Individual Quick Frozen Cheese Industry Overview
The global individual quick frozen cheese market size was valued at USD 6.24 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. The rise in the consumption of fast foods such as pizza, pasta, and burgers has contributed to the increasing demand for cheese varieties such as mozzarella, parmesan, and cheddar. Cheese is a common ingredient in both fast food and fine dining establishments. Furthermore, the growth of the individual quick frozen (IQF) cheese market in the B2B end-use application can be attributed to the rising use of cheese within the food industry.
The COVID-19 pandemic has had a negative impact on the market growth, leading to a slight decline owing to the temporary closures of restaurants, food deliveries, and quick-service restaurants globally due to quarantine and lockdown measures, with sales of restaurants decreasing by 60%-70% from March to April 2020 globally. For instance, in August 2020, Domino’s Pizza, Inc. reported a drop in orders during the early stage of the COVID-19 pandemic as it stopped customers from collecting orders and dropped popular choices such as the cheeseburger pizza, stuffed crust, and chicken wings from its menus as a part of safety measures. Delivery orders of the company increased by 12% in the first six months of 2020, but collection orders dropped by 44%.
Gather more insights about the market drivers, restraints, and growth of the Global Individual Quick Frozen Cheese Market
Consumers’ eating priorities have led to strong demand for IQF cheese in the U.S. Furthermore, consumers’ demand for exclusive cheeses is driven by healthfulness, convenience, and sustainability. Several cheesemakers are addressing the growing consumer desire for fast food and ready-to-eat meals, in which cheese is a major ingredient, hence, they are continuously working on improving the quality of cheese and preserving it for a longer duration, which is expected to drive the market in the country.
The growth of the mozzarella segment is due to the increased demand for pizzas as the pizza industry keeps evolving and consumers are more likely to order a pizza when they go out to eat fast food as compared to other foods. According to an article published on SidmartinBio, in August 2020, the average American ate nearly 23 pounds of pizza per year. Furthermore, IQF mozzarella still works quite alright when melted and used as a topping over toasts, antipasti, baguettes, sandwiches, and salads.
Browse through Grand View Research's Consumer F&B Industry Related Reports
Frozen Bakery Market - The global frozen bakery market was worth USD 42.95 billion in 2022, expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030.
Frozen Food Market - The global frozen food market size was valued at USD 177.07 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030.
Individual Quick Frozen Cheese Industry Segmentation
Grand View Research has segmented the global Individual quick frozen cheese market on the basis of product, source, type, and region:
Individual Quick Frozen Cheese Product Outlook (Revenue, USD Million, 2017 - 2030)
- Mozzarella
- Cheddar
- Parmesan
- Others
Individual Quick Frozen Cheese Source Outlook (Revenue, USD Million, 2017 - 2030)
- Cow Cheese
- Goat Cheese
Individual Quick Frozen Cheese Type Outlook (Revenue, USD Million, 2017 - 2030)
- Standard of Identity (SOI) Cheese
- Non-Standard of Identity (SOI) Cheese
Individual Quick Frozen Cheese Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- MEA (Middle East & Africa)
Market Share Insights:
October 2021: Granarolo S.p.A. announced the 100% acquisition of Calabro Cheese Corp., a U.S. enterprise. Calabro Cheese Corp produces and markets fresh dairy products, in particular ricotta, mozzarella, and burrata.
October 2021: Irish dairy co-operative Ornua announced that it had completed the acquisition of U.S. cheese ingredients business Whitehall Specialties Inc. (WSI) for an undisclosed sum from Mason Wells, a private equity firm based in Milwaukee, Wisconsin. The acquisition complemented Ornua’s U.S. ingredients division, Ornua Ingredients North America (OINA), and is central to Ornua’s long-term growth strategy in the U.S. cheese ingredients market.
Key Companies profiled:
Some prominent players in the global Individual Quick Frozen Cheese Industry include
- Granarolo S.p.A.
- Agrial
- Fonterra Co-operative Group Limited
- Leprino Foods Company
- Ornua Ingredients
- CASA Radicci
- Ets Freddy Baines (Flanders Milk)
- Consorzio Dal Molise
- Europomella SpA
- Whitehall Specialties Inc.
Order a free sample PDF of the Individual Quick Frozen Cheese Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment