Market Overview
Global Smoked Cheese Market is thriving over the past few years, mainly due to the rising popularity of grilled flavored food. Besides, rising consumer preference for natural food products is substantiating the market demand. Moreover, growing numbers of health-conscious populaces inclined towards a healthy lifestyle are accelerating the market growth on a global level. According to a leading research firm ‘Market Research Future’ (MRFR), the global smoked cheese market is expected to garner substantial accruals by the end of 2023. MRFR, in its recent analysis, also asserts that the market would register a modest CAGR throughout the forecast period (2017-2023). Recent product launches are estimated to impact the growth of the market.
Wide applications of smoking cheese ranging from bakery to dairy products, are driving the market indirectly. The rising trend of pizza toppings is increasing product consumption. Besides, the high demand for processed ready-to-eat food products due to the rapid urbanization is majorly expanding the size of the global smoked cheese market. On the other hand, rising incidences of diseases such as cholesterol, hypertension, and diabetes are hampering the market growth. Also, the price volatility and demand-supply gap in raw materials required to produce smoked cheese are obstructing the growth of the market. Nevertheless, the higher demand for naturally smoked cheese is forecasted to support the growth of the market, enhancing the export revenues.
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Competitive Landscape
Highly competitive, the Smoked Cheese Market appears to be fragmented with the presence of many large and small-scale players. M&A, brand reinforcement, and innovation remain key trends for these players, who strive to develop a cost-competitive manufacturing method to reduce the price of the product while minimizing the downtime and increasing the shelf life of the product. The market competition is estimated to intensify with product innovations and extensions.
Matured players increasingly try to enhance their products with innovations such as gluten-free and non-GMO to satiate the growing consumer demand. These players emphasize more on delivering unique products with differentiation; they are making products with improved shelf-life.
Major Players
Key players leading the global smoked cheese market include Carr Valley Cheese Company, Inc. (US), Leprino Foods Company, Inc. (US), Dewlay Cheesemakers Ltd. (UK), Lioni Latticini, Inc. (US), Hilmar Cheese Company, Inc. (US), Ludlow Food Centre Ltd. (UK), and Gilman Cheese Corporation (US), among others.
Industry/Innovation/Related News
March 04, 2019, —- Borgman Capital LLC. (the US), a private investment firm announced the acquisition of Gilman Cheese Corporation (the US), a leading manufacturer of premium processed cheese. Gilman specializes in premium quality; shelf-stable processed cheese as well as smoked cheese, both natural and processed. Moreover, Gilman is a leading innovator, developer, and manufacturer of premium high-quality, clean label processed cheeses. The acquisition is the largest acquisition to date for Borgman Capital.
January 04, 2019 —- Emmi AG (Switzerland), a milk processor and dairy products company, announced the acquisition of a blue cheese plant from Great Lakes Cheese Co. Inc. (the US). Through this purchase, Emmi is gaining additional capacity to produce blue cheese in the US, which is the largest foreign market for its cheese.
Emmi has strengthened its Specialty Cheese segment recently, and the acquisition of the blue cheese plant will continue to grow these efforts. Emmi’s current blue cheese portfolio includes the Buttermilk Blue Cheese, in Original, Smoked, and Anée (mature) varieties.
Market Segment
MRFR has segmented the Smoked Cheese Market into four dynamics to widen the scope of understanding, By Source: Naturally Smoked Cheese, Processed Smoked Cheese, and others.
By Product Type: Soft Cheese, Smoked Mozzarella, Smoked Cheddar, Liquid Smoked Cheese, Fresh Cheese Brie, and others.
By Distribution Channel: Store-based and Non-Store Based Distribution Channel.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Geographical Analysis
Europe is projected to continue with its dominance over the global smoked cheese market throughout the forecast period. Increasing consumption of processed food led by the changing consumer preferences is driving the smoked cheese market in this region. Besides, growing application for smoked cheese, especially for food dressing purposes, foster the growth of the market hugely. Moreover, growing markets in Germany, the UK, and Russia are supporting regional market growth. Furthermore, the developing economy is enabling the region to generate a substantial revenue pocket, leading to increasing the disposable income of people.
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