Global Cheese Market: Snapshot
The global cheese market is envisaged to witness a sizable rise, due to its popularity on account of its nutritive value, taste, and various gourmet applications. Cheese, due to its texture and aging properties, is witnessing rising demand across the world. On account of factors such as the increased consumption of processed food, the trend of eating out, urbanization, and the rising disposable incomes, the worldwide cheese industry is set to witness considerable growth. Being used in cooking on a wide basis, cheese is expected to be used even more frequently due to the increased number of fast food consumption and changes in eating patterns all over the world.
The various distribution channels are expected to provide an impetus to the cheese industry, due to the growing popularity of online grocery shopping and purchasing through supermarkets instead of local vendors. The increasing middle and high classes in the society, along with greater purchasing power, and desire to spend lavishly by eating out, are some factors that are expected to shape the market opportunities. Market participants are expected to utilize these trends to their benefits and make their presence felt in the market.
The worldwide cheese market is predicted to reach an estimated value of US$105.13 bn by the year 2019, the end of the forecast period, and is expected to exhibit a vigorous CAGR.
Unprocessed Cheese Witnesses Higher Demand on Account of Taste and Texture
The international cheese market can be segmented into processed and unprocessed, on the basis of product type. The demand for processed cheese is rising in developing economies, such as India and China, on account of changing lifestyle and the tendency to eat more frequently. Being recently introduced to cheese and its variations, unprocessed cheese and its flavor is not expected to find favor in these geographies. In terms of market share, unprocessed cheese segment is predicted to rise at a slower pace. However, cheese has been in use in developed regions for a longer duration, and the taste and texture of unprocessed cheese is gaining popularity over its processed counterpart. Developed countries such as the U.S., UK, Germany and Canada are projected to foresee a higher demand in unprocessed cheese.
On the basis of distribution channels, the cheese market is segmented as convenience stores, hyper/supermarkets, and grocery stores. Among these, the hyper/supermarket segment is foretold to hold the dominant market share, on account of developing countries aiding to their growth. The rising disposable incomes makes it possible for the hypermarket/supermarket segment to hold a substantial market share.
On account of the changing food trends all over the world, and the rising number of people eating out of necessity or fashion, the global cheese market is prognosticated to rise steadily. With cheese being consumed on a regular basis in countries like the U.S., UK, Canada, Germany, where its demand will rarely reduce, it is also expected witness requirements in developing parts of the world as well. Advances in food and beverages industry, consumption of processed food, and busy lifestyles are expected to be the key factors contributing to market growth. The industry is anticipated to be hindered due to health concerns and cheese being perishable. However, the market is predicted to overcome these shortcomings on account of the high demand and other driving factors mentioned here.
Europe to Lead Cheese Market on Account of Regular Consumption
On the basis of geography, the international cheese market may be divided into Asia Pacific, Europe, North America, and Rest of the World. Among these, Europe, on account to inclusion of cheese in regular diet, holds maximum share of the market. Heavy reliance on the fast food restaurants and quick-service, hustling lifestyle, and popularity of its taste are projected to be the forces behind achieving top market position. European countries are also known to export cheese to different regions, along with producing it.
Developing regions of Asia Pacific are expected to showcase exponential rise in the cheese market. It is predicted to be the on the fastest growing regions in terms of market revenue. The region is foretold to witness high demand for process cheese on account of developing countries such as Japan, India and China.
Alra Fods Inc., Fonterra Co-Operative Group Ltd., Almarai Company Ltd., Mondelez International Group, and GCMMF-Amul are expected to be among some of the leading names in the global cheese market.
Global Cheese Market: Overview
A majority of cuisines today use cheese to make food rich as well as to enhance its nutritional value. Owing to this reason alone, the demand for cheese has witnessed a spike. There has been a considerable rise in the demand and consumption of cheese as the global economy is stabilizing, giving the developing nations a high purchasing power. The global market is also expected to thrive due to product innovations, diversification, and rising health concerns that are expected to create a demand for organic dairy products.
The researchers have thoroughly studied the global cheese market to provide the readers a granular view of the market dynamics governing the overall market. The report includes a SWOT analysis, which highlights the strengths, weaknesses, opportunities, and threats impacting the segments of the global market. For an in-depth understanding of the competitive landscape of the global market, researchers have used Porter’s five forces analysis. This market measurement tool sheds light on the bargaining power of suppliers and buyers, it estimates the threat of new entrants, and explains the intensity of competition in the overall market.
Global Cheese Market: Trends and Opportunities
According to the research report, the global cheese market is expected to reach a value of US$105.13 bn by 2019 as compared to US$79.57 bn in 2012. Analysts predict that the global market will progress at a CAGR of 4.40% between 2013 and 2019. The steady growth of the global market will be attributable to the unstoppable pace of the fast food industry. The emergence quick-service and fast-food industry, which caters to the changing eating habits of people, augurs well for the growth of the global cheese market.
Changing lifestyles and preference for convenience over convention with regards to meals has shaped the fast food industry and augmented the demand for cheese. Thus, a burgeoning demand for food items such as pizzas, burgers, and sandwiches has collectively led to a significant growth of the global cheese market in recent years.
Global Cheese Market: Region-wise Outlook
Geographically, the global cheese market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, the Europe held a dominant share of 38.8% in the global market in 2012 due to high consumption of various types of cheeses. The region witnessed a high demand for unprocessed cheese due to rising health concerns amongst consumers. Furthermore, the unprocessed cheese also offers a better taste, which is a significant factor propelling its demand in the region. Analysts predict North America will follow Europe’s lead as the region witnesses usage of cheese in staple diet. A strong presence of players in the region is also anticipated to play a major role in defining the success of cheese market in North America.
Analysts predict that Asia Pacific will be an emerging cheese market in the coming few years. The developing economies of China and India are expected to make a significant contribution to the rising revenue of the overall market. Improved disposable incomes, enhanced purchasing power, and the introduction of foreign cuisines in the region due to rapid globalization some of the factors strengthening the case of the cheese market in Asia Pacific. The market in this region is also benefitting from the high volume of milk produced in regions such as India and Australia.
Key Players Mentioned in the Repor
Some of the leading players operating in the global cheese market are Fonterra Co-operative Group Ltd., Mondelez International Group (earlier Kraft), Alra Foods Inc., Bongrain S.A., Fromageries Bel S.A., Saputo Inc, Almarai Company Ltd, and GCMMF- Amul amongst others.
Major geographies analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World (RoW)
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments