Press Release Description

A USD 181.2 Billion Global Cheese Market to Surge at a CAGR of Around 5.85% During 2024-30

The Global Cheese Market size was valued at about USD 181.2 billion in 2023 & is projected to grow at a CAGR of around 5.85% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The cheese market is experiencing rapid growth, propelled by the increasing demand for convenient and protein-rich food options worldwide. Consumers now prefer hassle-free, nutrient-dense products like cheese more than ever before. This shift in dietary choices has been further fueled globally through the promotional efforts of culinary shows and amplified reach via social media platforms, positioning cheese as a dominant preference among consumers worldwide, consequently expanding considerably with continued prospects projected into the future.

In addition, the global cheese industry is going through remarkable expansion, spurred by the emergence of adaptable product variations that can be used for diverse gastronomic purposes like burgers, pizzas, and pasta. Prominent producers are broadening their range with flavorful, handcrafted, and plant-based alternatives to meet changing customer tastes. Armored Fresh, a subsidiary of Yangyoo, launched plant-based cheese across over 100 markets in NYC in October 2022, utilizing plant-based lactic acid and almond milk to mimic the protein content of animal-based cheese. With substantial funding and plans to expand nationwide, Armored Fresh aims to penetrate the U.S. market through prominent grocery retailers, indicating a promising trajectory for plant-based cheese within the industry.

Moreover, the cheese market is experiencing a positive price trend driven by strategic collaborations and partnerships among industry leaders aiming to enhance their brand presence. Notably, Britannia Industries' alliance with Bel in December 2022, resulting in Bel acquiring a significant stake in Britannia's subsidiary, Britannia Dairy, has fortified its position in India's growing cheese market. This collaboration includes the joint sale and production of co-branded products under the renowned trademarks ‘The Laughing Cow’ and ‘Britannia’. Additionally, Heritage Foods made a significant entry into the cheese market in February 2021 with the launch of mozzarella and processed cheese products. Emphasizing the purity of cow milk in their variants, Heritage Foods targets consumers of all ages with naturally flavored cheese suitable for diverse consumption preferences.

Global Cheese Market

Furthermore, the rising trend of snacking between meals is positively influencing the cheese market share. Apart from this, the introduction of numerous cheese variants, such as flavored, artisanal, and plant-based options, catering to various consumer dietary requirements and preferences, is projected to elevate the cheese market revenue in the coming years, further states the research report, “Global Cheese Market Analysis, 2024.”

Segmentation Analysis

The Mozzarella Segment Holds a Significant Market Share

Based on the product type, the market is further bifurcated into cheddar, Mozzarella, Blue, Parmesan, Feta, Roquefort, and others. Mozzarella holds a major market share due to its widespread use in various culinary applications, such as home-cooked meals like pasta, pizza, enchiladas, and risotto. It is globally consumed, with growing demand observed in the Asia Pacific and Middle Eastern regions because of popular Western food trends. Mozzarella's versatile nature complements American, Italian, and fusion dishes, leading to diverse cuisines' adoption of both modern and traditional recipes.

Moreover, mozzarella being a preferred ingredient for convenience foods drives market growth positively, while QSR sector expansion further boosts prospects, ensuring sustained growth ahead.

Europe Leads the Global Cheese Market

The European cheese market dominates, with a wide range of options available throughout the region. Love Cheese, Italia Regina, and La Gourmeta are key online retailers driving growth in this industry. Italy, France, Germany, and the Netherlands hold major shares of Europe's cheese consumption due to their production capabilities. Despite the already high per capita consumption rates in Europe, it is still expected that they will maintain their position as the largest market. The exportation of quality European cheese remains strong despite rising raw material costs, which shows consumers' willingness to invest greatly in these products. Today’s marketplace sees firms focusing on consolidation through acquisitions while exploring new innovative ways for product development. France considers its cheeses culturally significant, whereas regional Italian cuisine featuring parmesan, mozzarella & pecorino contributes further momentum toward keeping dominance within the European market intact.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Arla Foods, Glanbia, Fonterra, Kraft Natural Cheese, Saputo, Bel Group, Dalter Alimentari Spa, Frieslandcampina, DMK Deutsches Milchkontor Gmbh, Lactalis International, Meiji Holdings, Amul, Crystal Farms Dairy Co., Savencia Sa, Land O’Lakes, and others (Kerry Group, etc.), are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping up across the regions?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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