Liquid Cheese Market Expected to Reach $22.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Liquid Cheese Market," The liquid cheese market size was valued at $17.3 billion in 2021, and is estimated to reach $22.5 billion by 2031, growing at a CAGR of 2.6% from 2022 to 2031.

The segment of the food industry that creates and sells products made from liquid cheese is referred to as the liquid cheese market. The term "liquid cheese" refers to a particular kind of cheese that has been melted and processed to achieve a smooth, pourable consistency. It is frequently used as an ingredient in several food, including nachos, dips, sauces, and toppings for burgers and hot dogs. The market for liquid cheese is fueled by several factors, such as shifting customer preferences, rise in demand from the food service sector, and rise in acceptance of convenience food.

According to liquid cheese market analysis, the market is analyzed based on product type, cheese type, distribution channel, and region. On the basis of product type, the market is divided into cheese spread, cheese sauce, cheese dip, and others. Among these, the cheese spread segment occupied the major liquid cheese market share of the market in 2021 and is projected to maintain its dominance during the liquid cheese market forecast period. Cheese spreads are frequently used as a dipping sauce or as a spread for crackers, bread, and other food. The desire for convenient meals, shifting consumer preferences, and the adaptability of cheese spreads in different cuisines are some of the factors that drive the market for cheese spreads. The expansion of the popularity of snacking and the need for diverse and convenient food products are projected to fuel the cheese spread growth of the segment in the upcoming years.

On the basis of cheese type, the liquid cheese market market is divided into mozzarella, cheddar, parmesan, and others. The mozzarella segment is expected to grow at a moderate rate during the forecast period. There has been an increase in demand for mozzarella cheese as a result of the widespread usage of mozzarella cheese as a pizza topping. This trend is anticipated to last for many more years due to the continued popularity of pizza as a food item. The popularity of quick meals has increased demand for mozzarella cheese products such as liquid cheese. These products are utilized in a variety of recipes and are convenient for consumers.

On the basis of distribution channel, it is bifurcated into online and offline. Furthermore, the offline segment is classified into supermarkets/hypermarkets, convenience stores, specialty stores, and others. The online segment is anticipated to grow at the highest CAGR during the forecast period. For companies in a variety of industries, including the food industry, the online sales channel has become more significant in recent years. The ease of placing orders from the comfort of their homes and having their purchases delivered right to their doorstep is offered to customers via online sales platforms.

The region that dominated the global liquid cheese market in 2021 was Europe, and this dominance is anticipated to continue throughout the forecast period. There is a liquid cheese market growth in the need for fast food options among European consumers as their schedules become busier. Since it is simple to use and is added to a number of food to improve their flavor, liquid cheese products have been in high demand due to this trend. Demand for liquid cheese products, which are frequently used as toppings for street food items like nachos, fries, and burgers, has been fueled by the popularity of street food in Europe.

There is a rise in health consciousness among consumers, which has an impact on the liquid cheese market. Products with low-fat and reduced-fat liquid cheese have gained popularity, as are those with organic and non-GMO components.  Companies keep producing new liquid cheese products and flavors to adapt to shifting consumer preferences. These includes items prepared with various cheeses, like cheddar or blue cheese, as well as items with flavorings added, such as jalapeno or truffle. These liquid cheese market trends are creating liquid cheese market opportunities. 

The market for liquid cheese has been significantly impacted by the COVID-19 pandemic, as has the whole global food sector. Prior to the pandemic, the market for liquid cheese was already expanding steadily due to rise in consumer demand and shifting customer preferences in the food service sector. So far, the pandemic has affected the market for liquid cheese by disrupting supply networks and causing substantial changes in customer behavior.

The major players analyzed for the global liquid cheese industry are Amul, Brunkow Cheese, Cabot Creamery, Dairygold, Dlecta Foods Private Limited, Fritos, Gehl Foods, LLC, Heluva Good, Kaukauna Cheese, La Preferida, Ricos Products, Rojo's, Veeba Food, Velveeta, and Wingreens Farms Private Limited.

KEY FINDINGS OF STUDY

• On the basis of product type, the cheese spread segment was the highest revenue contributor to the market, with $6,835.2 million in 2021, and is estimated to reach $8,590.0 million by 2031, with a CAGR of 2.2%.
• On the basis of cheese type, the cheddar segment was the highest revenue contributor to the market, with $6,137.6 million in 2021, and is estimated to reach $8,123.8 million by 2031, with a CAGR of 2.7%.
• On the basis of distribution channel, the offline segment was the highest revenue contributor to the market, with $12,761.3 million in 2021, and is estimated to reach $16,193.6 million by 2031, with a CAGR of 2.3%.
• On the basis of region, Europe was the highest revenue contributor, accounting for $8,753.8 million in 2021 and is estimated to reach $11,170.0 million by 2031, with a CAGR of 2.4%.