The global cheese market is projected to grow at a CAGR of 3.73% to reach US$143.040 billion by 2025 from US$114.824 billion in 2019.
The health benefits associated with cheese and its application in a variety of food items are making it popular and it is consumed by the children also
There are a lot of health benefits associated with the consumption of cheese which is pushing the consumers towards using it in their everyday meals. Some of the beneficial contents in cheese include iron, calcium, fats and others. In addition, some types of cheese have very little dairy content and can be consumed by the lactose intolerant individuals. Moreover, cheese is treasured mostly by the younger generation as they like eating snacks such as grilled cheese among others. These factors are leading a rise in demand of dairy products such as cheese and is bolstering the market growth.
Product Offerings by Major Market Players in the cheese market
The offering of better and advanced varieties of specialty and normal cheese with enhanced flavors and textures among other properties by existing and new players in different markets is estimated to lead to a rise in the consumption and augment the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
The popularity of consuming natural cheese is rising among the population and has been triggered by the changing opinion of consuming processed cheese due to its unhealthy and possibly harmful contents.
Processed Cheese contains a lot of additives, so it takes away the benefits the natural cheese contains. Processed Cheese has high quantities of fats, calories, and salt present, which are some of the leading factors that lead to diseases such as obesity, and hypertension. In addition, there is a presence of food colorings in the cheese to make more appealing to the consumers and emulsifiers are present to thicken the cheese. However, longer shelf life may push the consumer towards consuming processed cheese, but the rising health consciousness weighs in greatly and encourages individuals to switch to natural cheese.
Cheese sourced from cow milk is consumed more as compared to the cheese that sourced from other types of milk.
There are different types of milk such as cow milk, buffalo milk, gat milk and sheep milk that are used to prepare different types of cheese globally. However, the cheese that is produced by making the use of cow milk is consumed more and also preferred more among the consumers owing to the fact that cow milk is relatively higher than in fat content than others and contains about 3.25% of fat, thus it is an ideal option. In addition, even the most famous and globally well-known cheese are also produced using cow milk such as Muenster, Swiss, Parmesan, and Gouda among others.
The European region is estimated to hold a significant share over the forecast period owing to the increasing workload of the individuals in countries such as the UK among others. The Asia Pacific region is estimated to increase its market share over the forecast period owing to the presence of many players offering diverse products in the market and investments being made to develop the food and beverage sector.
The European region is estimated to hold a significant share over the forecast period, owing to the rising disposable income of the individuals in the countries such as Switzerland, France, Italy, UK among other countries. This is allowing them to spend more in quality and premium dairy products such as artisan and specialty cheese thus, boosting the demand in these regions. Moreover, there are Cheese Fondue events held in the 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 owing to the fact that there are new players coming up in the market offering different types of cheese such as Mozzarella, and Cheddar among others. There are investments being made to improve the standing of the food and beverage industry in the countries such as India. Moreover, the spread of the western culture in different countries has made fast food popular, which makes the use of cheese to a good extent.