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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Cheese is a food product that is produced from pressed curds of milk. It is firm, semi-liquid, and elastic in nature. It is a highly nutritious and palatable milk-derived food and is available in a wide range of tastes and flavors. Cheese is highly rich in nutrition such as minerals, proteins, calcium, and other important nutrients.

The global cheese market is estimated to be valued at US$ 223.38 billion in 2028 and is expected to exhibit a CAGR of 7.3 % over the forecast period (2021-2028).

Recent Developments:

  • In October 2021, Granarolo S.P.A, one of the leading exporters of Italian dairy products announced a complete acquisition of Calabro Cheese corp. This acquisition will allow Granarolo to install a strong platform so as to further expand its business in the United States.
  • In September 2021, Belgioioso Cheese added ‘ Polly-O’, a brand of cheese in its product portfolio by acquiring Campbell, a manufacturer of Italian cheese. The acquisition showed desire of belgioioso to provide wider range of cheese products to its customers.
  • In September 2021, Formo, a startup based in Berlin found in 2019, has developed a method of synthesizing plant based animal – free cheese through a process of precision fermentation. Through precision fermentation milk like proteins and caseins ( component of milk) can be produced by fermenting micro-organisms instead of cow milk. The conversion rate through microbes is much higher than the former method , hence cutting down the expenses in production and further reducing market price.

Figure 1. Global Cheese Market Value (US$ Bn), by Region, 2020

Cheese  | Coherent Market Insights

Europe held dominant position in the global cheese market in 2020, accounting for 38% share in terms of revenue, followed by North America and Asia Pacific, respectively. The continuous increase in quick service restaurants, disposable income, prolonged life of cheese combined with increasing population is catalysing cheese market growth in Europe.

Global Cheese Market: Drivers

Growth in household food budget and increasing instance of eating out is creating demand for cheese products. The increasing urban population coupled with the increase in the household food budget due to the rise in the working women force is accelerating the market growth of the cheese. According to the United Nation, in 2018, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. Thus increase in the urban population is propelling the market growth.

Increasing spending on food products by consumers due to increasing purchasing power is projected to drive market growth. According to the Bureau of Labor Statistics, in 2019, Spending on food increased 3.1 percent over this period in the United States, the increase was driven by both food at home, spending, up 4.0 percent, and food away from home spending, up 1.9 percent. Hence, increasing spending on a food product by consumers is augmenting the market growth of cheese.

Global Cheese Market: Opportunities

Expansion of international food chain services such as the Yum group, Dominos, and Subway is expected to bring new market opportunities. These restaurants offer food at an affordable rate and are also introducing innovative food products with cheese for increasing consumer base which is again projected to foster the market growth of the cheese. Moreover, increasing consumption of fast-food in countries such as India and China is again projected to stimulate the market growth of cheese.

The growing demand for spreadable cheese and block cheese is expected to offer immense growth opportunities. For instance, in February 2020, Tillamook’s Farmstyle launched four new spreadable Cream cheese in four flavors made without gums, fillers, or preservatives. original; aged cheddar; seriously strawberry, which is made with real strawberries; and very veggie, featuring bell peppers, carrots, cucumbers, and onions are four flavors. 

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Cheese Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 136.37 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 7.3% 2028 Value Projection: US$ 223.38 Bn
Geographies covered:
  • Region: North America, Europe , Asia Pacific, Rest of World
Segments covered:
  • By Product Type: American, Italian, Hard, Soft, Fresh, Others
Companies covered:

Arla Foods, Inc., Bongrain SA, Fonterra Co-Operative Group Ltd., Fromageries Bel S.A., Mondelez International Group (Kraft), Sargento Foods Inc., GCMMF – AMUL, Almarai Company Ltd., Saputo Inc., Royal FrieslandCampina N.V., Groupe Lactalis S.A, and Emmi

