Market Overview
Specialty cheese is a type of cheese in which attention is given to natural flavor and texture. It is a well-known source of protein, calcium, and phosphorus. The specialty cheese is obtained from various sources of milk such as goat milk, sheep milk, whole cow milk, skimmed cow milk, and buffalo milk. Various natural ingredients such as herbs, spices, fruits, nuts and others are added to the specialty cheese to preserve the natural flavors. The product is available in number of types such as fresh, aged fresh, soft white, semi-soft, hard, flavored, and others. These wide range of products are gaining popularity among the consumers.
Downstream Analysis
The global Specialty Cheese Market Revenue is segmented on the basis of type such as fresh, aged fresh, soft white, semi-soft, hard, flavored, and others. Among all, the fresh specialty cheese segment is dominating the market. Owing to low contamination and rich flavor attitude, it is gaining higher acceptance in the market. Moreover, the hard cheese is experiencing a steady growth based on its prolonged shelf life compared to other cheese types.
On the basis of source, it is segmented into goat milk, sheep milk, whole cow milk, skimmed cow milk, and buffalo milk. Whole cow milk segment is dominating the market for the rich taste of cheese sourced from cow milk. However, due to increasing health consciousness among the consumers, skimmed cow milk is expected to witness a steady growth over the forecast period.
Based on the flavor, specialty cheese is segmented such as herbs, spices, fruits, nuts, and others. However, spices flavor is witnessed to be growing in the market followed by the herbs flavor.
On the basis of distribution channel, the Specialty Cheese Market Revenue is segmented into store-based and non-store based distribution channel. However, the store-based distribution channel is dominating the market due to one stop shopping experience.
Market Forecast
Increasing application of specialty cheese in fast food products, snacks, bakery products and others is driving the growth of the market. Additionally, changing lifestyle and consumption pattern among the consumers are supporting the growth of the Specialty Cheese Market Revenue. Moreover, inclination of consumers towards fast food and snacks is boosting the market growth. However, constantly price hike of milk may hamper the Specialty Cheese Market during the review period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.5% of Specialty Cheese Market during the forecast period 2017-2023.
Competitive Analysis
The major players in the Specialty Cheese Market:
- Bel Brands (U.S.)
- ORNUA FOODS NORTH AMERICA INC (U.S.)
- BelGioioso Cheese Inc (U.S.)
- Arla Foods (Denmark)
- Kanegrade Ltd. (U.K.)
- Kraft Heinz Ingredients (U.S.)
- Saputo Inc. (Canada)
Market Segmentation
Specialty Cheese Market Revenue is segmented on the basis of type, source, flavor, distribution channel, and region.
Market Forecast
Increasing application of specialty cheese in fast food products, snacks, bakery products and others is driving the growth of the market. Additionally, changing lifestyle and consumption pattern among the consumers are supporting the growth of the Specialty Cheese Market Revenue. Moreover, inclination of consumers towards fast food and snacks is boosting the market growth. However, constantly price hike of milk may hamper the Specialty Cheese Market during the review period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.5% of Specialty Cheese Market during the forecast period 2017-2023.
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Regional Analysis
The global Specialty Cheese Market Revenue is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is holds the major share of the Specialty Cheese Market followed by North America. Growing consumption of specialty cheese in snacks and fast foods by the increasing population is the major factor driving the Specialty Cheese Market in Europe. In North America, the U.S. holds the major share of Specialty Cheese Market.
Moreover, changing lifestyle and increasing disposable income in countries such as India, china and Japan are expected to affect the growth of the Specialty Cheese Market in Asia Pacific, positively. Additionally, high focus on RD is increasing the range of specialty cheese products, which is likely to surge the market growth in rest of the world.
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