Cheese Market Scenario Indicates Prime Trends & Growth Parameters, 2017-2022 || Key Players: Mondelez International, Inc., Sargento Foods Inc., and Gujarat Cooperative Milk Marketing Federation Ltd.
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Cheese encompasses excessive content of fats, which has been limiting its consumption, especially among obese people across the globe. In addition, high consumption of cheese leads to a number of negative health effects, which include increasing in cholesterol levels, and cardiac arrests. A tremendous rise has been witnessed in the awareness about health impacts of cheese consumption among people since recent past. Volatile economic conditions in underdeveloped and developed economies are further impeding people’s ability of paying more for dairy products, whose prices are increasing significantly. These factors might act as restraints for growth of the global market for cheese over the forecast period
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North America to Remain Dominant in the Global Cheese Market
Currently, North America is the dominant region in the global cheese market. North America cheese market is poised to account for roughly US$ 27,000 Mn revenues by 2022-end. The cheese markets in North America and Middle East & Africa (MEA) are estimated to exhibit a parallel expansion through 2022. However, revenues from the MEA cheese market will remain substantially lower than that in North America cheese market. Revenues from Europe cheese market will account for nearly one-fourth share of the overall cheese market throughout the forecast period.
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In terms of revenues, modern grocery retailers will continue to be dominant in the global cheese market, based on sales channels. With approximately one-third revenue share of the cheese market in 2017, modern grocery retail will gain 36 BPS in its market share by 2022-end. Traditional grocery retailers are expected to be the second most lucrative sales channel for cheese by 2022-end.
Based on sales channel, modern grocery retailers are estimated to remain dominant in the market, in terms of revenues. With roughly one-third market revenue share in 2017, the modern grocery retailers are expected to witness a rise of 36 BPS in market share by 2022-end.
Traditional grocery retailers will continue to be the second largest sales channel in the global cheese market by 2022-end. Based on product type, processed cheese, and unprocessed cheese sales will continue to exhibit similar CAGRs through 2022.
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Leading players profiled in Fact.MR’s report on the global cheese market include Arla Foods amba, Savencia SA, Fonterra Co-operative Group Limited, Koninklijke FrieslandCampina N.V., Groupe Lactalis S.A., Almarai - Joint Stock Company, Associated Milk Producers, Inc., Mondelez International, Inc., Sargento Foods Inc., and Gujarat Cooperative Milk Marketing Federation Ltd.
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