The global cheese market revenue is projected to grow at a compound annual growth rate (CAGR) of 4.61%, increasing from USD 187.42 billion in 2023 to USD 287.12 billion by 2032, with an interim valuation of USD 191.94 billion in 2024. This data is sourced from Fortune Business Insights™’s report, Cheese Market, 2024-2032.
The demand for cheese is driven by its widespread availability, versatility, and the growing popularity of ethnic cuisines, such as Mexican and Italian, where cheese plays a central role. Mozzarella and cheddar remain the most widely consumed cheese varieties.
Cheese consumption is on the rise due to its versatility and the wide variety of options available. Additionally, the growing popularity of ethnic cuisines, particularly Italian and Mexican, which incorporate significant amounts of cheese, is further driving the growth of the cheese market.
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List of Key Players Mentioned in the Report:
- The Kraft Heinz Company (U.S.)
- Fonterra Co-operative Group Limited (New Zealand)
- Arla Foods amba (Arla Foods Group) (Germany)
- FrieslandCampina (Netherlands)
- Saputo Inc. (Canada)
- Lactalis Ingredients (France)
- Wensleydale Creamery (U.K.)
- Dairy Farmers of America, Inc. (U.S.)
- SAVENCIA SA (France)
- Norseland Ltd (Tine Group) (U.K.)
Segments:
Extended Shelf Life and Increasing Demand for Natural Cheese to Drive Market Growth
Market Segmentation by Type: The cheese market is primarily divided into two segments: processed cheese and natural cheese. Consumer preferences are increasingly shifting toward natural cheese, driven by artisan producers who incorporate herbs, flavors, fruits, spices, and nuts. However, processed cheese continues to enjoy significant popularity, especially in developing regions such as the Middle East and Africa, Asia Pacific, and South America.
Market Segmentation by Source: The cheese market is further segmented by source into plant-based and animal-based categories. Animal-based cheeses are made from the milk of cows, camels, sheep, and goats, while plant-based cheeses feature alternatives like cashew, soy, and almond varieties. Despite the appeal of plant-based options, animal-based cheese is expected to dominate the market due to attractive packaging and extended shelf life. However, the plant-based segment is anticipated to experience significant growth as consumer demand for diverse options continues to rise.
Product Type Insights: Key varieties in the cheese market include mozzarella, parmesan, cheddar, feta, and others. Each cheese type's flavor and texture are influenced by the type of milk used and production methods. Mozzarella is expected to maintain the largest market share, owing to its widespread use in popular dishes such as pizza, pasta, risotto, and enchiladas.
Form-Based Market Trends: Cheese is available in various forms, including block and spreadable types. Block cheese holds a substantial market share due to its high nutritional value and the extended ripening process, available in both soft and firm varieties. Meanwhile, spreadable cheese is gaining popularity for its convenience in sandwiches, pastries, and snacks.
Distribution Channel Analysis: The primary distribution channels for cheese are supermarkets/hypermarkets, convenience stores, specialty shops, and online retail. Supermarkets and hypermarkets dominate the market by offering a wide range of products and frequently providing samples to attract customers.
Regional Analysis: To capture growth opportunities across diverse geographic regions, the global cheese market is analyzed across several regions: Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Information Source: https://www.fortunebusinessinsights.com/cheese-market-104293
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Rising Demand for Plant-Based Cheese to Propel Market Growth
The growing popularity of veganism and the increasing demand for plant-based foods are fueling the rise of plant-based cheese alternatives made from ingredients like cashews, soy, almonds, and other non-dairy sources. This shift is driving the development of a wider variety of plant-based cheese products, which is expected to significantly boost the overall growth of the cheese market during the forecast period.
However, concerns surrounding casein, a protein found in dairy cheese, may pose a challenge to market expansion. Casein allergies can lead to symptoms such as skin rashes, headaches, inflammation, and acne, which could discourage some consumers and hinder market growth.
Regional Insights:
Increasing Investments and Partnerships to Propel Market Growth in Europe
European consumers are increasingly focusing on organic and non-GMO products as part of their transition toward healthier food choices for improved well-being. This heightened health awareness is positively impacting the cheese market in the region, as consumers seek products that align with their health-conscious lifestyles.
In North America, the growing demand for convenient, nutrient-dense food options is driving market growth. The changing snacking and dessert preferences of millennials are contributing to a surge in cheese consumption, making it a staple in their diets. As this demographic seeks quick and satisfying food solutions, it is significantly boosting the cheese industry in the region.
Competitive Landscape:
Launching of New Products by Key Players to Stay Competitive in the Market
Key players in the cheese market are placing significant emphasis on launching new products as part of their competitive strategies to unlock business opportunities. These approaches are designed to expand product reach, enhance distribution networks, and foster overall market growth and diversification. By introducing innovative products that attract new consumers and cater to shifting tastes, companies can solidify their market presence and drive further expansion in the cheese industry.
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Key Industry Development:
- September 2021: Lactalis Canada introduced two direct-to-consumer platforms, DairyMarketCulinary.ca. and Cheeseworld.ca for cheese and dairy.
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