The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2014
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With per capita consumption of cheese varying significantly across regions, this briefing examines the largest and fastest growing countries and product categories and identifies key future growth markets for brands. This report also looks at some of the most intriguing new product launches in cheese as part of the industry’s drive to add value to products that are at risk of becoming commoditised.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Accounting for 50% of absolute value growth over 2013-2014, soft cheese is the fastest growing category in cheese. Product innovation and increased penetration in rapidly growing regions such as Latin America and the Middle East and Africa are the main drivers of growth.
As the largest global market for cheese, American consumers eat an average 11kg of cheese per year. While volume growth may be low (just 1%), it still contributed to 10% of additional volume sales in 2014. The biggest contribution however, came from Brazil with per capita consumption of just 6kg, making it a very interesting market as a further penetration can generate substantial new sales as cheese becomes a more important food item in the Brazilian diet.
Provenance, snacking and indulgence drive value growth are increasingly used to increase the appeal of product offerings.
“Matured in French Region” sells better than simply “cheese”.
Cheese has already been promoted as a healthy snack for children but increasingly it is being promoted for adult consumption as a high protein snack.
New eating occasions for cheese have evolved in recent years through indulgent variants, such as the Philadelphia cinnamon spread which is consumed as a sweet snack and a variety of new cheese brands are being turned into cooking ingredients which further augment the number of occasions during which cheese can be consumed.
When looking at key growth markets, priority should be given to low per capita cheese markets combined with a fast-developing modern retail environment and a population with growing awareness of Western cuisine.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.