Cheese Market Projected to Reach US$ 160.0 Billion by 2033, Unveiling Robust Growth Opportunities Across Various Segments of the Industry | Future Market Insights

The cheese market is expected to expand from US$ 95.0 billion in 2023 to US$ 160.0 billion by 2033.

The enhanced shelf life of the product, the tasty flavour profile, and the diversity it offers at a cheaper price point than other varieties of cheese on the market have all contributed to a growth in demand for processed cheese in recent years.

The cheese market is expanding dramatically, driven by shifting consumer tastes and culinary advancements. Expansion is being driven by the demand for a wide variety of cheeses and their use in many cuisines. The cheese market is still growing and offering both established and new competitors with significant prospects as global palates diversify.

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-Key Takeaways:

• -The cheese market is expected to expand at a CAGR of 5.4% during the forecast period 2023 to 2033.

• -Rising demand for vegan cheese, as well as increased sales of cheese for home applications, are expected to drive the market throughout the forecast period.

• -North America dominated the cheese market.

-Key Developments

• -In March 2021, Dalter Alimentari Spa debuted a new cheese cut, new cheese matchsticks, a market-exclusive cut designed to deliver great results. This product meets the requirements of the food manufacturing and food service industries. It is commonly used as an ingredient in ready meals, salads, soups, and sauces, as well as fillings and stuffing.

• -Glanbia completed the acquisition of Foodarom in August 2020. (Germany). Glanbia's capabilities in tastes and nutritional solutions were strengthened as a result of the acquisition.

• -In June 2022, Land O Lakes Cheese released Land O Lakes Shredded Cheese, a cheese line that includes seven cheese products in the grocery store's dairy case section, in Wisconsin, United States. The cheese supply chain begins with Wisconsin farmers, who provide milk that is sent to the Land O'Lakes Kiel, Wisconsin plant where the cheese is made.

• -In May 2021, Arla Foods, a Danish dairy cooperative, invested around US$ 8.2 million in the construction of a new cheese production facility in Japan. Arla announced plans to develop two extra ripening warehouses, new cheese machinery, and a new drainage room at Troldhede Dairy in West Jutland, its home market.

• -Heritage Foods entered the cheese product market in February 2021, introducing processed and mozzarella cheese. Heritage says that its processed cheese and mozzarella cheese are made from 100% cow milk. The company's freshly announced cheese products were touted to possess a naturally occurring cheesy flavor suited for ingestion by people of all ages.

• -The Kraft Heinz Company announced in November 2021 that it had completed the sale of some assets in its global cheese business, as well as the licensing of certain trademarks. This was done for a Groupe Lactalis affiliate for a total of roughly US$3.3 billion. This amounts to roughly US$ 3.2 billion in cash consideration.

• -Kraft Heinz is going to launch vegan cheese singles in three flavors in October 2022. This year, Kraft Heinz and food tech firm NotCo may release a dairy-free version of traditional Kraft singles American cheese slices. This is one of the first goods to be released as a part of their collaboration.

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-ReportCheese Market by Key Segment

-By Nature:

• Organic Cheese, which caters to health-conscious consumers, is gaining popularity due to its eco-friendly cultivation methods.

• Conventional Cheese remains a staple choice, appealing to traditional tastes and preferences.

-By Source:

• Dairy-based Cheese, deriving from milk, continues to dominate the market, valued for its rich taste and texture.

• Plant-based Cheese, crafted from alternative sources, is embraced by the growing vegan and lactose-intolerant consumer base.

-By Product Type:

• Mozzarella offers its signature stretchy texture, making it a go-to choice for pizzas and various dishes.

• Cheddar's sharpness and versatility make it a sought-after option for snacking and cooking.

• Pepper Jack, known for its spicy kick, adds flavor to sandwiches and Mexican cuisine.

• Parmesan's robust taste complements pasta, salads, and more.

• Gouda's smooth and nutty profile makes it a versatile favorite.

• Other diverse cheese varieties continue to captivate adventurous palates.

-By Form:

• Block, Cube, Shreds, Slices, Spread, Powder, and Sticks offer convenient options for diverse culinary needs.

-By End Use:

• The Food and Beverage Industry integrates cheese in various recipes, enhancing taste and texture.

• HoReCa establishments rely on cheese to elevate their menu offerings.

• Household Retail caters to consumers seeking cheese for personal use and family meals.

-By Sales Channel:

• B2B transactions facilitate bulk purchases for industries and businesses.

• B2C interactions engage individual consumers directly.

• Modern Trade, Convenience Stores, Traditional Grocery Stores, and Specialty Stores ensure widespread accessibility.

• Online Retail gains momentum, providing convenient cheese shopping experiences.

• Other Retail Formats offer additional avenues for cheese distribution and availability

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.