Cheese sauce is also known as cheddar sauce or cheddar cheese sauce. Cheese sauce is commonly used for preparation of English, French and Italian cuisines. It is made using butter, flour, milk, pepper, salt, and cheese. In most cases, cheese sauce is made using cheddar cheese, however, it can also be made with gouda, gruyere, etc. It is primarily used for cooking pasta and dressing salads, nachos, meat, etc.
The global cheese sauce market is estimated to value at more than US$ 2.7 Bn in 2019, and is projected to register a CAGR of 3.4% in terms of revenue over the forecast period. The first five-year cumulative revenue (2019-2023) is projected to be more than US$ 15 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Global Cheese Sauce Market: Market Dynamics
Increasing number of fast food joints and continental restaurants is one of the major factor driving growth of the global cheese sauce market. Rising number of nuclear families in developing countries, and increasing popularity of fast food such as pizza, burgers, pastas, etc. among consumers, particularly children is expected to be another key factor boosting growth of the market.
In addition, availability of cheese sauce in regional and continental flavors to cater to the taste of consumers for variety of cuisines is expected to augment growth of the market over the forecast period. Moreover, various nutritional benefits offered by cheese, coupled with taste enhancing properties of cheeses are some of the major factors among others driving demand and consumption of cheese and related products.
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Global Cheese Sauce Market: Segmental Snapshot
The global cheese sauce market report has been segmented on the basis of product type, distribution channel, and region. The product type segment includes jalapeno, nacho, cheddar, and others. The distribution channel segment includes hypermarket, supermarket, convenience stores, online channels, food service industry, and packaged food industry. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Among the type segments, the cheddar segment is expected to account for majority revenue share and is expected to continue its dominance over the forecast period. Increasing usage of cheddar cheese sauce in households and fast food outlets expected to propel growth of the global cheese sauce market over the forecast period.
By Distribution Channel:
Among all the distribution channel segments, the supermarket segment in the target market has been estimated to account for majority revenue share, and is expected to register CAGR over 3.5% during the forecast period.
Asia Pacific market is expected to account for moderate revenue share in the global cheese sauce market in 2019. The market in Asia Pacific, is expected to register a CAGR over 2% over the forecast period.
The market in Middle East & Africa is estimated to register a CAGR over 1.5% during the forecast period. Strong presence of re-known fast food retail chains such as McDonald's, Domino's Pizza, and Dairy Queen (DQ) in developing and developed economies in the Middle East & Africa is generating demand for cheese sauce, and in turn is propelling growth of the Middle East & Africa cheese sauce market.
Global Cheese Sauce Market: Competitive Analysis
The research report on the global cheese sauce market includes profiles of major companies such as Gehl Foods, LLC, Conagra Brands, Inc., Unilever N.V., Kraft Foods Group, Inc., AFP advanced food products LLC, Bay Valley Foods, LLC, Nestle S.A., The Tatua Co-Operative Dairy Company Limited, Hexa Malaysia Sdn Bhd, and Prego S.A.
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The insight analysis on research report provides:
– The evaluated growth rate together with size and market share over the forecast period 2019-2028.
– The primary factors estimated to drive the Market for the forecasting period 2019-2028.
– The major Global market regulatory bodies and what has been their business expanding strategy for leading so far.
– Influential trends shaping the growth probabilities of the Market.
In-depth and complete business outlook, market revenue study, business expansion strategies, and SWOT analysis of the major leading players have been served in the report. Vendors in the Worldwide market are focusing to explore their operations to developing regions. More, companies in the market are concentrating on innovation and standing their products at competitive prices. A detailed analysis of supply chain in the report will help readers to understand market clearly.