Research Reports And Consulting #Cheese Market

The cheese market size was valued at US$ 88.7 billion in 2021 and is projected to reach US$ 105.9 billion at a CAGR of 3.6% from 2021 to 2026. The global cheese market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. The demand for convenience food and fast food is driving the growth of cheese powder, and the rising demand from developing regions is likely to continue to boost its demand in the near future. 

How big is the cheese market? 

Various forms of cheese products and longer shelf life to augment the demand for cheese products The market for cheese products is witnessing progressive growth due to a number of factors. The use of assorted cheese types in various food products in the form of slices, blocks, shredded, and grated forms is driving the market growth. The rapid evolution of the foodservice and food manufacturing sectors is generating a positive outlook for the market in the coming years.

 The sales of cheese products through the retail channel have witnessed a spike, as an increasing number of households are adopting cheese-based cuisines and recipes in their diets. The availability of cheese products in a variety of formats further promotes market growth. The products are available in wedged, cut, shaved, shredded, cubed, or grated forms. Furthermore, the growing popularity of premium cheese varieties, such as artisan and aged cheeses, is also expected to accelerate the growth. 

The cheese products segment has been further categorized into solid and semi-liquid types. Solid types of cheese include slices, blocks, shredded, and grated cheese, while semi-liquid types include cream cheese products. Europe is projected to reach USD 44.82 billion during the forecast period. In 2020, Europe accounted for a market share of 43.7% in the global cheese market. The European cheese market is led by the Germany market. Germany is engaged in the production of most of the types of cheeses, including hard cheese, semi-hard cheese, semi-soft cheese, soft cheese, and fresh cheese. The high volume of cheese production and consumption can be attributed to the varied applications of cheese in ready meals, dips, dressings, and bakery products, which constitute a major chunk of German food. The key players in the European market include Glanbia (Ireland), Dalter Alimentari Spa (Italy), Savencia SA (France), and FrieslandCampina (Netherlands).

 According to MarketsandMarkets™, the “Cheese Market by Product Type (Cheddar, Mozzarella, Parmesan, American Cheese, and Blue Cheese), Type (Cheese Product and Cheese Powder), Source (Animal and Plant), Nature, Distribution Channel, Application, and by Region – Global Forecast to 2026″, is estimated to be valued at USD 88.7 billion in 2021 and is projected to reach USD 105.9 billion by 2026, recording a CAGR of 3.6% during the forecast period.

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Market Dynamics

Drivers: Growing fast-food industry

The global fast-food industry, also known as the Quick Service Restaurants (QSRs) industry, is rising at a significant rate. These industry witnesses a high demand for cheese as a key ingredient in its various food products. Thus, the demand for cheese is growing on account of giant fast-food chains, such as Domino’s Pizza, Inc. (US), Pizza Hut of Yum! Brands (US), and Papa John’s International, Inc. (US). Changing lifestyles, such as increasing dependence on ready-made or ready-to-eat meals due to busier schedules and increased demand for packaged foods globally, have increased the demand for fast food products and ultimately fueled the demand for cheese.

Restraints: Rising concern over the adverse health effects of cheese consumption

The rising consumer awareness about the ill-health effects of cheese poses a great restrain to the growth of the global cheese market. Obesity, high cholesterol levels, and heart diseases are the major conditions associated with the consumption of processed cheese. In the US, certain kinds of cheese have resulted in outbreaks of food-borne gastroenteritis, food sensitivities, lactose intolerance, allergies, and high-calorie content. Consumers have now become aware of the association of these diseases with cheese. This factor is posing as a restrain for various cheese manufacturers to overcome and meet the customer demand for healthy food.

Opportunities: Emergence of plant-based cheese alternatives

The market for plant-based cheese is growing at a significant rate; consumers are drifting away from animal sources to plant-based sources. This is attributed to the rising aversion toward meat, the advent of veganism, and concerns over animal cruelty. The demand for clean-label products, concerns about sustainability, and a dire need to avoid allergens are some of the major factors responsible for shifting consumer preferences toward plant-based alternatives.

