2014-03-12 20:07:01 - Cheese in the US - a new market research report on companiesandmarkets.com
Kraft Foods remains the leader in the United States cheese market in 2012 with a value share of 28%, unchanged from 2011. The company owes its position to its dominance in processed cheese through its Kraft Singles and Kraft Philadelphia brands. Kraft has been successful in extending its Kraft Philadelphia cream cheese brand to include Cooking CrÃ¨me in 2011 and Indulgence in 2012. Kraft has a smaller presence in unprocessed cheese and faces numerous competitors, ranging from Sargento Foods to artisanal cheese producers and imported cheeses. The company has been busy introducing new products so as to distinguish it from private label.
Spreadable processed cheese is expected to be the best performer in 2012, with 5% and 10% current value and
volume growth, respectively. This performance has been driven by new product innovation from Kraft. In March 2011, the company introduced Philadelphia Cooking CrÃ¨me. A creamier extension of Kraft Philadelphia cream cheese, Philadelphia Cooking CrÃ¨me is designed to be used as a cooking sauce. In 2012, the company has launched Kraft Philadelphia Indulgence, a cream cheese with added dark, milk or white chocolate. The Kraft Philadelphia Indulgence line is geared towards snacking and aims to compete with Nutella, a hazelnut chocolate spread.
Growing knowledge about cheese varieties should aid sales over the forecast period. Retailers and cheese makers alike are expected to continue to educate consumers about speciality cheeses. Sales of cheese are forecast to increase by 9% in constant value terms and 4% in retail volume terms over the forecast period. The 4% retail volume growth will be much lower than the 8% achieved over the review period. Volume growth is expected to slow because review period growth had been boosted by the increase in home entertaining during the recession. A potential threat to the growth of cheese will be a steep rise in milk prices, which would raise cheese prices and deter consumers from purchasing such products.
- Retail volume sales of cheese set to grow by 2% in 2012 while value sales set to decline by 2% in current terms
- Lower cheese prices boost demand
- Spreadable processed cheese set to post the strongest current value growth of 5% and retail volume growth of 10%
- Average unit price declines in 2012 due to fall in the price of milk
- Kraft Foods leads cheese with a 28% value share in 2012
- Cheese expected to grow by 9% in constant value terms and 4% in retail volume terms over the forecast period
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