30th January 2020 – Global Canned Cheese Sauce Market is estimated to witness substantial growth in the forecast period due to increase in applications in multiple delicacies. Cheese sauce is the traditional sauce used in English delicacies. It includes cheddar cheese, white sauce (aka mother sauces) and is spiced with mustard, pepper, and Worcestershire sauce. Canned cheese sauce is widely used in vegetables, different types of pasta, meat, and also as a dip for several snacks. It is readily available in supermarkets and hypermarkets.
The major driving factors of canned cheese sauce market comprise increase in spending power of consumers, hectic lifestyle of consumers on the global scale, rise in demand for nacho and cheddar cheese sauce for various delicacies, change in eating habits of consumers, and rise in popularity of fast-foods with cheese. Furthermore, rapid urbanization, low storage cost, innovation in the product and transportation of cheese are fuelling the growth of the market. However, rise in number of adulteration cases and availability of several substitutes of cheese are hampering the market growth.
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Increase in investment by the market players for innovations in the canned cheese sauce is an emerging trend in the market. Additionally, canned cheese sauce market is witnessing entry of new market players due to high demand on the global scale. Nonetheless, limitation of the downstream segment like branding, advertising, and brand building is challenging the market.
Market is categorized on the basis of type, distribution channel, application, and geography. On the basis of type, market is divided into nacho cheese sauce, jalapeno cheese sauce, cheddar cheese sauce, and others. The jalapeno cheese sauce segment is estimated to hold maximum share of the market owing to high nutritional content like minerals, vitamins, etc.
Based on distribution channel, market is divided into supermarkets and hypermarkets, convenience stores, independent retailers and online retailers. Online retailers segment is expected to lead the market in future owing to high popularity of online grocery shopping. In terms of application, canned cheese sauce market is divided into foodservice, retail, and others. Retail segment is expected to hold larger share of the market due to high demand from consumers.
Leading players of Canned Cheese Sauce including:
• Gehl Foods
• Bay Valley Foods
• Conagra Foodservice
• Newman'S Own
• Frito-Lay (Pepsico)
• Kraft Foods
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Geographically, canned cheese sauce industry is segmented as North America, South America, Europe, Asia Pacific and Middle East & Africa. North America is predicted to dominate the market in the coming years due to increase in demand from consumers. Asia Pacific is also predicted to contribute significantly in the forecast period due to high consumption rate.