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Ricotta Market Size, Share and Analysis By Source (Dairy, Non-Dairy), By Distribution Channel (Supermarkets, Specialty Stores, Online Sales Channel) and Regional Forecast, 2024-2032

Published On : May 06, 2022 | Report ID: FBI106673 | Status : Ongoing

 

KEY MARKET INSIGHTS

The global production of dairy and dairy products has been rising rapidly and, therefore, exhibits a drastic growth in the market segment. With the evolution in consumers preferences, cheese production and consumption rate have seen a dramatic surge globally. Out of all the varieties, Ricotta Cheese is one of the most common varieties of cheese used for several culinary purposes on an industrial scale. Ricotta cheese; originates from Italy, composed of the whey of sheep's milk cheese, which is later heated to denature and coagulate to derive the end product. In comparison to the capita of milk production, India ranks a level below in the production rate of cheese.


India is expected to observe considerable growth in the cheese market segment as the emerging market sector. Globally, Europe and North America are the major countries consuming the highest percentage of cheese.


  • According to Springer, the cheese industry is estimated to grow at about 10-12% per year in terms of volume and 16-17% per year in value terms. The per capita consumption of cheese in India is too low, i.e., 2.4 kg per annum as compared to that in the United States, which is 20 kg/annum.

  • In the year 2020, according to a cheese reporter, an expected decline was observed in the purchasing frequency of milk powders; in contrast, a significant growth was observed in the purchasing frequency of cheese and butter, respectively.


The major ricotta cheese markets destinations are profiled by countries such as North America, Europe, Asia-Pacific, and the Rest of the World.

Impact of COVID-19 on Ricotta Market


Since the pandemic, the dairy industry has faced major alterations concerning manufacturing and distribution systems. The characteristics of dairy products, such as being highly perishable and sensitive to shelf life, have poorly impacted the growing dairy market sector to a higher degree. The mechanism of the food system for the dairy sector has been directly affected by the global health disaster. The global shutdown has certainly changed the lifestyle of the consumers in terms of accessibility and purchasing frequency. The global crisis has forced the population to be more health-conscious, which has a positive impact in the long run.


  • The long run of COVID-19 has largely affected the food system in terms of labor, cost, production, and transportation.

  • Since the pandemic, a halt has been observed in the production sector of dairy and dairy products, which has negatively impacted the consumption pattern of dairy products.

  • The rising trend of health-consciousness has increased the demand for vegan products, which influences the other competitors to fulfill the needs of the consumers.


Key Insights


The report will cover the following key insights:


  • Overview of Parent/ Related Market

  • Key growth strategies by Ricotta Cheese Manufacturers

  • Regulatory Analysis

  • Impact of COVID-19 on Ricotta Market


Analysis


The ricotta cheese market has been further distributed into supermarkets, specialty stores, and online sales channels. With the widespread of the novel coronavirus, several changes have been observed, leading to the diversity in consumer preferences. Besides dairy-based cheese, vegan ricotta cheeses are also booming in the dairy market. Supermarkets have always been the utmost choice of half of the population for purchasing concerns. Reasons such as easy accessibility and availability of a wide range of products lead the store-based channels market segment.

Furthermore, specialty stores are also participating in the food business market race. Several dairies act as specialty stores and supply one variety of products in the long run. Since the pandemic, the global shutdown has forced consumers to stay indoors, opting for non-store-based channels, mainly online sales channels. Online shopping has become very prominent during the COVID-19 pandemic, which has paved the way for the globalization of domestic and international trade centers. Qualities such as easy purchasing, delivery, and return policy have impacted the store-based channels, and hence these factors have drawn attention to the non-store-based retail channels.

Regional Analysis


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Since the pandemic, consumers are becoming more health-conscious regarding their dietary intake and overall health system. The consumption pattern of ricotta has been affected as compared to the pre-pandemic levels and hence, is expected to experience a spike in the upcoming period. Across the globe, North America and Europe are the leading countries to follow veganism which indirectly promotes the growing trend of ricotta cheese production in the forthcoming years.

Key Players


The report will include the profiles of key players such as Calabro Cheese Co. (U.S.), Great Valley (Italy), Lactalis American Group Inc. (U.S.), Organic Valley (U.S.), Sargento Foods Incorporated (U.S.), Whole Foods Market IP. L.P. (U.S.), Lyrical Foods, Inc. (U.S.), Tofutti Brands Inc. (U.S.), Granarolo S.p.A. (Italy), and Crystal Farms (U.S.).

Segmentation
















                 By Source


       By Distribution Channel


                                              By Geography



  • Dairy

  • Non-Dairy




  • Supermarkets

  • Specialty Stores

  • Online Sales Channel



 


  • North America (U.S., Mexico, and Canada)

  • Europe (Germany, France, Italy, Spain, U.K., Spain, and the Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and the Rest of Asia Pacific)

  • Rest of the World


 


Key Industrial Developments



  • The cheese business has seen steady growth since the pre-pandemic times, but the viral disease outbreak has influenced consumers' choices.  

  • The acceptability rate of cheese has never outgrown more than that of dairy or other dairy products, but substantial growth has been observed in the choices of consumers’.

  • Rising awareness regarding the health benefits of cheese/ vegan cheese varieties such as Kite Hill, Nut Free Vegan Ricotta Cheese has forced consumers to purchase the products accordingly.

  • Nabati Foods’, a plant-based company set up in the U.S., introduced a range of plant-based products such as dairy-free, vegan cheesecakes, cheddar style cheese shreds, and mozzarella in 2020. This company promotes egg-free, gluten-free, vegan, dairy-free, kosher, and GMO-free products.

  • The Laughing Cow will be launching plant-based cheese wheels in 2023. The product is still in process and will be adding on more to the varieties of cheese in the forecast period.

  • Freakin’ Healthy, a UAE-based snack company, has launched its cheese spread, the first locally-produced clean-label cheese spread. These cheeses are particularly composed of cashews and are the clean-label spreads that can pose a rising demand to the other producers in the market sector.





  • Ongoing
  • 2023
  • 2019-2022

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