Global cheese market is likely to spur indefinitely with a CAGR of 3.84% during 2022-2028

07-Mar-2022 | Zion Market Research

The global cheese market is likely to grow from $123.87 billion in 2021 to $161.23 billion by the end of 2028. It is likely to exhibit exponential growth with a healthy CAGR of 3.84% during the forecast period. The report offers a deep analysis of the growth factors, restraints, opportunities, and challenges present in the market. Also, it facilitates a comprehensive study on the production capabilities, research and development strategies, competitive landscape, and sales performance of different companies.

Cheese became a primary component in the regular diet globally. Cheese has been widely accepted in society for almost seven thousand years. It is extracted from both pasteurized and raw milk. Cheese production undergoes a wide range of imperative steps, including coagulation, curdling inclusive of proteins like casein & whey, ripening, and fermentation.

Global cheese market

The global cheese market is likely to grow exponentially due to the rise of fast-food conglomerates globally. Giant fast-food chains are revolutionizing the burger consumption culture throughout the world. Burger and pizzas are laced with cheese and offered at subsidized prices to attract a huge consumer base. The high urbanization and increase in disposable income of the people is another key factor accelerating the growth of the global market. The world is progressing towards smart and metropolitan cities, causing a surge in urbanization and industrialization. Along with this urbanization and industrialization, there comes a transformation in lifestyle because of the increasing per capita income of people. It also leads to frequent visits to supermarkets and luxury shopping habits, which in turn will facilitate an uptick in demand for these products. However, the outbreak of the Covid-19 pandemic has affected the growth of the global cheese market as there was a sudden loss in sales in the foodservice sector due to the widespread Covid cases. Additionally, lack of movement affected the supply chain, which in turn has also downgraded the revenue in the market. But the online delivery channels have significantly grown up during the pandemic period, which has opened new avenues in the market and is likely to offer exponential growth in the forthcoming years. Veganism is expected to be the top growing trend in the forthcoming years which will inspire manufacturers to develop innovative alternatives and healthy products with exactly the same taste & textures. Additionally, sustainable products are likely to prevail more in the forthcoming years. The demand for this product in the future market will essentially be driven by organic nature and artisanal appeal.

Browse the full Global Cheese Market By Distribution Channel (Online, Retail Specialty Stores, Convenience Stores, and Hypermarkets), By Type (Hard & Soft Cheese, Spreadable, Block, Natural, and Processed), By Product Type (Feta, Parmesan, and Mozzarella), By Source (Plant and Animal-based Sources), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/cheese-market

The global cheese market can be segmented into the distribution channel, type, product, source, and region.

By distribution channel, the market can be segmented into online, retail specialty stores, convenience stores, and hypermarkets.

By type, the market can be segmented into hard & soft cheese, spreadable, block, natural, and processed.

By product type, the market can be segmented into feta, parmesan, mozzarella, and others.

By source, the market can be segmented into plant- and animal-based sources. The plant-based segment can further be bifurcated into soya, almond, cashew, and others. The animal-based segment can further be bifurcated into camel, goat, sheep, and cattle.

Europe accounts for the largest share in the global cheese market due to the growing demand of the people in the region for cheese-based products. Furthermore, the prevalence of flavored cheese products with artisanal appeal is likely to attract a huge customer base in the forthcoming years.

Some of the significant players in the global cheese market include Dairy Farmers of America Inc., The Kraft Heinz Co., Arla Foods, Kerry Group Plc, Aarkay Food Products Ltd, Kanegrade Limited, FrieslandCampina, Dairiconcepts, L.P., Lactose A/S, and Land O'Lakes, Inc.

Recent Developments

  • Dalter Alimentari, in March 2021, launched a new product – cheese matchsticks. It will cater to the requirements of the food manufacturing and foodservice sector. It is widely used as an ingredient in sauces, soups, ready meals, ready-made salads, as well as for fillings and stuffings.
  • Wensleydale Creamery introduced the Yorkshire creamery in October 2019 along with some other products like red Yorkshire, extra mature cheddar, and double Yorkshire.

Global cheese market is segmented as follows:

By Distribution Channel

  • Online
  • Retail Specialty Stores
  • Convenience Stores
  • Hypermarkets

By type

  • Hard & Soft Cheese
  • Spreadable
  • Block
  • Natural
  • Processed

By Product Type

  • Feta
  • Parmesan
  • Mozzarella

By source

  • Plant
  • Animal

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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