Parmesan Cheese Market Outlook, Dynamics and Strategic Insights by 2031

 

parmesan-cheese-market


The Parmesan cheese market is witnessing robust growth owing to the rising demand for premium and authentic cheese products across the globe. As consumers increasingly shift towards high-protein, natural, and gourmet food options, Parmesan—a hard, aged Italian cheese made from cow’s milk—is gaining traction not only in traditional markets like Europe and North America but also in emerging regions like Asia-Pacific and Latin America. The market was valued at US$ 17.8 billion in 2023 and is projected to reach US$ 27.3 billion by 2031, expanding at a CAGR of 5.4% during the forecast period (2023–2031).

Market Driver

The key growth drivers for the Parmesan cheese market include increased health consciousness among consumers, rising disposable income, and the growing popularity of Western cuisines globally. Parmesan cheese, being rich in calcium, protein, and vitamins, fits well into the wellness-driven eating habits of modern consumers. Additionally, the increasing use of Parmesan in ready-to-eat meals, pasta dishes, salads, and pizzas is fueling consumption in both household and food service sectors.

Market Segmentation

1. By Form:

·         Grated

·         Powdered

·         Shredded

·         Blocks/Wedges

2. By Distribution Channel:

·         Supermarkets/Hypermarkets

·         Specialty Stores

·         Online Retail

·         HoReCa (Hotels, Restaurants, Catering)

3. By Region:

·         North America

·         Europe

·         Asia-Pacific

·         Latin America

·         Middle East & Africa

Europe continues to dominate the Parmesan cheese market, driven by its rich cheese culture and the presence of leading manufacturers in Italy. However, Asia-Pacific is expected to be the fastest-growing region owing to increasing urbanization, western dietary influence, and growing retail infrastructure.

Strategic Developments

Prominent market players are focusing on launching organic and lactose-free variants to cater to niche consumer segments. Companies are also investing in attractive packaging, cold chain logistics, and e-commerce channels to improve product reach and brand visibility. In 2022, Parmalat, BelGioioso Cheese Inc., and Granarolo S.p.A. increased their investment in automation and sustainability practices to meet the rising demand for clean-label and traceable products.

Market Challenges

Despite its promising outlook, the Parmesan cheese market faces certain restraints such as the high cost of production, stringent EU labeling regulations (particularly around Protected Designation of Origin or PDO), and increasing competition from imitation cheeses. Additionally, fluctuating dairy prices and supply chain disruptions post-pandemic continue to present risks for manufacturers.

Future Outlook

With increasing culinary exploration and the rise of gourmet and fine dining culture globally, the demand for authentic Parmesan cheese is expected to continue its upward trend. Manufacturers focusing on product differentiation, strategic partnerships, and regional expansion will likely gain a competitive edge in the years ahead.

FAQs – Parmesan Cheese Market

1.       What is the current value of the Parmesan cheese market?
The market is valued at around US$ 17.8 billion in 2023.

2.       What is the projected CAGR of the market?
The market is expected to grow at a CAGR of 5.4% from 2023 to 2031.

3.       Which region dominates the Parmesan cheese market?
Europe is the leading market, especially due to strong demand from Italy and France.

4.       Which segment is growing rapidly in Asia-Pacific?
Online retail and foodservice applications are showing rapid growth.

5.       What are the major types of Parmesan cheese available?
Grated, shredded, powdered, and block forms.

6.       Why is Parmesan cheese considered healthy?
It’s high in protein, calcium, and vitamins, making it a good fit for health-conscious consumers.

7.       Who are the key players in the market?
Notable companies include BelGioioso Cheese Inc., Granarolo S.p.A., Lactalis Group, and Saputo Inc.

8.       What are the main challenges for this market?
High production costs, regulatory barriers, and counterfeit products.

9.       How is technology helping the Parmesan cheese market?
Technology aids in automated packaging, cold chain logistics, and supply chain traceability.

10.    What is driving growth in emerging markets?
Rising disposable income, urbanization, and increasing Western culinary influence.

 

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