Worldwide Consumption Of String Cheese Is Projected To Expan...| MENAFN.COM

Saturday, 28 January 2023 06:53 GMT

Worldwide Consumption Of String Cheese Is Projected To Expand At A Healthy CAGR Of 5.9% By 2032

(MENAFN- Ameliorate Digital Consultancy)

Worldwide consumption of string cheese is valued at US$ 4 billion in 2022, having registered Y-o-Y growth of 5.2% . Going ahead, the global string cheese market is projected to expand at a healthy CAGR of 5.9% reaching the valuation of US$ 7.1 billion over the 2022-2032 assessment period. The United States accounts for more than 40% increase in revenue.

String cheese is recognized as a rich source of protein, vitamin B12, and vitamin K2, making it an ideal snack for health-conscious consumers. It also contains significant amounts of calcium and selenium that enhance bone and immune health.

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American string cheese will dominate both the North American and global markets

It is unlikely that American string cheese will dominate both the North American and global markets. While American string cheese is popular in the United States, it is not as widely available in other countries. Additionally, other countries have their own unique types of cheese that are popular in their respective markets. Therefore, it is unlikely that American string cheese will be able to dominate both the North American and global markets.

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Competitive Landscape

The global string cheese market is fairly fragmented with several string cheese manufacturers struggling to secure dominance. Both organic and inorganic growth tactics have been used by market players for expansion.

Acquisitions have aided frontrunners with well-researched products and an established consumer base. Expanding production facilities is another go-to strategy for major manufacturers. Supplementing sales under the influence of various labels such as organic, low-fat, etc., is paving the way for global market leaders.

For instance :

  • In May 2022 , Sargento announced the acquisition of Baker Cheese Factory Inc. , a known manufacturer of high-quality mozzarella string cheese. The acquisition will enhance Sargento's product offerings and also provide opportunities for future expansion.
  • In 2021 , a leading global manufacturer of high-quality dairy foods and ingredients, Leprino Foods Company , established an 850,000-square-foot manufacturing plant in Texas. The facility is meant to meet consumer demand for whey products and cheese, both locally and internationally, by producing mozzarella cheese and dairy ingredients.

Key Companies Profiled:

  • Kraft Heinz Company
  • Lactalis (Galbani)
  • Leprino foods company
  • Saputo (Frigo )
  • Dairy Farmers of America Inc. (Borden)
  • Bega Cheese
  • Danone ( Horizon Organic)
  • Baker Cheese Inc.
  • Sargento
  • Glanbia

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String Cheese Industry Research by Category

  • by Product Type :
    • Natural
    • Processed
    • Flavored
      • Cheddar
      • Smoked
      • Chili
      • Barbeque
      • Herbed
      • Garlic
      • Others
  • by Source :
    • Cow Milk
    • Goat Milk
    • Buffalo Milk
    • Sheep Milk
  • by Shapes :
    • Sticks
    • Twists
    • Balls (Braided Strings)
    • Nuggets

Questionnaire answered in the report include:

  • How the industry has grown?
  • What is the present and future outlook on the basis of region?
  • What are the challenges and opportunities?
  • Why the consumption in region?
  • In which year segment is expected to overtake segment?

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