Growth Drivers:
  • Increasing urban population coupled with the increase in the household food budget
  • Increasing spending on food products
Restraints & Challenges:
  • Shorter shelf-life of the cheese product
  • Increasing demand for low-fat healthy food due to growing prevalence of various lifestyle diseases

Market Trends:

The increasing consumption of dairy products is increasing the penetration of new brands in the market. This is expected to be one of the growing trends in the industry. For instance, in October 2019, Wensleydale Dairy Products announced the launch of the new cheese brand "The Yorkshire Creamery" with the launch of new cheese products. The new range includes three cheeses, all available in 320g and 200g pack sizes. Extra Mature Yorkshire Cheddar, Yorkshire Red, and Double Yorkshire.

Partnership and agreements between key manufacturers for business expansion is a growing trend. For instance, in April 2020, Wyke Farms, enter into a partnership with Westland Cheese to increase distribution of cheese across Holland and Germany. As per the partnership, Westland Cheese will support the Wyke Farms to market and sell their cheese products in Holland and Germany.

Figure 2. Global Cheese Market Share, By Product Type, 2020

Cheese  | Coherent Market Insights

Key Takeaways of the Graph:

  • Among Product Type, the Italian Cheese held dominant position in the market and accounted for 41.68% share in the global cheese market in 2020. The segment is expected to reach US$ 95.70 Billion in 2028 with a CAGR of 7.3%.
  • Italian Cheese has one of the most conventional cheese whose existence can be traced back in way back history (2000 years). The diversity and quality in Italian cheese providing tasty variable choices to customers for example; Robiola piemonte, an Italian cheese is produced by processing a mixture of cow’s milk, goat’s milk and sheep’s milk altogether is what storming Italian cheese market. Italian Cheese comes in about 600 different varieties of cheeses.   

Global Cheese Market: Restraints

The shorter shelf-life of the cheese product is projected to hamper market growth. Cheese is a highly perishable product and this becomes the major concern for manufacturers during the supply chain as its perishability makes its shelf-life shorter at a different stage of the supply chain, thereby restricting the market growth of cheese.

Increasing demand for low-fat healthy food due to the growing prevalence of various lifestyle diseases is expected to limit the consumption of cheese. Cheese contains a lot of unsaturated fat which possess various health-related problems. Thus, the growing demand for low-fat food products is projected to hamper market growth.

Global Cheese Market: Competitive Landscape

Major players operating in the global cheese market include, Arla Foods, Inc., Bongrain SA, Fonterra Co-Operative Group Ltd., Fromageries Bel S.A., Mondelez International Group (Kraft), Sargento Foods Inc., GCMMF – AMUL, Almarai Company Ltd., Saputo Inc., Royal FrieslandCampina N.V., Groupe Lactalis S.A, and Emmi

Global Cheese Market: Key Developments

January 2019: Emmi expanded its Kaltbach portfolio of cheeses in the US with a new cave-aged gouda, made with milk from dairy farmers in central Switzerland.

Milk and other dairy products are widely used in the making of cheeses. Plant-based cheese is 100 percent animal-free and is produced from soy; nuts, and vegetable oils. Various types of cheeses include, Mozzarella, Cheddar, Emmental, Gouda, Parmigiano, Feta, Brie, and parmesan.

Market Dynamics:

High demand for plant-based products is expected to propel growth of global cheese market over the forecast period. For instance, in February 2021, kitskitchen Health Foods Inc., a wholly owned subsidiary of Modern Meat Inc., a Canada-based plant-based food manufacturer, announced to launch a selection of dairy-free artisan cheeses. 

Moreover, increasing number of quick service restaurants (QSRs) and coffee shops is also expected to aid in growth of the cheese market. The number of McDonald’s restaurants worldwide increased from over 36,000 in 2016 to over 38,600 as of March 2020. Moreover, the number of Starbucks coffee outlets worldwide increased from over 29,000 in 2018 to over 31,000 in 2019.

