RTC Cheese Snacks Market Trends, Growth, Forecast by 2030

[Research Report] The RTC cheese snacks 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.

Market Insights and Analyst View:

RTC cheese snacks are a popular and convenient choice for those looking for a quick and tasty snack. These snacks are typically pre-packaged and ready-to-eat items, making them an ideal on-the-go snack or a convenient option for a light bite. The cheese component adds a savory and satisfying element, appealing to cheese lovers. Globally, there is an increasing emphasis on convenience in modern lifestyles. As people lead busier lives, the need for quick and easily accessible snack options has risen. RTC cheese snacks fulfill this demand by offering a ready-made solution that requires minimal preparation or cooking, making them a convenient choice for individuals with hectic schedules.

Additionally, changing dietary habits and an evolving food culture have contributed to the popularity of RTC cheese snacks. The globalization of food trends has exposed consumers to a diverse range of flavors and cuisines. The inclusion of cheese, often associated with Western culinary traditions, in convenient snack formats, caters to the evolving taste preferences of consumers in these regions. As western influences continue to shape eating habits in Asia Pacific and convenience becomes more valued in European markets, pre-packaged cheese snacks provide a convenient way to incorporate indulgent and flavorful options into daily diets.

Growth Drivers and Challenges:

The consumption of convenience food is increasing, which is currently one of the biggest trends in the food industry. Convenience foods, such as RTC products, allow consumers to save time and effort associated with shopping for ingredients, meal preparation and cooking, consumption, and post-meal activities. The development of this food segment is ascribed to many social changes; the most notable of these include the growing number of smaller households and the rising millennial population worldwide. Due to hectic work schedules, millennials prefer to be efficient with their time rather than spend it on tedious tasks. Thus, they are more likely to spend their money on convenience foods, which dives into the popularity of packaged RTE products, such as baked products, snacks, and dairy products. Modern lifestyles, characterized by busy schedules and an increasing emphasis on time efficiency, have fueled consumer preferences for convenient meal options. In response to this trend, RTC cheese snacks have gained popularity as a quick and easy-to-prepare choice for individuals seeking both convenience and flavor. Moreover, the convenience factor goes beyond preparation to include diverse snacking at home during impromptu gatherings. The versatility of RTC cheese snacks positions them as adaptable and convenient for various occasions, further driving their demand. In essence, the growing appetite for convenience food, coupled with the ease of preparation and consumption offered by RTC cheese snacks, has established them as a sought-after choice among consumers seeking a harmonious balance between convenience and enjoyable culinary experiences.

Furthermore, e-commerce has revolutionized the food industry, with online grocery shopping and meal delivery services gaining popularity. According to the European Commission, in 2022, 91% of people in the 16–74 age group in the European Union (EU) had access to the internet, and 75% of these people had purchased or ordered goods or services for private use. The proportion of e-shoppers increased from 55% in 2012 to 75% in 2022, an increase of 20% percentage points (PP). E-commerce platforms provide consumers the convenience of browsing and ordering food products from the comfort of their homes, eliminating the need for physical visits to grocery stores. This shift in shopping behavior aligns with the fast-paced lifestyles. Also, time constraints often drive the preferences for quick and convenient meal solutions. RTC cheese snacks are pre-prepared, and they require minimal effort in cooking; hence, they fit seamlessly into this demand for time-saving and convenient food options. All these factors drive the demand for convenience food, further driving the global RTC cheese snacks market

However, supply chain issues in emerging countries significantly limit the global RTC cheese snacks market. Fluctuations in temperature, inadequate packaging, or extended storage periods can lead to issues such as freezer burn, affecting the texture and taste of the cheese snacks. Ensuring a consistent and controlled cold chain is crucial for preserving the product's integrity. However, logistical complexities in distribution can pose challenges, particularly in regions with diverse climates. While these regions may offer cost advantages, they often face challenges such as inadequate infrastructure, transportation inefficiencies, and inconsistent quality control measures. These factors can lead to disruptions in the supply chain, impacting the availability and consistency of ingredients crucial for manufacturing RTC cheese snacks.

