Cheese Market to be Worth USD 161.23 Billion by 2028 | Cheese Industry Trends, Size, Share, Qualitative Insights, Business Strategies, Dynamics, Top Manufacturers and Analysis by Fortune Business Insights™
Companies covered in cheese market are Fonterra Co-operative Group Limited (Auckland, New Zealand), Royal FrieslandCampina N.V. (Amersfoort, Netherlands), Saputo, Inc. (Montreal, Canada), Winsleydale Creamery (Yokshire, U.K.), Dairy Farmers of America, Inc. (Kansas, U.S.), Lactalis International (Laval, France), Arla Foods Group (Viby, Denmark), The Kraft Heinz Company (Illinois, U.S.), The Ilchester Cheese Company (Ilchester, U.K.), Glanbia Plc (Kilkenny, Ireland ), Chicago Mercantile Exchange (Illinois, U.S.) and others.
Pune, India, Jan. 26, 2022 (GLOBE NEWSWIRE) — The global cheese market size was USD 120.63 billion in 2020. The market is projected to grow from USD 123.87 billion in 2021 to USD 161.23 billion by 2028, exhibiting a CAGR of 3.84% during the forecast period (2021-2028). This information is presented by Fortune Business Insights™, in its report, titled, “Cheese Market, 2021-2028.”
As per our expert analysts, the market is observing advanced growth, owing to the growing demand for varied types of cheese in several food products. The upsurge in the ingestion of fast foods, such as pizza, pasta, and burgers, has contributed to the surging demand for assortments such as mozzarella, parmesan, as well as cheddar.
COVID-19 Impact
Global Demand & Supply Disparity of Cheese Products during COVID-19 to Obstruct Growth
The industry for this product has confronted an abrupt commotion amidst the outbreak of the COVID-19 pandemic, owing to the prime modification in demand dynamics. Lockdowns across the world have resulted in the shutdown of the foodservice industry, which has substantially deteriorated the demand for all processed food products. The declining demand for greater-value products is anticipated to reduce costs.
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List of Key Players Covered in this Market Report
- Fonterra Co-operative Group Limited (Auckland, New Zealand)
- Royal FrieslandCampina N.V. (Amersfoort, Netherlands)
- Saputo, Inc. (Montreal, Canada)
- Winsleydale Creamery (Yokshire, U.K.)
- Dairy Farmers of America, Inc. (Kansas, U.S.)
- Lactalis International (Laval, France)
- Arla Foods Group (Viby, Denmark)
- The Kraft Heinz Company (Illinois, U.S.)
- The Ilchester Cheese Company (Ilchester, U.K.)
- Glanbia Plc (Kilkenny, Ireland )
- Chicago Mercantile Exchange (Illinois, U.S.)
Report Coverage
The report offers valuable insights obtained thorough the study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy.
Segmentation
On the basis of source, the market is bifurcated into plant-based and animal-based. On the basis of product type, the market is segmented into feta, parmesan, mozzarella, cheddar, and others. On the basis of type, the market is fragmented into hard & soft cheese, spreadable, block, natural, processed, and others. On the basis of distribution channel, the market is categorized into online retail, specialty stores, convenience stores, supermarkets/hypermarkets. Geographically, the market is classified into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
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Drivers and Restraints
Rising Admiration of Flavor Blends to Thrust Market Growth
In past few years, consumer inclination for trying novel striking flavors and cuisines has augmented significantly. The surging popularity of cheese flavor amalgamations in numerous cuisines, such as Italian as well as Mexican, has fast-tracked the usage of diverse assortments in these cuisines.
Moreover, the speedy extension of the foodservice industry has demanded foremost product processors to create inventive products, such as powder and creamers, which acts as a driver and fuels the market growth.
However, the rising awareness for health risks due to fat consumption may hinder market growth.
Regional Insights
Europe to Dominate Global Market
Europe holds the maximum market shares and maintains its dominance in the market, owing to the existence of giant milk-producing nations. The region’s thriving food and foodservice industry has contributed to the rising demand for several product diversities across these sectors.
North America is anticipated to grow at a considerable CAGR, owing to the increasing demand for clean-label and sustainable dairy products.
Asia Pacific is projected to demonstrate a drastic change in the ingestion inclinations of dairy products. The growing disposable income levels of consumers in the region and comparatively steady milk prices have substantially contributed to the amplifying sales of cheese assortments.
Competitive Landscape
Procurements Instigated by Crucial Companies Set to Endorse Market Growth
The foremost players in the market incessantly determine for proficient tactics to reinforce their brand value as well as promote the global cheese market growth with experiencing least latent hurdles. One such operative strategy is procuring competitive companies and further safeguarding a profit for all involved companies.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
TOC Continued…!
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Industry Development
July 2020: Brownes Dairy, an Australian dairy giant, declared the unveiling of conservative cheddar cheese on the retail platform to take advantage of the rising demand for product among families.
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Cheese Powder Market Size, Share & Industry Analysis, By Type (Cheddar, Mozzarella, Parmesan, Blue Cheese, Others), By Application (Ready-to-cook/Ready-to-eat Meals, Sauces, Dressings, and Dips, Bakery Snacks & Dessert, Soups) and Regional Forecast, 2022-2029
Cheese Analogue Market Size, Share & COVID-19 Impact Analysis, By Type (Non-dairy Cheese Analogues, Dairy Cheese Analogues, and Partial Dairy Cheese Analogues), Application (Bakery and Confectionery, Breakfast Cereals, Animal Feed, and Others), and Regional Forecast, 2020 – 2027
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