(MENAFN- EIN Presswire) EINPresswire/ -- The global parmesan cheese industry generated $15.4 billion in 2021, and is anticipated to generate $23.0 billion by 2031, witnessing a CAGR of 4.3% from 2022 to 2031.

Increase in the global adoption of parmesan cheese, increase in the production of parmesan-based snacks, and surge in popularity of parmesan cheese as a functional and nutritional food drive the growth of the global parmesan cheese market. However, easy availability of alternatives such as processed cheese, cheddar cheese, mozzarella cheese, and Swiss cheese restricts the market growth. Moreover, many market participants are making vegan parmesan cheese that are nearly identical to the dairy version, which is helping to promote vegan parmesan by allowing consumers to experience the same feel of parmesan without consuming any animal products and helps increase the Parmesan Cheese Market Size. The inclusion of vegan options in parmesan cheese is attracting the vegan population, thereby presenting new opportunities for the market growth in the coming years.

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An increase in the consumption of gourmet, as well as comfort food across the world has increased, which has led to a rise in demand for the parmesan cheese market. Many consumers are increasing their usage of parmesan in powdered and grated form, leading to an increase in the residential application of parmesan cheese, supplementing the market growth.

Parmesan cheese is a tough, granular cow's milk cheese which is aged for at least one year before being sold offered for sale. Parmigiano-Reggiano is the most authentic type of parmesan cheese, produced in Italy's Reggiano region in the cities of Parma, Reggio Emilia, Modena, Bologna, and Mantova, and its production is strictly regulated by law. Grana Padano, another cheese grown in the same region, is also considered a type of parmesan and is frequently used in the production of powdered or shredded parmesan in the Parmesan Cheese Industry.

Today's consumers, especially millennials and Generation Z, prefer food that is both convenient and nutritious. To obtain the most nutritional benefits for the body, more emphasis is being placed on healthy eating habits and balanced diets. The European Union classifies parmesan cheese as a functional food due to the numerous health benefits associated with its consumption. It contains a lot of protein, healthy fats, calcium, vitamin A, B6, and B12 vitamins, as well as phosphorus, zinc, and copper. Parmesan is also less lactose and easier to digest. Parmesan cheese's popularity is growing as consumers become more aware of its health benefits, which is helping the Parmesan Cheese Market Growth.

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Lactose intolerance is a clinical disorder in which the body is not able to properly digest lactose, a form of sugar found within milk, resulting in ailments such as stomach cramps, diarrhoea, and gastrointestinal discomfort. Although Parmesan cheese contains little lactose, it can cause discomfort in lactose intolerant individuals. Lactose intolerance is becoming more common worldwide, and it can occur at any age. Parmesan Cheese Market Forecast is being hampered as a result of this. Furthermore, parmesan cheese is high in sodium. Five grams of parmesan cheese contain 76mg of sodium, making the cheese's sodium concentration very high. Because of its high sodium content, many consumers are avoiding parmesan cheese, which limits the Parmesan Cheese Market Size.

Parmesan cheese has grown in popularity in recent years. However, the global vegan population has grown dramatically. According to a report by Grubhub, a leading prepared food delivery service in the United States, orders for plant-based food and beverages increased by 17%. Many market participants, including a few new entrants, are including plant-based parmesan cheese made from cashews, soy, coconut, and almonds in their product offerings. Many market participants are producing vegan parmesan cheese that is nearly identical to the dairy version, which helps to promote vegan parmesan by allowing consumers to have the same parmesan experience without consuming any animal products. The inclusion of vegan options in parmesan cheese appeals to the vegan population, thereby making vegan parmesan one of the newest Parmesan Cheese Market Trends.

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The parmesan cheese market is segmented on the basis of type, nature, category, end user, and region. By type, the parmesan cheese market is classified into powdered, grated, shredded, and wheels. By nature, the market is bifurcated into dairy and vegan. By category, the market is divided into conventional and organic. By end user, the market is categorized into food processing, food service, and food retail. By region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global parmesan cheese market size, and is likely to dominate the market during the forecast period. As authentic parmesan cheese, called Parmigiano-Reggiano, is produced in the Reggiano region of Italy in the Parma, Reggio Emilia, Modena, Bologna, and Mantova areas. Europe has strict laws with regard to the classification of parmesan cheese to maintain the highest quality and authenticity of cheese possible. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.5% from 2022 to 2031. owing to rapid urbanization, combined with a rise in disposable incomes in the region's developing countries, driving demand for parmesan cheese in the Asia-Pacific region. The increasing influx of western cuisine and food service establishments as well as an increase in food processing manufacturers is leading to the adoption of several new ingredients in the market.

Leading Market Players: -

BelGioioso Cheese Inc.,
Italia del Gusto,
Auroville,
All American Foods, Inc.,
Bluegrass Ingredients, Inc.,
Caseificio Gennari Sergio & Figli Srl,
Caseificio Sepertino,
DalterAlimentari S.p.A,
Frank & Sal Italian Market,
Lactalis Group,
Organic Valley,
Caseifico San Pier Damiani,
The Kraft Heinz Company,
The Kroger Co.,
Thornico A/S

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