The Global Cheese Market size is estimated to be USD 146.75 billion in 2019 and is predicted to reach USD 192.55 billion by 2030 with a CAGR of 2.5% from 2020-2030. Cheese is milk derived product which is highly nutritive in nature and available in different textures, taste, and different varieties of cheese available on a global scale. Different types of cheese have different manufacturing process and every cheese has its own specific ageing time to get its maximum flavor. Cheese production can be affected by various conditions such as climatic conditions, heat, raw materials, type of milk and others which affect the quality and taste of cheese
Market Dynamics and Trends
The rapid developing food industry with developing food trends and technological advancements coupled with developed infrastructure. Furthermore, high protein, calcium and other mineral contents, offers health benefits if consumed in moderate quantity and others are expected to promote the growth of cheese market.
The other factors include wide variety of cheese available in the market which can be easily consumed by lactose intolerant population, increased shelf life coupled with increase in disposable income are further expected to support the growth of cheese market. However, increase in health concern among people coupled with increased additives in processed cheese is expected to inhibit the growth of cheese market. On the other hand, increasing innovations in cheese industry coupled with increased demand of low fat cheese are further expected to create ample opportunities in the cheese market over the forecast period.
Market Segmentations and Scope of the Study:
The global cheese market share is analyzed on the basis of source, type, product, distribution channel and geography. On the basis of source, the market is segmented into ablation cow milk, sheep milk, goat milk, and buffalo milk. The cow milk is further sub segmented into whole milk and skimmed milk. On the basis of type, the market is divided into Natural Cheese, Hard Cheese, Soft Cheese, Processed Cheese, Spreadable Cheese, and Block Cheese. Based on product type, the market is fragmented into Mozzarella, Cheddar, Feta, Parmesan, Roquefort, and Others. Based on distribution channel, the market is fragmented into Hypermarkets, Supermarkets, Food Specialty Stores, Convenience Stores, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to hold the major market share over the forecast period owing to the rapid developing food industry coupled with technological advancements. Furthermore, various health benefits if consumed moderately with wide variety are further expected to fuel the growth of cheese market.
Asia Pacific is expected to dominate the cheese market in terms of growth rate owing to the increase in quick service restraunts, long shelf life, coupled with increase in disposable income are further expected to augment the growth of cheese market in the near future.
The cheese market, which is highly competitive, consists of a few major players. Some of the major market players include Bel Group, Arla Foods, Kraft Heinz, Fonterra Food, SAVENCIA SA, Lactalis Group, Associated Milk Producers Inc., Britannia Industries Limited, Gujarat Cooperative Milk Marketing Federation Ltd. and Saputo Inc. among others.
In the recent past there have been numerous developments taken place in the cheese market and also expected to further takes place which enhance the overall market growth. For instance, in October 2019, Saputo Inc. has completed the acquisition of the specialty cheese business of Lion Dairy & Drinks Pty Ltd for a purchase price of A$280 million on a cash-free and debt-free basis. The Specialty Cheese Business is conducted at two manufacturing facilities located in Burnie and King Island, Tasmania (Australia) and employs approximately 400 people. This acquisition enables Saputo’s Dairy Division (Australia) to further diversify its product offering, adding to and complementing its current activities.
- The cheese market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the cheese market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the cheese market is provided in the report.
- The competitive analysis of the market players along with their market share in the global cheese market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Cheese market – By Source
- Cow Milk
- Whole Milk
- Skimmed Milk
- Sheep Milk
- Goat Milk
- Buffalo Milk
- Cow Milk
- Global Cheese market – By Product
- Global Cheese market –By Type
- Natural Cheese
- Hard Cheese
- Soft Cheese
- Processed Cheese
- Spreadable Cheese
- Block Cheese
- Global Cheese market –By Distribution Channel
- Food Specialty Stores
- Convenience Stores
- Global Cheese market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America