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Parmesan Cheese Market Is Anticipated To Reach A Valuation Of US$ 22.1 Billion By 2032

06-25-2024 07:44 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Parmesan Cheese Market Is Anticipated To Reach A Valuation Of US$

The global parmesan cheese market was valued at US$ 16.7 billion in 2022 and is projected to reach US$ 22.1 billion by 2032, growing at a CAGR of 2.8% from 2022 to 2032. Known for its hard and granular texture, parmesan cheese is made from cow's milk and is a rich source of protein, fat, and essential nutrients such as copper, vitamins B6 and B12, zinc, phosphorus, vitamin A, and calcium.

The evolving lifestyles in developing regions like Latin America and Asia Pacific have increased the preference for dairy, bakery, and similar food products. To meet this rising demand, the dairy industry is expected to introduce more innovative food products.

For more insights into the Market, Request a Sample of this Report:
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Originating in Northern Italy, Parmesan cheese is gaining global popularity. In recent years, both Parmesan cheese powder and blue cheese powder have seen a surge in consumer demand. The authentic flavors and natural ingredients of Parmesan cheese are expected to attract a broader consumer base worldwide.
Recently, there has been a significant rise in the demand for Parmesan cheese as consumers seek high-quality dressings, soups, and sauces that offer better ethnic appearance, texture, and cheesy taste. This trend is driven by the growing appreciation of diverse cheese cultures.

Key Companies Profiled
• Aar Kay Food Products Ltd.
• Saputo Inc.
• BelGioioso Cheese Inc.
• Organic Valley
• Kerry Group PLC
• The Kraft Heinz Company
• Panos Brands LLC

Increased Consumer Spending on Functional & Healthy Food Products

Globally, consumers are becoming increasingly aware of the health benefits of parmesan cheese, which is expected to boost its sales. Parmesan cheese is a convenient and ready-to-use fat source, notable for its easy digestibility.
Highly nutritious, parmesan cheese is rich in protein and calcium, which are essential for bone health. Its long shelf life also supports market growth, as an unopened block of parmesan cheese can last seven to nine months in the refrigerator, and an opened block can last one to two months.

Parmesan cheese is becoming a key ingredient in many food products. Additionally, the rising disposable income has increased the demand for premium food products like parmesan cheese.

The current surge in health consciousness among consumers is driving the demand for parmesan cheese. With growing awareness of lifestyle diseases and their causes, people are investing more in high-quality food products, including parmesan cheese.

In the United States, the FDA (Food and Drug Administration) has allowed any cheese with the same chemical and physical properties as parmesan to be labeled as Parmesan, regardless of its place of production. This regulation is expected to create significant business opportunities for local manufacturers.

Competitive Landscape
Some of the noticeable initiatives that are taken by industry players are as follows:
• Stella Cheese, in January 2022, announced that the brand is returning to its roots for the reintroduction of two beloved classics which stood against the test of time: Grana Padano and PDO-certified Parmigiano Reggiano cheeses. These products are imported from northern Italy.

Segmentation of Parmesan Cheese Industry Research
• By Product:
o Processed
o Unprocessed

• By Application:
o Bakery & Confectionery
o Snacks & Cereals
o Ready Meals
o Sweet & Savory Snacks
o Sauces, Dressings, Dips, and Condiments
o Other Applications

• By Region:
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa

Read More: https://www.factmr.com/report/parmesan-cheese-market

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Email: sales@factmr.com

About Fact.MR:

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

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