The global cheese market was valued at USD 187.42 billion in 2023 and is expected to expand from USD 191.94 billion in 2024 to USD 287.12 billion by 2032, representing a compound annual growth rate (CAGR) of 4.61% during the forecast period.
The growing demand for cheese is attributed to its wide availability, versatility, and the increasing popularity of ethnic cuisines like Mexican and Italian, which prominently feature cheese. Among the various types, mozzarella and cheddar are the most commonly consumed.
This information is derived from the research report by Fortune Business Insights™ titled “Cheese Market, 2024-2032.”
Information Source: https://www.fortunebusinessinsights.com/cheese-market-104293
Segments:
Long Shelf Life and Rising Demand for Natural Cheese to Propel Market Growth
Market Segmentation by Type:
The cheese market is categorized into processed and natural cheese segments. Artisan producers are increasingly emphasizing the use of herbs, flavors, fruits, spices, and nuts, steering consumer preferences towards natural cheese. Meanwhile, processed cheese continues to enjoy popularity, particularly in developing regions such as South America, Asia Pacific, and the Middle East & Africa.
Market Segmentation by Source:
The cheese market is further divided into plant-based and animal-based categories. The plant-based segment features options such as cashew, soy, almond, and more, while the animal-based segment includes cheese derived from cattle, camels, sheep, and goats. The animal-based cheese segment is anticipated to dominate the market, thanks to its appealing packaging and extended shelf life. However, the plant-based segment is expected to experience significant growth driven by the increasing variety of available options.
Product Type Insights:
In terms of product types, the market encompasses feta, cheddar, parmesan, mozzarella, and other varieties. The flavor and texture of cheese are heavily influenced by the type of milk used and the production processes. Mozzarella is projected to command the largest market share due to its widespread application in popular dishes like pizza, pasta, risotto, and enchiladas.
Form-Based Market Trends:
Cheese is offered in various forms, including spreadable, block, and others. Block cheese, known for requiring longer ripening and delivering high nutritional value, holds a substantial share of the market. This form is available in both hard and soft varieties. Additionally, spreadable cheese is gaining traction for its convenience in culinary applications such as cakes, snacks, and sandwiches.
Distribution Channel Analysis:
The cheese market's distribution channels include specialty stores, online retail, supermarkets/hypermarkets, and convenience stores. Supermarkets and hypermarkets lead the distribution landscape by offering a diverse product range and often providing free samples to entice customers.
The global cheese market is examined across several regions, including Europe, North America, Asia Pacific, South America, and the Middle East & Africa, highlighting the dynamic growth opportunities present in various geographic locations.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Increasing Demand for Plant-based Cheese to Drive the Market Growth
Plant-based cheese, made from cashew, soy, almond, and other non-dairy sources, is witnessing a significant rise in popularity, fueled by the increasing trend of veganism and a growing demand for plant-based foods. This heightened interest in vegan options, coupled with the expansion of plant-based product offerings, is anticipated to considerably drive market growth for cheese throughout the forecast period.
However, the market may face challenges due to health concerns linked to casein, a protein present in dairy cheese. Casein allergies can lead to various issues, including acne, headaches, inflammation, and skin rashes, which could potentially impede market expansion.
Regional Insights:
Increasing Investments and Partnerships to Propel Market Growth in Europe
European consumers are increasingly prioritizing healthy food options to enhance their well-being, leading to a growing preference for organic and non-GMO products. This trend is positively influencing the cheese industry within the region, as consumers seek out options that align with their health-conscious lifestyles.
In North America, the demand for nutritious and convenient food products is propelling market growth. This region stands out as a significant market, with millennials’ evolving snacking and dessert habits contributing to a surge in cheese consumption. As this demographic seeks quick and satisfying options, cheese is becoming an integral part of their diets, further driving industry expansion.
Competitive Landscape:
Launching of New Products by Key Players to Stay Competitive in the Market
Key industry players are employing various competitive strategies to cultivate business opportunities, with a strong focus on new product launches. These strategies aim to enhance product reach, expand distribution channels, and promote overall market growth and diversification. By introducing innovative products, companies can attract new customers and adapt to evolving consumer preferences, thereby strengthening their market position and driving continued growth in the cheese sector.
Key Industry Development:
- September 2021: Lactalis Canada introduced two direct-to-consumer platforms, DairyMarketCulinary.ca. and Cheeseworld.ca for cheese and dairy.
List of Key Players Mentioned in the Report:
- The Kraft Heinz Company (U.S.)
- Fonterra Co-operative Group Limited (New Zealand)
- Arla Foods amba (Arla Foods Group) (Germany)
- FrieslandCampina (Netherlands)
- Saputo Inc. (Canada)
- Lactalis Ingredients (France)
- Wensleydale Creamery (U.K.)
- Dairy Farmers of America, Inc. (U.S.)
- SAVENCIA SA (France)
- Norseland Ltd (Tine Group) (U.K.)
