LONDON--(BUSINESS WIRE)--The global cheddar cheese market is expected to grow by USD 4.76 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%.
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Market estimates include pre- and post-COVID-19 impact on the cheddar cheese market - Request free sample pages
The global cheddar cheese market will have a positive impact due to the spread of COVID-19. The extension of containment efforts is leading to increased demand and reduced production. Hence, prices are expected to remain elevated during the short period, thereby resulting in an improved topline growth of market players.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by the increased demand for convenience foods. In addition, the improved accessibility to distribution channels is anticipated to boost the growth of the cheddar cheese market.
An increasing number of people are migrating from rural to urban areas. This has significantly increased the number of the female workforce. In addition, the rise in the urban population is leading to the adoption of new food habits, which is driving the demand for convenience foods. Hence, various supermarket and hypermarkets are increasing their stock of packaged food. Convenient foods such as cheese slices, cheese cubes, cheese sticks, cheese spreads, and others are popular among masses. Therefore, the growing demand for convenience foods is expected to fuel the growth of the global cheddar cheese market during the forecast period.
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Major Five Cheddar Cheese Companies:
Almarai Co. operates its business through segments such as Dairy and juice, Poultry, Bakery, and Other. The company offers cheddar cheese, which is used in food products such as sandwiches, pizzas, omelets, and others.
Arla Foods amba
Arla Foods amba operates its business through segments such as Europe, International, Arla Foods Ingredients, and Trading and other sales. The company offers cheddar cheese.
Associated Milk Producers Inc.
Associated Milk Producers Inc. operates its business through segments such as Cheese, Butter, Fluid milk, Whey, and Non-fat dry milk. The company offers cheddar cheese which is used in various food products.
Bel Group operates its business through segments such as Global Markets and New Territories. Cheddar cheese is one of the offerings of the company in the market.
Carbery Food Ingredients Ltd.
Carbery Food Ingredients Ltd. operates its business through segments such as Nutrition, Dairy, and Taste. The company offers cheddar cheese.
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Cheddar Cheese Market Distribution Channel Outlook (Revenue, USD Billion, 2020-2024)
Cheddar Cheese Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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