Updated on: April 11, 2023
According to MarketsandMarkets "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", The global cheese market is expected to see steady growth, with an estimated worth of USD 88.7 billion in 2021 and a projected value of USD 105.9 billion by 2026, showing a compound annual growth rate (CAGR) of 3.6%.
Despite economic uncertainties and market challenges, the cheese market remains resilient. Macro and microeconomic factors in key countries have influenced the global cheese industry, leading to strong sales growth in the forecast period. The demand for convenience and fast food is driving the growth of cheese powder, and the rising demand from developing regions is expected to continue boosting cheese demand.
Browse 161 market data Tables and 57 Figures spread through 196 Pages and in-depth TOC on "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"
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Lower prices of conventional cheese are expected to drive global demand.
Conventional cheese products have been around for a long time, with multiple varieties and styles crafted to meet global consumer demand, the market is considered saturated. However, with the advent of organic products, there has been a debate over the efficacy and safety of conventionally produced cheese. Conventional dairy cows that are raised in large-scale farming operations are treated with antibiotics for disease prevention. A study published by the Stanford University School of Medicine in October 2014 shows that this increased antibiotic usage may be spreading Salmonella bacteria among cows and livestock.
In the US, the FDA is responsible for direct inspectional coverage of all non-grade A products shipped in interstate commerce, including milk and milk products, cheese and cheese products, and butter. State and local regulatory agencies are responsible for the enforcement of sanitation requirements on dairy farms, in processing plants, dry milk plants, and receiving and transferring stations.
Various forms of cheese products and longer shelf life to augment the demand for cheese products
The market for cheese products is seeing progressive growth due to various factors, including the use of assorted cheese types in various food products in the form of slices, blocks, shredded, and grated forms. The rapid evolution of the foodservice and food manufacturing sectors is generating a positive outlook for the market. Sales of cheese products through the retail channel have witnessed a spike, and the availability of cheese products in a variety of formats promotes market growth. The cheese products segment has been further categorized into solid and semi-liquid types
Home cooking and stocking of foodstuff to boost the market growth of the retail sector
Retail sales of cheese have surged amid the COVID-19 outbreak due to an increase in home cooking and intermittent lockdowns in most countries. The spike in demand for retail cheese is pointing to a demand for convenience, grab-and-go, and pre-sliced or pre-shredded cheeses. The emergence of door-to-door delivery of grocery items and dairy products has further propelled the cheese market as this concept offers convenience and easy procurement of desired products to consumers.
Europe is projected to reach USD 44.82 billion during the forecast period, with Germany being the leading market for cheese production and consumption.
In 2020, Europe accounted for a market share of 43.7% in the global cheese market. The European cheese industry 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).
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