Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cheese market size reached US$ 83.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 120.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.12% during 2023-2028. The rising utilization of cheese in various food products, burgeoning fast food industry, and the wide availability of cheese represent some of the key factors driving the market.

Thriving Fast Food Industry is Augmenting Market Growth

The cheese market has been experiencing continuous growth. The thriving fast food sector represents one of the primary drivers resulting in the increasing sales of cheese. Due to the inflating income level of individuals across the globe, there is a rise in the utilization of cheese in various food products, such as burgers, pizzas, pasta, and sandwiches, which is positively influencing the market. In addition, the growing consumption of cheese as it contains nutrients, such as phosphorous, zinc, vitamin A and vitamin B12, is offering a favorable market outlook.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with the presence of a large number of global and regional players operating in the industry. The growth is attributed to the increasing population, changing consumer taste and preferences, and trend of experimenting cheese in a variety of traditional foods. The volume of new entrants is low due to high capital investment, mergers and acquisitions and stringent government regulations in several countries.

What is Cheese?

Cheese refers to a product derived from milk that is manufactured in a wide range of flavors, textures, and forms by coagulation of the milk protein casein. It comprises zinc, vitamins A and B12, proteins, calcium, phosphorus, and fats and is produced from the milk of cows, buffalo, goats, and sheep. It relies on the origin of the milk, such as pasteurized, the butterfat content, bacteria and mold, processing, and aging, to offer various styles, textures, and flavors. It is widely available as mozzarella, cheddar, feta, parmesan, and Roquefort cheese and in different sizes and shapes. It can be consumed raw or as a basic ingredient to make various food items. It has a longer shelf life as compared to milk and aids in enhancing the taste and appearance of a food product. It assists in building strong bones and muscles among individuals due to the presence of calcium and protein.

COVID-19 Impact:

The COVID-19 pandemic outbreak caused a severe problem for the cheese industry and imposed unprecedented challenges on numerous countries. It also created a serious disturbance in the production of goods and hampered the supply chains. Restrictions on transportation and traveling resulted in shortages of raw materials. The cheese trade across the globe halted due to lockdown in countries, regions, states, and provinces borders. Fresh cheese products are highly perishable products that created an additional logistical challenge. In addition, the production of cheese has slowed down due to labor shortage, transportation restriction, production facility shutdown, and restriction on import and export, which slowed down the growth of the global cheese industry. Moreover, the shutdowns of all restaurants, fast food chains, and food counters created a decline in demand for cheese products. However, the demand for cheese from household consumers has now increased after the pandemic.

Cheese Market Trends:

At present, the rising demand for cheese due to the thriving fast food industry represents one of the key factors supporting the growth of the market. Besides this, the growing demand for cheese due to the changing consumer preferences toward western food worldwide is offering a positive market outlook. Apart from this, the rising utilization of cheese in various food products, such as pasta, burgers, pizzas, sandwiches, hot dogs, and cakes, is offering lucrative growth opportunities to industry investors. Moreover, the increasing demand for cheese among the masses due to inflating income levels of individuals across the globe is positively influencing the market. In addition, the wide availability of cheese through various distribution channels, such as hypermarkets, supermarkets, and convenience and online stores, is contributing to the growth of the market. Furthermore, the rising demand for cheese due to the burgeoning organized retail sector is strengthening the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cheese market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on source, type, product, format and distribution channel.

Source Insights:

Cow Milk

Buffalo Milk

Goat Milk

Others

The report has provided a detailed breakup and analysis of the cheese market based on the source. This includes cow milk, buffalo milk, goat milk, and others.

Type Insights:

Natural

Processed

A detailed breakup and analysis of the cheese market based on the type has also been provided in the report. This includes natural and processed. According to the report, natural accounted for the largest market share.

Product Insights:

Mozzarella

Cheddar

Feta

Parmesan

Roquefort

Others

A detailed breakup and analysis of the cheese market based on the product has also been provided in the report. This includes mozzarella, cheddar, feta, parmesan, Roquefort, and others. According to the report, mozzarella accounted for the largest market share.

Format Insights:

Slices

Diced/Cubes

Shredded

Blocks

Spreads

Liquid

Others

A detailed breakup and analysis of the cheese market based on the format has also been provided in the report. This includes slices, diced/cubes, shredded, blocks, spreads, liquid, and others.

Distribution Channel Insights:

Supermarkets and Hypermarkets

Convenience Stores

Specialty Stores

Online Store

Others

A detailed breakup and analysis of the cheese market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, specialty stores, online store, and others.

Regional Insights:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Argentina

Colombia

Chile

Peru

Others

Middle East and Africa

Turkey

Saudi Arabia

Iran

United Arab Emirates

Others

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and Others); Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and Others). According to the report, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others) was the largest market for tea. Some of the factors driving the Europe cheese market included the flourishing F&B industry, wide availability, easily available product variants, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cheese market. Some of the companies covered in the report include:

Lactalis Group

Fonterra

FrieslandCampina

Dairy Farmers of America

Arla Foods

SAVENCIA SA

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global cheese market in 2022?

2. What is the expected growth rate of the global cheese market during 2023-2028?

3. What are the key factors driving the global cheese market?

4. What has been the impact of COVID-19 on the global cheese market?

5. What is the breakup of the global cheese market based on the source?

6. What is the breakup of the global cheese market based on the type?

7. What is the breakup of the global cheese market based on the product?

8. What is the breakup of the global cheese market based on the format?

9. What is the breakup of the global cheese market based on the distribution channel?

10. What are the key regions in the global cheese market?

11. Who are the key players/companies in the global cheese market?