Market Highlights:
Cheese is used as an important food ingredient across the globe. It is used as an additive or as the main ingredient in numerous cuisines. Cheese has been considered to be one of the naturally functional whole foods, which in turn has led to rise in demand of cheese and cheese-based snacks.
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Based on product type, the global cheese snacks market share has been segmented into baked, fried and others. The baked cheese snacks segment accounted for the maximum market share in 2017 and is expected to grow at a high rate during the forecast period. Owing to the factor, in North America consumers prefer baked item over fried snacks to avoid fat and oil. Fried cheese snacks are mainly preferred in South America, parts of Africa, Australia, and few other regions and the segment is expected to account for a substantial share of the market during the forecast period.
The global cheese snacks market share has been segregated, by distribution channel, into store-based and non-store based. The store-based segment has been further segregated into supermarkets and hypermarkets, convenience store, independent small groceries and others. The store-based segment is expected to generate higher revenue, with the supermarkets and hypermarkets sub-segment being the largest due to the strong and widespread network of stores. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online retailing.
Regional Analysis:
On the basis of region, the global cheese snacks market share has been segmented by North America, Europe, Asia-Pacific, and RoW. North America is expected to dominate the global cheese snacks market share owing to the changing eating patterns and regular snacking between meals, especially in the US.
The cheese snacks market share in Asia-Pacific is expected to grow rapidly due the factor that cheese owns the tag of a naturally functional whole food. Hence, manufacturers in Asia-Pacific are marketing cheese snacks as a nutritional and health snacks. Emerging markets such as China and India are projected to contribute to the growth of the regional cheese snacks market share. India is the largest market, where cheese snacks is being increasingly used, due to changing consumption patterns and preferences of consumers. Moreover, cheese snacks are preferred option amongst almost all group of consumers, because of its tasty and savory flavor.
Key Players:
Some of the key players in the global cheese snacks market are Sargento Foods Inc (US), PepsiCo, Inc. (US), McCain Foods Limited (Canada), TINE SA (Norway), Utz Quality Foods, Inc. (US), ITC Limited (India), General Mills, Inc. (US).
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