Cheese Market, Covid-19 Outbreak, Availability, Variety, Development, Demand, Se

Posted by Pallavi Agrawal on February 5th, 2021

The global market for cheese has witnessed continued demand during the last few years and is projected to reach 29,398.75 kilotons by 2023, at a CAGR of 3.90% by 2023. Diverse application of Cheese across the food industries particularly in bakery and fast food manufacturing industries is likely to drive the global Cheese Market.

Europe will continue to dominate the cheese market with more than 55% market share and it is projected to reach more than 15,000 kilo tons with CAGR of 4.63% by 2023. North America will witness a high growth rate (~3.27%) during forecast period 2017 to 2023. Availability of various cheese varieties across the regions has increased the popularity and consumption of cheese among the consumers. Developing economy and increased disposable income is playing a key role in the market growth of cheese in Europe from last few years.

Whole cow milk will witness a growth rate (~4.37%). By 2023, whole cow milk sourced cheese will reach a market volume of more than 19,000 kilo tons on a global level. High inclination of consumer’s towards cow milk sourced cheese is found to be having a positive impact in its market share growth. The rich taste of cheese sourced form cow milk is also influencing its positive growth rate in global market.

By 2023, Fresh cheese will reach more than 7,000 kilo tons market volume with CAGR of 5.01%. Rising consumer’s preference for fresh cheese due to low contamination issues is influencing its growing market share amongst the other available type of cheese. Fresh cheese meets consumer’s satisfaction of retained nutritional value is driving its market. In addition, wide application and consumption of cheddar cheese will have a positive impact on its market share growth and is evaluated to grow at a CAGR of 5.40% during the given forecast period.

Segmentation:

Global Cheese Market is segmented on the basis of source, type, product type, application, and region.

By source, the global cheese market is segmented into whole cow milk, skimmed cow milk, goat milk, sheep milk, buffalo milk, and others. Whole cow milk is likely to remain the major revenue generator over the forecast period, holding a market share of more than 65%, due to the wide range of cheeses that can be prepared with whole cow milk and the popularity of whole cow milk cheeses such as mozzarella.

By type, the global cheese market is segmented into fresh, aged fresh, soft white, semi-soft, hard, flavored, and others. Fresh cheese is the leading revenue generator for the global cheese market and is expected to grow at a CAGR of more than 5% by 2023. The fresh cheese segment accounted for around 20% of the global cheese market in 2017.

By product type, the global cheese market is segmented into Cheddar, mozzarella, Parmesan, American, blue, and others. Cheddar cheese is likely to hold the lion’s share in the global cheese market, growing at a CAGR of 5.40% over the forecast period.

By application, the global cheese market is segmented into cheese processing, cheese spreads, cheese dips, fast food snacks, alcohol accompaniments, bakery foods, processed foods, savory snacks, and others. The fast food snacks segment is likely to hold the major share in the global cheese market due to the growing popularity of fast foods such as burgers.

Regional Analysis:

Europe is likely to dominate the global cheese market over the forecast period due to the strong presence of the cheesemaking industry in Western European nations such as Italy, France, Spain, and the UK. The Europe market accounted for a share of more than 55% in the global cheese market in 2017 and is likely to retain a similar level of dominance over the forecast period and beyond on the back of the global reputation of European cheeses and the strong presence of cheese manufacturers in Western Europe. Cheese production is a traditional hit in France, Italy, Spain, Portugal, and the UK, with many traditional cheeses from these regions still holding a strong share in the global market. The Europe cheese market is expected to exhibit a strong CAGR of 4.63% over the forecast period, rising to a volume of more than 15,000 kilotons by 2023.

North America is the second largest regional market for cheese and is likely to retain its position over the forecast period due to the increasing demand for cheese in fast food preparations in the region. The U.S. has emerged as a major market for cheese in recent years, with American manufacturers of cheese claiming an important position in the global market and U.S. consumers emerging as one of the most promising consumer demographics for the global cheese market. American processed cheese has become a widespread hit in the U.S. as well as around the world, while mozzarella cheese has found widespread demand due to its growing use in pizzas, burgers, and other fast food items in North America. This is likely to remain a key driver for the North America market over the forecast period.

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Key Players

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.)

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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Pallavi Agrawal

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Pallavi Agrawal
Joined: July 3rd, 2020
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