Global Cheese Market to Grow Steadily at 6.2% CAGR from 2015 – 2021
Deerfield Beach, FL -- (SBWIRE) -- 07/17/2017 -- Zion Market Research has published a new report titled "Cheese (Unprocessed Cheese and Processed Cheese) Market by Types (Mozzarella Cheese and Cheddar Cheese): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021".According to the report, the global cheese market was valued at approximately USD 80.5 billion in 2015 and is expected to reach approximately USD 110.5 billion by 2021, growing at a CAGR of around 6.2% between 2016 and 2021.In terms of volume, global cheese market stood at 417.0-kilo tons in 2015.
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Cheese is fermented milk obtained by different strains of lactic acid, coagulated and ripened curd. Cheese can be prepared in a wide range of flavors, textures, and forms. Cheese helps to reduce a risk of osteoporosis, weight gain, and bone strength. Cheese is also a rich source of calcium and vitamins. Mozzarella & cheddar are some of the most popular types of cheese available in the market. Cheddar cheese has the longer shelf life as compared to mozzarella cheese. Processed cheese is a blend of two or more types of cheese added with emulsifiers, vegetable oils, extra salt, food coloring and whey. Cheese is growing in popularity among consumers owing to its different flavors and delicious test.
Key drivers of cheese market include strong demand from dairy and fast food industry. The cheese market is expected to witness rapid growth owing to strong demand from emerging markets such as India and China. However, growing awareness towards low-calorie food owing to increasing obesity among cheese consumers is expected to be a major restraint for cheese market in the years to come.
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On the basis of product, the global cheese market has been segmented into unprocessed cheese and processed cheese. Processed cheese market accounted for a large chunk of the global cheese market in 2015 and is expected to remain the largest product segment over the forecast period. This is mainly due to gaining importance of functional ingredients in fast food industries. Unprocessed or natural second leading product segment for cheese on account of increasing demand from dairy industry.
Mozzarella cheese and cheddar cheese are the two types of cheese. Cheddar cheese was leading segment with the largest share of the total market in 2015 and is expected to be the fastest growing segment over the forecast period. Mozzarella is the second largest segment of the cheese market. It is also expected to exhibit rapid growth owing to increasing demand from the fast food industry.
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Europe was the leading region with over 35.2% share of overall demand for cheese in 2015. North America was second largest region and accounted for over 30.5% share of the total market in 2015.Asia Pacific is expected to dominate the global cheese market by the end of 2021. Latin America and Middle East & Africa are also expected to experience significant growth of cheese market in the years to come.
The global cheese market includes Alra Foods Inc., Bongrain S.A., Fonterra Co-operative Group Ltd., Fromageries Bel S.A., Mondelez International Group (earlier Kraft), GCMMF- Amul, Saputo Inc, Almarai Company Ltd among others, EMMI, GROUPE LACTALIS S.A, SAPUTO INC.
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