Cheese Market

According to Stratistics MRC, the Global Cheese Market is accounted for $98.91 billion in 2023 and is expected to reach $144.84 billion by 2030 growing at a CAGR of 5.6% during the forecast period. Cheese is a delicious delicacy made from milk that is both very healthy and appealing. It comes in more than 2000 different types now and has a variety of textures, flavors, and scents. The raw material, such as the kind and breed of milk-producing animals, grazing, and climatic elements taken into account during the manufacture of cheese, determines the distinction between texture and flavour. It appears that cheese might have some benefit with strokes and weight changes, specifically when replacing red meat in the diet. It is said that dietary patterns associated with cheese intake can make a difference.

According to Statistics Canada, processed cheese available for consumption per person in Canada was approximately 1.92 kilograms which was higher than that of the previous year, i.e., 1.89 kilograms in the year 2020.



Market Dynamics:

Driver:

Rising demand for processed cheese

Due to advantages like the extended shelf life of the product, the alluring flavour profile, and the versatility it offers at a much more affordable price point than other types of cheese on the market, the demand for using processed cheese, such as Cheddar, Parmesan, and Romano, has increased in recent years. Processed cheese is employed in regional cuisines in addition to its frequent use in fast food items because of its distinctive taste character. Additionally, the market demand for processed cheese has increased due to the growth of private labels in emerging nations and the popularity of western cuisine. Moreover, with more people using the Internet, the worldwide online market for food purchases, including cheese, has grown quickly.

Restraint:

Extremely high fat content in cheese

Among the other variables that are limiting development prospects in the global cheese industry, the increased fat content that is present in cheese is perhaps one to highlight. Due to its detrimental impact on their health, cheese intake is restricted among the population that suffers from obesity as a result of its greater fat content. Cheese eating in excess can have detrimental consequences on human health, including elevated cholesterol levels and cardiac arrests. Growing consumer knowledge of the negative consequences of the rise in cheese consumption in recent years is also anticipated to limit chances for revenue development in the worldwide market.

Opportunity:

Rising impact of western foods

The cheese industry is driven by the growing influence of western meals, increased disposable income, and the availability of numerous improved cheese products including pepper, garlic, red bean stew drops, and oregano pickles. Although cheese is a common food in Western countries like the US and Europe, its adaptability allows it to cater to the diverse tastes and inclinations of consumers worldwide. In Western cuisine, a wide variety of cheese and other products made from matured milk are used. The market is also being driven by a dramatic increase in consumer demand in packaged meals that include cheese and increased interest from the food handling sector. In 2020, imports provided more than 40% of the total cheese consumed in Asian countries. The expansion of the Asian cheese industry will be fuelled by the burgeoning interest in Asian countries and their rapid urbanization.

Threat:

Influence of governance

The strict regulatory laws governing cheese are expected to make it difficult for the industry to expand. Due to growing health concerns, there is a growing need for precise labeling that includes a complete list of all the product's contents as well as information about each ingredient's nutritional value. These details are crucial for food items that contain a variety of additives, like cheese, which is made by mixing numerous substances including whey, caseinate, and maltodextrin. Following these labelling requirements could raise the expense of packing and labelling, which therefore has an impact on the end product's cost. This results in low customer acceptability, which presents a problem for the cheese business.

Covid-19 Impact

The pandemic had a variety of effects for manufacturers in exporting, importing, and self-sufficient nations. The shock caused an oversupply of milk in the majority of exporting nations, including New Zealand, Germany, the United States, and others. As a result, producers' prices fell, which was quite substantial in certain instances. In importing nations, the impact was mostly associated with the market channel that manufacturers utilized. Additionally, it was difficult for premium speciality cheese producers to remain competitive in the market. Specialized cheese production and sales decreased as a result of the shutdown of HoReCa industries, and during the pandemic, consumers were unwilling to pay a premium for specialized goods.

