review period of 2020-20204. However, India is estimated to grow at a CAGR of 5.52% during the forecast period of 2020-20204.
The reports also cover country level analysis:
- Rest of Europe
- Australia & New Zealand
- ASEAN Countries
- Rest of Asia Pacific
Rest of the World
- Latin America
- The Middle East
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