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According to The Brainy Insights, the cheese snacks market is growing at a CAGR of 6.2% from 2022-2030. The growing demand for healthy and on-the-go snacks in countries such as the US, the UK, India, China, and Australia is anticipated to boost the demand for cheese snacks. A busy lifestyle and changing consumer preferences towards healthier snacking option is boosting the consumption of cheese snacks as these are rich in calcium and vitamins.
Product innovation in terms of clean labels and organic ingredients and a wide range of flavors is expected to provide lucrative opportunities for manufacturers in the coming years. Manufacturers are also focusing on adding indigenous and local regional flavors in their snacks to attract different groups of consumer.
During the covid-19 pandemic, there was an upsurge in the consumption of healthy snacks owing to the work-from-home culture and the closing of schools & colleges. At-home snacking has been a growing trend during the pandemic, with cheese snacks being widely enjoyed while watching TV, having a drink at home, or as a mid-morning/mid-afternoon snack for kids and children. These snacks are also popular among children owing to their creamy taste.
Various kinds of cheese are being used in cheese snacks. Cheddar and mozzarella are the most common type of cheese that is being used in cheese snacks owing to their distinct taste and flavor and their ability to blend with savory snacks. Moreover, both these kinds of cheese are rich in calcium and vitamin K, and vitamin B, thus, also promoting bone health.
Cheese snacks are sold worldwide through various distribution networks and manufacturers rely heavily on both, e-commerce and offline stores. Popular stores that keep cheese snacks include 7-Eleven, Walmart, Aldi, Carrefour, Lidl, and Tesco. E-commerce has been growing rapidly, especially post the outbreak of covid-19 as more consumers have started ordering snacks and grocery items through online websites and apps. PepsiCo also launched PantryShop.com and Snacks.com, two D2C e-commerce platforms in November 2020 to fulfill consumer demand to shop through online channel.
Key Players
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