The parmesan cheese market has an expected valuation of US$22.1 billion for 2032, increasing with a CAGR of 2.8 percent. Italy holds the producer market share, and at the end of 2021, production for the entire country reached 163.7 thousand tons.
Globally, cheese is one of the most popular flavouring agents for meals, as it s convenient and melts in warm dishes. The product is also suitable for varying dietary requirements due to its negligible amount of lactose. The extending shelf life of cheese products also contributes to the increasing demand.
Noticeable initiatives from industry players include Stella Cheese’s reintroduction of the classic Grana Padano and Parmigiano Reggiano products and Bel Brands' product expansion.
