Cheese Market - Trends Forecast Till 2028

Market Overview

The global Cheese Market size is valued at USD 88.7 billion in 2021 and is projected to reach a CAGR of 4.9% during the forecast period.

Cheese is a highly nutritious and palatable milk-derived food product found in wide range of textures, tastes, and aromas globally available in around 2000 varieties at present. The distinction between texture and taste is determined by the raw material such as type & breed of milk producing animal, grazing and climatic factors taken into consideration during the preparation of cheese.

The effects of rapid westernization have led to the rising demand for cheese in countries other than Europe and the US, a sharp increase in consumer demand for packaged meals containing cheese and rising demand from the food processing industry are some of the factors that have supported long-term expansion for Cheese Market.

The outbreak of COVID-19 has brought serious medical, social, and economic challenges. Global cheese markets are likely to be heavily impacted by the sudden loss of sales into food service. The US industry is most exposed, with almost 50% of cheese sales reliant on foodservice outlets. A rapid and unexpected disruption in supply chains during the pandemic resulted in manufacturers, suppliers, and retailers struggling to ensure a continued supply of cheese in the market.

Regional Analysis

Europe is projected to account for the largest market during the forecast period. The European cheese market is the largest in the world, and despite very high per capita consumption levels, market growth has remained attractive and stable. Cheese has provided better export opportunities than any other dairy product, as the willingness to pay for quality European cheese has always been high, and the impact of higher raw-material costs is less problematic.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Arla Foods
• Bel Group
• Fonterra Food
• Kraft Heinz
• Lactalis Group
• SAVENCIA SA
• Britannia Industries Limited
• Associated Milk Producers Inc.
• Saputo Inc.
• Gujarat Cooperative Milk Marketing Federation Ltd.

Recent Developments

• In March 2021, Dalter Alimentari Spa introduced a new product in terms of cheese cuts: cheese matchsticks. This product caters to the needs of food manufacturing and foodservice industries. It is particularly used as an ingredient in ready meals, ready-made salads, soups, sauces, as well as for fillings and stuffings.
• In August 2020, Glanbia completed the acquisition of Foodarom (Germany). The acquisition strengthened Glanbia’s capability in the area of flavors and nutritional solutions.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Cheese Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope