U.S. cheese market size was valued at $32,291 million in 2017, and is projected to reach $40,467 million by 2025, growing at a CAGR of 2.8% from 2018 to 2025.
Cheese is a popular dairy product consumed in the U.S. for its enticing taste and nutritional benefits. Cheese has varying flavor with different taste depending on the source of milk, aging time, production process, and cheese making technique. Increase in fast food consumption and awareness among people about the health benefits of cheese increases the demand for cheese products. In addition, growth in popularity of European food culture in the U.S. majorly drive the growth of the cheese market. Immigrants have the habit of carrying their culture wherever they migrate. This has a significant impact on the modern food culture of U.S. For instance, pasta and pizza are now very common food found in U.S. Major raw material used in the production of cheese is milk. Other raw material is the rennet, which is an enzyme that turns milk into curd. Advancement in technologies and innovation in the cheese industry leads to rise in curing time of cheese owing to the increase in demand. Technological advancement helps in the enhancement of flavor, quality and shelf life of cheese.
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Based on product, the market is segmented into mozzarella, cheddar, feta, parmesan, Roquefort, and others. Others include Camembert, Ricotta, and Brie. In 2017, cheddar cheese experienced the highest growth rate, the cheddar cheese market share is valued to be more than one-third of the U.S. cheese market in terms of volume, owing to its great taste and veracity of the use of the cheddar cheese. Surge in the consumption of fast food have notably impacted the consumption pattern of cheddar cheese as it is widely used in numerous cuisines for its distinct flavor.
The cheddar cheese market is expected to grow at the high CAGR of 3.7%, in terms of revenue, during the forecast period. The hypermarket and food specialty stores segments are anticipated to be the fastest developing B2C distribution channels, in terms of value, growing at a CAGR of 2.7% & 3.7% respectively, from 2018 to 2025.
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The major companies profiled in this report are Arla Foods, Bel Group, Fonterra Food, Kraft Heinz, Lactalis Group, Savencia SA, Almarai, Associated Milk Producers, Saputo, and Cady Cheese Factory.