Global Cheese Market is estimated to be US$ 125.82 billion by 2030 with a CAGR of 5.8% during the forecast period - By PMI

Covina, March 16, 2022 (GLOBE NEWSWIRE) -- Processed cheeses such as Cheddar, Parmesan, and Romano have seen an increase in popularity in recent years due to factors such as the product longer shelf life, appealing flavor profile, and adaptability at a lower cost than other varieties of cheese which drives the cheese market. Processed cheese, in addition to its constant use in fast food products, is used in local cuisines because of its distinct flavor profile. In addition, the rise of private brands in developing nations, as well as demand for western cuisine, has bolstered the market for processed cheese. In addition, the online market for the buying of food items, including cheese, has grown rapidly in the previous 3-4 years as internet access has increased. This area has attracted a number of vertical experts, like as Amazon, Walmart, Carrefour, and others, who are riding the wave of e-commerce growth and vying for a piece of the online cheese pie. The global fast-food business, often known as Quick Service Restaurants (QSRs), is seeing rapid growth. Cheese is in significant demand as a key ingredient in these industries' numerous food products. As a result, big fast-food franchises such as Domino's Pizza, Inc. (US), Pizza Hut of Yum! Brands (US), and Papa John's International, Inc. are driving up cheese demand (US). Changing lifestyles, such as an increased reliance on ready-made or ready-to-eat meals due to busier schedules and an increase in global demand for packaged goods, have spurred demand for fast food products, which has fueled demand for cheese.

Region Analysis:

The European cheese market is the world's largest, and despite extremely high per capita consumption, market growth has remained attractive and consistent. Cheese has traditionally had greater export prospects than any other dairy product, because there has always been a high willingness to pay for high-quality European cheese, and the impact of higher raw-material costs is less troublesome. Because of the market's maturity, prominent companies' strategy focus is on consolidating present market positions by purchasing add-ons and facilitating new and creative product development in order to stay ahead of the competition.

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Key Development:

• Dalter Alimentari Spa released a new cheese cut product, cheese matchsticks, in March 2021. The needs of the food production and restaurant industries are met by this product. It's commonly used in ready-to-eat meals, pre-made salads, soups, and sauces, as well as fillings and stuffings.
• Glanbia finalised the acquisition of Foodarom in August 2020. (Germany). Glanbia's flavour and nutritional solutions capabilities were strengthened as a result of the acquisition.

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Scope of the Report:

The Global Cheese Market accounted for US$ 89.34 billion in 2020 and is estimated to be US$ 125.82 billion by 2030 and is anticipated to register a CAGR of 3.5%. Global cheese market has been segmented on the basis of product type, process, and region.

• On the basis of Source, the target market classified into Animal based and Plant based.
• On the basis of product type, the target market categorized into mozzarella, cheddar, feta, roquefort, Parmesan and others.
• On basis of Type, Cheese market is segmented by Processed, Natural, Block, Spreadable, Hard & Soft Cheese
• On basis of Distribution Channel, the target market is classified into Supermarkets/ Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail. 

Competitive Analysis:                                                                                                  

Key players in the global cheese market includes Arla Foods, Bel Group, Fonterra Food, Kraft Heinz, Lactalis Group, SAVENCIA SA, Britannia Industries Limited, Associated Milk Producers Inc., Saputo Inc., and Gujarat Cooperative Milk Marketing Federation Ltd.

Detailed Segmentation:

Global Cheese Market, By Source:

• • • Animal Based
      
      • Cattle
      • Sheep
      • Goat
      • Camel
    • Plant-based
      • Cashew
      • Almonds
      • Soya
      • Others 

Global Cheese Market, By Product Type:

• • • Mozzarella
    • Cheddar
    • Feta
    • Roquefort
    • Parmesan
    • Others

Global Cheese Market, By Type:

• • • Processed
      
    • Natural
    • Block
    • Spreadable 
    • Hard & Soft Cheese

Global Cheese Market, By Distribution Channel:

• • • Supermarkets/Hypermarkets
    • Convenience Stores
    • Specialty Stores
    • Online Retail 

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