Major players operating in the global cheese market are focused on adopting M&A strategies to expand their product portfolio. For instance, in February 2021, Danone, a France-based food company, acquired Follow Your Heart, a U.S.-based vegan egg, cheese, and mayonnaise brand.

Key features of the study:

  • This report provides in-depth analysis of the global cheese market, and provides market size (US$ Billion and KT) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global cheese market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Arla Foods, Inc., Bongrain SA, Fonterra Co-Operative Group Ltd., Fromageries Bel S.A., Mondelez International Group (Kraft), Sargento Foods Inc., GCMMF – AMUL, Almarai Company Ltd., Saputo Inc., Royal FrieslandCampina N.V., Groupe Lactalis S.A, and Emmi
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global cheese market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cheese market

Detailed Segmentation:

  • Global Cheese Market, By Product Type:
    • American
    • Italian
    • Hard
    • Soft
    • Fresh
    • Others
  • Global Cheese Market, By Region:
    • North America
      • By Product Type
        • American
        • Italian
        • Hard
        • Soft
        • Fresh
        • Others
      • By Country
        • Canada
        • U.S.
    • Europe
      • Product Type
        • American
        • Italian
        • Hard
        • Soft
        • Fresh
        • Others
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • Product Type
        • American
        • Italian
        • Hard
        • Soft
        • Fresh
        • Others
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Rest of World.
      • By Product Type
        • American
        • Italian
        • Hard
        • Soft
        • Fresh
        • Others
  • Company Profiles
    • Arla Foods, Inc.
    • Bongrain SA
    • Fonterra Co-Operative Group Ltd.
    • Fromageries Bel S.A.
    • Mondelez International Group (Kraft)
    • Sargento Foods Inc.
    • GCMMF – AMUL
    • Almarai Company Ltd.
    • Saputo Inc.
    • Royal Friesland Campina N.V.
    • Groupe Lactalis S.A
    •  Emmi USA.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Cheese Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Cheese Market – COVID-19
    • Impact Analysis
  5. Global Cheese Market, By Product Type, 2021- 2028 (US$ Bn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • American
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Bn & KT)
    • Italian
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Bn & KT)
    • Hard
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Bn & KT)
    • Soft
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Bn & KT)
    • Fresh
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Bn & KT)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Bn & KT)
  6. Global Cheese Market, By Region, 2021- 2028 (US$ Bn & KT)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, For Region, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2023 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Europe
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2023 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2023 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Rest of world
      • Market Share Analysis, By Country, 2020, 2023 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2023 and 2028 (%)
      • By Sub-Region
        • Latin America
        • MEA
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Arla Foods, Inc.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      •  Bongrain SA.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Fonterra Co-Operative Group Ltd.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Fromageries Bel S.A.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Mondelez International Group (Kraft)
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Sargento Foods Inc.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • GCMMF – AMUL
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Almarai Company Ltd.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Saputo Inc.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Royal Friesland Campina N.V.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      • Groupe Lactalis S.A.
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
      •  Emmi USA
        • Company Overview
        • Product Portfolio
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on Cheese Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

Increasing urban population coupled with the increase in the household food budget and increasing spending on food products are factors boosting demand for cheese.
Shorter shelf-life of the cheese product and increasing demand for low-fat healthy food due to growing prevalence of various lifestyle diseases are factors hindering growth of the market.
The market was valued at US$ 127.09 billion in 2020.
Europe (by region) held dominant position in the market in 2020 owing to increase in disposable income, population and quick service restaurants.
Increasing consumption of dairy products and partnership and agreements between key manufacturers for business expansion are gaining traction in the market.
Arla Foods, Inc., Bongrain SA, Fonterra Co-Operative Group Ltd., Fromageries Bel S.A., Mondelez International Group (Kraft), Sargento Foods Inc., GCMMF – AMUL, Almarai Company Ltd., Saputo Inc., Royal FrieslandCampina N.V., Groupe Lactalis S.A, and Emmi
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