Cheese Market (Product - Processed and Unprocessed) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 07/05/2017 -- Cheese is one of the most versatile dairy products world over and its consumption is driven by the recognition of its vast nutritional value and its availability in varied textures, aroma, and flavors. Cheese is either consumed as a standalone food or used in preparing a range of cuisines in various parts of the world. Changes in dietary habits and rising popularity of fast food chains have boosted the evolution of the market. The fast pace of urbanization, increasing disposable incomes of consumers across developing regions, and a large number of people dining out are key factors fuelling the growth of the cheese market.
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In recent years, dairy manufacturers and companies have made substantial investments in improving the aging, processing, and cheese making techniques, giving result to premium quality processes chees, useful in preparing a variety of regional cuisines. Companies are also focusing on innovative methods of cheese production that has not only enhanced the nutritional value but also its appeal among populations inclined toward a vegan diet. The global cheese market is projected to rise at a CAGR of 4.40% from 2013 to 2019. Expanding at this pace, the opportunities of the market is expected to reach US$105.13 bn by the end of the forecast period.
What are the factors fuelling the popularity of unprocessed cheese?
Based on the product, the cheese market is bifurcated into processed and unprocessed cheese. The market for processed cheese is growing at a significant pace and currently exceeds that of the unprocessed cheese segment. The growth of the processed cheese segment is attributed to the substantial demand for processed cheese across retail chains in emerging markets such as China and India.
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However, in the coming years, there is an increasing demand for unprocessed or natural cheese from developed countries of North America and Europe, such as the U.S., the U.K., Germany, and Canada. The demand for all-natural or unprocessed cheese is fuelled by the affinity of cheese lovers toward the originality of taste.
Cheese Journeys, creating an awareness of the world's finest artisan cheeses, and aimed at creating educational travel experience for food lovers announced in June, 2017 a tour specifically for cheese-loving tourists for Labor Day weekend near Philadelphia. Cheese-lovers taking the tour can sample cheeses in greater Philadelphia region and the adjoining Chester County. The excursion is scheduled for September 1 - 4, 2017 and is will be co-hosted by Tenaya Darlington, and Anna Juhl, the founder of the company. Turophiles taking the tour will have exposure to the vibrant cheese culture in Southeastern Pennsylvania. These factors are expected to favorably impact the growth of the U.S. cheese market.
Which geographic regions are anticipated to offer promising growth prospects?
Geographically, the market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Of these, Europe leads the global market. The dominance of the regional market is attributed to the soaring demand for cheese in several fast food chains and the inclusion of cheese in daily diet among populations in various European countries. Several emerging markets in Europe, such as Ukraine, Bulgaria, and Greece, are poised to grow at a significant pace in the coming years.
Meanwhile, the Asia Pacific market for cheese is expected to offer lucrative growth avenues in the coming years. The regional market is forecast to rise at a CAGR of 7.90% during 2013 - 2019. A major chunk of the demand comes from countries such as China, India, and Japan. The growth of the regional market is driven by fast rising disposable incomes, burgeoning popularity of dairy products, and changing food habits in emerging nations. The growing number of distribution channels further bodes well for the regional market.