Cheese to Amass Revenues More Than US$105.13 bn in the Global Market Through 2019
The global cheese market is estimated to rise from US$79.57 bn in 2012 to US$105.13 bn by 2019, exhibiting a 4.40% CAGR from 2013 to 2019, says the report. In the last few years, cheese has gained immense popularity, thanks to its nutritional value. Currently, cheese is accepted and consumed as a chief ingredient in cooking. The variations in the texture and taste of cheese, along with its aging and processing techniques, have resulted in a huge variety of high-quality cheeses sold around the world.
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The prominent players operating in the market include Fromageries Bel S.A., Royal Frieslandcampina N.V., EMMI, Bongrain SA, Fonterra Co-Operative Group Ltd., Mondelez International Group (Kraft), Almarai Company Ltd., Arla Foods, Inc., GCMMF - Amul, Sargento Foods Inc., Groupe Lactalis S.A, and Saputo Inc.
The tremendous rise in the fast food industry worldwide, rapid urbanization, changing lifestyles, and increasing disposable income resulting in a rise in the number of people eating outside are some of the major factors that are expected to fuel the growth of the global cheese market throughout the forecast period. Moreover, the growing popularity of cheese among adults as well as kids in developing countries is considered as the biggest opportunity for players operating in the market. In addition, the growing number of distribution channels is projected to boost sales in the global cheese market.
On the flip side, rising health concerns due to an unhealthy diet, short shelf life of the product, and unstable economic conditions across the globe are estimated to hamper the growth of the global cheese market in the coming years.
By geography, the global cheese market has been classified into North America, Europe, Asia Pacific, and Rest of the World. Among these regions, in 2012, Europe dominated with a 38.8% share in the global cheese market. North America held the second position, holding a 32.7% share in the global cheese market. On the other hand, the Asia Pacific market for cheese is projected to exhibit a 7.90% CAGR between 2013 and 2019. Japan, China, and India are estimated to contribute substantially towards the growth of the market throughout the forecast period.
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The research study has further provided a detailed vendor analysis of the global cheese market, focusing on the company profiles, inception details, financial overview, business policies, major mergers and acquisitions if any, and SWOT analysis. The increasing demand for cheese has attracted several players to participate in the global cheese market. These players are making efforts to introduce new combinations and innovations and create a brand name to gain the competitive advantage in the market.
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