Cheese Market Overview:
Cheese has become a primary component in daily diets worldwide. According to the United States Department of Agriculture, 12.7 billion pounds of cheese was produced in the country in 2017 alone, and Americans on average consume approximately 30 pounds of cheese annually. Needless to say, cheese market is thriving, as its products are included in nearly every cuisine in the world. In 2018, the global cheese market size was estimated between $65 billion to $68 billion according to experts at IndustryARC. During the forecast period of 2019-2025, the market is estimated to grow at a standard CAGR of 2.5%-3.5%. Geographically, Europe leads the cheese market with a regional share of 38%-40% as of 2018, owing to the diversity in cheese produced by 28 different countries in the European Union. Cheese runs in European tradition, and is added to virtually all the dishes in most households.
Cheese Market Outlook:
Cheese has existed in our world’s history for almost 7000 years, and can be obtained from both raw and pasteurized milk. Categorized as a leading source of proteins, and healthy fats, it is now being incorporated as an integral part in specialized diet plans like ketosis diet. Cheese production undergoes several imperative steps such as curdling, coagulation involving proteins like casein, and whey, fermentation, ripening, etc. These processes lead to the development of different kinds of cheeses like Mozzarella cheese, Gouda cheese, Feta cheese, Blue cheese, Cheddar cheese, and others. The most common application of cheese market is in hypermarkets, and supermarkets where cheese forms an important sales product. According to the analyst, this application segment is expected to grow at a CAGR of 2%-3% during the forecast period of 2019-2025.
Cheese Market Growth Drivers:
The Rise Of Fast Food Conglomerates
Fast food chain restaurants like McDonald’s and Domino’s Pizza have successfully built a pizza, and burger consumption culture throughout the world. Both the products are laced with cheese, and are also sold at subsidized rates which attracts consumers towards the dishes. The most important milestone in the progression of cheese market is reaching the Asian market where cheese was virtually non-existent. China, for example is burgeoning with a high cheese demand ever since fast food chain restaurants took over the taste buds of Chinese people. Chinese producers are now finding it hard to meet the snowballing demand, and are exporting cheese vigorously. In 2017 alone, Chinese government imported around 90,000 tons of cheese with New Zealand topping the exportation at 51 million kgs.
Urbanization And An Increase in Disposable Income
Since the world is progressing towards an exponential increase in urbanization, it can be established that households with disposable income are mushrooming. This leads to frequent visits to the supermarkets, and an increased uptake of exotic products. With a recent fitness wave having already engulfed the first world countries, people are resorting to cook at homes using ingredients like cheese that are being marketed as a healthy source of protein, and fats. Cheese forms a basic component of the ketosis diet which has skyrocketed in popularity, and disseminates the benefits of consuming cheese.
Cheese Market Challenges:
Cheese has a short shelf life, which is why it is advisable to consume it faster. The increasing demand, and production of cheese coupled with its brief shelf life has led to perpetual cheese wastage. With expansive flavors reaching our supermarkets, consumers are preferring exotic flavors over traditional cheeses. This is leading to a steady decline in traditional cheese sales, and consumption. Around 1.4 billion pounds of American cheese like Cheddar is lying in American warehouses which may get wasted eventually. This challenge can only be combated with companies inducing innovation in the cheese market, and altering the quality of their products according to consumer needs.
Cheese Market Key Players Perspective:
Go Cheese, is an indigenous brand developed by Parag Milk Foods, an Indian dairy company. In India, the largest cheese production plant is owned, and run by Go Cheese, and is located in Manchar, a small district in Maharashtra. According to the company, cheese market has spread its footprint, by supplying not just to hotels, and restaurants but to street food vendors as well.
According to the analyst, the topmost companies in the global cheese market are Almarai Co. Ltd., Sargento Foods Incorporated, Friesland Campina, Dzintars, Go Cheese, Parag Milk Foods, Gebrder Woerle Ges.m.b., Mother Dairy, Old Fashioned Cheese, Vindija DD, and Bletsoe Cheese, Inc.
Cheese Market Trends:
Veganism, predicted to be the number one food trend in 2018 is inspiring people to innovate, and develop alternative, healthier products that taste the same as the actual product but do not harm the environment as much. Cheese market has caught up with the trend, with vegan cheese being sold robustly worldwide. Veganism has given rise to an affliction towards plant-based diets that easily incorporate vegan cheese. The demand for this product is being driven by its artisanal appeal, and organic nature.
With globalization at its peak in the 21st century, we are living in interesting times where we can easily get introduced to cuisines all over the world. Cheese market has capitalized on this factor, with producers pairing up cheese with different, and unusual flavors. Anand Milk Union Limited (Amul), an Indian dairy company has paired up its cheese spreads with various flavors like red chilli pepper flakes, tikka dip, oregano pickle, etc. Innovative products like these are intriguing to consumers, and drive the growth of cheese market.
Cheese Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the cheese market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the cheese market, and their specific applications in different areas.
Cheese Market Report: Industry Coverage
Cheese market can be segmented into many types. On the basis of source, the market can be bifurcated into cow milk, sheep milk, goat milk, and buffalo milk. Based on type, the market can be segmented into natural cheese, hard cheese, soft cheese, processed cheese, spreadable cheese, and block cheese. Another important segmentation is distribution channel which divides the market into hypermarket, supermarket, food specialty stores, and convenience stores.
The cheese market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Cheese Market Report
Is the market demand for Cheese growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for Cheese market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global Cheese market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures