Canned Cheese Sauce Market

Global Canned Cheese Sauce Market Size (2024 to 2029)

The Global Canned Cheese Sauce market is predicted to reach USD 17.26 billion in 2024 and USD 20.20 billion by 2029, growing at a CAGR of 3.2% during the forecast period.

MARKET OVERVIEW

Canned cheese sauce is a kind of food product that is used as an additive or as a garnish in a variety of dishes around the world. The canned cheese sauce is mainly available in two variants of cheddar cheese sauce and nacho cheese sauce. Cheddar cheese sauce can be considered an English equivalent of French Mornay sauce. The global canned cheese sauce market is expected to experience substantial growth over the forecast period due to increased applications in various specialties. The cheese sauce is the traditional sauce used in English specialties. It includes cheddar cheese, white sauce and is flavored with mustard, pepper, and Worcestershire sauce. The canned cheese sauce is widely used on vegetables, various types of pasta, meat, and also as a sauce for many snacks. It is easily available nowadays at supermarkets and hypermarkets.

Market Drivers and Restraints

Major drivers of the canned cheese sauce market include rising consumer purchasing power, fast-paced consumer lifestyles globally, and growing demand for nacho and eggplant salsa cheddar cheese for various specialties, changing the eating habits of consumers and increasing its popularity fast food with cheese. Additionally, rapid urbanization, low storage costs, product innovation, and cheese transportation are driving market growth. However, the increasing number of adulteration cases and the availability of various cheese substitutes are hampering the growth of the market. Increased investment by market players in canned cheese sauce innovations is an emerging trend in the market. In addition, the canned cheese sauce market is seeing the entry of new players in the market due to the high demand worldwide. However, limiting the downstream segments such as branding, advertising and others poses a challenge to the market.

REPORT COVERAGE

DETAILED SEGMENTATION OF THE GLOBAL CANNED CHEESE SAUCE MARKET INCLUDED IN THIS REPORT

This research report on the global Canned Cheese Sauce market has been segmented and sub-segmented based on type, application, and region.

Global Canned Cheese Sauce Market By Type

• nacho cheese sauce
• jalapeño cheese sauce
• cheddar cheese sauce

The jalapeño cheese sauce segment is estimated to have the highest market share due to its high nutritional content such as minerals, vitamins, etc.

Global Canned Cheese Sauce Market By Distribution Channel

• supermarkets and hypermarkets
• convenience stores
• independent retailers
• online retailers

online retail segment is likely to dominate the market in the future due to the great popularity of online shopping.

Global Canned Cheese Sauce Market By Application

• food service
• retail

REGIONAL ANALYSIS

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Among these, North America led the world market for canned cheese sauce in terms of market share. The market for these canned cheese sauces in the Asia-Pacific region is growing due to increased consumption. Asia-Pacific and other emerging countries are expected to grow at a rapid pace in the canned cheese sauce market in the coming years compared to experienced markets in developed regions.

KEY PLAYERS IN THE GLOBAL CANNED CHEESE SAUCE MARKET 

The major key players in the Global Canned Cheese Sauce market are Tatua, Prego, Casa Fiesta, McCormick, Funacho, Kewpie, Berner Foods, Kerry Group, Bay Valley, AdFP advanced food products, Nestlé, Ragu, Kraft Foods, Knorr, and others.

RECENT HAPPENINGS IN THE MARKET

• Kraft Heinz Co announced that it would sell its natural cheese business to French dairy company Groupe Lactalis for $ 3.2 billion, increasing its marketing budget and reforming its supply chain, hoping to save $ 2 billion. $ 1 billion by 2024 and end weak sales and brand deterioration. The company also forecasts better-than-expected sales for the year, which will push Kraft Heinz shares up 1% in afternoon trading.
• When Hormel Foods Corp HRL.N, maker of Spam canned meat, said it was buying Applegate Farms in May, fans of the natural and organic meat company lamented its acquisition by Big Food on social media and shouted asked if the quality of the product would go down.
• Del Monte Pacific Ltd DMPL.SI, which is listed in Singapore, will buy Del Monte Foods Consumer Products Inc's canned food business, backed by private equity, for $ 1.7 billion, thereby gaining a direct market presence key market in the United States and which brings together a substantial part of the Del Monte family brand. Del Monte Pacific shares rose 10% with the deal.