Cheese Market Overview

The Global Cheese Market is expected to exhibit a CAGR of 3.9% over the forecast period from 2017 to 2023, rising to a volume of 29,398.75 kilotons, according to the latest research report from Market Research Future (MRFR).

Europe will continue to dominate the Cheese Market with more than 55% market share, and it is projected to reach more than 15,000 kilo tons with CAGR of 4.63% by 2023. North America will witness a high growth rate (~3.27%) during forecast period 2017 to 2023. Availability of various cheese varieties across the regions has increased the popularity and consumption of cheese among the consumers. Developing economy and increased disposable income is playing a key role in the market growth of cheese in Europe from last few years.

Whole cow milk will witness a growth rate (~4.37%). By 2023, whole cow milk sourced cheese will reach a market volume of more than 19,000 kilo tons on a global level. High inclination of consumer’s towards cow milk sourced cheese is found to be having a positive impact in its market share growth. The rich taste of cheese sourced form cow milk is also influencing its positive growth rate in global cheese market.

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Key Players

The leading market players in the global Cheese Market primarily are Land O'Lakes, Inc. (U.S.), Kerry Group Plc (Ireland), Lactosan A/S (Denmark), Arla Foods (Denmark), Aarkay Food Products Ltd (India), Dairiconcepts, L.P. (U.S.), Kanegrade Limited (U.K.), The Kraft Heinz Co. (U.S.), FrieslandCampina (Netherlands), Dairy Farmers of America Inc. (U.S.)

Segmentation:

The global Cheese Market is segmented based on source, type, product type, application, and region.

By source, the global Cheese Market is segmented into whole cow milk, skimmed cow milk, goat milk, sheep milk, buffalo milk, and others. Whole cow milk is likely to remain the major revenue generator over the forecast period, holding a market share of more than 65%, due to the wide range of cheeses that can be prepared with whole cow milk and the popularity of whole cow milk cheeses such as mozzarella.

By type, the global Cheese Market is segmented into fresh, aged fresh, soft white, semi-soft, hard, flavored, and others. Fresh cheese is the leading revenue generator for the global cheese market and is expected to grow at a CAGR of more than 5% by 2023. The fresh cheese segment accounted for around 20% of the global cheese market in 2017.

By product type, the global Cheese Market is segmented into Cheddar, mozzarella, Parmesan, American, blue, and others. Cheddar cheese is likely to hold the lion’s share in the global cheese market, growing at a CAGR of 5.40% over the forecast period.

Regional Analysis:

Asia Pacific is also likely to emerge as a major market for cheese in the coming years, as consumers in the region are becoming more aware of cheese, the various types of cheese, and the various dietary applications of various cheeses. The increasing availability of various types of cheese in Asia Pacific countries such as India, China, the Philippines, Indonesia, Australia, Japan, and South Korea is likely to be a major driver for the cheese market in Asia Pacific. Retail distribution channels for cheese have expanded in Asia Pacific in recent years, leading to higher product visibility and awareness. In addition, the increasing demand for home cooking Western foods such as pizza and pasta is likely to lead to a growing demand from the cheese market in Asia Pacific.

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