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Cheese is a dairy product made from coagulated milk by the combined action of lactic acid and certain microorganisms. It is used as a primary ingredient in dishes or foods, such as aligot, pizza, pudding, pasta, etc. Over the years, cheese has gradually become popular worldwide as it is available in different flavours, types and textures. Some of the most popular varieties of cheese include cheddar, gouda, asiago, mozzarella, American cheese, gorgonzola and feta. A new research report by IMARC Group, titled “Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global cheese market was worth US$ 48.2 Billion in 2017. The report further anticipates the market to cross US$ 81.1 Billion by 2023, at a projected CAGR of nearly 10% over the forecast period.

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Market Drivers/Constraints:

Owing to the increasing popularity of cheese among the consumers it is extensively being used in a number of fast-food joints, restaurants, and households. This is projected to drive the growth of the global cheese market.

The demand for cheese is expanding across the globe as it contains less amounts of saturated fats, sodium, and low-density lipoprotein, and offers benefits such as a healthy heart, strong teeth and bones, etc.

The changing tastes and preferences of the consumers, particularly in the developing regions, and the surging demand for protein-rich foods are some of the other factors stimulating the consumption of cheese worldwide.

Intense competition in the global cheese market coupled with the availability of substitutes such as fruit jams and spreads made from vegetables, peanuts, mayonnaise, etc. can hamper the market growth.

Global Cheese Market Segmentaion:

Market Breakup By Source:

1. Cow Milk

2. Buffalo Milk

3. Goats Milk

4. Others

On the basis of source, the global cheese market is segregated as cow milk, buffalo milk, goats milk and others.

Market Breakup By Type:

1. Natural

2. Processed

Based on type, the market is segmented into natural and processed. Currently, naturally produced cheese is preferred over the processed formulation on account of increasing health awareness amongst the consumers.

Market Breakup By Product:

1. Mozzarella

2. Cheddar

3. Feta

4. Parmesan

5. Parmesan

6. Others

On the basis of product, the global cheese market is divided as mozzarella, cheddar, feta, parmesan, roquefort and others. It is commonly used in pizzas, lasagne as well as pasta and enjoyed by people across the globe owing to its taste and healthy nutrients.

Performance by Format:

1. Slices

2. Diced/Cubes

3. Shredded

4. Blocks

5. Spreads

6. Liquid

7. Others

Based on format, the market is classified into slices, diced/cubes, shredded, blocks, spreads, liquid and others. Different formats of cheese are employed in the preparation of numerous food products like sandwich, wrap, pizza, etc.

Breakup by Distribution Channel:

1. Supermarkets and Hypermarkets

2. Convenience Stores

3. Specialty Stores

4. Online

5. Others

On the basis of distribution channel, supermarkets and hypermarkets represent the biggest segment as they offer convenience to the consumers. They are followed by convenience stores, specialty stores, online and others.

Performance of Key Regions:

1. European Union

2. North America

3. Latin America

4. Europe (Excluding European Union)

5. Oceania

6. Asia

On a geographical front, the European Union enjoys a leading position in the global cheese market due to its high demand in the region. In comparison with fluid milk, cheese is regarded as the second most preferred dairy product in the European Union. It is followed by North America, Latin America, Europe (excluding European Union), Oceania and Asia.

Competitive Landscape:

The global cheese industry is highly fragmented in nature due to the presence of numerous global and regional players. However, various mergers and acquisitions over the past few years have resulted in an increased concentration in the market. Some of the leading players operating in the market are:

1. Lactalis

2. Kraft Heinz

3. Fonterra

4. Dairy Farmers of America

5. FrieslandCampina

6. Arla Foods

7. Savencia Fromage & Dairy (Bongrain SA)

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