Cream Cheese Market Analysis

Global Cream Cheese Market Overview

Cream Cheese Market Size was valued at USD 6.3 Billion in 2022. The Cream Cheese industry is projected to grow from USD 6.59 Billion in 2024 to USD 9.52 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.70% during the forecast period (2024- 2032). Increased consumption of fast food products such as hamburgers, pizza, and other items, as well as the advent and rapid expansion of quick service restaurants (QSRs) are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cream Cheese Market Trends

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  Growing awareness of health benefits is driving the market growth

  
  

The rising awareness of health benefits is driving market CAGR for cream cheese. People are progressively incorporating various cheese products into their everyday diets, propelling the cream cheese market forward quickly. Cream cheese has become a household staple consumers worldwide enjoy because of its exquisite taste and convenience. The food industry has seen increased demand for cream cheese. Besides being soft and creamy, cream cheese has a sweet and tangy flavor that distinguishes it from other cheeses on the market. As a result, it is preferred as a spread on sandwiches, rolls, and other everyday dishes in place of butter. Cream cheese's freshness and nutrition also contribute to its market expansion. Consumer health consciousness is considered a primary driving reason behind the expansion of cream cheese. The contemporary era's shifting consumer lives and dining habits are related to a large increase in market growth for cream cheese.

Consumers with varied palates are diverted to restaurants to consume distinctive beverages, the expansion of multi-cuisine restaurants to promote product innovation, and the growth of travel and tourism, which causes consumers to consume different desserts. As a result, the popularity of cream cheese in cafés and bakeries has skyrocketed. Consumers' desire to experience new ethnic flavors and cuisines has grown significantly. The increasing popularity of cheese flavor combinations in various cuisines, such as Italian and Mexican, has hastened the use of diverse kinds in these cuisines. The constantly expanding food service sector has demanded the creation of innovative products such as powder and creamers by leading product processors, which acts as a driving element. Flavored cheese is an emerging category that meets modern consumer desire for novel flavors such as herbal, spicy, and fruit. The industry is thriving globally, with developments and innovations introducing innovative products to the retail market.

One of the primary causes for the market's rapid expansion is the continual improvement in cream cheese production to make the product healthier. Cream cheese has been found in studies to prevent osteoporosis and build bones in adults and children, making it healthful. As a result, the demand for cream cheese has soared. With the rising popularity of brain and age-related supplements, cream cheese has emerged as one of the top solutions on the market. In addition to vitamin B, it contains potassium, which helps manage blood pressure. It also contains antioxidants, which aid in treating several aging-related disorders. Thus, driving the Cream Cheese market revenue.

Cream Cheese Market Segment Insights

Cream Cheese Source Insights

Based on the source, the Cream Cheese market segmentation includes milk, soy, almond, coconut and others. The coconut segment dominated the market, accounting for 35% of market revenue. It is a coconut source because coconut milk is used to make cream cheese. The majority of manufacturers utilize coconut milk since it has a better consistency. It also offers other benefits, such as strengthening the immune system, preventing anemia, promoting hair growth, and preventing various ailments. Increasing consumer awareness of the vegan diet and its health benefits boosts the market. Furthermore, the increased use of plant-based milk in various processed meals such as cakes, yogurt, smoothies, and others will help fuel market expansion.

Cream Cheese Category Insights

The Cream Cheese market segmentation, based on category, includes plain and flavored. The flavored segment dominated the market. Flavored cheese products have become popular among customers due to their distinct flavor and versatility in culinary applications. Cheddar with caramelized onion, blue cheese with cranberries, and feta with herbs are some popular flavors of flavored cheese. Manufacturers have introduced new creative flavors and packaging forms, such as snack-sized portions and handy resealable packaging, to meet this demand.

Cream Cheese Distribution Channel Insights

Based on distribution channels, the Cream Cheese market segmentation includes store-based and non-store-based. The store-based category generated the most income (70.4%). Weight reduction supplements are widely available at retail pharmacies, drug stores, health and beauty stores, and department stores, fueling segment expansion. "ecosystem" refers to a group working in the construction industry. Furthermore, store-based channels always boost total customer engagement and store experience. 

Figure 1: Cream Cheese Market, by Distribution channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cream Cheese Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific Cream Cheese market area will dominate this market; rising discretionary income levels in the region, combined with generally constant milk prices, have significantly contributed to increased sales of cheese variants. The rising use of cheese in various processed meals has raised demand in the region's food service business.

The major countries studied in the market report are German, France, the UK, Australia, Italy, Spain, China, Japan, India, The US, Canada, South Korea, and Brazil.

