As per the market outlook foreseen by the IndustryARC business intelligence report, several factors positively influencing the global arcade demand are: evolving dietary trends, increasing disposable income, acceptance of pasteurized form of products, unprecedented infusion of fast food chains in F&B sector, and surplus availability of milk, which is a primary raw material for the cheese manufacturers. The report is titled “Cheese Market: Product Type (Cheddar, Mozzarella, Semi-soft cheese, Processed cheese, Others) Milk Source (Cow, Sheep, Goat, Buffalo, Others) Distribution Channel (Supermarkets/Hypermarkets, Other kinds of Stores) & Geography – Forecast (2018 - 2023).”
Global Cheese Market: Demand Analysis
Cheese is a dairy product loaded with high proteins, vitamins, and minerals. Variants in the taste and texture of cheese inclusive of its processing and aging methods have consequence a large range of high-quality cheese products being employed in the billion dollar rapidly growing F&B industry worldwide, which accounts for nearly 10% of global GDP as per the World Bank.
Browse 63 Market Tables, 177 Figures spread through 160 slides and an in-depth TOC on “Cheese Market (2018 - 2023)”
Global Cheese Market- Disruptive Trends in Major Economies:
- According to the Centers for Disease Control and Prevention, by 2016 one of three Americans (36%) consumed a meal at fast-food eateries on any given day. Some of the leading fast-food chains across the U.S are McDonald’s, KFC, Pizza Hut, Domino’s Pizza and Burger Kings. Application of cheese in these F&B giants can be indicated by the fact that Leprino Foods, a leading market player, often rated as America’s all-time monopolist, manages to converge an annual revenue of $3 billion by supplying mozzarella cheese to Pizza Hut, Domino's, and Papa John's.
- India, the largest producer of milk accounting for 10% of the global production, is witnessing its dairy products companies stepping up their operations to cater to the cheese market demand. A classic example is of Amul, India’s largest dairy with 40% share in cheese market, tripling its capacity in the last two years. With majority of the population being vegetarian, milk-based products are indispensable in the enormous Indian market. Increasing disposable income is also diverting traffic from cereal and carb diet towards protein-rich food, resulting in stroking the cheese market with abundant demand.
- Other prominent country-wide cheese market are France, Iceland, Finland, Denmark and Germany. As per the Canadian Dairy Information Centre, consumption rate per capita in these regions is an astonishing 55lbs. The growing population of working individuals diverting towards fast-food outlets and supermarkets for food-consumption is also influencing the cheese demand very positively.
- Production of cheese is not solely dependent on high-end technologies and manufacturing can be accomplished via low cost traditional methods and machineries. This factor can be capitalized upon by rural area manufacturers supported by abundant availability of milk in their respective region. Supporting such developments, Indian Government’s Ministry of Micro, Small and Medium Enterprises has evaluated a report projecting a considerable 9% profit on sales by such cheese manufacturing endeavors.
Surge in disposable income can be termed as a by-product of increasing urban population. Both the phenomenon adjacent to each other has pioneered the dine-out culture supporting the robust growth of food-outlets delivering value-added dietaries which mandate cheese delicacies. Growing health awareness is also positively affecting the cheese uptake among consumers due to its mineral contents. On the other hand, FDA’s severe stance towards microbes, organisms, and fecal contamination are major constraints hindering the cheese production.
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Dairy Products Market: By Product (Milk, Cheese, Butter, Yogurt, Milk Powder, Sour Milk); By Duration (Fresh, Long-life); By Distributional Channel (Supermarkets/hypermarkets, Discounters, Convenience stores, Departmental Stores) & By Geography - Forecast (2017-2022)
Dairy Protein Market: By Type (MPCs, MPIs, WPCs, WPIs, Casein & Caseinates); By Source (Milk, Whey); By Form (Liquid, Powder); By Application (Bakery & Confectionery, Dairy Products, Convenience Food, Infant Nutrition) & Geography - Forecast(2018 - 2023)
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