U.S. Cheese Market Demand, Revenue and Scope till 2023
Posted by Pradeep Zende on January 9th, 2020
Cheese is perhaps one of the most popular food products in the world and is renowned for its variety which holds appeal across all age groups. Rising populations and growing demand for food have resulted in the steady and consistent growth in demand for cheese. The U.S Cheese market is expected to account for over a quarter of global cheese by volume and Market Research Future (MRFR) has projected the market to reach an estimated 6787kilo tons by 2023. MRFR has further found that the U.S cheese market is set to grow at a CAGR of 3.55% during the forecast period of 2017 to 2023.
Increasing demand and use of several yield increasing agricultural practices have led to increased milk production, which has been a major driver of the cheese market. Moreover, authenticity, product innovation and the advancement in the cheese making process in the region are expected to increased demand for cheese. Cheese is available in a wide variety with each kind of cheese having several sub-varieties, thus increasing the sales and demand for varied cheeses. Increasing product innovation and the launches of various uniquely flavored cheeses is expected to provide market expansion opportunities.
MRFR's segmental analysis of the U.S cheese market is based on product type, source, application, and states. Based on product type, cheeses have been segmented into fest, Hispanic, mozzarella, cheddar, other Italian cheeses, other American cheeses, Muenster, Colby jack, cream cheese, Monterey jack, pepper jack, cottage cheese, and others. Mozzarella is the most popular cheese in the U.S cheese market with more than 50% of the total market share. The increasing popularity of pizza and other Italian dishes which use mozzarella, and the strong preference for mozzarella string cheese as a snack is expected to keep the segment in its leadership position over the forecast period.
By source, the market is segmented into whole cow milk, skimmed cow milk, and others. Skimmed cow milk accounts for over 80% of the market due to its extensive use in the cheese making process.
By type, the market is segmented into aged fresh, soft white, fresh, semi-soft, hard, blue, flavored, and others.
By application, the market is categorized into cheese processing, cheese dips, cheese spreads, fast food snacks, bakery foods, processed foods, savory snacks, alcohol accompaniments, and others. Fast food snacks are projected to reach an approximate 1,705-kilo tons by 2023 and witness a CAGR of 4.46% during the forecast period.
The region is analyzed and divided by states which include Wisconsin, California, New York, Idaho, New Mexico, Minnesota, and the Rest of U.S.
Wisconsin captures close to 30% of the market and is projected to reach around 1900 kilotons by 2023. Wisconsin is one of the region’s largest cheese producing states and is closely followed by California which is also expected to witness considerable growth over the forecast period. Wisconsin has a strong presence of various market players and many small artisan cheese producers who are encouraging market growth and inducing an increase in demand for a variety of cheeses. Mozzarella cheese is one of the largest segments in Wisconsin. The state is also well known as a producer of various types of American cheeses which are expected to maintain Wisconsin's position in the U.S market.
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About the AuthorPradeep Zende
Joined: February 12th, 2019
Articles Posted: 396
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