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RTC Cheese Snacks Market: Strategic Insights

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Report Segmentation and Scope:

The "Global RTC cheese snacks market" is segmented on the basis of type, cheese filler type, category, nature, distribution channel, and geography. Based on type, the market is categorized into cheese balls, cheese sticks, cheese nuggets, and others. Based on cheese filler type, the market is categorized into mozzarella, gouda, cheddar, processed cheese, and others. Based on category, the market is bifurcated into vegan and conventional. Based on nature, the market is bifurcated into frozen and refrigerated. Based on distribution channel, the market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others. Based on geography, the market is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

Segmental Analysis:

Based on type, the market is categorized into cheese balls, cheese sticks, cheese nuggets, and others. The cheese nuggets segment held the largest share of the global RTC cheese snacks market in 2022. 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 a favorite among cheese lovers with their rich texture and flavor. The demand for cheese nuggets in the global RTC cheese snacks market has been surging due to their convenience, indulgence factor, and the growing popularity of snacking.

Regional Analysis:

The RTC cheese snacks market is segmented into five key regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The market was dominated by Asia Pacific, accounting for ~US$ 504 million in 2022. The growing demand for convenient, novel food options and shifting consumer preferences have led to the expansion of the RTC cheese snacks market in Asia Pacific. The key factors fueling the growth of the RTC cheese snacks market in Asia Pacific include the increasing influence of Western culinary trends. As globalization continues to impact food preferences, there is a rising demand for Western-style snacks, including frozen cheese snacks. The Kerry Group report published in 2022 revealed a study on product launches in 16 countries; the surge in the launch of new cheese-savory snacks overtook other savory snack categories in China and India. Manufacturers have responded to regional cheese preferences by incorporating regional ingredients and flavors, ensuring that RTC cheese snacks are enriched with regional tastes.

Consumers' preferences for convenient and hassle-free meal options are driving the demand for RTC cheese snacks. The versatility of cheese as an ingredient offers lucrative business opportunities for food operators in the region to innovate and launch RTC cheese snacks with the fusion of cheese and Asian flavors. Growing urbanization in many Asian countries has further contributed to the popularity of RTC cheese snacks. Therefore, all these factors are expected to boost the demand for RTC cheese snacks during the forecast period.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the global RTC cheese snacks market are listed below:

1. In May 2022, Godrej Yummiez expanded its product portfolio with a new range of Galouti Kababs for the Indian market. Godrej Tyson Foods Ltd, a subsidiary of Godrej Agrovet Limited has announced the launch of Galouti Kabab under its fastest-growing brand – Godrej Yummiez.
2. In August 2020, Saputo Dairy United Kingdom Ltd launched its cheese brand, Cathedral City, in Canada. The company's cheese brand will be available in over 500 stores in Canada. The product format of the company will consist of Mature block 200 g, Extra Mature block 200 g, and Minis nets 6x20 g.

RTC Cheese Snacks Market Regional Insights

The regional trends and factors influencing the RTC Cheese Snacks Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses RTC Cheese Snacks Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

RTC Cheese Snacks Market Report Scope

RTC Cheese Snacks Market Players Density: Understanding Its Impact on Business Dynamics

The RTC Cheese Snacks Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the RTC Cheese Snacks Market are:

1. Beths Gourmet Ltd
2. Shri Bajrang Alliance Ltd
3. Le Duc Fine Food BV
4. Gujarat Cooperative Milk Marketing Federation Ltd
5. McCain Foods Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

COVID-19 Pandemic Impact:

The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel bans, and business shutdowns in leading countries in North America, Europe, and Asia Pacific negatively affected the growth of various industries, including food & beverages. 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 in several regions 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, thereby restraining the growth of the RTC cheese snacks market.

Competitive Landscape and Key Companies:

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 prominent players operating in the global RTC cheese snacks market.