Challenges: Regulatory influence

The stringent regulatory legislations regarding cheese are projected to be challenging for the growth of the market. The demand for accurate labeling, listing the names of all the ingredients in the product, and specifying the details of the ingredients and their nutrient content is on the rise owing to the rising health concerns. Adhering to these labeling regulations may increase the cost of packaging and labeling, which, in turn, affects the price of the final products. This leads to low acceptance by consumers, which poses a challenge for the market.

The Asia Pacific region is projected to witness the highest growth during the forecast period.

The countries in the Asia Pacific region have a well-established dairy industry, which subsequently proves the potential for growth of the cheese market in these regions. Hectic work schedules, along with the rising prevalence of western food culture, represent some of the significant factors strengthening the cheese market growth in the Asia Pacific region. Since the past few years, the rapid food globalization has caused a boom in the retail and foodservice sectors, owing to this there is the demand for cheese-based products that is expected to generate significant growth in this region.

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Key Players:

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, Glanbia (Ireland), Saputo (Canada), Arla Foods (UK), BEL Group (France), Fonterra (New Zealand), FrieslandCampina (Netherlands), Dalter Alimentari Spa (Italy), The Kraft Heinz Company (US), Amul (India), DMK Deutsches Milchkontor GmbH (Germany), and Meiji Holdings (Japan).

According to MarketsandMarkets™, the “Cheese Market by Product Type (Cheddar, Mozzarella, Parmesan, American Cheese, and Blue Cheese), Type (Cheese Product and Cheese Powder), Source (Animal and Plant), Nature, Distribution Channel, Application, and by Region – Global Forecast to 2026″, is estimated to be valued at USD 88.7 billion in 2021 and is projected to reach USD 105.9 billion by 2026, recording a CAGR of 3.6% during the forecast period. The cheese market is highly impacted by the increasing size of the convenience & fast-food industry and innovative offerings by cheese manufacturers. The growth rate of the fast-food industry is significant owing to the changing lifestyles of people around the globe.

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The rising influence of western cuisines, inflating disposable incomes, and introduction of a number of flavored cheese products, including pepper, garlic, red chili flakes, and oregano pickle, drives the cheese market. Although cheese is a staple in Western countries such as Europe and the US, its versatility enables it to cater to the different tastes and preferences of consumers globally.

The sauces, dressings, dips, and condiments segment, by application, is projected to witness significant growth during the forecast period.

Cheese powder imparts an enhanced cheese flavor to sauces, dressings, dips, and condiments. This can be done with the use of a single flavor cheese or a mix of more than one cheese flavors. The use of cheese powder also offers better taste, convenience, and functionality in recipes where high-temperature cooking is required. With the rapidly rising demand for fast food in the Asia Pacific, the demand for cheese powder in sauces, dressings, dips, and condiments is likely to grow at the highest rate, in this region, during the forecasted period.

Browse in-depth TOC on “Cheese Market”161 – Tables
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The cheddar cheese segment, by product type, is estimated to dominate the market in 2021.Cheddar is one of the many varieties of cheese, which is off white in color and has a sharp taste with a relatively hard texture than any other varieties. This category of cheese is most popular in European countries. Cheddar cheese finds application across a multitude of industries including bakery (melted, grated, shredded), soups, sauces, & dips, ready meals, snacks & cereals, and other food applications.

The Asia Pacific region is projected to witness the highest growth during the forecast period.

The countries in the Asia Pacific region have a well-established dairy industry, which subsequently proves the potential for growth of the cheese market in these regions. Hectic work schedules, along with the rising prevalence of western food culture, represent some of the significant factors strengthening the cheese market growth in the Asia Pacific region. Since the past few years, the rapid food globalization has caused a boom in the retail and foodservice sectors, owing to this there is the demand for cheese-based products that is expected to generate significant growth in this region.

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Key Players:

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, Glanbia (Ireland), Saputo (Canada), Arla Foods (UK), BEL Group (France), Fonterra (New Zealand), FrieslandCampina (Netherlands), Dalter Alimentari Spa (Italy), The Kraft Heinz Company (US), Amul (India), DMK Deutsches Milchkontor GmbH (Germany), and Meiji Holdings (Japan).

