London, 14 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the cheese market in the US 2015-2019, which is expected to grow at a CAGR of 2.71% during the forecast period of 2014-2019.
The high nutritional value of cheese is a major factor that drives growth in this market. It contains nutrients like calcium, protein, phosphorus, zinc, vitamin A, and vitamin B12, which are highly beneficial to the consumers. Another factor that promotes growth in this market is its applicability in fast food recipes, where products like burgers, sandwiches, hotdogs, and pizza use cheese as a necessary ingredient. Factors such as the rising snacking habit of consumers in the US and the want for more cheesy and ethnic cuisines contribute to the growth of the market in this region.
“With increasing instances of health issues people prefer a healthy diet. Low-fat cheeses are more in demand. The fast-paced lifestyle means people don’t have time to exercise and in such cases they try to reduce their intake of calories and extra fats in their diet. All these factors have pushed demand for low-fat food,” says Faisal Ghaus, Vice President of Technavio.
“Low-fat cheese contains less saturated fat and a low sodium content. Most low-fat cheese is made from skimmed milk, which contains less fat in comparison to normal cheese. Low fat is also preferred by parents for their children because they do not want them to become obese.”
Key Market Drivers:
- Cheese Consumption Driven by Natural Demand.
- High Nutritional Value.
- Rise in Demand for Fast Food.
- Innovation in Varieties.
Key Market Trends:
- Increase in Demand for Low-fat Cheese.
- Increase in Marketing Initiatives.
- Increase in Adoption of Branded Cheese Products.
- Greater Demand for Organic Cheese.
- Convenience a Priority.
Key Market Vendors:
- Crystal Farms
- Kraft Foods Group, Inc.
- Sargento
- Tillamook County Creamery Association
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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