Parmesan Cheese Market to Reach $23.0 Billion, Globally, by 2031 at 4.3% CAGR: Allied Market Research

Increase in the global adoption of parmesan , increase in the production of parmesan-based snacks, and surge in popularity of parmesan as a functional and nutritional drive the growth of the global parmesan market.

PORTLAND, Ore., Feb. 7, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Parmesan Cheese Market by Type (Powdered, Grated, Shredded, Wheels), by Nature (Dairy, Vegan), by Category (Conventional, Organic), by End User ( Processing, Service, Retail): Global Opportunity Analysis and Industry Forecast, 2021-2031”. According to the report, the global parmesan cheese industry generated $15.4 billion in 2021, and is anticipated to generate $23.0 billion by 2031, witnessing a CAGR of 4.3% from 2022 to 2031.

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Prime determinants of growth

Increase in the global adoption of parmesan cheese, increase in the production of parmesan-based snacks, and surge in popularity of parmesan cheese as a functional and nutritional food drive the growth of the global parmesan cheese market. However, easy availability of alternatives such as processed cheese, cheddar cheese, mozzarella cheese, and Swiss cheese restricts the market growth. Moreover, many market participants are making vegan parmesan cheese that are nearly identical to the dairy version, which is helping to promote vegan parmesan by allowing consumers to experience the same feel of parmesan without consuming any animal products and helps increase the Parmesan Cheese Market Size. The inclusion of vegan options in parmesan cheese is attracting the vegan population, thereby presenting new opportunities for the market growth in the coming years.

Covid-19 Scenario

  • The outbreak of the Covid-19 pandemic had a positive impact on the global parmesan cheese market, owing to the increase in demand for various types of food ingredients and toppings for home .
  • The…

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