Ricotta Market Research Report: By Source (Milk, Almonds, Cashews, Soy, Others), By Category (Dairy, Vegan) and By Distribution Channel (Store-Based, Non-Store-Based) – Forecast to 2028

Ricotta Market Overview

Ricotta Market is projected to be worth USD 873 million By 2028, with a CAGR of 5.3% from 2021 to 2028.

Ricotta can be understood as an Italian whey cheese that is made from sheep, cow, goat, or Italian water buffalo milk whey left over from the production of other cheeses. Ricotta is winning over the tasteful preferences of people that are emerging as the target audience for the ricotta market during the ongoing forecast period that will be ending in 2028. Like other whey cheeses, it is made by conducting the process of coagulating the proteins. As compared to most cheeses, ricotta is considered to be a healthier choice as it contains less salt and 10 percent fat, of which 6 percent is saturated. It’s a light flavor input in various food products and low salt content makes it perfect for use in sweet or savory dishes. Ricotta is further, understood to be a smooth cheese with a creamy mild taste and a thick texture. It can also be air-cured or dried in the oven to suit the cooking preferences of various needs to make it into a harder, sharp-tasting cheese that can be grated.

COVID 19 Analysis

The sudden outbreak of the pandemic and the rising health concerns related to the health of the potential market audience is a parallel approach that is well covered in the discussion for the ricotta industry during the forecast period of 2021-2028. The outbreak has led the market players and global governments to take sudden decisions that are hampering the market size followed by losses owing to a major decline in the market trends.

However, the need to return to normalcy prevails and hence, there has been a rise in investments for the expansion of the market size during the forecast period of 2021-2028.

Market Dynamics

Drivers

The ricotta market has been soaring high owing to an increased degree of demand of the market products and services in the global market scale during the forecast period that will be ending in 2028. The global ricotta market trends are witnessing the emergence of significant market growth owing to the increasing use of ricotta cheese across varied cuisines. Moreover, there has been a substantial degree of rising in the per capita disposable income across many emerging economies is creating lucrative growth opportunities for the ricotta during the forecast period that will be ending in 2028.

Restraints

The ricotta market is exposed to certain kinds of challenges that might hamper the projected growth of the market that has been projected by the business chiefs and experts for the ongoing forecast period that will be ending in 2028. However, the market is facing issues like a high price that is associated with the market services and the product is projected to hamper the overall growth of the ricotta market.

Technology Analysis

The demand for ricotta is increasing across the globe, owing to the increasing use of ricotta cheese across varied cuisines. Ricotta cheese is used in Italian cuisines. It becoming popular in other European and North American cuisines also. Additionally, the growing veganism trend is a prominent one that belongs to the market and is across the North American and European countries. This is anticipated to be a substantial growth factor for the ricotta market during the forecast period. Furthermore, the rising per capita disposable income of the global target audience across many emergsing economies is creating lucrative growth opportunities and chances for the ricotta during the forecast period that will be ending in 2028.

Segment Overview

The ricotta market value is projected to be increasing during the forecast period of 2021-2028 owing to the excellent performance of the market segments in the global market premises. The global market has been segmented based on the following factors:

By Source

Milk: The milk segment of the ricotta market has been projected to account for the largest market share during the historic forecast period that had ended in 2019 and is projected to remain dominant during the forecast period that will be ending in 2028. Milk is considered the most common source of ricotta cheese. Ricotta cheese is known to be made from cow, goat, sheep, and buffalo milk. The buffalo milk variable is widely preferred.

• Almonds


• Cashews


• Soy


• Others

By Category

Dairy

Vegan: The vegan segment of the ricotta market is projected to be the fastest-growing segment during the forecast period that ends in 2028. The growing trend that is emerging in the market as a concept of veganism and vegetarian diets coupled with the increasing prevalence of lactose intolerance among the North American and European populations are anticipated to emerge as some of the key factors driving the growth of the vegan segment in the global market premises.

By Distribution Channel

• Store-Based: The ricotta market trends suggest that majority of ricottas are sold through store-based retailers. This segment includes supermarkets, hypermarkets, convenience stores, and others. The supermarkets & hypermarkets segment dominated the market in the historic period that had ended in 2019 and is anticipated to remain dominant during the forecast period of 2021-2028.


• Non-Store-Based

Regional Analysis

The European market had dominated the ricotta market during the historic forecast period that had ended in 2019.

The Asian Pacific region is anticipated to offer lucrative opportunities for the ricottas market during the forecast period ending in 2028. The increasing purchasing capacity, and the rapid development of emerging economies, are anticipated to create lucrative opportunities for the market producers and manufacturers.

Competitive Landscape

The ricotta market share is rising in the global market premises owing to the functioning and competition that prevails amongst the following market players:

• Tofutti Brands Inc. (US)


• Calabro Cheese Co. (US)


• Crystal Farms (US)


• Lyrical Foods, Inc. (US)


• Great Value (Italy)


• Sargento Foods Incorporated (US)


• Lactalis American Group, Inc. (US)


• Organic Valley (US)


• Granarolo S.p.A. (Italy)


• Whole Foods Market IP. L.P. (US)

Recent Developments

• The global ricotta market is likely to be experiencing an exponential growth rate in the last couple of months, as a part of the historic forecast period before the pandemic hit the international market scenario. This projected growth can be mainly attributed to the increasing use of ricotta cheese across global cuisines that suit various tastes and preferences of people.


• Ricotta is a part of the market product line that has been originated in Italy and is now increasingly becoming popular among the US population. It promises versatility in various cuisines has led to increasing the popularity of ricotta.  Additionally, the growing trend for veganism and vegetarian diets across the world is also expected to increase the demand for ricotta in the global market premises.


• Additionally, the trends of the market support that people that are allergic to dairy-based products can opt for vegan ricotta as an excellent and tasteful substitute. This market trend and advancement is expected to boost the growth of the ricotta market up to a certain extent.


• The increasing degree of the per capita disposable income across emerging market economies is expected to boost the global market during the forecast period that will be ending in 2028. The market is witnessing a growing demand as there is an increase in the spending capacity is expected to increase the sale of various specialty cheese. For instance, according to data that has been circulated by the Agricultural and Processed Food Products Export Development Authority, India, the middle and upper-middle-class population in India are likely to be witnessing an increased degree of sales of different styles of imported and domestic cheese such as cheddar, Mozzarella, Parmesan, Emmenthal, and others like Gouda, and Ricotta, especially amongst the rising population of the millennials.

Report Overview

The global Market Analysis to the forecast period that will be ending in 2028 is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis that is likely to help the market grow or restrain from growing as per the propelling market trends. The global market report aims to provide an overview of the ricotta market with detailed market segmentation regarding the source, category, distribution channel, and geography where the trends propel and the market functions. The global market is expected to witness a higher CAGR growth during the forecast period that will be ending in 2028. The global report provides key statistics on the market status of the leading ricotta market players and offers key trends and opportunities prevailing in the global market.