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(HomeGarden247.com, March 26, 2020 ) Market Overview
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• The Global Cheese Market is expected to grow at a CAGR of 2.25% during the forecasting period (2019-2026). Cheese is a dairy product made from the milk of cows, buffalo, sheep, goat and other mammals. It is rich in protein, calcium, and vitamins. Cheese is a major accompaniment to foods like burgers, pizza, Mexican dishes, salad, and sandwiches. The health benefits associated with the consumption of cheese includes improved bone and dental health, low blood pressure, and healthy weight. Currently, the cheese market is shifting towards production of specialty cheese, artisan cheese, and farmstead cheese to meet the consumer requirements across the globe. The market is also experiencing significant demand for hot cheese, clothbound cheddar, marinated fresh cheese, flavored cheese, and many others.
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• The development of specialty cheese with high nutritional content and long shelf life is resulting in significant growth of packaged sales across the globe. The use of cheese surged in household food preparations, particularly across Europe and North America owing to the consumer demand for dairy formulations. Major food processors are highly interested towards use of cheese as an ingredient in broad range of recipes including pizza, burgers, pasta, salads, sandwiches, appetizers, breads, soups, and sauces. Cheese is used as a topping in pizza, sauces in pasta, fillings in appetizers, and slices in hamburgers. Increased consumption of cheese across food manufacturing, food service, and catering service is another factor contributing to the growth of cheese market globally. Additionally, growing establishments of western food outlets in developing countries across the Asia-Pacific region and increased consumption of cheese-based products by these food outlets are contributing to the growth of cheese in this region. According to Department of International Trade, exports of British cheese into Asia in 2018 reached USD 68.96 million, which is 10% of total cheese exports value.
• However, presence of health risks associated with consumption of cheese such as breast cancer, heart attacks, and respiratory issues is the major factor hindering the growth of cheese market globally.
• Global cheese market is segmented into various types such as fresh cheese, soft cheese, semi-soft cheese, hard cheese, blue cheese and others. Semi-soft cheese segment is dominating the global cheese market owing to the popularity and consumption of Mozzarella cheese across the globe. Mozzarella is a southern Italian cheese derived from Buffalo milk and is used widely in pizza and lasagna preparations owing to its stretching property. Mozzarella is also used as filling in sandwiches and can also be eaten fresh with seasonings. The rising demand for pizza and sandwiches and the growing food service industry is likely to surge the utilization of mozzarella cheese in future. According to United States Department of Agriculture, per capita consumption of Mozzarella increased from 10.66 pounds in 2007 to 11.57 pounds in 2017 in U.S.
• North America is dominating the global cheese market owing to consumer appetite towards cheese in the U.S. and Canada. According to the data published in USDA Dairy consumption, the per capita consumption of Cheese in the U.S. increased from 38.5 pounds in 2016 to 39 pounds in 2017. The annual growth of cheese consumption in the country can be attributable to the shift in consumer preference towards prepared food. The demand for cheese is significantly increasing in both household and food service applications. The high acceptance rate of ethnic cooking such as Italian and Mexican foods in U.S. households led to the growth in utilization of cheese. The rising cheese production in the country is supporting the growth of cheese market in the region. According to International Dairy Foods Association, Cheese production in the U.S. increased from 12.64 billion pounds in 2016 to 13.02 billion pounds in 2017, an increase of 1.5%.
• China is expected to the largest market for cheese by the end of 2025 owing to the surging demand for cheese and cheese-based products such as pasta, cheeseburgers, pizza and cheesecakes in the country. According to the U.S. Dairy Export Council, cheese imports in China surged more than 50-fold from 2,000 metric tons in 2000 to 108,000 metric tons in 2017 and the growth was significantly high in the past decade. The increasing upper-middle class population and free-spending millennial are the major consumer groups for cheese products in the country. The growth in e-commerce food service, adoption of western dietary habits, and increasing utilization of cheese in Chinese culinary recipes ae the key growth factors for Cheese market in China. China evolved as the largest partner for the U.S. dairy industry with rapidly growing cheese imports. However, the worsening trade relations and newly posed tariffs may adversely affect the market.
• The major players in global cheese market are focusing on acquiring regional players and their production plants to improve their production capabilities, thereby improving their product portfolio in respective region. For instance, in November 2019, Saputo Inc. acquired F&A Dairy Products Inc. and its two manufacturing plants in Wisconsin and New Mexico to improve its dairy portfolio in the U.S.
• This market is also experiencing new product launches in specialty cheese segment to meet the consumer requirements across the globe. For instance, In May 2019, Savenica Cheese USA, LLC, a specialty cheese manufacturer launched Supreme a new addition to its range of specialty cheese under the brand Brie
• Some of the key players in the global cheese market includes Bega Cheese Ltd, Fonterra Co-Operative Group Ltd., Saputo Inc., Parag Milk Foods and Almarai.
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