As per Persistence Market Research industry analysis, the global mascarpone cheese market is set to experience a value growth of around 9% CAGR over the next ten years. Demand for fast food is growing tremendously in developing markets as a result of busier lifestyles, increasing demand for consumption of functional and beverages, and rising disposal income of consumers.
Most of the younger generation and working-class demographic consume fast food at least once a day. This growing trend of consumption of fast food has a significant impact on the cheese market, as cheese is widely used for processing a variety of fast food products. Cheese is also a staple in households in developed countries, as it is used in breakfasts, lunches, and dinners. These factors are expected to fuel the growth of the global mascarpone cheese market over the coming years.
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Key Takeaways from Market Study
- The mascarpone cheese market in countries of South Asia & East Asia is expected to grow at CAGRs of 10.7% and 9.9%, respectively, through 2031.
- Regular mascarpone cheese is witnessing a prominent market value share at more than 93.3%. Different types of flavored mascarpone cheese products are also becoming popular among consumers, covering revenue of around US$ 393.6 Mn by 2031.
- Key contributing factor for the high production ratio of mascarpone cheese is wide application in the food industry in bakery products, desserts, confectionery, ice creams, and processed food.
- North America and Europe hold more than 60% share of the global market share, mainly on the back of high consumption of mascarpone cheese-based products in these regions.
- The foodservice industry holds a market value share around 46.4%, while the retail/household sector is anticipated to expand at a value CAGR of more than 11.2% in South Asia and 10.5% in the Europe, respectively.
- The U.S. and China hold significant shares for mascarpone cheese in North America and East Asia, respectively.
- COVID-19 has had a moderate impact on the demand for mascarpone cheese. However, with increasing demand for bakery, savory snacks, functional food products, losses are expected to be recovered in the near term.
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Mascarpone cheese manufacturers are focusing on increasing its application by investing in research & development to develop new products. Manufacturers who are a part of the global market are expected to continue coming up with numerous innovations to expand their product ranges.
- In the French market, Fista Group works in partnership with Jeneil, a company specialized in 100% natural dairy flavors. Jeneil is known in particular for the use of the EMC process (enzyme modified cheese) for elaborating cheese natural flavors.
- In 2020, Newlat Food S.p.A acquired Italy-based leading milk and milk ingredient manufacturer Centrale del Latte d’Italia (“CLI”). With this acquisition, the company reached revenue of over US$ 589.6 Mn and became the third-largest operator in the milk & dairy sector in Italy.
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