4th
April 2019 - Global
canned cheese sauce market is estimated to witness substantial growth in the
forecast period due to increase in applications in multiple delicacies. Cheese
sauce is the traditional sauce used in English delicacies. It includes cheddar
cheese, white sauce (aka mother sauces) and is spiced with mustard, pepper, and
Worcestershire sauce. Canned cheese sauce is widely used in vegetables,
different types of pasta, meat, and also as a dip for several snacks. It is
readily available in supermarkets and hypermarkets.
The major driving factors of canned cheese sauce market comprise increase
in spending power of consumers, hectic lifestyle of consumers on the global
scale, rise in demand for nacho and cheddar cheese sauce for various
delicacies, change in eating habits of consumers, and rise in popularity of
fast-foods with cheese. Furthermore, rapid urbanization, low storage cost,
innovation in the product and transportation of cheese are fuelling the growth
of the market. However, rise in number of adulteration cases and availability
of several substitutes of cheese are hampering the market growth.
Increase in investment by the market players for innovations in the
canned cheese sauce is an emerging trend in the market. Additionally, canned
cheese sauce market is witnessing entry of new market players due to high
demand on the global scale. Nonetheless, limitation of the downstream segment
like branding, advertising, and brand building is challenging the market.
Market is categorized on the basis of type, distribution channel,
application, and geography. On the basis of type, market is divided into nacho
cheese sauce, jalapeno cheese sauce, cheddar cheese sauce, and others. The
jalapeno cheese sauce segment is estimated to hold maximum share of the market
owing to high nutritional content like minerals, vitamins, etc.
Based on distribution channel, market is divided into supermarkets and
hypermarkets, convenience stores, independent retailers and online retailers.
Online retailers segment is expected to lead the market in future owing to high
popularity of online grocery shopping. In terms of application, canned cheese
sauce market is divided into foodservice, retail, and others. Retail segment is
expected to hold larger share of the market due to high demand from consumers.
Geographically, canned cheese sauce industry is segmented as North
America, South America, Europe, Asia Pacific and Middle East & Africa.
North America is predicted to dominate the market in the coming years due to
increase in demand from consumers. Asia Pacific is also predicted to contribute
significantly in the forecast period due to high consumption rate.
The major players in canned cheese sauce market include Prego, Gehl
Foods, Conagra, Ricos, Knorr, Kraft Foods, Ragu, Nestlé, AFP advanced food
products, Bay Valley, Kerry Group, Berner Foods, Funacho, Kewpie, McCormick,
Casa Fiesta and Tatua.
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