Rockville, MD -- (SBWIRE) -- 07/12/2019 -- The latest report on the cheese shreds market by Fact.MR offers key insights, along with the in-depth analysis of the cheese shreds market. The report also sheds light on the historical data and forecast on the cheese shreds market. All the key factors influencing the cheese shreds market growth are also provided in the report. The study offers all the micro and macro-economic factors in the market along with the qualitative and quantitative analysis. The report also includes market dynamics such as key trends, growth opportunities, market drivers, and challenges in the cheese shreds market. The report also offers segment-wise and regional analysis of the market along with the details on the market in the key countries in each region. Competitive landscape in the cheese shreds market is also offered in this report.
Increasing Demand for Mozzarella Cheese Shreds in HoReCa Sector
Shredded cheese products often referred to as cooking cheese are finding wide application in HoReCa sector owing to the easy-to-use feature of cheese shreds along with good meltability. Owing to the better taste, softness, and meltability, mozzarella cheese shreds are used on a large scale as a pizza topping and as ingredient in various food products.
In recent years, the demand for shredded low-moisture mozzarella cheese has increased as a result of better shelf-life. Moreover, rise in application of anti-caking agent in mozzarella cheese shreds to prevent molds, while increasing its shelf life. This is also resulting in companies operating in HoReCa sector buying mozzarella cheese shreds in large quantities.
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Cheese Shreds Market - Key Insights
The cheese shreds market registered a CAGR of 3.0% during the period 2013 to 2018. However, declining prices of cheese are likely to augur well for cheese shreds industry.
The cheese shreds market is projected to exceed revenues worth US$ 4 billion in 2019.
North America is likely to remain the largest market for cheese shreds with revenues projected to surpass US$ 1.6 billion in 2019. Cheese shreds market players in the region are leveraging falling prices of milk in combination with higher stocks, which have reduced cost of various cheese variants.
Asia Pacific excluding Japan (APEJ) will retain its position as the fastest-growing market for cheese shreds. Greater China continues to gain significance as an attractive market with surging demand for cheese shreds from bakeries and western style restaurants in the country.
HoReCa Remains Largest Cheese Shreds Buyer
A wide variety of food options offered by the food service providers, along with the convenience of on-the-go and home delivery continue to drive demand for cheese shreds from HoReCa sector. With evolving dynamics, there has been a marked rise in the number of hotels, restaurants and cafes, which has led to the growing demand for cheese shreds, used as toppings and ingredients in various food items.
Restaurants serving fast-food items have witnessed a rise in popularity, especially in the developing countries, which, in turn, has influenced the demand for processed cheese in form of shreds owing to the ease of use as ingredient and toppings. With increasing disposable incomes and growing demand for value-added dairy products from consumers from the HoReCa sector, stakeholders in the cheese shreds market are introducing high-quality cheese made using healthy ingredients along with different flavors of cheese shreds.
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