Cream Cheese Market: Driving Factors, Market Analysis, Investment Feasibility & Trends 2027
Market Scope
Market Research Future (MRFR) anticipate that the Cream Cheese
Market will touch close to USD 8.3 Billion by 2026. The market is also likely
to procure a growth rate of 4.7% between 2020 and 2026 (evaluation period).
Major Drivers and Challenges
Factors responsible for the rapid market growth include mounting
preference for high protein and low-fat products along with the frequent introduction
of new flavors. Foods and beverages like cream cheese are increasingly being
preferred with read-to-drink cocktails, cheesecakes and bagels, which should
bolster the market share in the following years.
Demand for tea macchiato and creamy tea has been witnessing rapid
surge over the years and is expected to foster the sales of cream cheese. Rise
in disposable income, especially in emerging countries and the surging interest
in boosting refinement of palate will heighten the demand for premium items
like cream cheese.
Rapid escalation in the number of quick-service restaurants has
been favorable for the Cream
Cheese Market. In these food service outlets, cream cheese has an array of applications
including bagels, crackers and bread. It is also served as a dip for various
snacks such as potato chips, salads and more. With the amplified popularity of ready
to eat food items like sandwiches and burgers, especially among the youth, the
demand for cream cheese is bound to mount at an incredible pace over the
ensuing years.
Latest Updates
February 2021
So Delicious Dairy Free has introduced its latest range of
plant-based cream cheeses, including slices, spreads and shreds. The newest
product to be added in the range includes Cream Cheese Style Spreads, which
will be available in Chive & Onion and Creamy Original flavors. The growing
number of vegans worldwide has been taken into account, which are the key
targets for the company and all the latest launches.
Regional Insight
Asia Pacific/APAC, North America, Europe, as well as RoW/rest of
the world are the prominent markets for cream cheese products across the globe.
As of 2019, the global market was led by Europe, where the demand
for cream cheese is substantial, in view of soaring popularity of ready to eat
food products. The region’s dominance will remain unbeatable throughout the
evaluation period, thanks to the thriving dairy industry in the region. Germany
remains the most lucrative market for cream cheese in the region, on account of
the evolving eating habits, striking growth of the food and beverage sector and
the heightened demand among vegans. The European market is also marked by the
presence of several established players like Field Roast, Daiya Foods Inc.,
Nush Foods and Follow Your Heart that continuously explore innovative ways to
up their positions. Surge in health consciousness among Europeans can also be
credited for the strong market demand.
Asia Pacific is one of the fastest emerging revenue pockets in the
global market for cream cheese. The demand is incredibly high in Japan, China,
and a number of South-East Asian economies, which is creating attractive
opportunities for the renowned companies. Mounting health concerns in hand with
the growing prevalence of hectic lifestyle also drive the sales of cream cheese
products in the region. Significant penetration rate of e-commerce channels,
and the emergence of organized and standardized channels in the region also
bolster the market size.
Access Report Details @ https://www.marketresearchfuture.com/reports/cream-cheese-market-10019
Segmental Review
Source, category and distribution channel are the top market
segments outlined in the MRFR report.
The sources of cream cheese products include soy, milk, coconut,
almond, and more. The most extensively used source for cream cheese is coconut.
Most of the companies are increasingly deploying coconut milk since it offers
more consistency. Coconut milk and products derived from it to make cream
cheese offer an array of health benefits, including disease prevention,
improvement of the immune system, faster hair growth, and reduction in risks of
anemia.
Depending on category, the key segments are flavored and plain.
Flavored category of cream cheese has taken the leading spot in the global
market and will also capture the highest growth rate in the years to come.
These types of cream cheese have additional flavors that appeal to the varying
tastes of the consumers and help foster the sales.
Distribution channels that sell cream cheeses are either
store-based or non-store-based products. Convenience stores, supermarkets &
hypermarkets, and more are the major store-based channels and hold the leading
position in the global market. With the provision of a one-stop experience for
shoppers, store-based outlets have garnered high traction worldwide. But it is
projected that the fastest growth will be noted by the non-store-based segment
in the coming years, owing to the rising popularity of online shopping sites
and the overall growth of the e-commerce industry.
Top Firms
The Kraft Heinz Company. (US), Kite Hill (US), Tofutti Brands,
Inc. (US), WayFare Health Foods (US), Daiya Foods Inc. (Canada), Parmela
Creamery (US), Galaxy Nutritional Foods, Inc. (US), Arla Foods amba (Germany),
Horizn Organic Dairy LLC (US), Franklin Foods. (US), Miyoko’s Creamery (US),
Alouette Cheese USA LLC (US), Follow Your Heart (US), Good Planet Foods (US),
Dr-Cow Tree Nut Cheese (US), are the leading manufacturers of cream cheese in
the worldwide industry.
Contact
us:
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Research Future (part of Wantstats Research and Media Private
Limited),
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Hudson Street,5Th Floor, New York,
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York 10013,
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States of America
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