Global Cheese Market Overview, 2022-27

Global Cheese Market Overview, 2022-27

One of the most popular dairy products is cheese, across the globe. There are many various types of cheese that are manufactured all around the world, including cheddar, feta, gouda, parmesan, and camembert. Cheese has long been valued for its versatility and long shelf life. In addition, it contains a lot of calcium, which is crucial for developing strong bones, and particular high-quality proteins, which are responsible for the structural squares at the centre of firm muscles. Because it contains a lot of protein, fat, and calcium, cheese is becoming more and more popular. One of the elements influencing market expansion is the accessibility of cheese, which comes in a variety of flavours and has advantages over milk. Growing consumer health consciousness is also anticipated to increase demand for cheese. Market expansion is being driven by the expanding food and beverage sector, which is being followed by the expanding demand for processed foods.

According to the report titled Global Cheese Market Overview, 2022–2027,” published by Bonafide Research, the market was valued at more than USD 130 billion in 2021, and it is anticipated to grow at a CAGR of more than 4.5% from 2022–2027. In the upcoming years, cheese manufacturers should see increased growth potential due to the expanding impact of Western cuisines, the addition of numerous flavourings to cheese products, such as oregano, red chilli flakes, garlic, and pepper, and rising disposable incomes. Due to global urbanisation and increased disposable incomes, fast food chains are one of the largest consumers of cheese. The fast food business is expanding at a healthy rate. In the upcoming years, emerging economies are predicted to dominate the global cheese market. Previously, the majority of cheese consumption was confined to western nations, but this is predicted to change as westernisation of food consumption patterns, a developing economy, an increase in the middle class population, and more urbanisation take hold.

According to the report, demand for using processed cheese, such as Cheddar, Parmesan, and Romano, has increased in recent years due to factors such as the enhanced shelf-life of the product, the attractive flavour profile of processed cheese, and the versatility it offers at a much more economical price point than other types of cheese present in the market. Processed cheese is used in local cuisines in addition to its frequent use in fast food items because of its distinctive flavour profile. Additionally, the market demand for processed cheese has increased due to the growth of private labels in developing nations and the popularity of western cuisine. The online market for the purchasing of food products, including cheese, has also seen tremendous expansion globally in the previous three to four years due to rising internet penetration. Several vertical specialists, like Amazon, Walmart, Carrefour, etc., have shown interest in this field. They are competing for a big portion of the online cheese industry while riding the wave of rising e-retail growth.

Most driving cheese market players are zeroing in on the extension of their presence overall by taking on key techniques. The presentation of creative items, appealing bundling techniques, and fascinating advertising efforts are some key extension methodologies of the main cheese market players. The cheese market is driven by the expanded consciousness of good wellsprings of supplements.

Key Market Developments
• In March 2021, Dalter Alimentari Spa presented another item as far as cheese cuts: new cheese matchsticks, an extraordinary slice available intended to ensure the best outcomes. This item takes care of the necessities of food assembling and foodservice enterprises. It is especially utilized as a fixing in prepared suppers, instant servings of mixed greens, soups, sauces, as well concerning fillings and stuffing.
• In August 2020, Glanbia finished the obtaining of Foodarom (Germany). The obtaining reinforced Glanbia's capacity in the space of flavors and nourishing arrangements.
• In 2020, Land O'Lakes fostered a natural cheese powder formed utilizing various sorts of cheeses like American, Parmesan, Blue, and Swiss cheese.

Covid-19 Impacts:
Due to fluctuating demand, the industry experienced severe disruptions during the COVID-19 pandemic outbreak. The worldwide lockdowns caused the foodservice industry to close, significantly reducing demand for all processed food products. Furthermore, as high-quality products become less popular, prices are expected to fall. Increased adoption of low-cost varieties at wholesale prices from retail outlets for home cooking, on the other hand, is expected to balance the supply chain. Following the pandemic, the re-establishment of the foodservice sector and renewed cheese processing capabilities are expected to flourish in the global market in the coming period.

Major Companies present in the market
Mondelez International Group, The Kraft Heinz Company, Fonterra Co-operative Group Limited, Dairy Farmers of America, FrieslandCampina Professional, Arla Food Amba, Saputo Inc., Dean Foods Co., Meiji Holdings, Gujarat Co-operative Milk Marketing Federation, Savencia Fromage & Dairy

Considered in this report
• Geography: Global
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global Cheese market with its value and forecast along with its segments
• Region-wise cheese market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa
By Product
• Mozzarella
• Cheddar
• Feta
• Parmesan
• Roquefort
• Others

By Source
• Animals
• Plants

By Type
• Natural
• Processed

By Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online retail
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Cheese industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.