The Asia Pacific Liquid Cheese Market would witness market growth of 3.7% CAGR during the forecast period (2023-2029).
The demand for cheese is expected to expand sharply in emerging economies, including Asia-Pacific. Because of shifting eating patterns, rising wages, and the expansion of restaurant chains that use cheese as a fundamental element, East Asia's per-capita cheese consumption has increased significantly. The liquid cheese market is boosted by Asia's rapid urbanization process, rising family incomes, and the middle- and upper-class population's growing adoration for Western culture.
A key consumer trend, especially among young people, appears to be the rising consumption of pizza and other fast foods made. The average-high-income portion of the population primarily resides in Asia's large cities, where the market is concentrated. As a result, consumer demand for packaged meals with cheese has been seen to increase sharply. Furthermore, lower cheese prices due to increased tariff-rate quotas and tariff reductions have boosted imports.
Indians have not historically been huge fans of eating out, despite the nation's established reputation as one that takes pleasure in its culinary heritage and the fact that each of its regions has its unique cooking style. The Indian restaurant sector has had rapid growth over the last ten years or more, and this upward trend is projected to last for at least the near future. Due to liberalization, the enormous Indian middle class grew along with the nation's restaurant business. Several factors contributed to the growth of the restaurant sector. These factors include quick urbanization, rising Western lifestyle knowledge, an increase in women entering the workforce, and rising discretionary money. These factors are fostering the expansion of the liquid cheese market.
The China market dominated the Asia Pacific Liquid Cheese Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,842.3 million by 2029. The Japan market is estimated to grow a CAGR of 3% during (2023 - 2029). Additionally, The India market would experience a CAGR of 4.3% during (2023 - 2029).
Based on Product Type, the market is segmented into Cheese Spread, Cheese Sauce, Cheese Dip, and Others. Based on Type, the market is segmented into Cheddar, Mozzarella, Parmesan and Others. Based on Distribution Channel, the market is segmented into Offline and Online (Supermarkets/hypermarkets, Convenience stores, Specialty stores and Others). Based on countries, the market is segmented into China, Japan, India, Australia, South Korea, Malaysia and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Liquid Cheese Market is Projected to reach USD 21.4 Billion by 2029, at a CAGR of 3.1%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Dairy gold Co-Operative Society Limited, Amul (The Gujarat Co-operative Milk Marketing Federation Ltd.), Gehl Foods, LLC, HP Hood LLC, La Preferida, Inc., Ricos Product Company, Lakeview Farms LLC, Veeba Food Services Pvt. Ltd., Dlecta Foods Private Limited, and Brunkow Cheese.
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