ID: MRFR/F-B & N/1644-CR | May 2017 | Region: Global | 131 pages
The global market for cheese has witnessed continued demand during the last few years and is projected to reach 29,398.75 kilotons by 2023, at a CAGR of 3.90% by 2023. Diverse application of Cheese across the food industries particularly in bakery and fast food manufacturing industries is likely to drive the global Cheese Market.
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 market.
By 2023, Fresh cheese will reach more than 7,000 kilo tons market volume with CAGR of 5.01%. Rising consumer’s preference for fresh cheese due to low contamination issues is influencing its growing market share amongst the other available type of cheese. Fresh cheese meets consumer’s satisfaction of retained nutritional value is driving its market. In addition, wide application and consumption of cheddar cheese will have a positive impact on its market share growth and is evaluated to grow at a CAGR of 5.40% during the given forecast period.
Application of Cheese in fast food snacks will continue to dominate the cheese market application segment with a 25.72% market share. Application in cheese processing will witness a high growth rate (4.40%) during forecast period 2017 to 2023. By 2023, fast food snacks based application of Cheese is projected to grow at a CAGR of 4.73%. Application of cheese as bakery foods will witness significant growth in upcoming years due shifting consumption pattern in various developed countries of the regions.
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.)
Study Objectives of Cheese Market Forecast to 2023
Regional and Country Analysis of Cheese market Development and Demand Forecast to 2023 Market
The reports also cover country level analysis:
Asia – Pacific
Frequently Asked Questions (FAQ) :
Cheese market is projected to grow at a 3.90% CAGR between 2017-2023.
Europe is expected to dominate the cheese market.
Cheese market is predicted to touch 29, 398.75 KT by 2023.
Cheese processing will dominate the cheese market.
Fresh cheese will lead the cheese market.