According to the latest report by IMARC Group, titled “Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global cheese market size reached US$ 69.7 Billion in 2019. Cheese is a highly nutritious and appetizing milk-derived food product, prepared using cow, buffalo or goat milk. It is a vital and indispensable part of a wide range of fast food products and an essential ingredient of daily meals in regions, such as Western Europe and North America. It is also one of the most consumed fermented food worldwide, owing to its diverse flavors and textures. In recent years, cheese has gained widespread popularity across the globe as it is a rich source of proteins, vitamins, riboflavin, calcium, phosphorus and zinc. These nutrients aid in cavity prevention, improves bone strength and weight loss, as well as minimize the chances of developing cancer, regulate blood pressure levels and enhance skin texture.
Global Cheese Market Trends:
The escalating demand for cheese can be attributed to the rising number of fast-food chains across the globe led by urbanization, the emerging trend of eating out, rising consumption of processed foods and inflating income levels. Furthermore, the organized retail sector, in countries like China and India, has witnessed rapid development with improvement in storage facilities. This has motivated various cheese manufacturers to enter these markets. Besides this, innovative marketing strategies adopted by cheese manufacturers have resulted in rising product awareness, particularly among consumers in untapped markets. Moreover, there has been a rise in the prevalence of obesity and a consequent increase in health consciousness, owing to which consumers are shifting toward low- or zero-fat products. This trend has prompted manufacturers to introduce a range of fat-free cheese variants. Looking forward, the market value is projected to reach US$ 112.8 Billion by 2025, growing at a CAGR of 8.4% during the forecast period (2020-2025).
- Based on the source, the market has been segmented into cow milk, buffalo milk, goat milk and other sources. Cow milk currently represents the most popular source of cheese across the globe.
- On the basis of the type, the market has been bifurcated into natural and processed cheese. At present, naturally produced cheese is the most preferred type among consumers.
- The market has been segregated based on the product into mozzarella, cheddar, feta, parmesan, Roquefort and others. Amongst these, mozzarella dominates the market, holding the largest market share.
- Based on the distribution channel, the report finds that the majority of the cheese is distributed through supermarkets and hypermarkets. Other major channels include convenience stores, specialty stores, online and others.
- On the basis of the format, the market has been classified into slices, diced/cubes, shredded, blocks, spreads, liquid and others. Presently, cheese is mostly consumed in the form of slices across the globe.
- Region-wise, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others) exhibits a clear dominance in the market. Other major markets include North America (the United States and Canada), Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Araba Emirates and others).
- The competitive landscape of the market has also been examined, with some of the key players being Lactalis Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Dairy Farmers of America (DFA) Inc., Arla Foods amba and Savencia SA.
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