The global parmesan cheese market was valued at USD 12.54 billion in 2024 and is projected to rise from USD 13.18 billion in 2025 to USD 20.41 billion by 2032, reflecting a CAGR of 6.44% during the forecast period. Europe led the global market in 2024, accounting for 60.53% of the total share.

Parmesan cheese, also known as Parmigiano-Reggiano, is a renowned Italian hard, granular cheese recognized for its nutty, rich flavor. It is widely used in cooking and garnishing, with demand supported by the growing popularity of gourmet and specialty foods worldwide. Market growth is also being boosted by product innovations, strategic collaborations, and expansion of distribution channels by major companies.

Key players active in the market include The Kraft Heinz Company, Fonterra Co-operative Group Limited, Arla Foods amba, Saputo Inc., and others.

Information Source: https://www.fortunebusinessinsights.com/parmesan-cheese-market-113455

Market Trends

Strong Growth of Vegan Parmesan Cheese

Rising interest in plant-based diets, particularly across developed countries, is fueling demand for vegan parmesan alternatives. Consumers are increasingly adopting these products for both ethical and health-related reasons, with many willing to pay premium prices. This trend is especially prominent in Western markets such as North America and Europe, where Europe’s parmesan cheese sector grew from USD 7.33 billion in 2023 to USD 7.59 billion in 2024. Plant-based parmesan adoption is anticipated to expand globally, further accelerating market growth.

Segmentation Insights

• By Source: The market is divided into animal-based and plant-based parmesan cheese, with animal-based dominating due to traditional consumption patterns and broad availability.
• By Form: Grated parmesan holds the largest share, favored for its convenience and wide applications. Other forms include block, powdered, shredded, and more.
• By Distribution Channel: Supermarkets and hypermarkets lead the market, driven by promotions and discounts. Other channels include specialty shops, convenience stores, and online platforms.

Regional Outlook

The global market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe continues to dominate, backed by rich culinary traditions, strong consumer demand, and a preference for premium cheese varieties.

Competitive Landscape

Innovation and Product Expansion Shape Competition

The parmesan cheese market is characterized by strong competition among global and regional players. Companies are focusing on new product launches, innovation, and expanding distribution networks. For example, in January 2025, Fonterra Co-operative Group introduced Perfect Italiano Grated Parmesan Canisters in Australia, available in Traditional and Garlic Herb flavors.

Leading Companies in the Parmesan Cheese Market

• The Kraft Heinz Company (U.S.)
• Sargento Foods (U.S.)