Cheese-Based Snacks Market Size to Grow at USD 3.53 Billion from 2022 to 2026: Descriptive Analysis of Customer Landscape, Vendor Assessment and Market Dynamics

NEW YORK, January 23, 2023 /PRNewswire/ — The global cheese-based snacks market size is expected to increase by $3.53 billion from 2021 to 2026. However, the market’s growth momentum will decelerate at a CAGR of 5.12% during the forecast period. Get detailed market research information. The competitive scenario categorizes companies based on various performance metrics. Some of the factors considered include companies’ financial performance, growth strategies, product innovation, new product launches, investments and market share growth, among others. Buy the report!

Technavio has announced its latest market research report titled Global Cheese-Based Snacks Market 2022-2026.

Market for cheese-based snacks – customer landscape
To help companies assess and develop growth strategies, the report outlines –

  • Basic purchase criteria

  • Adoption rates

  • Adoption Lifecycle

  • Drivers of price sensitivity

  • Discover some market size insights before purchasing the full report – Request a sample report

Cheese Based Snacks Market – Vendor Analysis
Vendor Landscape – The global cheese-based snacks market is fragmented due to the presence of multiple global and regional vendors. Suppliers compete based on multiple factors, including price, quality, innovation, service, reputation, distribution and promotion. Product launches, mergers and acquisitions, and business expansion are other strategies adopted by vendors to gain a competitive edge in the market.

A few prominent vendors that offer cheese-based snacks in the market are Amys Kitchen Inc., General Mills Inc., Godrej Agrovet Ltd., GONUTZ Snack Foods, Kellogg Co., Gujarat Cooperative Milk Marketing Federation, Homtek India Snacks Manufacturing Co., Kerry Group Plc, Mars Inc., McCain Foods Ltd., Parle Products Pvt. Ltd., PepsiCo Inc., Prataap Snacks Ltd., Sargento Foods Inc., Serious Pig Ltd, Snacks Developpement SAS, SURYA FOOD and AGRO LTD., UNISMACK SA, Utz Quality Foods LLC and Whisps Acquisition Corp. and other.

Vendor Offers –

  • General Mills Inc. – The company offers cheese-based snacks under the Bugles brand.

  • Godrey Agrovet Ltd – The company offers cheese-based snacks through its subsidiary Godrej Tyson Foods.

  • Kellogg Co. – The company offers cheese-based snacks such as Cheez It Duoz, Cheez It Grooves and Cheez It Snapd.

  • Mars Inc. – The company offers cheese-based snacks such as cheese crackers under the COMBOS brand.

Cheese Based Snacks Market – Segmentation Assessment

Segment overview
Technavio segments the market based on end user (retail and foodservice) and geography (North America, EuropeAPAC, South Americaand Middle East and Africa).

  • Market growth will be significant in the retail segment during the forecast period. The segment is driven by the growth of organized retail across the globe. In addition, consumers prefer supermarkets and hypermarkets as they can find products of all categories under one roof. The stores also offer discounts and offers on a wide range of products, including cheese-based food products.

Geographical overview
By geography, the global cheese-based snacks market is segmented into North America, EuropeAPAC, South Americaand Middle East and Africa. The report provides actionable insights and assesses the contribution of all regions to the growth of the global cheese-based snacks market.

  • North America will account for 38% of the global market growth during the forecast period. The growth of the regional market is driven by factors such as increasing number of dual-career households, increasing disposable income, and the presence of fast food chains.

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Market for cheese-based snacksMarket dynamics

Leading Drivers –

The market is driven by rising disposable income and lifestyle changes. Consumer disposable income has increased significantly in recent years. For example, according to a study by the Bureau of Economic Analysis, disposable personal income (DPI) increased by $89.7 billion (0.5%) c March 2022 in the US from April 2022. The rise in disposable income has led to an increase in spending and purchasing power. This has subsequently changed the eating habits of consumers, leading to a demand for easy-to-eat and easy-to-serve food products, including cheese-based snacks, driving the growth of the market.

