Global Cheese Market to Grow Steadily at 22.4% CAGR from 2015 – 2021
Deerfield Beach, FL -- (SBWIRE) -- 10/03/2017 -- 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. 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".
Cheese is highly nutrient food derived from coagulating, ripened curd of milk and draining off the way. Cheese has beneficial for skin, hair, and health. It is also beneficial in cavity prevention, cancer prevention, weight gain, bone strength, osteoporosis, high blood pressure etc. It is not pasteurized, so it has higher vitamin content than heat-treated milk. Cheese is valued for its long shelf life, and high content of fat, protein, and phosphorus. Cheese is also a rich source of calcium which is used to maintain healthy and strong teeth. Processed cheese and natural cheese are key products of cheese. Mozzarella and cheddar are two major types of cheese. Mozzarella cheese is widely used in pizza, pasta, and many more products.
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Cheese market is mainly driven by increasing demand from the fast food industry and dairy industry. Another key driving factor is growing popularity among people owing to its various flavors, textures, and delicious test. The cheese market is expected to witness rapid growth owing to strong demand from emerging markets such as India and China among other countries. However, increasing awareness towards low calorie on the account of rising obese prevalence is expected to hamper the growth of cheese market over the forecast period.
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Unprocessed cheese and processed cheese are key product segments of global cheese market. Processed cheese was leading segment and is expected to remain the largest product segment within the forecast period owing to gaining importance of functional ingredients in fast food industry. Unprocessed or natural is another key product expected to be fastest growing segment over the forecast period.
Based on the type, the cheese market can be segmented as mozzarella cheese and cheddar cheese. Cheddar cheese was the largest product segment of cheese market and accounted for significant share of the total consumption in 2015. Cheddar cheese market is also expected to be the fastest growing segment throughout the forecast period. The mozzarella was the second leading segment in the global cheese market owing to widely used in pizzas and pasta.
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Cheese market was dominated by Europe with over 35.2% share in total consumption in 2015. Europe was closely followed by North America. North America was accounted for over 30.5% share of the total market in 2015. Asia Pacific is expected to be the fastest-growing market in the near future. This can be attributed to positive dairy industry outlook in India and China owing to domestic demand growth coupled with favorable regulatory support is projected to drive cheese market demand.
The global cheese market includes Alra Foods Inc., Bongrain S.A., Fonterra Co-operative Group Ltd., FromageriesBel 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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