Cheese Market Size To Expand at a Notable CAGR Of 3.90% During 2017 - 2023

Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Cheese Market.

Market Overview

As per the predictions by Market Research Future (MRFR), the growth of the cheese market in the future is expected to be highly optimistic, with it reaching 29,398.75 kilo tons by 2023. The market will be growing at a noteworthy growth rate of 3.90% during the forecast period (2017-2023).

Growth Factors and Top Barriers

Cheese originated in southern Italy, with it extensively being used in pizzas and pasta dishes. Consuming cheese leads to numerous health benefits, as it is a great source of minerals, Vitamins, and proteins.

On that note, a number of major factors driving the growth of the global cheese market are the growing demand for cheese owing to the health benefits, increasing fast food chains, changing food habits, and over consumption of pizzas, pastas, as well as easy availability of raw materials like milk. An additional driver promoting the growth of the cheese market is the growing demand for protein rich supplements. However, the perishable nature of the cheese products could lead to the global market taking a hit in the near future. But with a large variety of applications of cheese in the food industry, particularly in bakery and fast food manufacturing industries, the global cheese market will be benefitting to a large extent in the years to come, thereby negating any negative effects of the restraining factors on it.

With the increasing consumption of processed cheese, a tiny market for cured and fresh cheese has emerged in the recent past, especially among the urban consumers. There is a broad range of cheeses found in the market, such as ricotta, cream cheese, mascarpone, fetta, brie, parmesan, which numerous local retail stores and hypermarkets are stocking up, increasing the sale of cheese. Furthermore, Dairy Craft, a company that makes gourmet cheese, reports that the demand for cheese is on the rise at the rate of 25 percent every year. This is the result of the increasing number of hotels and cafes. Apart from this, the retail consumption has been growing rapidly owing to the growing awareness of the health benefits and effective marketing strategies adopted by the cheese brands around the world.

Market Segmentation

The market for cheese is segmented on the basis of source, type, product type, and application.

The market, source-wise, is segmented into goat milk, sheep milk, whole cow milk, skimmed cow milk, buffalo milk, and others. Out of these, whole cow milk is set to experience a growth rate of 4.37%, in addition to reaching the market volume of over 19,000 kilo tons by 2023. This is possible owing to the growing inclination of consumer’s towards cow milk sourced cheese.

The types of cheese are fresh, aged-fresh, soft white, semi-soft, hard, flavored, and others. By the year 2023, fresh cheese is slated to acquire more than 7,000 kilo tons market volume, by clocking in a CAGR of 5.01%. Growing consumer’s preference for fresh cheese on account of the low contamination issues leaves a positive impact on the fresh cheese market. Also, fresh cheese caters to the consumer’s satisfaction owing to its retained nutritional value.

Based on the product type, the market is considered for cheddar, mozzarella, parmesan, American, blue, and others. Here, the widespread application as well as consumption of cheddar cheese is poised to benefit its growth, with the predictions of it growing at a CAGR of 5.40% during the given time frame.

Cheese finds applications in cheese processing, cheese spreads, cheese dips, fast food snacks, alcohol accompaniments, bakery foods, processed foods, savory snacks, and others. The growing application of cheese in fast food snacks is set to lead the cheese market application segment, amassing roughly 25.72% of the total market share. In addition, the application in cheese processing will be noting a notable growth rate of 4.40% from 2017 to 2023. Besides, by the end of 2023, the fast food snacks-based application of cheese is predicted to grow at a rate of 4.73%. Moreover, the application of cheese in bakery foods is also set to observe substantial growth in forthcoming years as a result of the shifting consumption pattern in numerous developed countries across the globe.Browse Complete Report Details @ https://www.marketresearchfuture.com/reports/cheese-market-2213

Regional Insight

Depending on the region, the global cheese market is segmented into Europe, Asia Pacific, North America, and the Rest of the World.

In Europe, cheese is deeply rooted into the food culture, based on which the market size, production-wise, will reach 15,000-kilo tons by 2023. The market in Europe is projected to obtain the top position at the global level, with a 55% share of the global cheese market in the coming years. Moreover, owing to the large-scale popularity of cheese as well as the broad range of use in numerous cuisines across the countries of Finland, France, Germany, Denmark, and other countries, the region will be able to maintain its dominance in the global market during the review period.

Among other regions, North America will be noting a constant expansion of the cheese market at a CAGR of 3.27%. In the region, the United States (U.S.) happens to be a major producer and exporter of cheese in the world. Furthermore, the region is exhibited to witness a high rate of consumption, thereby expanding the market size in the region at a steady pace. Apart from this, the easy availability of a wide variety of cheese is prognosticated to elevate the market position of cheese during the conjectured time frame.

In Asia Pacific, the renowned players are continuously focusing on innovating their product lines, which involves the use of two or more type of cheese during production. This factor will play a major role in the expansion of the market presence in the region.

Top Players

The top players part of the global cheese market are Lactosan A/S (Denmark), Dairiconcepts, L.P. (U.S.), Kerry Group Plc (Ireland), Aarkay Food Products Ltd (India), Arla Foods (Denmark), The Kraft Heinz Co. (U.S.), Land O'Lakes, Inc. (U.S.), Kanegrade Limited (U.K.), Dairy Farmers of America Inc. (U.S.), FrieslandCampina (Netherlands), among others.

Industry Update

March 2019 – Costco is all set to sell cheese-filled shamrock ravioli, for St. Patrick's Day. Nuovo Pasta shamrock-shaped ravioli, as they are called, will be natural and green-colored dough pockets which will be filled with imported Irish aged cheddar, creamy white cheddar, shredded mozzarella, parmesan and velvet ricotta.