Global Cheese Market is Expected to Reach above USD 124.20 Billion in 2022
Zion Market Research has published a new report titled “Cheese Market by Product (Mozzarella, Cheddar, Feta, Roquefort and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” According to the report, global demand for cheese was valued at over USD 95.17 billion in 2016, is expected to reach above USD 124.20 billion in 2022 and is anticipated to grow at a CAGR of slightly above 4.57% between 2017 and 2022.
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Cheese comprises of high protein and fat content, therefore, is used in most of the fast food along with daily meals. Cheese is one of the indispensible parts of the European cooking process. It was noted that almost 65 % of the dishes including fast food take in cheese as the prime element. These factors are accounts for the stupendous growth of cheese market in this region. Europeans wholly relay on cheese for their protein intake and hence cheese is consumed on daily basis. Presence of a wide range of cheese flavors coupled with introduction of several cheese products in market spurs the growth of the cheese market.
North America was the second largest cheese market in 2015 and is expected to maintain its position in the forecast period. U.S is considered as the largest producer of the cheese. Cheese is an integral component in the fast food. The fast food chain in North America is escalating over the bonds due to on-go lifestyle in North America which positively impacts on the growth of the cheese market. However, limited use of cheese among obese population due to high fat content in cheese may restrict the growth of cheese in this region. However, introduction of diverse cheese with high nutritional content in North America may lead to elevated growth of cheese market in forecast period.
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In recent times, Asia pacific is expected to be the fastest burgeoning cheese market. Majority of the pull towards western fast food of the Asian population is expected to foster the growth of the cheese market in this region. Sharp rise in dairy industry especially in India is expected to clutch the majority of the market share in the forecast period. Also, existence of foremost brand such as Amul, Go cheese in India may shore up the growth of the cheese market in this region. Furthermore, India is anticipated to experience strong growth due to plentiful of government initiatives to strengthen the dairy industry in India.
Latin America is expected to exhibit worthwhile growth in the cheese market owing to tremendously expanding dairy industry in Brazil. Brazil is expected to be the leading cheese market in the forecast period owing to its fastest pace in developing dairy industry. Middle East and Africa are likely to witness decent growth in the coming years. Availability of workforce and raw sources are attracting the major manufacturing hub to invest in these regions which may contribute to escalating growth of the cheese market in forecast period.
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Mother Dairy, Almarai, Bega Cheese, Cady Cheese Factory, Amul, Parag Milk Foods, Hook’s Cheese Company, Bel Group, Brunkow Cheese Factory, Bletsoe Cheese, Kraft and Burnett Dairy among others are some of the key players in the cheese market.
This report segments the cheese market as follows:
Cheese Market: Type Analysis
- Natural Cheese
- Processed cheese
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Cheese Market: Product Analysis
Cheese Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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