2018 Cheese Market Consumption and Forecast to 2023 by Type & Region

Global Cheese Market is expected to reach $164,338 million by 2023, from $136,283 million in 2016, growing at a CAGR of 2.7% from 2017 to 2023. Cheese is a highly nutritious and palatable milk-derived food product found in wide range of textures, tastes, and aromas globally with around 2000 varieties at present. The distinction between texture and taste is determined by raw material used during preparation of cheese, such as type & breed of milk producing animal, grazing and climatic factors, and others. Cheese consumes about one-tenth volume of the milk, making it portable with longer shelf life compared to milk. In addition, it is rich in nutrients such as protein, essential minerals, fat, calcium, and others. Moreover, it offers certain health benefits such as stronger teeth & bones, healthy heart (if consumed in moderate quantity), prevention of osteoporosis, and others. Furthermore, certain types of cheese such as cheddar, parmesan, Roquefort, and others can be easily consumed by lactose intolerant and milk allergic people.

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According to a new report published by Allied Market Research, titled, Cheese Market by Source, Type, Product, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global cheese market was valued at $136,283 million in 2016, and is projected to reach $164,338 million by 2023, growing at a CAGR of 2.7% from 2017 to 2023. The natural cheese type accounted for more than 70% of the global market in 2016.

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Cheese is a dairy product rich in several milk fats, vitamins, and minerals, prepared by coagulation of milk proteins, separation of whey, and subsequent ripening. Milk is the major raw material used in preparation of cheese, which is reduced to one-tenth of its volume after the formation of final product. It is manufactured in variety of shapes, textures, and flavors based on the country or region where it is produced. According to types it consists of different proportions of fats and proteins. The animals whose milk are used during cheese-making include cows, buffaloes, goats, and sheep. Moreover, cheese comes in various forms, namely, hard, semi-hard, soft, and fresh. In addition, cheese offers several health benefits such as lower blood pressure, facilitated absorption of minerals via digestive tract, stronger bone & teeth, prevention of heart disease & osteoporosis, and others.

The global cheese market was primarily occupied by North America and Europe with nearly 80% share in 2016. At present, the market is driven by large number of quick service restaurants (QSRs) in the developed regions and growth in number of QSRs in the developing regions. In addition, extensive shelf life of cheese products, rise in disposable income, and surge in demand for protein-rich food. However, growth in obesity rates & rise in health consciousness among adults, unhealthy additives & ingredients in processed cheese, and perishable nature of cheese products are expected to hamper the market growth during the forecast period. Moreover, developing market for low-fat cheese and various innovations to improve cheese taste & quality present new opportunities.

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