United States, Rockville MD, June 09, 2022 (GLOBE NEWSWIRE) — According to a recently published report by Fact.MR, Fact.MR, a market research and competitive intelligence provider, the global string cheese market is estimated to exceed a valuation of US$ 7.1 billion by 2032, expanding at a healthy CAGR of 5.9% during the forecast years of 2022-2032. Over the 2017-2021 historical period, the market registered a CAGR of 3.2%.
The snacking sector is gaining traction among the global population. People nowadays prefer small and frequent meals due to their fast-paced lifecycle. In this case, string cheese seems to be the perfect snack as it is known for its high protein and nutrient content. Additionally, the rising population of health-conscious and health-literate people across the world is constantly demanding a cheese-rich diet as a healthier approach to living.
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Usage of cheese is raging in the keto diet, which switches the metabolism into ketosis, a fat-burning metabolic pathway. Consequently, the snacking sector and string cheese market will grow in parallel over the coming years.
In addition, string cheese is gaining popularity among children owing to its peelable nature, which works as an attraction point for kids together with its high nutritional value. Product packaging and flavors also play a vital role in attracting consumers. Hence, innovative product packaging and varied string cheese flavors are the key focus areas for manufacturers to grow in the market.
Why is String Cheese Gaining Popularity across the World?
“String Cheese – Healthy & Fun On-the-go Snack Option”
String cheese has been popular among kids since its emergence. Because of its stringy texture, it’s fun to chew and play with. Adults, on the other hand, prefer it as an on-the-go snack. Individually packaged string sticks can be carried to classrooms, work desks, and other locations, and they can satisfy mid-meal hunger without creating a mess.
According to the 2019 Mintel US cheese study, 77 percent of those surveyed flavor cheese as an on-the-go snack. Furthermore, to increase string cheese’s popularity among youngsters, manufacturers are focusing on customized flavors and attractive packaging for kids.
Full-fat string cheese has huge amounts of saturated fats and some cholesterol, in addition to all of the vital vitamins and minerals. Milk includes 70% saturated fats, 25% monounsaturated fats, and 5% polyunsaturated fats by composition.
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Key Segments Covered in the String Cheese Industry Survey
- String Cheese Market by Product Type :
- Natural String Cheese
- Processed String Cheese
- Flavored String Cheese
- String Cheese Market by Source :
- Cow Milk-Based String Cheese
- Goat Milk-Based String Cheese
- Buffalo Milk-Based String Cheese
- Sheep Milk-based String Cheese
- String Cheese Market by Shapes :
- String Cheese Market by End User :
- Retail Consumers
The global string cheese market is fairly fragmented with several string cheese manufacturers struggling to secure dominance. Both organic and inorganic growth tactics have been used by market players for expansion.
- In May 2022, Sargento announced the acquisition of Baker Cheese Factory Inc., a known manufacturer of high-quality mozzarella string cheese. The acquisition will enhance Sargento’s product offerings and also provide opportunities for future expansion.
- In 2021, a leading global manufacturer of high-quality dairy foods and ingredients, Leprino Foods Company, established an 850,000-square-foot manufacturing plant in Texas. The facility is meant to meet consumer demand for whey products and cheese, both locally and internationally, by producing mozzarella cheese and dairy ingredients.
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Key players in the String Cheese Market
- Kraft Heinz Company
- Lactalis (Galbani)
- Leprino foods company
- Saputo (Frigo)
- Dairy Farmers of America Inc. (Borden)
- Bega Cheese
- Danone ( Horizon Organic)
- Baker Cheese Inc.
Key Takeaways from String Cheese Market Study
- The global string cheese market is valued at US$ 4 billion and is projected to expand at an impressive CAGR of 5.9% through 2032.
- The market witnessed 3.2% CAGR over the period 2017-2021.
- Under product type segment, natural string cheese dominates the market and is estimated to exceed US$ 3.6 billion by 2032.
- North America dominated the market by holding 59.4% market share in 2021.
- Together, North America and Europe are likely to represent 83.4% of the overall market share in 2022.
- Demand for string cheese is expected to increase at CAGRs of 5.4% and 6% in North America and Europe, respectively, over the forecast period.
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