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Research Reports

Cheese Market Size Was Valued At $150.10 Billion In 2020

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Cheese Market Size Was Valued At $150.10 Billion In 2020, And Is Estimated To Reach $150.7 Billion By 2027, Registering A Cagr Of 1.3% From 2021 To 2027

Cheese is a rich source of nutrients such as protein, minerals, vitamins, and calcium, among others. Consumption of cheese lowers the risk of medical conditions such as diabetes, and heart diseases among others. Therefore, various health benefits associated with consumption of cheese are expected to boost the growth of the global cheese market over the forecast period.

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Market Dynamics:

  • Rapid urbanization and increasing number of working women has raised the demand for ready-to-eat food products. Moreover, the availability of cheese as a snack with no artificial ingredients is also expected to facilitate growth of the global cheese market during the forecast period.
  • The most preferred form of cheese is the shredded form since it melts quickly and forms a soupy layer. Therefore, this form of cheese is primarily used in pizza baking. Also, the shelf life of shredded cheese is 5-7 days, hence, quick service restaurants, pizzerias, and on-the-go meal vendors prefer shredded form of cheese. Furthermore, the advent of variety in cheese such as string cheese among others is gaining traction in the market. For instance, WhiteWave Foods Company’s ‘Horizon Organic’ brand offers organic mozzarella string cheese. Saputo Cheese USA Inc. also offers cheese snacks in the form of string cheese, swirl cheese, cheese sticks, and cheese snack bars as everyday snack items.
  • However, stringent government regulations regarding the manufacture of cheese are expected to hamper growth of the global cheese market during the forecast period. For instance, there are federal standards for composition of cheese and dairy products in the U.S. FDA Code of Federal Regulations (CFR) 21, Parts 100 to 169. According to these regulations, an updated list of tables and technical composition data for a wide range of dairy products related to the composition of cheese and dairy products needs to be provided by all manufacturers.

Market Outlook:

  • Among product type, mozzarella cheese is expected to gain a significant market share during the forecast period owing to its use as a pizza topping. Pizza consumption rate is higher in developed countries such as the U.S. and in countries of Europe. Moreover, pizza consumption is increasing in emerging countries of the Asia Pacific region as well, owing to westernization, urbanization, and changing food habits. Therefore, increasing pizza consumption is expected to fuel demand for mozzarella cheese, and boost the growth of global cheese market.
  • For instance, according to an article published by the U.S. Dairy Export Council (USDEC) in 2016, the per capita consumption of cheese on pizza in the U.S. was more than 8 lbs. per year, whereas in Japan, annual per capita pizza cheese consumption is 4.9 lbs.
  • Furthermore, according to the USDEC (US Dairy Export Council), 3.2% of CAGR has been projected in the overall international cheese trade for the period 2016 – 2020. An additional 100,000 tons of pizza cheese is expected to be traded internationally each year by 2020.

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Key Players:

  • Key players operating in the global cheese market include The Kraft Heinz Company, Carbery Group, Arla Foods Amba, Dairygold Co-Operative Society Ltd., Bel Group, Britannia Industries Limited, Lactalis International, Fonterra Co-operative Group, Associated Milk Producers Inc., and Sargento Foods Incorporated.

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The post Cheese Market Size Was Valued At $150.10 Billion In 2020 appeared first on Gatorledger.

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