Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Cheese Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global cheese market is projected to grow at a CAGR of 2.86% to reach US$151.058 billion by 2027 from US$124.033 billion in 2020.
There are a lot of health benefits associated with the consumption of cheese, pushing consumers towards using it in their everyday meals. Some valuable contents in cheese include iron, calcium, fats, and others. Furthermore, some cheeses contain very little dairy and can be consumed by lactose-intolerant people.
Moreover, cheese is treasured mostly by the younger generation, who like eating snacks such as grilled cheese. These factors are leading to a rise in demand for dairy products such as cheese and are bolstering the market's growth. The offering of better and more advanced varieties of speciality and normal cheese with enhanced flavours and textures, among other properties, by existing and new players in different markets is estimated to lead to a rise in consumption and augment the market growth further over the forecast period.
Natural cheese consumption is becoming more popular among the general public.
Processed cheese contains a lot of additives, so it takes away the benefits of natural cheese. Processed cheese has high quantities of fats, calories, and salt, which are some leading factors that lead to diseases such as obesity, and hypertension.
In addition, food colourings are present in the cheese to make it more appealing to the consumers, and emulsifiers are present to thicken the cheese. However, while the prolonged shelf life may inspire consumers to consume processed cheese, growing health consciousness weighs heavily and encourages people to switch to natural cheese.
Cheese from cow's milk is consumed more than cheese from other types of milk.
There are different types of milk, such as cow milk, buffalo milk, goat milk, and sheep milk, that are used to prepare different types of cheese globally.
However, the cheese produced by using cow milk is consumed more and preferred more among the consumers since cow milk is relatively higher in fat content than others and contains about 3.25% of fat; thus, it is the ideal option. In addition, even the most famous and globally well-known cheese is produced using cow milk, such as Muenster, Swiss, Parmesan, and Gouda.
Regional Outlook
The European region is believed to maintain a big percentage over the forecast timeframe, attributed to high disposable income in countries such as Switzerland, France, Italy, and the United Kingdom, among others.
The Asia Pacific region is estimated to increase its market share over the forecast period owing to many players offering various products in the market and investments being made to develop the food and beverage sector.
This allows them to spend more on quality and premium dairy products such as artisan and speciality cheese, thus boosting the demand in these regions. Moreover, Cheese Fondue events are held in countries such as France and Switzerland, and it is a central component in fast food such as pizzas in Italy and sandwiches and burgers in the UK.
The Asia Pacific region is estimated to increase its market share over the forecast period since new players are coming into the market offering different types of cheese, such as mozzarella and cheddar. Investments are being made to improve the food and beverage industry's standing in countries such as India. Moreover, the spread of western culture in different countries has made fast food popular, affecting the use of cheese to a good extent.
COVID-19 Impact
The global cheese market experienced severe disruption amidst COVID-19 owing to the fluctuating demands from consumers, Stringent government initiatives, lockdowns, and the closure of HoReCa. The COVID-19 pandemic significantly impacted the hypermarket due to the worldwide closure of major distribution networks to limit the occurrence of coronavirus.
Key Development
In May 2020, Shepherd's Purse, one of the top artisan cheese manufacturers, released a version of their new "Fettle" cheese. This product is based on feta-style cheese and is made with sheep milk.
In March 2020, Shuman Cheese, a cheese-making company based out of Wisconsin, announced the launch of its product brand, "Vevan." This brand has been made created to make cheese available to Vegan consumers as well as individuals who are lactose intolerant.
The product lineup under this brand includes various cheeses, including vegan cheddar, vegan mozzarella, vegan pepper jack shreds, and slices. Although the products were launched in the foodservice industry in February, they are expected to hit the supermarket and store shelves later in the spring.
In June 2021, The world's first feta cheese launched in Pure-Pak cartons Prego created the Delice brand for the release of its feta cheese and invested in a processing facility in January.
In May 2021, Danes Cheese, CDO Foodsphere's processed cheese brand in the Philippines, introduced two new flavoured cheese products. Herb & Garlic Cheese and Chili Cheese join the established Sweet & Creamy Cheese and Cheese with Real Bacon Bits as new additions.
Key Metrics
| Report Attribute | Details |
| No. of Pages | 155 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $124.03 billion |
| Forecasted Market Value (USD) by 2027 | $151.06 billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Global |
Company Profiles
- Arla Foods amba
- Fonterra Co-operative Group
- Flanders Dairy Products
- The Kraft Heinz Company
- Schuman Cheese
- Shepherds Purse Cheeses Limited
- Wensleydale Creamery
- BEL SA
- Saputo Inc.
- Britannia Industries
- Lactalis International
- SAVENCIA SA
Segmentation:
By Source
- Cow Milk
- Sheep Milk
- Goat Milk
- Buffalo Milk
By Type
- Natural
- Processed
By Product
- Mozzarella Cheese
- Parmesan Cheese
- Cheddar Cheese
- Gouda Cheese
By Distribution Channel
- Online
- Offline
- Hypermarkets
- Convenience Stores
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Venezuela
- Ecuador
- Peru
- Europe
- Austria
- UK
- Germany
- France
- Czech Republic
- Bulgaria
- Spain
- Finland
- Denmark
- Netherlands
- Italy
- Sweden
- Switzerland
- Belgium
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Turkey
- Morocco
- Egypt
- Asia Pacific
- Japan
- China
- India
- Malaysia
- Singapore
- Indonesia
- Vietnam
- Australia
- South Korea
For more information about this report visit https://www.researchandmarkets.com/r/2mkqrk
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