Market Forecast and Analysis:
The global market for Cheese has witnessed continued demand during the last few years and is projected to reach 29,398.75 kilo tons by 2022, at a CAGR of 3.90% by 2022. Increase in demand of cheese based snacks across various countries is likely to drive the global cheese market backed up by shifting consumption pattern and increased demand for fast food snacks and bakery products.
Fresh cheese will witness the higher growth rate (~5.01%). By 2022, fresh cheese among the various cheese types is projected to grow the most due to its high consumer’s preference and increased demand from cheese processing manufacturers. Hard cheese share will also witness a steady growth and will contribute to the second largest market volume after fresh cheese. The application of fresh cheese in not only in food industries but also in household food preparations is likely to contribute to the market share of fresh cheese majorly in the Europe region. The consumption of fresh cheese as an alcohol accompaniment and also as cheese dips are also evaluated to hold a significant share in Europe and North America.
Key Findings in Report:
The Global Cheese market is projected to reach 29,398.75 kilo tons by 2023 of 3.90%
- Whole cow milk will continue to dominate the cheese source segment with more than 65% market share
- Fresh cheese will continue to dominate the cheese market with more than 20% market share and it is projected to grow at a CAGR of 5.01% by 2023
- Cheddar cheese will dominate the cheese product-types holding a lion’s share in the cheese market and growing at a rate of 5.40%
- Application of cheese in fast food snacks will hold a major share and will witness a growth rate of 4.73%
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Key Players Profiles and Competitive Analysis:
The major key players in Cheese market 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.)
Key players are focused majorly on expansion of their cheese market and it accounts for more than 30% of the overall strategy share by key players from last few years. Acquisition, mergers and partnerships are the main factors which are contributing to more than 50% of strategy share and are facilitating companies to penetrate the potential market across globe.
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Market Research Insights:
Cheese is derived from the processing of curd which is further ripened to give peculiar texture, flavor and aroma to the end product. The production of cheese involves enzymatic and acid activities. The ageing of cheese gives the desired final product. Cheese is derived from various milk sources including cow, buffalo, sheep and goat. There are numerous varieties of cheese produced globally. Some of the popular and commonly consumed variety includes mozzarella, cheddar, feta, blue cheese and others. Based on the processing techniques and ageing period, the cheese varieties are segregated. Cheese is considered a rich source of calcium, protein, phosphorus, sodium and saturated fat. The popularity of cheese is based on its multipurpose applications across food industries.
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