Cheese Market has Witnessed a Continued demand & is Projected to Touch 29,398.75 kilo-tons and Register a Healthy CAGR 3.90% by 2023
— Market Insights
Cheese is referred to as a dairy product which is rich in several milk fats, vitamins, and minerals and is prepared by coagulation of milk proteins, separation of whey, and subsequent ripening. It is, therefore, manufactured in a variety of shapes, textures, and flavors. Moreover, cheese comes in various forms, hard, semi-hard, soft, and fresh. Also, cheese also offers several health benefits such as stronger bone & teeth, prevention of heart disease & osteoporosis, and others.
With changing food habits, increasing fast food chains and increased consumption of pasta, pizzas are the crucial dotting driving factors for the global cheese market growth. According to Market Research Future Reports, the global cheese market is set to proliferate at a CAGR of 3.90% and is expected to reach 29,398.75 kilo tons by the year 2023. Cheese is being used in diverse applications across the food industries especially in bakery and fast food manufacturing industries. This is one of the most triggering factors to drive the global cheese market.
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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.)
Global Cheese Market: Drivers & Trends
The global cheese market is rapidly proliferating at a higher CAGR owing to the increasing popularity of cheese among the consumers, which is extensively being used in several fast-food joints, restaurants, and households. This is projected to drive the growth of the global cheese market at a steady pace. With that, the demand for cheese is also expanding across the globe due to its smacking taste.
Consumers are also on the verge of changing tastes and preferences, particularly in the developing regions coupled with the surging demand for protein-rich foods are some of the other crucial factors stimulating the consumption of cheese worldwide. Also, having an extended shelf life, rise in disposable income, and a surge in demand for protein-rich food have also claimed the global cheese market to rise at a higher CAGR. Moreover, developing a market for low-fat cheese and various innovations to improve cheese taste & quality are presenting new opportunities for the market to come forward within the years to come.
On the other hand, the growing preference of consumers even for fresh cheese is also influencing the market to cultivate amongst the other available type of cheese. Fresh cheese meets consumer’s satisfaction due to optimum presence level of nutritional value, which in turn, is driving it’s the cheese market. Also, wide application and consumption of cheddar cheese are predicted to have a positive impact on cheese market growth during the given forecast period.
The whole cow milk is set to witness a growth rate of 4.37% CAGR, whereby 2023, the entire cow milk sourced cheese will grasp a market volume of more than 19,000-kilo tons globally. This is due to the high inclination of consumers towards cow milk sourced cheese, which eventually was found to be having a positive impact on the global cheese market growth. Also, the rich taste of cheese made from cow milk is also influencing its positive growth rate in the global cheese market.
Whereas, fresh cheese will also reach more than 7,000-kilotons market volume with CAGR of 5.01% owing to the rising preferences for consumers for fresh cheese is, therefore, is influencing its growing market share amongst the other types of cheese. The use of cheese in fast food snacks will continue to lead the cheese market application segment with 25.72% market share. Application in cheese processing will witness a high growth rate of 4.40% from 2017 to 2023. Hence, by 2023, fast food snacks-based application of Cheese is probably to raise at a CAGR of 4.73%. Whereas, the application of cheese as bakery foods will witness significant growth in the years to come owing to changing food consumption and preferences in regions of the world.
On a geographic note, the Global Cheese Market has covered significant market share in North America, Europe, Asia – Pacific, and RoW—Rest of the World.
The European region represents itself as the leading producer of cheese, accounting for approximately half of the total global cheese production. The expiry of the EU milk quotas and stimulating dairy industry are driving the production of cheese in the region.
The Asia Pacific is also expected to lead the global cheese market by showing double-digit growth. In this region, India is one of the largest markets for pizzas that sources mozzarella cheese locally. Thus, owing to the swelling cheese consumption in India, several global firms such as Kraft Cheese and Fromageries Bel and Arla Cheese have started capturing the Indian market, thus making the market to expand rapidly in the future timeline.
May 9, 2019: San Diego is known for its mouthwatering array of liquid offerings, including craft beer and spirits, cocktails and artisan wines. In acknowledgment of San Diego’s liquid riches is the recently formed Liquid City. In its inaugural event, Cheese Expo 2019, the group will, therefore, celebrate the cornucopia of delights a natural pair: cheese. The Sunday, May 19 event will host to an array of gastronomic selections for hungry and thirsty San Diegans, plus liquid creators, which include breweries, distillers, kombucha and cider producers, and coffee roasters, along with cheesemakers from around the country.
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