Cheese Market Set to Reach USD 123 Billion by 2030, Growing at a CAGR of 5%

Cheese Market Set to Reach USD 123 Billion by 2030, Growing at a CAGR of 5%

According to Next Move Strategy Consulting, the global Cheese Market, is projected to grow significantly, reaching USD 123 billion by 2030. This growth, registering a compound annual growth rate (CAGR) of 5% by 2030, highlights the increasing demand for cheese across various segments, driven by consumer preference for diverse and nutritious food options.

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Cheese, a dairy product known for its rich taste and variety, is derived from the milk of cows, buffaloes, goats, and sheep. It is also available in plant-based alternatives, making it a suitable option for lactose-intolerant individuals. Cheese is not only nutritious, packed with protein, calcium, and essential minerals, but it also offers health benefits like stronger bones and a healthier heart.

The cheese market is thriving due to a surge in demand from the food industry, particularly for popular dishes such as pizza, pasta, and burgers. Cheese’s versatility, along with its enhanced shelf life and affordable pricing, has contributed to its growing popularity. Additionally, the unique flavors of gourmet cheeses such as gorgonzola, Roquefort, and stilton further fuel the market’s expansion.

Technological advancements such as supercooling and ultrafiltration have improved the quality of cheese production, while the rise of e-commerce platforms like Amazon and Walmart has made cheese products more accessible to a global audience. However, health concerns regarding the high-fat content of cheese products may restrain growth, although innovations like low-fat and low-cholesterol cheese options are expected to mitigate these concerns.

Market Segmentation and Scope of Study

The cheese market is segmented based on source, type, product, distribution channel, and geography:

  • Source: Cow milk, goat milk, sheep milk, buffalo milk, and plant-based milk.
  • Type: Fresh cheese, aged cheese, hard cheese, blue cheese, soft & semi-soft cheese, and flavor-added cheese.
  • Product: Mozzarella, feta, cheddar, parmesan, Roquefort, and others.
  • Distribution Channels: Hypermarkets & supermarkets, convenience stores, specialty stores, and others.
  • Geography: North America, Europe, Asia-Pacific, and Rest of World (RoW).

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Regional Insights

North America dominated the cheese market in 2022, with continued growth expected through 2030. This region’s increasing demand for clean-label dairy products, including natural, lactose-free, and non-GMO cheese, is driving market growth. Companies like Saputo Inc. and Dairy Farmers of America are expanding their reach through acquisitions and product innovations to meet this demand.

Europe, with the highest per capita cheese consumption rates, also plays a key role in the market's development. The region’s strong consumption of cheese in various cuisines, coupled with a growing preference for healthier cheese products, is expected to sustain its market position.

Asia-Pacific is anticipated to experience the fastest growth, fueled by the rising adoption of cheese products and the growth of fast food and convenience food markets.

Competitive Landscape

Key players in the cheese industry include The Kraft Heinz Company, Nestlé S.A., Arla Foods Group, Fonterra Co-operative Group Limited, Savencia Fromage & Dairy, FrieslandCampina, and others. These companies are employing various strategies such as mergers, acquisitions, and product launches to strengthen their positions in the market. For example, Saputo Inc. acquired Bute Island Foods in May 2021 to enhance its dairy alternative portfolio.

In addition, new product developments like Kraft Heinz's cheese-flavored ice cream highlight the industry's drive to innovate and cater to evolving consumer preferences.

Conclusion

The global cheese market is poised for substantial growth in the coming years, driven by the increasing demand for cheese in food products, the expansion of e-commerce, and ongoing technological advancements in cheese production. While health concerns may present challenges, the development of healthier cheese options and new product offerings will likely create opportunities for market expansion.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

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