Global Cheese Market: Demand Analysis and Growth Forecast
As per the findings of a newly published market research report by IndustryARC, the global Cheese Market size was around $65 billion to $68 billion in 2018 and is estimated to grow with a CAGR of around 2.5% to 3.5% during the forecast period 2019-2025. The analyst of the report observes that cheese has become a primary component in daily diet not only in western parts of the world but also in Eastern parts.
Rising number of health-conscious urban consumers coupled with an increase in obesity-related problems are fueling the demand for the low-fat cheese, and the cheese marketplace is boosted by strengthened supply chain of major players. Foodies are switching to low-fat cheese to save about 3 grams of saturated fat and 40 calories per ounce, which in turn reduces the intake of fat. The rapid changes in lifestyle and eating patterns have resulted in the establishment of numerous cheese stores by various popular cheese manufacturers touting a variety of health benefits and further stroking the demand. 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 (2019-2025).”
Browse 63 Market Tables, 177 Figures spread through 160 slides and an in-depth TOC “Cheese Market (2019 - 2025)”
Global Cheese Market: Leading Segments
The analyst of the report identifies that the hypermarket and supermarket - distribution channel is the key application segment, and demand from the same will be incrementing at a compounded annual growth rate of around 2% to 3% during the forecast period 2019 to 2025. The increasing number of hypermarkets and supermarkets is a reflection of increased disposable income of urban population in developing economies and changing food preferences with Pizzas and Burgers gaining popularity.
Based on the geographical analysis, Europe held the largest cheese market demand share in 2018 at about 38% to 40%. Cheese is an important ingredient of European diet and it forms an integral component of many European dishes. Many people in Europe depend on cheese for their protein intake, and cheese is the favorite travel food for many European travelers are enhancing the growth of the cheese market in this region.
According to USDA, in the U.S., the total cheese production was 1.12 billion pounds, 3.0 percent above October 2017 and 6.1 percent above September 2018. Cheese is a major source of protein and calcium for normal growth and development, particularly for bones and teeth. The calcium in cheese and other dairy products is more easily consumed by the body than that from plant foods.
Cheese production undergoes several imperative steps such as curdling, coagulation involving proteins such as casein and whey, ripening, and fermentation. This process leads to the development of different kinds of cheese such as Mozzarella cheese, cheddar cheese, Gouda, Muenster, Parmesan, and Romano, and the product portfolio is luring newer customers in the cheese market. The cheese market is at a great advantage because the utilization of cheese is very popular among households. It is perceived as a snack for children and adults with high protein content and has transformed into a crucial component in an individual’s diet.
Cheese Market Trends
- AgResearch’s transgenic cow research has produced transgenic cows, which increased kappa casein in their milk for better cheese making, higher cheese yield, and to improve calcium content in the milk.
- The evolution of cheese into packaged snack food has led to the introduction of different types of cheeses with new flanged flavor profiles.
- Emerging markets like China and India are anticipated to drive the global cheese market in the coming years. With the rise in middle-class population, increasing urbanization, and westernization of food patterns, and the consumption of it in the cheese markets are expected to grow.
Cheese Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global cheese market are: Almarai Co. Ltd., SARGENTO FOODS INCORPORATED, FrieslandCampina, Dzintars, Go Cheese, Parag Milk Foods, Gebrder Woerle Ges.m.b., Mother Dairy, Old Fashioned Cheese, Vindija dd, and Bletsoe Cheese, Inc.
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Cheese Ingredients Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2024
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