Global Cheese market, which was estimated at approximately 112 (USD Billion) in 2019 and is predicted to accrue earnings worth nearly 150 (USD Billion) by 2026, is set to record a CAGR of nearly 4.57% over 2020-2026.
The global Cheese market, which was estimated at approximately 112 (USD Billion) in 2019 and is predicted to accrue earnings worth nearly 150 (USD Billion) by 2026, is set to record a CAGR of nearly 4.57% over 2020-2026. The report offers valuation and analysis of Cheese market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).
Introduction
Intake of cheese provides myriad health advantages to an individual and is a best source of proteins, vitamins, and minerals. In addition to this, the product is available in different flavors and textures. It is formed through milk protein casein coagulation. Furthermore, the milk of sheep, cow, goat, and buffalo is utilized for the purpose.
Market Growth Drivers
Altering food habits, rise in the fast food chain firms, and rise in the intake of pizzas, pastas along with easy availability of milk will steer the market landscape over the ensuing years. In addition to this, application of cheese in myriad cuisines will proliferate the business scope over the forecast timeline. Apparently, rise in the proportion of eateries as well as quick-service hotels are projected to impel the market demand over the years ahead. Furthermore, cheese comprises large proportion of fats, calcium, and minerals, thereby offering lucrative benefits including strong tooth and bones. This, in turn, will amplify the market size in the coming years.
Moreover, surging purchasing capacity and huge utilization of low-fat cheese products will create lucrative growth avenues for the cheese business globally within a couple of years. Nonetheless, increase in the obesity rates and increase in the proportion of heart problems witnessed due to high product intake can decimate the market growth over the years ahead. However, surging necessity of protein rich diet will add to the expansion of the market in the years to come.
Asia Pacific Market Size To Increase At Massive Rate Over 2020-2026
The dominance of the regional market over the assessment timespan can be credited to easy availability of the processed cheese in the countries like India. In addition to this, easy availability of cheese slices, cheese slabs, and cheese cubes in India is projected to further steer the regional industry expansion. Countries like China and Japan are few of the key regional revenue drivers apart from India.
Key players contributing remarkably towards the market surge include Brunkow Cheese Factory, Parag Milk Foods, Mother Dairy, Kraft, Almarai, Bletsoe Cheese, Bega Cheese, Hook's Cheese Company, Cady Cheese Factory, Amul, Bel Group, and Burnett Dairy.
The global cheese market is segmented as follows:
By Product
By Type
By Region
This report is based on in-depth qualitative and quantitative analyses of the global Cheese market. Zion Research has collected and analyzed key data belong to the global Cheese market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Cheese across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Cheese industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Cheese market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Cheese is derivate milk product with high protein content and finer taste. Cheese is prepared by curdling of milk and further fermenting it. Cheese consists of the extensive range of products which differs in texture, taste, process and origin of milk. Cheese is either prepared naturally or by adding additives and microbes. Some of the majorly consumed cheese is goat cheese, swiss cheese, vegetarian cheese, asiago cheese, cream cheese and blue cheese among others. Cheese is consumed across the globe owing to its properties such as bone strength and weight gain.
Cheese is widely used in almost every fast food to attain great taste and texture. Asian economies are extensively adopting fast food with huge cheese content coupled with radically growing fast food chain especially in India and China is expected to fuel the growth of the cheese market in near future. High protein content along with rising dietary pattern is likely to incite the growth of the cheese market in the coming years. However, rising health concerns among obese populace due to the high fat content of cheese may influence the growth of the cheese market. Nevertheless, product diversification is anticipated to provide the wide scope for the growth of the cheese market in the forecast period. Furthermore, increasing demand for dairy products to cope up with the consumer’s requirement for superior nutrition may experience healthy growth in demand for inventive cheese products.
Based on the type the cheese can be segmented as natural and processed cheese. Natural cheese seized the cheese market in 2015 due to its high nutrition content, admirable texture, and original taste. Processed cheese emerged as the potential segment owing to its several and diverse use in fast food such as the use of cheese slice in burgers, drinking cheese in pizza & tacos and among others. Various products segments for cheese include mozzarella, cheddar, feta, Roquefort, and others. Cheddar clutched the cheese market in 2015 with remarkable market share. This was mainly attributed to its unique properties and can be processed into slice, grated, liquid and among others. Cheddar cheese possess long shelf life which makes its first preference for consumers.
Europe governed the majority of the cheese market share in 2015 and is expected to further promote the cheese market growth in the coming years. A factor contributing to the splendid growth in Europe is massive daily consumption of cheese in this region. Cheese is the integral component in European diet, as Europeans are dependent on cheese for their protein intake. North America was the second largest cheese market in 2015. This was mainly due to the daily intake of cheese through fast food coupled with extremely expanded fast food chain in North America. U.S was the largest producer of cheese in 2015. Asia Pacific is expected to specter enormous growth in the forecast period, owing to growing trend for fast food such as pizza, burger, tacos and others, especially in India and China. Moreover, escalating dairy industry in India is anticipated to witness immense growth in the coming years. Latin America is predicted to grow at the lucrative pace due to the rapidly rising dairy industry in Brazil. The Middle East and Africa is projected to have a decent growth in the forecast period due to the instigation of various cheese manufacturers in this region.
Some of the key players in the cheese include Mother Dairy, Almarai, Bega Cheese, Cady Cheese Factory, Amul, Parag Milk Foods, Hook's Cheese Company, Bel Group, Brunkow Cheese Factory, Bletsoe Cheese, Kraft and Burnett Dairy among others. The presence of several manufacturers in cheese market there has been intense competition among the players to sustain in the market. Product innovation is the key strategy practiced by the majority of the players to maintain their sales.
Altering food habits, rise in the fast food chain firms, and rise in the intake of pizzas, pastas along with easy availability of milk will steer the market landscape over the ensuing years. In addition to this, application of cheese in myriad cuisines will proliferate the business scope over the forecast timeline. Apparently, rise in the proportion of eateries as well as quick-service hotels are projected to impel the market demand over the years ahead. Furthermore, cheese comprises large proportion of fats, calcium, and minerals, thereby offering lucrative benefits including strong tooth and bones. This, in turn, will amplify the market size in the coming years.
According to Zion market research report, the global Cheese market, which was estimated at approximately 112 (USD Billion) in 2019 and is predicted to accrue earnings worth nearly 150 (USD Billion) by 2026, is set to record a CAGR of nearly 4.57% over 2020-2026.
Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The regional market growth over 2020-2026 can be credited to easy availability of the processed cheese in the countries like India. In addition to this, easy availability of cheese slices, cheese slabs, and cheese cubes in India is projected to further steer the regional industry expansion. Countries like China and Japan are few of the key regional revenue drivers apart from India.
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