Figure 2: CREAM CHEESE MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Cream Cheese market accounts for the second-largest market share. The booming food and food service sectors in the area meet the increasing need for a broad variety of product variants in these sectors. Leading companies utilise focused marketing campaigns to boost processed cheese sales. The expansion of the regional market has also been aided by the creation of small firms. Rising public knowledge of the product's health benefits has compelled key stakeholders to strengthen processing capacities and meet ever-increasing product demand. In addition, the German Cream Cheese market had the biggest market share, while the UK Cream Cheese market was the fastest expanding in the European region.

The North America, Cream Cheese Market, is expected to grow fastest from 2023 to 2032. This is because of the high demand for sustainable and clean-label dairy items. Consumer preferences for natural, safe, and healthy products will drive segment expansion. Moreover, the US Cream Cheese market held the largest market share, and the Canada Cream Cheese market was the fastest-growing market in the North American region.

Cream Cheese Key Market Players & Competitive Insights

Leading industry companies are making significant R&D investments to diversify their product offerings, which will expand the Cream Cheese market. Key market developments include new product releases, agreements, acquisitions and mergers, higher investments, and collaboration with other companies. Market participants also engage in several strategic actions to increase their footprint. The Cream Cheese industry must provide a good price to grow and thrive in an increasingly competitive market environment.

Producing locally to reduce operating costs is one of the primary business strategies manufacturers adopt in the Cream Cheese industry to serve customers and expand the market sector. In recent years, the Cream Cheese industry has offered some of the most significant advantages to medicine. Major players in the Cream Cheese market, including Yili Group, and others, are attempting to increase market demand by investing in research and development operations.

Yili Group is a Chinese dairy product manufacturer based in Hohhot, Inner Mongolia processes and produces milk products such as ice cream, milk tea powder, sterilized milk and fresh milk under the "Yili" brand, powdered milk under the "Pro-Kido" brand, and organic milk under the "Satine" brand. In November 2021, Yili Group partially acquired Ausnutria Dairy Corporation LTD. It paid roughly HK$6.25 billion for 34.33% of its existing share from Citagri Easter Limited, Centre Laboratories Inc., BioEngine Capital Inc., and Dutch Dairy Investments HK Limited. This acquisition will help Yili Group maintain its leadership in the Asian dairy market.

Oatly Group AB is a Swedish food firm that makes oat-based dairy replacements. Oatly was founded in the 1990s as a result of Lund University research. Oatly's headquarters are in Malmö, and the company's production and development center is in Landskrona. Sweden, Germany, and the United Kingdom are among Oatly's primary markets. In may 2023, Sweden-based Oatly claims that the company's Philadelphia-based food scientists pioneered its new oat cream cheese innovation and that the product would be sold exclusively in Philadelphia before being disseminated to the rest of the United States later this year.

Key Companies in the Cream Cheese market include

• Good Planet Foods (US)


• Horizn Organic Dairy LLC (US)


• Alouette Cheese USA LLC (US)


• Franklin Foods (US)


• The Kraft Heinz Company (US)


• Galaxy Nutritional Foods, Inc. (US)


• Dr-Cow Tree Nut Cheese (US)


• Parmela Creamery (US)


• Arla Foods amba (Germany)


• Miyoko’s Creamery (US)


• WayFare Health Foods (US)


• Tofutti Brands, Inc., (US)


• Kite Hill (US)


• Follow Your Heart (US)


• Daiya Foods Inc. (Canada)

Cream Cheese Industry Developments

February 2023: Nurishh Incredible Dairy is made in collaboration with Perfect Day. It uses its animal-free whey protein created by precision fermentation, a breakthrough and sustainable technology that provides complete dairy protein and the taste and texture of traditional dairy without using animals. The fresh, pleasant taste and creamy texture of the Original Strawberry and Chive & Onion flavors elevate bagels, toast, and other foods.

January 2032: Remilk has announced that food giant General Mills will develop Bold Cultr Cream Cheese, created with Remilk's animal-free protein. The product is already available in Minnesota, with further distribution anticipated. It is Remilk's first commercial collaboration. According to Remilk, this is the first of three cream kinds of cheese that will be released, with further flavors such as Onion & Chive and Strawberry also on the way, according to CTech.

December 2022: Philadelphia, the category's leading cream cheese brand with a 69% share*, is introducing its trademark multi-sensory experience to the plant-based aisle. Philadelphia Plant-Based Spread is made with basic, high-quality ingredients and has a creamy, spreadable texture and great taste.

Cream Cheese Market Segmentation

Cream Cheese Source Outlook

• Milk


• Soy


• Almont


• Coconut


• Others

Cream Cheese Category Outlook

• Plain


• Flavored

Cream Cheese Distribution Channel Outlook

• Store-Based


• Non-Store-Based

Cream Cheese Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America