Cheese Market Size, Share & Trends Analysis Report By Product (Cheddar, Mozzarella, Parmesan), By Source (Animal, Plant), By Type (Natural, Processed), By Distribution Channel (B2C, B2B), By Region, And Segment Forecasts, 2024 - 2030

Cheese Market Size, Share & Trends Analysis Report By Product (Cheddar, Mozzarella, Parmesan), By Source (Animal, Plant), By Type (Natural, Processed), By Distribution Channel (B2C, B2B), By Region, And Segment Forecasts, 2024 - 2030

Cheese Market Growth & Trends

The global cheese market size is anticipated to reach USD 283.4 billion by 2030 and is anticipated to grow at a CAGR of 5.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The projected growth is driven by the dynamic shifts in consumer preferences, rising demand for plant-based cheese alternatives, the introduction of innovative & distinctive product varieties, and motivation among individuals to experiment with cooking & preparing various dishes inspired by global food trends. Consumers are increasingly drifting towards diverse & exotic flavors, driving the demand for healthier, artisanal, and plant-based cheese options. Sustainability is becoming a key focus, with innovations addressing environmental concerns related to traditional cheese-making processes, such as utilizing specialized protein blends like micellar casein to reduce waste during whey separation.

This sustainable evolution in food technology promises delicious and responsibly made cheeses, with micellar casein contributing to higher protein content, water retention, heat stability, and nutritional benefits. Collaborations and partnerships are among the key strategies undertaken by companies to strengthen their industry presence and diversify product offerings. For instance, in December 2022, Britannia Industries projected a substantial fivefold growth in its cheese business through a joint venture with Bel, a France-based manufacturer. This collaboration involves Bel acquiring a 49% stake in Britannia’s subsidiary, Britannia Dairy, aiming to capitalize on the growing cheese market in India.

The joint venture focuses on manufacturing and selling co-branded products under the "Britannia" and "The Laughing Cow" trademarks, contributing to the expansion of the cheese portfolio. Retailers globally are renewing specialty cheese programs by broadening their selections of cheese. Stability in domestic cheese pricing, in contrast to volatile import prices, has prompted a focus on domestic varieties. In the U.S., the retail landscape is expanding with American adaptations of popular European cheeses, mitigating shipping costs. To elevate specialty & artisanal cheese sales, retailers are optimizing display areas, implementing in-store promotions, and hosting themed events.

Cheese Market Report Highlights

• In 2023, the cheddar cheese segment accounted for a revenue share of 36.50% due to high product demand and its versatile applications. It is extensively utilized in diverse culinary creations, such as sandwiches and burgers, making it a preferred choice among consumers
• The plant-based cheese segment is set to grow at a CAGR of 12.5% from 2024 to 2030 driven by a shift in consumer preferences towards plant-based diets due to health and environmental concerns
• The rising awareness of lactose intolerance, along with a growing vegan and flexitarian population, is driving the demand for plant-based cheese alternatives
• The processed cheese segment is anticipated to witness a CAGR of 4.0% from 2024 to 2030. The growing demand for processed cheese, particularly processed cheese slices, is driven by the preference for convenience, offering pre-portioned, easy-to-use options suitable for quick snacks, sandwiches, and cooking
• The B2C distribution channel segment accounted for a share of 50% in 2023, mainly due to the preference for convenient, diverse, and high-quality cheese options. Increased at-home cooking and culinary trends contributed to the high share, with hypermarkets/supermarkets as key distribution channels
• In 2023, Europe accounted for a substantial share of 35.16% of the global revenue attributed to the high demand for plant-based cheese alternatives, driven by health-conscious consumers’ preferences the and region's increasing focus on sustainability
• In August 2023, Agrocorp International introduced HerbY-Cheese, a plant-based and nut-free cheese line marketed under the HerbYvore brand in Singapore. Agrocorp partnered with the Singapore Institute of Technology (SIT) to devise eco-friendly plant protein extraction techniques, leading to the successful creation and launch of HerbY-Cheese
• The product encompasses dairy-free options for cheddar, mozzarella, and parmesan, appealing to consumers seeking sustainable and nutritious alternatives. HerbY-Cheese is accessible online and in specific local outlets

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