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 moreJun 2016
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Despite slowing cheese sales across developed markets, plenty of opportunity still exists for innovative and well-positioned (premium) products. Innovation in the food industry has led to a great number of successful new products, yet cheese has historically been more conservative. This briefing looks at consumer trends across the wider fmcg industry in order to identify growth drivers for cheese and turn around this growth trajectory.
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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.
The maturity of the market is putting pressure for brands to add value to their cheese offerings in order to keep share of the market where little new sales are generated. Especially health-orientated dairy products such as Greek yoghurt and other non-dairy products have outperformed dairy foods. Cheese falls behind these innovations as it has not jumped on the health bandwagon fast enough.
Low brand recognition for cheese makes it easier for retailers to give greater shelf space to private label. The rise of private label and its continuing evolution up and down the price spectrum has led to a more price-competitive environment. The low brand recall for cheese increases this threat as consumers are very willing to switch brands.
Due to the lengthy process involved in producing cheese, the industry is less robust to respond to consumer trends quickly and benefit from first-mover advantage. Packaging offers considerable added-value benefits that have not yet been explored by the cheese industry such as convenience, “snackification”, indulgence, etc. and is much faster to adopt.
Easing legislation around wine being sold through supermarkets in Canada and the US could be beneficial to pairing cheese with wine as an additional pocket of growth. If cheese can be purchased in the same store as wine, consumers are more likely to consider pairing one with the other as manufacturers can adjust their POS materials accordingly to tempt consumers.
Over recent years, scientific research has yielded new insights, and it seems that not all saturated fats are created equal, and that saturated dairy fat, for one, is not as detrimental to health as once thought. The accumulation of such findings is going to have an impact on public health policy in the foreseeable future and cheese should benefit.
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.