Increasing Demand for Cheese-Based Snacks
According to the new research study on "RTC Cheese Snacks Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product Type, Cheese Filler Type, Category, Nature, Distribution Channel, and Geography," the market is expected to grow from US$ 1,879.54 million in 2022 to US$ 2,946.73 million by 2030; it is expected to record a CAGR of 5.8% from 2022 to 2030.
Cheese has become a favored ingredient in snack formulations due to its versatility and indulgence. Consumers’ changing eating habits, influenced by a desire for flavorful and satisfying snacks, have fueled demand for cheese-infused products. In Europe and Asia Pacific, there is a cultural appreciation for cheese, and this trend has been further amplified by globalization and the influence of Western culinary preferences. Cheese-based snacks, ranging from traditional flavors to innovative combinations, have found widespread acceptance among consumers in these regions. The rich and diverse culinary traditions provide an ideal backdrop for incorporating cheese into various snack formats, contributing to the surge in demand. In addition, the snacking culture is evolving, with consumers seeking more premium and gourmet options. Cheese-based snacks, often perceived as a higher-end and indulgent choice, cater to this evolving taste preference. Manufacturers in the RTC cheese snacks market have responded to this demand by introducing a variety of cheese flavors, textures, and formats, providing consumers with a diverse range of options. In May 2021, the US-based cheesemaker “Sargento Foods” partnered with snacking company Mondelez International, which has a strong presence in Europe and Asia Pacific, to launch Balanced Breaks Cheese & Crackers Snacks. The innovation partnership will combine eight natural cheese varieties from Sargento with Mondelez’s Ritz, Triscuit, and Wheat Thins crackers in individual snack packages. In addition, the influence of health and wellness trends has contributed to the rise in demand for cheese-based snacks. Manufacturers are responding to this by introducing healthier variants, such as baked or low-fat options, to meet the preferences of health-conscious consumers. These versatile types of cheese are suitable for various applications, including pizza, baking, ready meals, sauces, seasonings, and snacks. Thus, the growing demand for cheese-based snacks in Europe and Asia Pacific reflects a cultural appreciation for cheese, evolving snacking habits, and a desire for healthy options. These factors drive the RTC cheese snacks market as manufacturers continue to innovate and cater to the dynamic preferences of consumers in these regions.
Global RTC Cheese Snacks Market Breakdown – by Region
RTC Cheese Snacks Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Cheese Balls, Cheese Sticks, Cheese Nuggets, and Others), Cheese Filler Type (Mozzarella, Gouda, Cheddar, Processed Cheese, and Others), Category (Vegan and Conventional), Nature (Frozen and Refrigerated), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Geography
RTC Cheese Snacks Market Trends, Growth, Forecast by 2030
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Beths Gourmet Ltd, Shri Bajrang Alliance Ltd, Le Duc Fine Food BV, Gujarat Cooperative Milk Marketing Federation Ltd, McCain Foods Ltd, Godrej Agrovet Ltd, Aviko BV, ITC Ltd, Saputo Dairy United Kingdom Ltd, and Rich Products Corp. are among the key players operating in the global RTC cheese snacks market. These key players adopt product innovation strategies and invest in business expansions to meet consumers' demands, further driving the global RTC cheese snacks market.
Impact of COVID-19 Pandemic on Global RTC Cheese Snacks Market
The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel bans, and business shutdowns in leading countries negatively affected the growth of industries, such as the food & beverages industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential products. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various governments on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. All these factors hampered the food & beverages industry in 2020 and early 2021, restraining the growth of the global RTC cheese snacks market.
The report segments the global RTC cheese snacks market as follows:
The global RTC cheese snacks market is segmented on the basis of product type, cheese filler type, category, nature, and distribution channel. Based on type, the market is categorized into cheese balls, cheese sticks, cheese nuggets, and others. Cheese nuggets are small, bite-sized snacks with cheese cubes in a crispy, flavorful batter. These delectable nuggets are typically deep-fried to achieve a crunchy exterior while maintaining a soft, melty cheese center. Cheese nuggets have become popular among cheese lovers owing to their rich texture and flavor. The demand for cheese nuggets in the RTC cheese snacks market has been surging due to their convenience, indulgence factor, and the growing popularity of snacking.
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