Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global cheese market was worth US$ 61.9 Billion in 2018. The market is further projected to reach US$ 99.4 Billion by 2024, growing at a CAGR of 8.4% during the period 2019-2024. Cheese refers to a dairy product which is produced in a wide range of flavours, textures and forms by coagulating the milk protein casein, usually derived from the milk of cows, buffalo, goat or sheep. Cheese has been valued for ages due to its portability and longer shelf- life. Apart from this, it is a good source of nutrients, such as calcium which is vital for building strong bones and certain high-quality proteins that provide essential building blocks for strong muscles. In addition to this, it contains other important nutrients like phosphorous, zinc, vitamin A and vitamin B12. As a large variety of cheese is produced in the different parts of the globe, its texture and flavour mainly rely on the origin of the milk, whether it is aged, pasteurized or processed.
Global Cheese Market Drivers:
Fast food chains represent one of the major consumers of cheese worldwide and due to the increasing urbanisation and rising disposable incomes across the globe, the fast food industry is growing at a healthy rate. The high growth of the fast food industry is expected to result in an increased consumption of cheese in the near future.
Emerging markets like China and India are anticipated to drive the global cheese market in the coming years. Earlier, the consumption of cheese was largely confined to western countries, however, with the increasing trend of westernisation of food consumption patterns along with growing economy, rise in middle class population and increasing urbanisation, the consumption of cheese in these markets are expected to grow.
The growth of the organised retail sector is positively impacting the global cheese market. Until a few years ago, a number of global players were hesitant to sell their products in developing countries due to the fear of spoilage and lack of infrastructure, storage facilities and appropriate knowledge about the developing market. Nevertheless, with an increase in the number of organised retail stores, many players are investing in the markets like India and China.
With an increase in the marketing initiatives taken by a number of players through various advertising mediums, such as newspaper, television, etc., the product awareness amongst the population in a number of new markets is augmenting.
Breakup by Source:
On the basis of source, the global cheese market is segregated as cow milk, buffalo milk, goat milk and others.
Breakup by Type:
Based on type, the market is segmented into natural and processed. Currently, naturally produced cheese is preferred over the processed formulation on account of increasing health awareness amongst the consumers.
Breakup by Product:
On the basis of product, the global cheese market is divided as mozzarella, cheddar, feta, parmesan, roquefort and others. It is commonly used in pizzas, lasagne as well as pasta and enjoyed by people across the globe owing to its taste and healthy nutrients.
Breakup by Format:
Based on format, the market is classified into slices, diced/cubes, shredded, blocks, spreads, liquid and others. Different formats of cheese are employed in the preparation of numerous food products like sandwich, wrap, pizza, etc.
Breakup by Distribution Channel:
On the basis of distribution channel, supermarkets and hypermarkets represent the biggest segment as they offer convenience to the consumers. They are followed by convenience stores, specialty stores, online stores and others.
On a geographical front, the European Union enjoys a leading position in the global cheese market due to its high demand in the region. In comparison with fluid milk, cheese is regarded as the second most preferred dairy product in the European Union. It is followed by North America, Latin America, Europe (excl.European Union), Oceania and Asia.
The market is fragmented in nature with the presence of several large and regional manufacturers who are competing in terms of prices and quality. In the recent years, the industry has been witnessing innumerable expansions via merging and acquisitions which are taking place amongst regional players across the globe. There prevails a tough competition in the market which makes it difficult for small players to enter. Some of the major players operating in the market are:
Dairy Farmers of America
This report provides a deep insight into the global cheese industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cheese manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cheese industry in any manner.
Key Questions Answered in This Report:
How has the global cheese market performed so far and how will it perform in the coming years?
What are the key regional markets in the global cheese market?
What are the key raw material types in the global cheese market?
What are the key product segments in the global cheese market?
What are the major format types in the global cheese market?
What are the key product types in the global cheese market?
What are the major distribution channels in the global cheese market?
What are the price trends of cheese?
What are the various stages in the value chain of the global cheese industry?
What are the key driving factors and challenges in the global cheese industry?
What is the structure of the global cheese industry and who are the key players?
What is the degree of competition in the global cheese industry?
What are the profit margins in the global cheese industry?
What are the key requirements for setting up a cheese manufacturing plant?
How is cheese manufactured?
What are the various unit operations involved in a cheese manufacturing plant?
What is the total size of land required for setting up a cheese manufacturing plant?
What are the machinery requirements for setting up a cheese manufacturing plant?
What are the raw material requirements for setting up a cheese manufacturing plant?
What are the packaging requirements for cheese?
What are the transportation requirements for cheese?
What are the utility requirements for setting up a cheese manufacturing plant?
What are the manpower requirements for setting up a cheese manufacturing plant?
What are the infrastructure costs for setting up a cheese manufacturing plant?
What are the capital costs for setting up a cheese manufacturing plant?
What are the operating costs for setting up a cheese manufacturing plant?
What will be the income and expenditures for a cheese manufacturing plant?
What is the time required to break-even?
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