Cheese is a popular dairy product produced in an extensive range of flavors, textures, & forms by coagulating the milk protein derived from cows, buffalo, goat, or sheep milk. Due to its versatility, cheese has expansive utilization in different food items as a prominent ingredient and is valued for ages due to its portability & impressive shelf-life.
Besides, the popularity of cheese owing to its richness of nutrients like calcium for building strong bones & strong muscles is also demonstrating its high demand. Other nutrients, like phosphorous, zinc, vitamin A and vitamin B12, are also present in cheese, making it a prominent ingredient in the confectionary & fast food industry.
The Global Cheese Market is projected to grow at a CAGR of around 3.6% during the forecast period, i.e., 2022-27. The market is driven by the swift expansion of the fast-food & convenience industry, entwined with the growing inclination of people toward trying new food, demonstrating a rise in the demand for cheese.
Besides, the versatile application of cheese in diverse food items is paving the way for their high demand across different corners of the world and instigating the leading players to increase their production & distribution capacities and cater to the rising demands worldwide.
In addition, the emergence of trends like consuming fresh, natural, handmade, specialty, & artisan cheese varieties is also gaining popularity among consumers globally, owing to the growing awareness among people about the safer & premium natural processing techniques. This aspect is playing a prominent role in positively influencing the market growth.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: The US, Canada, Mexico, Rest of North America|
|Europe: Germany, The UK, France, Italy, Spain, Rest of Europe|
|Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia Pacific|
|South America: Brazil, Argentina, Rest of Latin America|
|Middle East & Africa: UAE, South Africa, Rest of The Middle East & Africa|
|Key Companies Profiled||Arla Foods Group, Amul, BEL Group, Chicago Mercantile Exchange, Dalter Alimentari Spa, DMK Deutsches Milchkontor GmbH, Dairy Farmers of America, Inc., Fonterra Co-operative Group Limited, FrieslandCampina, Glanbia Plc., Lactalis International, Meiji Holdings, Royal FrieslandCampina N.V., Saputo, Inc., The Kraft Heinz Company, The Ilchester Cheese Company, Wensleydale Creamery, Others|
|Unit Denominations||USD Million/Billion|
Moreover, the escalating health consciousness among people and their inclination toward healthy snacks are also backing the high demand for cheese, especially specialty and artisan cheeses, for their clean-label and natural ingredients. Furthermore, constant food experimentation to bring novel flavors & tastes across assorted artisan cheese varieties is further driving the demand for cheese and stimulating the overall market growth.
Impact of Covid-19 on the Global Cheese Market
The advent of Covid-19 had a negative impact on the Global Cheese Market. With the imposition of stringent movement restrictions & lockdowns by the governments of different countries worldwide to curb the spread of this dreadful disease, the entire supply chain was hampered due to travel restrictions, demonstrating a shortage of products at stores, processing facilities, and others.
Besides, owing to the uncertainty of the lockdowns, people began stockpiling goods & introduced a temporary hike in demand for cheese amidst the crisis. Moreover, as people adopted cooking hobbies during lockdowns, the requirement for ingredients like cheese witnessed an upsurge, instigating the leading players to increase their production & distribution capacities and cater to the rising demands.
Sales from online platforms offering doorstep delivery and exciting deals also contributed to market sustainability during the global crisis and generated opportunities for the players to generate revenue. Furthermore, with the gradual improvement in the pandemic situation demonstrating an upliftment of restrictions, the market began to swiftly revive and regain its usual pace while adopting strategies to sustain in case such a situation occurs again.
Based on Product:
Here, Cheddar Cheese is anticipated to witness massive demand and contribute substantially to the Global Cheese Market during the forecast period. It owes principally to the extensive application of cheddar cheese in a variety of food & dietary supplements. Besides, the burgeoning demand for cheddar cheese is further backed by the growing popularity of exotic cuisines, like pizza, pasta, etc., positively influencing the overall market growth.
Moreover, the swift expansion of the food industry is likely to exemplify a prominent factor contributing to the high demand for cheddar cheese and stimulating the overall market growth. Additionally, the rising popularity of on-the-go snacks & food products may also project a rise in the utilization of cheddar and widen the demand for cheese.
Based on Type:
Here, processed cheese is anticipated to dominate the Global Cheese Market with the largest share during the forecast period. It owes principally to the growing inclination of people, especially the younger generation, toward snack food like chips & pretzels, demonstrating an accelerating demand for processed cheese. The popularity of these snacks is seen extensively among the millennials owing to the growing trend of healthy snacking.
Besides, other trends, like keto diets, are also fueling the demand for processed cheese in their protein-rich snacks and playing a prominent role in contributing to the market growth. It, in turn, is also generating growth opportunities for the leading players to increase their production & distribution capacities and cater to the rising needs worldwide. Moreover, the active participation of the manufacturers and their focus & investments in developing snacks like cheese cubes, sticks, on-the-go slices, & crisps, among others, shall positively influence the overall market growth during the forecast period.
On the geographical front, the Global Cheese Market expands across:
Here, Europe acquired the largest market share in the previous years and is anticipated to prevail in the same trend during the forecast period. This dominance is backed by the presence of several prominent players established throughout different countries in the region, actively participating in the market by introducing new variants to gain regional dominance & expansive consumer base. Besides, excellent marketing strategies adopted by the prominent players to widen the sales of cheese are also contributing to the overall market expansion in Europe.
On the other hand, North America is anticipated to exemplify the fastest growth in the Global Cheese Market during the forecast period. It owes principally to the growing consumer demand & focuses on sustainable & clean-label dairy products, including cheese, generating growth opportunities for the leading players to increase their production & distribution capacities and cater to the rising needs throughout the region.
Recent Developments in the Global Cheese Market
Leading player Lactalis Group aimed to acquire established players in the industry to strengthen its global presence & expand its consumer base & revenue generation.
As the living standards of the people are improving swiftly and demonstrating a growing consumption of fat-based products like cheese, the population of people suffering from health issues like obesity, cholesterol, and diabetes, among others, is also mounting. It, in turn, generates consciousness among people to eliminate the consumption of such food and attain healthy eating habits. This aspect might restrain the fledged sales of cheese and affect the fledged market growth in the coming years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Cheese Market is projected to grow at a CAGR of around 3.6% during 2022-27.
A. Growing health consciousness among people due to the rising awareness about the risks associated with fat consumption might restrain the fledged growth of the Global Cheese Market during the forecast period.
A. Processed Cheese is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Cheese Market during the forecast period.