September 20th, 2022
The Cheese Market is valued at USD 119 billion in 2020, projected top grow at a CAGR of 2.5% over the forecast period (2021-2028).
The factors driving the growth of Cheese Market includes expansion of the fast-food industry, growing popularity of Italian cuisine worldwide, rise in demand for dairy food products and increasing use of cheese in packaged food and ready-to-eat meals. According to the report published by Bloomberg, the Global Fast-Food Market is predicted to reach USD $998 billion by the end of 2028, exhibiting a CAGR of 4.6% during the forecast, which is expected to boost the market growth in the approaching years. Moreover, the rising awareness about the nutritional values of cheese, easy availability of wide variety of cheese at the online platforms, increasing number of quick service restaurants and cafes and growing popularity of organic cheese products, are some of the additional factors supplementing the market growth. In addition, increasing focus on improving the cheese quality, rising preference for vegan cheese products by the lactose intolerant population, rapid urbanization, improvements in the living standards and growing investments by the leading players on research and development, are further contributing to the market growth.
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However, the growth of Cheese Market is hindered due to growing incidences of obesity due to the consumption of cheese.
The leading players operating in the market are Britannia Industries, The Kraft Heinz Company, Groupe Lactalis, Savencia Sa, Arla Foods amba, Bel Group, Fonterra Co-operative Group, Associated Milk Producers inc, Saputo Inc., and Gcmmf, among others.
Product Type – Segment Analysis
Based on Product Type, the Cheddar segment is estimated to expand at a robust CAGR during the forecast period attributed to growing use of cheddar cheese in the fast-food products, as per The Cold Wire, McDonald’s uses around 60% cheddar cheese and 40% of other ingredients such as powder, butter and milk proteins.
Cheese Type – Segment Analysis
Based on Cheese Type, the Processed segment is predicted to expand at a remarkable CAGR over the forecast period. The rising consumption of processed cheese by children, growing awareness about the health benefits of cheese and easy availability of processed cheese products at supermarkets, are some of the factors responsible for the segment’s growth.
Regional – Segment Analysis
As per the Cheese Market Forecast, the North American region is anticipated to capture a sizable market share during the forecast period. The growing popularity of organic cheese, increasing demand for fast food items such as pizza, pasta and burger, rising influence of Italian cuisine in the United States and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Global Cheese Market by Product Type
Global Cheese Market by Cheese Type
Global Cheese Market by Distribution Channel
Food Specialty Stores
Global Cheese Market by Source
Global Cheese Market by Region
Rest of APAC
North AmericaUnited States of America
Rest of Europe
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