According to MarketsandMarkets, the global cheese market size is estimated to be valued at USD 88.7 billion in 2021 and is projected to reach USD 105.9 billion by 2026, recording a CAGR of 3.6% during the forecast period. Various factors have played a major role in driving the market growth across the globe. The effects of rapid westernization have led to the rising demand for cheese in countries other than Europe and the US. A sharp increase in consumer demand for packaged meals containing cheese and rising demand from the food processing industry is also propelling the cheese market.Cheese products are mainly derived from dairy-based sources. However, there is an increase in trends of consuming cheese products derived from plant sources. Owing to various health-related issues such as lactose intolerance, allergenic associated with dairy-based products, among other consumers are more inclined towards plant-based food products. Furthermore, an increase in consumer shift towards vegan products are also to drive the growth of plant-based food products such as cheese.

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The growth of the cheese market is brought forth through three major distribution channels- retail, food service, and food manufacturers. The foodservice industry has been severely impacted by the COVID-19 pandemic, where most of the fine dining and casual dining restaurants had to shut down amid the lockdowns. However, there has been steady recovery and improvement and the sales are now driven by an increase in the consumption of fast-food items, such as pasta, pizza, and burger, in quick-service restaurants (QSRs).

Convenience food and ready-to-eat products are easy to cook and save preparation time. With the increasing number of working women in developed and developing countries, the demand for products, which are easy and quick to prepare while being tasty, fresh, and nutritious at the same time, continues to grow. Cheese is used in a range of ready meal products for adding characteristic flavor. Owing to the rising inclination of consumers toward cheese-flavored ready meal products, the demand for cheese is expected to grow across the globe.

Market Dynamics

Drivers: Growing fast-food industry

The global fast-food industry, also known as the Quick Service Restaurants (QSRs) industry, is rising at a significant rate. These industry witnesses a high demand for cheese as a key ingredient in its various food products. Thus, the demand for cheese is growing on account of giant fast-food chains, such as Domino’s Pizza, Inc. (US), Pizza Hut of Yum! Brands (US), and Papa John’s International, Inc. (US). Changing lifestyles, such as increasing dependence on ready-made or ready-to-eat meals due to busier schedules and increased demand for packaged foods globally, have increased the demand for fast food products and ultimately fueled the demand for cheese.

Restraints: Rising concern over the adverse health effects of cheese consumption

The rising consumer awareness about the ill-health effects of cheese poses a great restrain to the growth of the global cheese market. Obesity, high cholesterol levels, and heart diseases are the major conditions associated with the consumption of processed cheese. In the US, certain kinds of cheese have resulted in outbreaks of food-borne gastroenteritis, food sensitivities, lactose intolerance, allergies, and high-calorie content. Consumers have now become aware of the association of these diseases with cheese. This factor is posing as a restrain for various cheese manufacturers to overcome and meet the customer demand for healthy food.

Opportunities: Emergence of plant-based cheese alternatives

The market for plant-based cheese is growing at a significant rate; consumers are drifting away from animal sources to plant-based sources. This is attributed to the rising aversion toward meat, the advent of veganism, and concerns over animal cruelty. The demand for clean-label products, concerns about sustainability, and a dire need to avoid allergens are some of the major factors responsible for shifting consumer preferences toward plant-based alternatives.

Challenges: Regulatory influence

The stringent regulatory legislations regarding cheese are projected to be challenging for the growth of the market. The demand for accurate labeling, listing the names of all the ingredients in the product, and specifying the details of the ingredients and their nutrient content is on the rise owing to the rising health concerns. Adhering to these labeling regulations may increase the cost of packaging and labeling, which, in turn, affects the price of the final products. This leads to low acceptance by consumers, which poses a challenge for the market.

Europe is projected to account for the largest market during the forecast period

The European cheese market is the largest in the world, and despite very high per capita consumption levels, market growth has remained attractive and stable. Cheese has provided better export opportunities than any other dairy product, as the willingness to pay for quality European cheese has always been high, and the impact of higher raw-material costs is less problematic. Due to the maturity of the market, the strategic focus of key players is to consolidate current market positions by acquiring add-ons and facilitating new and innovative product development to stay ahead in the industry.

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