Global Cheese Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Cheese Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global cheese market is growing at a CAGR of 6.8% during the forecast period (2020-2025).

Key Highlights

• The market for cheese is driven by the increased awareness of good sources of nutrients, such as calcium, phosphorous, zinc, vitamin A and vitamin B12, which is vital for building strong bones and certain high-quality proteins that provide essential building blocks for strong muscles. In addition, the rising influence of western cuisines and inflating disposable incomes and introducing a number of flavored cheese products including pepper, garlic, red chili flakes, and oregano pickle, which cater to the different tastes and preferences of consumers globally. In the segmentation font by category, animal sources cheese accounts for the largest share.
• However, certain factors affecting the market growth are the presence of government regulations in different countries for lowering the sodium content of food products.

Key Market TrendsRising Demand For Processed Cheese

Demand for the use of processed cheese such as Cheddar, Parmesan and Romano has increased in the recent years owing to the factors such as enhanced shelf-life of the product, attractive flavor profile of processed cheese and versatility it offers at a much economical price point than other types of cheese present in the market. Due to the unique flavor profile of processed cheese, it is also utilized in local cuisines apart from its regular application in fast food products. Also, the rise in private labels in developing countries, along with demand for western cuisine has boosted the processed cheese demand in the market. In addition, with the increasing internet penetration, the online market for the purchase of food items including cheese has seen rapid growth globally in the last 3-4 years.This category has attracted a few vertical specialists like Amazon, Walmart, Carrefour, etc. who are riding on increasing e-retailing growth and vying for a significant pie in online cheese space.

North America Is The Fastest Growing Region

The North America region is the fastest-growing region in the market owing to the increasing disposable income and expansions of domestic companies. For instance, Canada’s one largest hamburgers chain, A&W recently announced its decision to cut processed cheese from all its restaurant menus and replace it with real, high-quality Cheddar cheese made from 100 percent Canadian milk, due to the increasing demand to cut away from artificial colors, flavors, and preservatives and shifting preference for organically produced cheese.

Competitive Landscape

The global cheese market is highly competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the market include The Kraft Heinz Company, Almarai, Associated Milk Producers Inc., Britannia Industries, Arla Foods, and GCMMF (Amul) among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

The Kraft Heinz Company
Almarai
Associated Milk Producers Inc.
Britannia Industries
Arla Foods
GCMMF (Amul)
The Bel Group
Bletsoe Cheese
Savencia SA

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