Top Driving Factors of Cheese Market
The cheese market size was valued at US$ 88.7 billion in 2021 and is projected to reach US$ 105.9 billion at a CAGR of 3.6% from 2021 to 2026.
The global cheese market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. The demand for convenience food and fast food is driving the growth of cheese powder, and the rising demand from developing regions is likely to continue to boost its demand in the near future.
Various forms of cheese products and longer shelf life to augment the demand for cheese products
The market for cheese products is witnessing progressive growth due to a number of factors. The use of assorted cheese types in various food products in the form of slices, blocks, shredded, and grated forms is driving the market growth. The rapid evolution of the foodservice and food manufacturing sectors is generating a positive outlook for the market in the coming years. The sales of cheese products through the retail channel have witnessed a spike, as an increasing number of households are adopting cheese-based cuisines and recipes in their diets. The availability of cheese products in a variety of formats further promotes market growth. The products are available in wedged, cut, shaved, shredded, cubed, or grated forms. Furthermore, the growing popularity of premium cheese varieties, such as artisan and aged cheeses, is also expected to accelerate the growth.
The cheese products segment has been further categorized into solid and semi-liquid types. Solid types of cheese include slices, blocks, shredded, and grated cheese, while semi-liquid types include cream cheese products.
Europe is projected to reach USD 44.82 billion during the forecast period.
In 2020, Europe accounted for a market share of 43.7% in the global cheese market. The European cheese market is led by the Germany market. Germany is engaged in the production of most of the types of cheeses, including hard cheese, semi-hard cheese, semi-soft cheese, soft cheese, and fresh cheese. The high volume of cheese production and consumption can be attributed to the varied applications of cheese in ready meals, dips, dressings, and bakery products, which constitute a major chunk of German food.
The key players in the European market include Glanbia (Ireland), Dalter Alimentari Spa (Italy), Savencia SA (France), and FrieslandCampina (Netherlands).
