LONDON–Technavio has been monitoring the cheddar cheese market and it is poised to grow by USD 4.76 billion during 2020-2024, progressing at a CAGR of 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Almarai Co., Arla Foods amba, Associated Milk Producers Inc., Bel Group, Carbery Food Ingredients Ltd., Dairygold Co-Operative Society Ltd., Fonterra Co operative Group Ltd., Groupe Lactalis, Ornua Co-operative Ltd., and The Kraft Heinz Co. are some of the major market participants. The increased demand for convenience foods will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Increased demand for convenience foods has been instrumental in driving the growth of the market.
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