Key trends –

The increasing number of new product launches is identified as a key trend in the market. Vendors focus on successful new product launches to increase revenue streams and improve their market shares. For example, in January 2020, Pringles, a Kelloggs Co. brand, launched a new flavor with varying levels of heat intensity, such as cheese and chili. Similarly, in September 2021, McCain Foods Ltd. launched a new plant-based brand called The Simple Root that offers dips, spreads, sauces and cheeses made from root vegetables. Such an increase in the number of product launches is expected to drive the growth of the market during the forecast period.

Main challenges –

The increasing number of health effects is a major factor hindering the growth of the market. Cheese-based snacks are high-calorie foods. They contain high amounts of saturated fat, which raise cholesterol levels. In addition, having too much sodium in cheese increases the risk of high blood pressure as well as kidney disease. In addition, excessive consumption of cheese-based snacks can create difficulties such as gas or bloating. Such health risks associated with the consumption of cheese-based snacks reduce the growth potential of the market.

Driver, trend and challenges are the factors of market dynamics that speak to the consequences and sustainability of the business, find some insights from a sample report!

What are the key data covered in this Cheese Based Snacks market report?

  • Market CAGR during the forecast period

  • Detailed information about the factors that will drive the growth of the cheese-based snacks market between 2022 and 2026.

  • An accurate estimation of the size of the Cheese-based Snacks market size and its contribution to the market with an emphasis on the primary market

  • Accurate predictions of upcoming trends and changes in consumer behavior

  • Growth of Cheese Based Snacks Market Industry North America, EuropeAPAC, South Americaand Middle East and Africa

  • In-depth analysis of the competitive landscape of the market and detailed information on suppliers

  • A comprehensive analysis of factors that will drive vendor growth in the Cheese-based Snacks market

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  • The processed potato market is expected to grow at a CAGR of 5.2% between 2022 and 2027. The market size is projected to increase by $41.71 billion. The growing popularity of private label brands is significantly driving the market growth, although factors such as increasing demand for home-made and street potato snacks may hinder the market growth.

Market scope of cheese-based snacks

Report coverage

Details

Page number

136

Base year

2021

Historical period

2017-2021

Estimated period

2022-2026

Growth momentum and CAGR

Slowing down at a CAGR of 5.12%

Market Growth 2022-2026

$3.53 billion

Market structure

Torn apart

Year-on-year growth 2022-2023 (%)

5.67

Regional analysis

North America, Europe, APAC, South America and the Middle East and Africa

Effective market contribution

North America with 38%

Key countries

USA, Canada, China, Germany and UK

The competitive environment

Leading suppliers, market positioning of suppliers, competitive strategies and industry risks

Key companies profiled

Amys Kitchen Inc., General Mills Inc., Godrej Agrovet Ltd., GONUTZ Snack Foods, Kellogg Co., Gujarat Cooperative Milk Marketing Federation, Homtek India Snacks Manufacturing Co., Kerry Group Plc, Mars Inc., McCain Foods Ltd., Parle Products Pvt. Ltd., PepsiCo Inc., Prataap Snacks Ltd., Sargento Foods Inc., Serious Pig Ltd, Snacks Developpement SAS, SURYA FOOD and AGRO LTD., UNISMACK SA, Utz Quality Foods LLC and Whisps Acquisition Corp.

Market dynamics

Major market analysis, drivers and barriers to market growth, fast and slow growing segment analysis, analysis of the impact and recovery of COVID-19 and future consumer dynamics, and analysis of market status for the forecast period.

Range of customization

If our report doesn’t include the data you’re looking for, you can contact our analysts and get custom segments.

Contents:

1 Summary

2 Market landscape

3 Sizing the market

4 Five Forces Analysis

5 Market segmentation by end user

6 Customer landscape

7 Geographical landscape

8 Drivers, challenges and trends

9 Supplier landscape

10 Supplier Analysis

11 Appendix

About us

Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 dedicated analysts, Technavio’s report library consists of more than 17,000 reports and growing, covering 800 technologies spanning 50 countries. Their client base consists of businesses of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, in-depth research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Cheese-Based Snacks Market 2022-2026

Global Cheese-Based Snacks Market 2022-2026

Sission

Sission

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