Cheese Market Overview:
Global Cheese Market is expected to reach $164,338 million by 2023, from $136,283 million in 2016, growing at a CAGR of 2.7% from 2017 to 2023. Cheese is a highly nutritious and palatable milk-derived food product found in wide range of textures, tastes, and aromas globally with around 2000 varieties at present. The distinction between texture and taste is determined by raw material used during preparation of cheese, such as type & breed of milk producing animal, grazing and climatic factors, and others. Cheese consumes about one-tenth volume of the milk, making it portable with longer shelf life compared to milk. In addition, it is rich in nutrients such as protein, essential minerals, fat, calcium, and others. Moreover, it offers certain health benefits such as stronger teeth & bones, healthy heart (if consumed in moderate quantity), prevention of osteoporosis, and others. Furthermore, certain types of cheese such as cheddar, parmesan, Roquefort, and others can be easily consumed by lactose intolerant and milk allergic people.
Annual Per Capita Cheese Consumption, by Country, 2015 (Kg per Capita)
The above figure shows that France, Finland, Denmark, Germany, Italy, and Switzerland are some of the top countries with largest per capita cheese consumption globally. Thus, European region showcases as the mature market compared to other regions.
In 2016, the major cheese market was occupied by North America and Europe with nearly 80% share. At present, the global cheese market is driven by growth in number of quick service restaurants (QSRs) in the developing regions and already established QSR outlets in the developed regions. In addition, longer shelf life of cheese products, rise in disposable income, and increase in demand for protein-rich food propel the market growth. However, alarming obesity rates & rise in health consciousness among adults, unhealthy additives & ingredients in processed cheese, and perishable nature of the products are expected to hamper the market growth during the forecast period. Moreover, developing market for low-fat cheese and various innovations to improve the taste & quality of the products provide new opportunities in the market.
The global cheese market is segmented based on source, type, product, distribution channel, and geography. Based on source, it is divided into cheese obtained from cow milk (whole milk and skimmed milk), sheep milk, goat milk, and buffalo milk. The type segment is bifurcated into natural cheese (hard cheese and soft cheese) and processed cheese (spreadable cheese and block cheese). By product, it is classified into mozzarella, cheddar, feta, parmesan, Roquefort, and others. Based on distribution channel, it is divided into hypermarkets, supermarkets, food specialty stores, convenience stores, and others. Geographically, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
Top Investment Pocket
Cheddar is the most attractive cheese product for investment, owing to its large-scale popularity and wide range of use in several cuisines across different regions. The global cheddar cheese market was valued at $6,101 million in 2016 to reach at $7,319 million by 2023, and is expected to grow at a CAGR of 2.6% from 2017 to 2023.
Global cheese market, by geography
Europe dominated the market with highest share, registering a CAGR of around 2.0%, attributable to high demand in France, Finland, Denmark, Germany, and other countries. Asia-Pacific is the fastest growing region followed by LAMEA, owing to increase in cheese consumption in various emerging economies. The Mexico cheese market was valued at $1,857 million in 2016, and is expected to reach at $2,215 million by 2023, registering a CAGR of 2.5% during the forecast period.
Mexico Cheese Market, 2016-2023 ($Million)
The key players operating in the cheese industry are Arla Foods, Bel Group, Fonterra Food, Kraft Heinz, Lactalis Group, SAVENCIA SA, Britannia Industries Limited, Associated Milk Producers Inc., Saputo Inc., and Gujarat Cooperative Milk Marketing Federation Ltd.
The other players in the value chain include Almarai Co. Ltd., SARGENTO FOODS INCORPORATED, FrieslandCampina, Dzintars, Go Cheese, Parag Milk Foods, Gebrder Woerle Ges.m.b., Mother Dairy, Old Fashioned Cheese, Vindija dd, and Bletsoe Cheese, Inc.
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global cheese market from 2017 to 2023 to identify the prevailing opportunities.
- Major countries in each region are mapped according to the individual market revenue and list of key players.
- Region-wise and country-wise cheese market conditions are comprehensively analyzed.
- Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top players within the cheese industry.
Cheese Market Key Segments:
- Cow Milk
- Whole Milk
- Skimmed Milk
- Sheep Milk
- Goat Milk
- Buffalo Milk
- Natural Cheese
- Hard Cheese
- Soft Cheese
- Processed Cheese
- Spreadable Cheese
- Block Cheese
By Distribution Channel
- Food Specialty Stores
- Convenience Stores
- North America
- Rest of the Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA