Global Cheddar Cheese Market 2019-2023| Increasing Marketing Initiatives to Boost Growth| Technavio

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LONDON–(BUSINESS WIRE)–lt;a href="" target="_blank"gt;#Cheddarlt;/agt;–The global cheddar cheese market is expected to post a CAGR close to 4%
during the period 2019-2023, according to the latest market research
report by Technavio.

A key factor driving the growth of the market is the increased demand
for convenience foods. The rising urban population is inculcating new
habits developing preferences for international food patterns. Hence,
various supermarket and hypermarkets are increasing their stock of
convenient packaged food. For instance, convenient forms of cheeses such
as slices, cubes, sticks, spreads, dips, crumbles and shreds are making
them popular among masses, as they can be consumed readily and easily.
Hence, the growing demand for convenience foods encourages vendors to
expand their cheddar cheese offerings in the RTE segment, which, in
turn, drives the growth of the global cheddar cheese market.

As per Technavio, the increasing marketing initiatives will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
cheddar cheese market 2019-2023
research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

Global cheddar cheese market: Increasing
marketing initiatives

Vendors in the global cheddar cheese market are following integrated
marketing communication by using newspapers, magazines, and social media
platforms such as YouTube and Facebook, to sell their products. These
communication channels are playing a key role in generating product
awareness among people globally. For instance, in 2018, Pilgrim’s
Choice, a brand of Ornua Co-operative, as a part of its marketing
campaign, asked people to share their cheese dreams on social media and
promised to turn them into advertising. This creative strategy lends a
note of fun and authenticity to the brand and increases consumer’s
interests for its products. Such marketing initiatives are expected to
increase during the forecast period, which will result in increased
sales of cheddar cheese.

“Apart from the increasing marketing initiatives, the growth in the
expansion of cheese production facilities is another major factor
driving the growth of the global market. Dairy products manufacturers
are expanding their capacities and are building new processing plants to
explore new market opportunities in cheese products and meet the
increased demand of customers. They are focusing on increasing their
production capabilities and capturing major market share to improve
competitive advantage and drive the growth of the market,”
says a
senior analyst at Technavio.

Global cheddar cheese market: Segmentation

This market research report segments the global cheddar cheese market by
distribution channel (online and offline) and geographical regions
(APAC, Europe, MEA, North America, and South America).

The European region led the market in 2018, followed by North America,
APAC, South America, and MEA respectively. However, during the forecast
period, the APAC region is expected to register the highest incremental
growth due to the rise in disposable income that is resulting in
changing consumer preference for global cuisine, the high growth
potential of the dairy industry, and the improving retail sector.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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