The global market for cheese has witnessed continued demand during the last few years and is projected to reach 29,398.75 kilo tons by 2023, at a CAGR of 3.90% by 2023. Diverse application of Cheese across the food industries particularly in bakery and fast food manufacturing industries is likely to drive the global cheese market.
Europe will continue to dominate the cheese market with more than 55% market share and it is projected to reach more than 15,000 kilo tons with CAGR of 4.63% by 2023. North America will witness a high growth rate (~3.27%) during forecast period 2017 to 2023. Availability of various cheese varieties across the regions has increased the popularity and consumption of cheese among the consumers. Developing economy and increased disposable income is playing a key role in the market growth of cheese in Europe from last few years.
Whole cow milk will witness a growth rate (~4.37%). By 2023, whole cow milk sourced cheese will reach a market volume of more than 19,000 kilo tons on a global level. High inclination of consumer’s towards cow milk sourced cheese is found to be having a positive impact in its market share growth. The rich taste of cheese sourced form cow milk is also influencing its positive growth rate in global cheese market.
By 2023, Fresh cheese will reach more than 7,000 kilo tons market volume with CAGR of 5.01%. Rising consumer’s preference for fresh cheese due to low contamination issues is influencing its growing market share amongst the other available type of cheese. Fresh cheese meets consumer’s satisfaction of retained nutritional value is driving its market. In addition, wide application and consumption of cheddar cheese will have a positive impact on its market share growth and is evaluated to grow at a CAGR of 5.40% during the given forecast period.
Application of Cheese in fast food snacks will continue to dominate the cheese market application segment with 25.72% market share. Application in cheese processing will witness a high growth rate (~4.40%) during forecast period 2017 to 2023. By 2023, fast food snacks based application of Cheese is projected to grow at a CAGR of 4.73%. Application of cheese as bakery foods will witness significant growth in upcoming years due shifting consumption pattern in various developed countries of the regions.
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The leading market players in the global Cheese market primarily are Land O’Lakes, Inc. (U.S.), Kerry Group Plc (Ireland), Lactosan A/S (Denmark), Arla Foods (Denmark), Aarkay Food Products Ltd (India), Dairiconcepts, L.P. (U.S.), Kanegrade Limited (U.K.), The Kraft Heinz Co. (U.S.), FrieslandCampina (Netherlands), Dairy Farmers of America Inc. (U.S.)
Study Objectives of Cheese Market Forecast to 2023:
- Company profiling of major players & competitive positioning for the Cheese market
- Value chain analysis and supply chain analysis of Cheese
- Analysis of historical market trends, and technologies, and current government regulatory requirements related to Cheese market
- Detailed analysis for individual micro and macro markets for Cheese
- To estimate market size by Source, Type, Product-Type, Application and Region
- To understand the supply and demand dynamics of Cheese
- To provide region level market analysis and future outlook for U.S., Germany, New Zealand, France, and South-East Asia
- Fast Foods manufacturing industry
- Cheese processing industries
- Retailers and wholesalers
- Traders, importers and exporters
- Cheese manufacturers
- Bakery Industry
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- Fresh cheese will continue to dominate the cheese market with more than 20% market share and it is projected to grow at a CAGR of 5.01% by 2023
- Cheddar cheese will dominate the cheese product-types holding a lion’s share in the cheese market and growing at a rate of 5.40%
- Application of cheese in fast food snacks will hold a major share and will witness a growth rate of 4.73%
- The Global Cheese Market is projected to reach 29,398.75 kilo tons by 2023 of 3.90%
- Whole cow milk will continue to dominate the cheese source segment with more than 65% market share