The cheese market is projected to increase at a compound annual growth rate (CAGR) of 4.61% from its 2023 valuation of USD 187.42 billion to USD 287.12 billion by 2032, from USD 191.94 billion in 2024.
Cheese’s widespread availability, adaptability, and the rising appeal of ethnic cuisines like Mexican and Italian, which heavily use cheese, are all factors contributing to the rising demand for cheese. The two most widely consumed varieties are mozzarella and cheddar.
This data is from the Fortune Business InsightsTM study report “Cheese Market, 2024-2032.”
Information Source: https://www.fortunebusinessinsights.com/cheese-market-104293
List of Key Players Mentioned in the Report:
- The Kraft Heinz Company (U.S.)
- Fonterra Co-operative Group Limited (New Zealand)
- Arla Foods amba (Arla Foods Group) (Germany)
- FrieslandCampina (Netherlands)
- Saputo Inc. (Canada)
- Lactalis Ingredients (France)
- Wensleydale Creamery (U.K.)
- Dairy Farmers of America, Inc. (U.S.)
- SAVENCIA SA (France)
- Norseland Ltd (Tine Group) (U.K.)
Segments:
Long Shelf Life and Rising Demand for Natural Cheese to Propel Market Growth
Market Segmentation by Type: There are two parts of the cheese market: processed cheese and natural cheese. Consumer preferences are shifting toward natural cheese as artisan producers place a greater emphasis on the use of herbs, flavors, fruits, spices, and nuts. In the meantime, processed cheese is still quite popular, especially in developing nations like the Middle East and Africa, Asia Pacific, and South America.
Market Segmentation by Source: The market for cheese is further separated into sections depending on plants and animals. While the animal-based category contains cheese made from cattle, camels, sheep, and goats, the plant-based category offers alternatives like cashew, soy, almond, and more. Because of its attractive packaging and long shelf life, the market is expected to be dominated by the animal-based cheese segment. Nonetheless, it is anticipated that the plant-based market would rise significantly due to the growing number of possibilities.
Product Type Insights: In terms of product categories, the market includes mozzarella, parmesan, cheddar, feta, and other types. The type of milk used and the production methods have a significant impact on the flavor and texture of cheese. Because mozzarella is used so widely in well-known recipes like pizza, pasta, risotto, and enchiladas, it is anticipated to hold the biggest market share.
Form-Based Market Trends: Cheese comes in a variety of forms, such as block and spreadable. Block cheese has a significant market share because of its high nutritional content and prolonged ripening time. There are two types of this form: soft and firm. Furthermore, spreadable cheese is becoming more popular due to its ease of use in sandwiches, pastries, and snacks.
Distribution Channel Analysis: Supermarkets/hypermarkets, convenience stores, specialty shops, and internet retail are the distribution channels for the cheese market. Supermarkets and hypermarkets dominate the distribution sector since they have a wide selection of goods and frequently give away free samples to draw clients.
In order to demonstrate the dynamic growth potential that exist in different geographic locations, the worldwide cheese market is analyzed across a number of regions, including Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Increasing Demand for Plant-based Cheese to Drive the Market Growth
Due to the growing trend of veganism and the growing desire for plant-based cuisine, plant-based cheese—made from cashew, soy, almond, and other non-dairy sources—is becoming increasingly popular. The development of plant-based product choices and increased demand for vegan options are expected to significantly propel cheese market growth over the course of the projected year.
However, health issues related to casein, a protein found in dairy cheese, could pose problems for the business. Skin rashes, headaches, inflammation, and acne are just a few of the problems that can result from casein allergies and may prevent the market from growing.
Regional Insights:
Increasing Investments and Partnerships to Propel Market Growth in Europe
European consumers are becoming more interested in organic and non-GMO products as they prioritize healthier food options to improve their well-being. Customers are looking for solutions that fit with their health-conscious lifestyles, which is having a beneficial impact on the cheese sector in the area.
The need for convenient and nutrient-dense food products is driving market expansion in North America. With millennials’ changing snacking and dessert preferences fueling an increase in cheese consumption, this region stands out as a significant market. Cheese is becoming a staple in their diets as this group looks for quick and filling solutions, which is fueling industry growth.
Competitive Landscape:
Launching of New Products by Key Players to Stay Competitive in the Market
With a heavy emphasis on the introduction of new products, major industry players are using a variety of competitive tactics to foster business prospects. These tactics seek to increase the reach of products, widen distribution networks, and encourage general market expansion and diversification. Businesses can improve their market position and spur further expansion in the cheese industry by launching novel goods that draw in new clients and adjust to changing consumer tastes.
Key Industry Development:
- September 2021: Lactalis Canada introduced two direct-to-consumer platforms, DairyMarketCulinary.ca. and Cheeseworld.ca for cheese and dairy.