The processed segment is expected to be the largest during the forecast period

The processed segment is estimated to have a lucrative growth, because the emerging Asia Pacific, South American, and Middle East & Africa regions, processed cheese has been widely embraced. The widespread use of processed form may be due to its many technical benefits, including consistent size and shape, a long shelf life, and resistance to separation when cooked. From a supply standpoint, processed form may be produced more quickly than natural form since it has a cheaper cost of manufacturing and deliver which is driving the growth of the market.

The plant-based segment is expected to have the highest CAGR during the forecast period

The plant-based segment is anticipated to witness the highest CAGR growth during the forecast period, due to the adoption of new eating habits, such as veganism and flexitarianism, the plant-based category is also expanding its presence in the worldwide market. Almond cheese is one of the most popular types with customers. Consumers are being compelled to purchase cruelty-free, ecologically friendly items as a result of the growing awareness about how animal farms contribute to global warming and animal suffering, which is boosting the segment's expansion.

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to rising disposable income and local company growth, the North American area is the one that is expanding at the quickest rate in the market. The popularity of several cuisines that contain cheese, such as pizzas, burgers, spaghetti, and others, as well as the increasing government assistance, are also contributing to the success of the North American cheese business. Additionally, Quality Cheese used cow, goat, and buffalo milk to create well-known Italian speciality cheeses and cheese products for the North American market. The business added additional manufacturing lines, cheese-cutting, conditioning, ripening, and packaging and storage machinery to suit the growing customer demand for its goods.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the past several years, dairy industry producers and exporters have had a ton of chances in the vast and diverse area of Asia Pacific. The market employs fundamental tactics that guarantee product functionality, food safety, and quality in order to take advantage of the majority of chances. The market for useful items with "natural claims" and other health-improving features, such non-GMO or probiotic-enriched products, is expanding quickly. Additionally, developing nations like India, Japan, Singapore, and China are becoming more aware of various product categories as a result of the expanding quantity of new and creative items.



Key players in the market

Some of the key players profiled in the Cheese Market include The Kraft Heinz Company, Associated Milk Producers Inc., Almarai Company, Bletsoe Cheese, The Bel Group, Britannia Industries Limited, GCMMF (Amul), Fonterra Co-operative Group Limited, Savencia Fromage & Dairy, Land O'Lakes, Inc., Arla Foods amba, Saputo Inc, Wensleydale Creamery, Dairy Farmers of America, Inc, Norseland Ltd, Lactalis Ingredients and Koninklijke FrieslandCampina N.V.

Key Developments:

In July 2023, HEINZ® launches movement against mistreatment of hot dogs; rallies for justice at world’s largest hot dog eating contest. The first losing finalist who eats a hot dog the right way with love, admiration, and of course, HEINZ condiments will win $10,000, matching the Hot Dog Eating Contest’s prize money.

In October 2021, Lactalis Group acquired the European cheese brand Leerdammer for USD 533.745 million. Through this acquisition, Lactalis gained access to the Dutch market. The acquisition also enabled Lactalis Group to establish itself at the industrial level in the Netherlands and boosted its activity in Germany, Ukraine, and Italy

In September 2021, Lactalis Canada launched two direct-to-consumer e-commerce platforms, Cheeseworld.ca and DairyMarketCulinary.ca. Cheeseworld.ca is an online specialty cheese store offering a wide array of heritage cheese. Consumers receive a specialty cheese shop experience combined with the convenience of online shopping and home delivery.

Product Types Covered:
• American Cheese
• Blue Cheese
• Cheddar
• Mozzarella
• Parmesan
• Roquefort
• Feta
• Other Product Types

Types Covered:
• Processed
• Natural

Sources Covered:
• Plant-Based
• Animal-Based

Forms Covered:
• Spreadable
• Block
• Other Forms

Distribution Channels Covered:
• Hypermarkets
• Supermarkets
• Food Manufacturers
• Food Services
• Food Specialty Stores
• Convenience Stores
• Other Distribution Channels

Applications Covered:
• Sweet & Savory Snacks
• Snacks & Cereals
• Bakery & Confectionery
• Ready Meals
• Sauces, Dressings, Dips, and Condiments
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances