PUBLISHER: The Business Research Company | PRODUCT CODE: 1387546
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387546
“Cheese Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cheese market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cheese? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cheese market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Cheese is a food product produced from the ripened curd of milk, separated from the whey.
The primary categories of cheese consist of natural cheese and processed cheese. Natural cheese encompasses cheese varieties made from milk to which salt, enzymes, and flavorings have been added. These products include mozzarella, cheddar, feta, parmesan, Roquefort, and others, sourced from various types of milk, such as cow milk, sheep milk, goat milk, and buffalo milk. Distribution of cheese occurs through multiple channels, including supermarkets, hypermarkets, convenience stores, e-commerce, and others.
The cheese research report is one of a series of new reports from The Business Research Company that provides cheese statistics, including global market size, regional shares, competitors with cheese shares, detailed cheese segments, market trends and opportunities, and any further data you may need to thrive in the cheese industry. This cheese research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cheese market size has grown strongly in recent years. It will grow from $274.36 billion in 2023 to $296.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to factors such as dairy farming, culinary traditions, global cheese production, global export and trade, marketing and branding.
The cheese market size is expected to see strong growth in the next few years. It will grow to $402.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to factors such as health-conscious consumer preferences, sustainability and ethical cheese production, artisan and specialty cheeses, digital marketing and e-commerce, and global market expansion. Major trends in the forecast period include plant-based and vegan cheeses, aged and artisan cheese, cheese pairing and tasting events, clean label and natural cheeses, cheese boards and charcuterie.
The increasing demand for local, sustainable, and organic food production is expected to have a positive impact on the cheese manufacturing market during the forecast period. Organic food production, which includes organic dairy products, places a strong emphasis on consumer health, environmental protection, and animal welfare. Consumers are becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognize as healthy. In Europe, there is a high import rate, especially for fruits and vegetables, as the rate of organic production is far lower than the consumer demand for organic produce. For instance, the Organic Trade Organization, a US-based trade association representing over 9,500 organic enterprises, reported in June 2022 that organic sales increased by 2% between 2020 and 2021, reaching over $63 billion. Additionally, sales of organic dairy products and eggs remained stable through 2021 but still outperformed 2019 sales by approximately 11%. This growing demand for organic products, including cheese, offers significant opportunities for dairy product producers in both developed and developing countries, which is likely to drive the cheese manufacturing industry market during the forecast period.
The increasing demand for fast foods is expected to drive the growth of the cheese market in the future. Fast food refers to food that is prepared and served quickly, typically in restaurants and eateries specializing in providing quick service. Fast foods contribute to the growth of the cheese market because they often use cheese as a key ingredient or topping in various menu items to enhance flavor, texture, and appeal to consumers. For instance, in 2023, according to Budget Branders, a US-based food and beverage company, an estimated $200 billion was spent on fast food in the US, and this figure is expected to increase to $931.7 billion by 2027. Moreover, 50 million Americans consume fast food daily. Therefore, the increasing demand for fast foods is a driving force behind the growth of the cheese market.
The outbreak of COVID-19 disease (COVID-19) significantly restrained the cheese manufacturing market in 2020. This restraint was due to disruptions in supply chains resulting from trade restrictions and a decline in consumption caused by lockdowns imposed by governments worldwide. COVID-19 is an infectious disease characterized by flu-like symptoms, including fever, cough, and difficulty breathing. The virus was initially identified in Wuhan, Hubei province, China, in 2019 and subsequently spread globally, affecting regions such as Western Europe, North America, and Asia. The food and beverage manufacturing industry relies on a stable supply of raw materials from both domestic and international sources. Many governments-imposed restrictions on the movement of goods, creating challenges for manufacturers who had to halt production due to raw material shortages. Additionally, trade restrictions on non-essential goods and concerns about contamination in manufacturing facilities contributed to the market's decline. However, it is expected that the cheese manufacturing market will recover from this setback over the forecast period. This decline is viewed as a 'black swan' event and is not indicative of ongoing or fundamental weaknesses in the market or the global economy.
The application of Internet of Things (IoT) technology is on the rise for tracking dairy products and ensuring safe product handling. IoT technology involves a network of interconnected devices, vehicles, or other items that continuously exchange data and offer insights into a specific process or system. In the context of the dairy industry, IoT technology is used to track the ingredients used in dairy products. It involves connecting equipment in trucks and storage coolers to the internet, allowing for the real-time monitoring of dairy products. This technology enables the tagging of products with environmental conditions such as temperature and location, providing crucial information about the safe handling of dairy products during transportation and storage. As an example, the Chinese government has implemented the National Food Quality Safety Traceability Platform, utilizing IoT technology to enhance the quality and safety of food production supply chains, including dairy products.
Prominent companies in the cheese market are placing their focus on product innovation, exemplified by Land O'Lakes Shredded Cheese, as a strategy to leverage the state's dairy resources, industry expertise, market presence, and logistical advantages. Land O'Lakes Shredded Cheese encompasses a range of pre-shredded cheese products known for their versatility and use of high-quality ingredients. In a noteworthy development from June 2022, Land O'Lakes Inc., an agriculture company based in the United States, introduced the Land O'Lakes Shredded Cheese line, featuring seven distinct products available in the U.S. These cheese products are crafted using milk sourced from Wisconsin farmers and are manufactured at Land O'Lakes' facility in Kiel, Wisconsin. Overall, Land O'Lakes Shredded Cheese stands out as a high-quality, convenient, and adaptable cheese option, catering to consumers seeking both delectable and nutritious cheese choices.
Major companies operating in the cheese market include Groupe Lactalis S.A., Saputo Inc., The Kraft Heinz Company, Fonterra Group Cooperative Limited, Arla Foods amba, Savencia Fromage & Dairy, Frieslandcampina, Alfa SA.B. de C.V., Agropur cooperative, Land O'Lakes Inc., Dairy Farmers of America Inc., Bel Group, Sargento Foods Inc., Tillamook County Creamery Association, Cabot Creamery, Leprino Foods Company, Emmi Group, Glanbia PLC, Murray's Cheese, Cowgirl Creamery, Cypress Grove Chevre Inc., Darigold Inc., DCI Cheese Company, Gossner Foods, Groupe Bel, Marin French Cheese Co., Kraft Foods Group Inc., Alouette Cheese USA LLC, Organic Valley, Sartori Company, Schreiber Foods Inc., Swiss Valley Farms.
Asia-Pacific was the largest region in the cheese market in 2023. North America was the second-largest region in the cheese market. The regions covered in the cheese market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cheese market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The cheese market consists of sales of mozzarella, cream cheese, cheddar, parmesan, cottage cheese, brie, brick cheese, swiss cheese, spreads, and other cheese. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.