Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

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The global cheese market was worth more than US$ 48 Billion in 2017. The market is further projected to cross US$ 80 Billion by 2023, at a CAGR of 9% during the year 2018-2023. Cheese refers to a dairy product which is produced in a wide range of flavours, textures and forms by coagulating the milk protein casein, usually derived from the milk of cows, buffalo, goats, or sheep. Cheese has been valued for ages due to its portability and longer shelf- life. Apart from this, it is a good source of nutrients, such as calcium which is vital for building strong bones and certain high-quality proteins that provide essential building blocks for strong muscles. In addition to this, it contains other important nutrients like phosphorous, zinc, vitamin A and vitamin B12. As a large variety of cheese is produced in the different parts of the globe, its texture and flavour mainly rely on the origin of the milk, whether it is aged, pasteurized or processed.

Global Cheese Market Drivers:

  • Fast food chains represent one of the major consumers of cheese worldwide and due to the increasing urbanisation and rising disposable incomes across the globe, the fast food industry is growing at a healthy rate. The high growth of the fast food industry is expected to result in an increased consumption of cheese in the near future.
  • Emerging markets like China and India are anticipated to drive the global cheese market in the coming years. Earlier, the consumption of cheese was largely confined to western countries, however, with the increasing trend of westernisation of food consumption patterns along with growing economy, rise in middle class population and increasing urbanisation, the consumption of cheese in these markets are expected to grow.
  • The growth of the organised retail sector is positively impacting the global cheese market. Until a few years ago, a number of global players were hesitant to sell their products in developing countries due to the fear of spoilage and lack of infrastructure, storage facilities and appropriate knowledge about the developing market. Nevertheless, with an increase in the number of organised retail stores, many players are investing in the markets like India and China.
  • With an increase in the marketing initiatives taken by a number of players through various advertising mediums, such as newspaper, television, etc., the product awareness amongst the population in a number of new markets is augmenting.

Cheese Industry Trends

Breakup by Source:

On the basis of source, the global cheese market is segregated as cow milk, buffalo milk, goats milk and others.

Breakup by Type:

Based on type, the market is segmented into natural and processed. Currently, naturally produced cheese is preferred over the processed formulation on account of increasing health awareness amongst the consumers. 

Breakup by Product:

On the basis of product, the global cheese market is divided as mozzarella, cheddar, feta, parmesan, roquefort and others. It is commonly used in pizzas, lasagne as well as pasta and enjoyed by people across the globe owing to its taste and healthy nutrients.

Breakup by Format:

Based on format, the market is classified into slices, diced/cubes, shredded, blocks, spreads, liquid and others. Different formats of cheese are employed in the preparation of numerous food products like sandwich, wrap, pizza, etc.

Breakup by Distribution Channel:

On the basis of distribution channel, supermarkets and hypermarkets represent the biggest segment as they offer convenience to the consumers. They are followed by convenience stores, specialty stores, online and others.

Regional Insights:

On a geographical front, the European Union enjoys a leading position in the global cheese market due to its high demand in the region. In comparison with fluid milk, cheese is regarded as the second most preferred dairy product in the European Union. It is followed by North America, Latin America, Europe (excluding European Union), Oceania and Asia.  

Competitive Landscape:

The market is fragmented in nature with the presence of several large and regional manufacturers who are competing in terms of prices and quality. In the recent years, the industry has been witnessing innumerable expansions via merging and acquisitions which are taking place amongst regional players across the globe. There prevails a tough competition in the market which makes it difficult for small players to enter. Some of the major players operating in the market are:

  • Lactalis Group
  • Fonterra
  • FrieslandCampina
  • Dairy Farmers of America
  • Arla Foods
  • Bongrain SA


This report provides a deep insight into the global cheese industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cheese manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cheese industry in any manner.

Key Questions Answered in This Report:

  • How has the global cheese market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global cheese industry?
  • What are the major sources in the global cheese industry?
  • What are the key product segments in the global cheese industry?
  • What are the major format types in the global cheese industry?
  • What are the key product types in the global cheese industry?
  • What are the major distribution channels in the global cheese industry?
  • What are the price trends of cheese?
  • What are the various stages in the value chain of the global cheese industry?
  • What are the key driving factors and challenges in the global cheese industry?
  • What is the structure of the global cheese industry and who are the key players?
  • What is the degree of competition in the global cheese industry?
  • What are the profit margins in the global cheese industry?
  • What are the key requirements for setting up a cheese manufacturing plant?
  • How is cheese manufactured?
  • What are the various unit operations involved in a cheese manufacturing plant?
  • What is the total size of land required for setting up a cheese manufacturing plant?
  • What are the machinery requirements for setting up a cheese manufacturing plant?
  • What are the raw material requirements for setting up a cheese manufacturing plant?
  • What are the packaging requirements for cheese?
  • What are the transportation requirements for cheese?
  • What are the utility requirements for setting up a cheese manufacturing plant?
  • What are the manpower requirements for setting up a cheese manufacturing plant?
  • What are the infrastructure costs for setting up a cheese manufacturing plant?
  • What are the capital costs for setting up a cheese manufacturing plant?
  • What are the operating costs for setting up a cheese manufacturing plant?
  • What will be the income and expenditures for a cheese manufacturing plant?
  • What is the time required to break-even?

1    Preface
2    Scope and Methodology
 
   2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Cheese Industry
    5.1    Market Overview
    5.2    Market Performance
        5.2.1     Volume Trends
        5.2.2     Value Trends
    5.3    Price Analysis
        5.3.1    Price Indicators
        5.3.2    Price Structure
        5.3.3    Price Trends
    5.4    Market Breakup by Source
    5.5    Market Breakup by Type
    5.6    Market Breakup by Product
    5.7    Market Breakup by Distribution Channel
    5.8    Market Breakup by Format
    5.9    Market Breakup by Region
    5.10    Market Forecast
    5.11    SWOT Analysis
        5.11.1    Strengths
        5.11.2    Weaknesses
        5.11.3    Opportunities
        5.11.4    Threats
    5.12    Value Chain Analysis
        5.12.1    Raw Material Procurement
        5.12.2    Manufacturing
        5.12.3    Marketing
        5.12.4    Distribution
        5.12.5    Exports
        5.12.6    End-Use
    5.13    Porter’s Five Forces Analysis
        5.13.1    Overview
        5.13.2    Bargaining Power of Buyers
        5.13.3    Bargaining Power of Suppliers
        5.13.4    Degree of Competition
        5.13.5    Threat of New Entrants
        5.13.6    Threat of Substitutes
6    Market Breakup By Source
    6.1    Cow Milk
    6.2    Buffalo Milk
    6.2    Goats Milk
    6.2    Others
7    Market Breakup By Type
    7.1    Natural
    7.2    Processed
8    Market Breakup By Product
     8.1   Mozzarella
     8.2   Cheddar
     8.3   Feta
     8.4   Parmesan
     8.5   Roquefort
    8.6    Others
9    Market Breakup By Distribution Channel
    9.1    Supermarkets and Hypermarkets
    9.2    Convenience Stores
    9.3    Specialty Stores
    9.4    Online 
    9.5    Others
10   Performance by Format
    10.1    Slices
    10.2    Diced/Cubes
    10.3    Shredded
    10.4    Blocks
    10.5    Spreads
    10.6    Liquid
    10.7    Others
11   Performance of Key Regions
    11.1    European Union 
    11.2    North America
    11.3    Latin America 
    11.4    Europe (Excluding European Union)
    11.5    Oceania
    11.6    Asia
12    Competitive Landscape
 
  12.1    Market Structure
    12.2    Key Players
13    Cheese Manufacturing Process
    13.1    Product Overview
    13.2    Detailed Process Flow
    13.3    Various Types of Unit Operations Involved
    13.4    Mass Balance and Raw Material Requirements
14    Project Details, Requirements and Costs Involved
    14.1    Land Requirements and Expenditures
    14.2    Construction Requirements and Expenditures
    14.3    Plant Machinery
    14.4    Machinery Pictures
    14.5    Raw Material Requirements and Expenditures
    14.6    Raw Material and Final Product Pictures
    14.7    Packaging Requirements and Expenditures
    14.8    Transportation Requirements and Expenditures
    14.9    Utility Requirements and Expenditures
    14.10    Manpower Requirements and Expenditures
    14.11    Other Capital Investments
15    Loans and Financial Assistance
16    Project Economics

    16.1    Capital Cost of the Project
    16.2    Techno-Economic Parameters
    16.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    16.4    Taxation and Depreciation
    16.5    Income Projections
    16.6    Expenditure Projections
    16.7    Financial Analysis
    16.8    Profit Analysis
17    Key Player Profiles
    17.1    Lactalis Group
    17.2    Fonterra
    17.3    FrieslandCampina
    17.4    Dairy Farmers of America
    17.5    Arla Foods
    17.6    Bongrain SA

 

List of Figures

Figure 1: Global: Cheese Industry Overview
Figure 2: Global: Cheese Market: Volume Trends (in Million Metric Tons), 2010-2017
Figure 3: Global: Cheese Market: Value Trends (in Billion US$), 2010-2017
Figure 4: Global: Cheese Market: Price Trends (in US$/Ton), 2010-2017
Figure 5: Global: Cheese Market: Breakup by Region (in %), 2017
Figure 6: Global: Cheese Market Forecast: Volume Trends (in Million Metric Tons), 2018-2023    
Figure 7: Global: Cheese Market Forecast: Value Trends (in Billion US$), 2018-2023
Figure 8: Global: Cheese Market Forecast: Price Trends (in US$/Ton), 2018-2023
Figure 9: Global: Cheese Industry: SWOT Analysis
Figure 10: Global: Cheese Industry: Value Chain Analysis
Figure 11: Global: Cheese Industry: Porter’s Five Forces Analysis
Figure 12: European Union: Cheese Market (in Metric Tons), 2010, 2017 & 2023
Figure 13: North America: Cheese Market (in Metric Tons), 2010, 2017 & 2023
Figure 14: Latin America: Cheese Market (in Metric Tons), 2010, 2017 & 2023
Figure 15: Europe (Excluding European Union): Cheese Market (in Metric Tons), 2010, 2017 & 2023
Figure 16: Oceania: Cheese Market (in Metric Tons), 2010, 2017 & 2023
Figure 17: Asia: Cheese Market (in Metric Tons), 2010, 2017 & 2023
Figure 18: Cheese Manufacturing Plant: Detailed Process Flow
Figure 19: Cheese Manufacturing Process: Conversion Rate of Products
Figure 20: Cheese Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 21: Cheese Industry: Profit Margins at Various Levels of the Supply Chain
Figure 22: Cheese Production: Manufacturing Cost Breakup (in %)


 

List of Tables

Table 1: Global: Cheese Market: Key Industry Highlights, 2017 and 2023
Table 2: Global: Cheese Market Forecast: Breakup by Region, 2018-2023
Table 3: Global: Overview of Top Cheese Manufacturers
Table 4: Typical Composition of Cheddar Cheese
Table 5: Cheese Manufacturing Costs Related to Land and Site Development (in US$)
Table 6: Cheese Manufacturing Costs Related to Civil Works (in US$)
Table 7: Cheese Manufacturing Costs Related to Milk Reception Section (in US$)
Table 8: Cheese Manufacturing Costs Related to Milk Processing Section (in US$)
Table 9: Cheese Manufacturing Costs Related to Cheese Section (in US$)
Table 10: Summary of Machinery Costs (in US$)
Table 11: Raw Material Requirements
Table 12: Costs Related to Salaries and Wages (in US$)
Table 13: Costs Related to Other Capital Investments (in US$)
Table 14: Details of Financial Assistance Offered by Financial Institutions
Table 15: Capital Costs (in US$)
Table 16: Techno-Economic Parameters
Table 17: Taxation and Depreciation
Table 18: Income Projections (in US$)
Table 19: Expenditure Projections (in US$)
Table 20: Cash Flow Analysis Without Considering the Income Tax Liability
Table 21: Cash Flow Analysis on Considering the Income Tax Liability
Table 22: Profit and Loss Account


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