Cheese has turned out to be one of the vital key ingredients in the convenience foods. Convenience food has been experiencing continuous pacing demand based on the “ready-to-eat” nature of the food it offers. The sector is also majorly driven by the boosting consumption of fast-foods in which cheese goes as a key ingredient. Additionally, health benefits gained out of cheese consumption are the main drivers to the development of this segment. Cheese is found to be the rich source of phosphorus, sodium, saturated fat, calcium and protein which adds value to the final product prepared out of it. High focus on R&D resulting in product innovations is also attracting consumers towards the unique offerings in cheese thereby fueling its growth.
Owning to diverse application and high demand due to unique flavor of cheese, the market is anticipated to keep surging at a high rate on a global platform. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Cheese Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Protein and calcium content of cheese curbs hunger and makes the stomach feel full. This further helps in loosing excess body fat. Consumption of cheese is therefore being highly suggested to health conscious consumers to keep their weight in check. Zinc content of the product aids in body’s tissue repair thereby speeding up the healing process. Escalation observed in the fitness and wellness sector has enhanced the market growth trajectory of the sector to an elevated level.
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Latest Industry Updates:
Jan 2017 Arla Foods which is one of the renowned names in the cheese market and one of the largest cheese manufacturers in the U.K opened its new facility for the storage and maturation of its cheese. This strongly portrays that the company focuses on expansion by increasing their production volume to generate high revenues.
March 2017 Land O’Lakes, Inc., one of the key players in the cheese industry acquired Vermont Creamery. Vermont Creamery engages in the manufacturing of fresh and aged goat cheeses, cultured butter and fresh dairy. This strategy of acquisition will further help the company in expanding their geographical footprint across the region.
Nov 2017 Pizza Hut which is one of the consumers most favorites fast food joint started offering dairy-free cheese on all its pies in order to suffice the rising demand from the vegan consumers end.
Dec 2017 Borden, Inc. introduced new thick cut shreds to dairy aisle. The company focuses majorly on consumers need and bring in innovations to their product line to further increase their product’s sale. This also helps the company in gaining consumers attention towards their offerings.
Major Key Players:
With the entry of industry players in the cheese segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are found to have high inclination towards new and unique product launch to acquire huge consumer base. Investments in opening new facilities, starting a joint venture and acquisitions are the major strategies followed by the key players in order to sustain their market position.
The key players profiled in cheese are Land O’Lakes, Inc. (U.S.), Kerry Group Plc (Ireland), Lactosan A/S (Denmark), Arla Foods (Denmark), Aarkay Food Products Ltd (India), Dairiconcepts, L.P. (U.S.), Kanegrade Limited (U.K.), The Kraft Heinz Co. (U.S.), FrieslandCampina (Netherlands), Dairy Farmers of America Inc. (U.S.)
The global cheese market has been divided into source, type, product-type, application and region.
On The Basis Of Source: Goat Milk, Sheep Milk, Whole Cow Milk, Skimmed Cow Milk, Buffalo Milk, Others
On The Basis Of Type: Fresh, Aged-Fresh, Soft White, Semi-Soft, Hard, Flavored, Others
On The Basis Of Product-Type: Cheddar, Mozzarella, Parmesan, American, Blue, Others
On The Basis Of Application: Cheese Processing, Cheese Spreads, Cheese Dips, Fast Food Snacks, Alcohol Accompaniments, Bakery Foods, Processed Foods, Savory Snacks, Others
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The global cheese market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global cheese market is highly dominated by Europe due to high demand for cheese and cheese products in the region. North America is one of the fastest growing region due to changing lifestyle and improved disposable income in the region. The consumption of cheese in countries like Germany, India, U.S. and China is expected to grow in upcoming years.