The global cheese market was valued at USD 187.42 billion in 2023 and is projected to grow from USD 191.94 billion in 2024 to USD 287.12 billion by 2032, reflecting a CAGR of 4.61% during the forecast period.
In 2023, Europe dominated the cheese market with a commanding 49.13% share. The U.S. cheese market is also poised for significant growth, projected to reach a valuation of USD 62.66 billion by 2032, fueled by its extensive use in fast food staples like pizza, sandwiches, and other popular dishes.
The growth in global cheese consumption is driven by its versatility and the broad range of cheese varieties available. Moreover, the rising popularity of ethnic cuisines such as Italian and Mexican, where cheese is a central ingredient, further bolsters market expansion.
Information Source: https://www.fortunebusinessinsights.com/cheese-market-104293
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.)
Market Segmentation:
Longer Shelf Life and Rising Demand for Natural Cheese Propel Market Growth
The cheese market is segmented into processed and natural cheese types. Artisan producers emphasize the use of natural flavorings like herbs, fruits, spices, and nuts, fueling the demand for natural cheese. Conversely, processed cheese remains highly popular in developing regions, including South America, Asia Pacific, and the Middle East & Africa.
Dominance of Animal-Based Cheese in Market Share
The market is divided into plant-based and animal-based sources. The animal-based segment, including cheese from cattle, camel, sheep, and goat milk, is anticipated to drive growth due to its longer shelf life and attractive packaging. However, the plant-based segment, featuring options like cashew, soy, and almond cheese, is also gaining momentum due to increasing consumer interest in plant-based diets.
Mozzarella's Popularity to Drive Market Sales
By product type, the market includes feta, cheddar, parmesan, mozzarella, and others. Mozzarella is projected to lead the market owing to its widespread use in pizza, pasta, risotto, and enchiladas.
Block Cheese’s Versatility Spurs Growth
The market is segmented by form into spreadable, block, and others. Block cheese, available in hard and soft varieties, is expected to capture a substantial market share due to its versatility and high nutritional value. Spreadable cheese is also gaining traction for its convenience in applications like sandwiches and snacks.
Distribution Channels Supporting Market Expansion
Cheese is distributed through specialty stores, online retail, supermarkets/hypermarkets, and convenience stores. Supermarkets/hypermarkets dominate the distribution landscape, offering a wide range of products and frequently attracting customers with free samples.
Regional Analysis:
The market spans Europe, North America, Asia Pacific, South America, and the Middle East & Africa, each showing distinct growth patterns and consumer trends.
Report Coverage:
The report includes:
Key growth drivers, restraints, opportunities, and challenges.
Regional insights into market developments.
Profiles of major industry players.
Strategic approaches employed by market leaders.
Recent developments such as product launches, partnerships, and mergers.
Drivers and Restraints:
Rising Demand for Plant-Based Cheese
The growing popularity of vegan and plant-based diets is boosting the demand for plant-based cheese made from cashews, soy, and almonds, contributing to overall market growth.
Health Risks from Casein May Restrain Growth
Health concerns linked to casein, such as acne, inflammation, and allergies, could pose challenges for the market, as some consumers shift to plant-based alternatives.
Regional Insights:
Europe: The region's market growth is fueled by consumer demand for organic, non-GMO, and healthy cheese products, supported by increased investments and partnerships.
North America: Rising consumer preference for convenient and nutritious foods, especially among millennials, is a key driver of market expansion in the region.
Competitive Landscape:
Product Innovation Drives Competitiveness
Key players focus on launching innovative cheese products to meet evolving consumer demands, ensuring market competitiveness and expanding their reach.
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Key Industry Development:
September 2021: Lactalis Canada introduced two direct-to-consumer platforms, DairyMarketCulinary.ca and Cheeseworld.ca, to expand its footprint in the cheese and dairy markets.