Cheese Market to Reach $222.0 Billion, Globally, by 2033 at 2.6% CAGR: Allied Market Research

Convenience becomes a key driver in the cheese market, as busy lifestyles prompt demand for pre-packaged, ready-to-eat cheese snacks and meal solutions. Portability, portion control, and longer shelf life are prioritized, leading to innovations in packaging and processing techniques to meet the needs of on-the-go consumers.

Wilmington, Delaware, May 15, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, Cheese Market by Source (Cow Milk, Sheep Milk, Goat Milk, Buffalo Milk), Type (Natural Cheese, Processed Cheese), Product (Mozzarella, Cheddar, Feta, Parmesan, Roquefort, Others), and Distribution Channel (B2B, B2C): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the “cheese market” was valued at $172.6 billion in 2023, and is estimated to reach $222.0 billion by 2033, growing at a CAGR of 2.6% from 2024 to 2033.

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Prime determinants of growth

Organic is one of the trending market requirements which is common in almost every food & beverage product including dairy and dairy products. As consumers are becoming health conscious and are aware of the unhealthy production of goods in the market and their side effects on the body, they are raising the demand for organic products in the market.

On the other hand, premiumization and artisanal offerings present significant opportunities for the cheese market by tapping into consumers’ growing desire for unique and high-quality culinary experiences. Artisanal cheeses, crafted using traditional methods and premium ingredients, cater to discerning consumers seeking authenticity, craftsmanship, and distinct flavor profiles. This trend aligns with the broader movement towards artisanal and gourmet food products, driven by consumers’ willingness to pay a premium for superior quality and unique taste sensations.

Report Coverage & details:

Report Coverage  Details 
Forecast Period  2024–2033
Base Year  2023
Market Size in 2022  $172.6 billion
Market Size in 2032  $222.0 billion
CAGR  2.6% 
No. of Pages in Report  320
Segments Covered  Source, Type, Product, Distribution Channel and Region
Drivers  The surge in QSRs and fast casual restaurant business augmenting the market.
The increase in demand for nutrient-rich food is propelling the market growth.
Rise in demand for organic cheese is driving the market.
Opportunities  Increase in demand for fortified cheese.
Sustainable packaging of cheese will attract more consumers in the future.
Restraints  Alarming obesity rates and health concerns are reducing the demand for cheese among
Big business of counterfeiting of cheese is causing a huge loss to the key players.

Cow milk segment to maintain its leadership status throughout the forecast period

By source, the cow milk segment held the major share of the market share in 2023, accounting for more than four-fifths of the global cheese market, and is estimated to maintain its leadership status throughout the forecast period. Cow’s milk is the most common type of milk used for manufacturing cheese. Today, most dairy products are made from cow’s milk. Buffalo milk is the fastest-growing segment of the market in 2023. Buffalo milk’s cheese, especially Mozzarella, is highly perishable as compared to other unaged cheese. As a result, the cheese tends to lose its freshness and sweet tarty flavor.

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Natural cheese segment to retain its dominance by 2033

By type, the natural cheese segment held the major share of the market in 2023, accounting for more than two-thirds of the global cheese market, and is estimated to maintain its leadership status throughout the forecast period. This is mainly owing to the associated health benefits of soft cheese. Natural cheese contains high protein content and source of minerals and various vitamins, which helps in the reduction of cardiovascular diseases and osteoporosis. Processed cheese is the fastest-growing segment of the market in 2023. Processed cheese has been gaining market share in the cheese industry for many years now attributed to an increase in health awareness among the people, the higher fat content in cheese, and differences in requirements of the customer all around the globe.  

Cheddar segment to maintain its leadership status throughout the forecast period

By product, the cheddar segment held the major share of the market share in 2023, accounting for more than one-third of the global cheese market, and is estimated to maintain its leadership status throughout the forecast period. Cheddar cheese is highly popular owing to its harder texture, creamier & sharp taste, and longer shelf life. This cheese is widely used in fast food, savory snacks, and bakery products. The price of cheddar cheese is low compared to that of other cheeses such as mozzarella cheese. Roquefort is the fastest-growing segment of the market in 2023. The anti-inflammatory properties present in Roquefort cheese led to newer innovations of drugs in the healthcare and pharmaceutical sector which creates new opportunities in market growth.

B2C segment to retain its dominance by 2033

By distribution channel, the B2C segment held the major share of the market in 2023, accounting for more than half of the global cheese market, and is estimated to maintain its leadership status throughout the forecast period. Supermarkets and hypermarkets are gaining high popularity owing to the availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. B2B is the fastest-growing segment of the market in 2023. There is an increase in the demand for outdoor meals owing to the adoption of fast food among consumers.

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Europe to maintain its dominance by 2033

Based on region, Europe region held the highest market share in terms of revenue in 2023, accounting for nearly two-fifths of the global cheese market. The European region is the epicenter of cheese production and consumption. Europe is known to have a large variety of cheese and can cater to the demands of the world. With ever-rising demands for cheese around the world, Europe became the hub for cheese export and producer of some of the high-quality cheese in the world. Latin America is the fastest-growing region of the market in 2023. The increase in the consumption of fast food, rapid urbanization, improvement in logistics, and demand for different ethnic food such as Italian cuisine in the market have led to an increase in the consumption of cheese among millennials which is thereby increasing the demand for cheese in the region.   

Leading Market Players

  • Arla Foods
  • Bel Group
  • Fonterra Food
  • Kraft Heinz
  • Lactalis Group
  • SAVENCIA SA
  • Britannia Industries Limited
  • Associated Milk Producers Inc.
  • Saputo Inc.
  • Gujarat Cooperative Milk Marketing Federation Ltd.

The report analyzes these key players in the global cheese market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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