Cheese Market Insights and Industry Analysis by Source (Goat Milk, Sheep Milk, Whole Cow Milk, Skimmed Cow Milk, Buffalo Milk, Others), by Type (Fresh, Aged-Fresh, Soft White, Semi-Soft, Hard, Flavored, Others), by Product-Type (Cheddar, Mozzarella, Parmesan, American, Blue, Others), by Application (Cheese Processing, Cheese Spreads, Cheese Dips, Fast Food Snacks, Alcohol Accompaniments, Bakery Foods, Processed Foods, Savory Snacks, Others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2027
New York, US, June 30, 2021 (GLOBE NEWSWIRE) -- Cheese Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Cheese Market Information by Source, Type, Product Type, Application, and Region - Forecast till 2027”, the market is anticipated to reach Worth USD 155 Billion by 2027, at a CAGR of 3.5%.
Cheese is a palatable and highly nutritious milk-derived food item that is available in an extensive range of tastes, textures, as well as aromas worldwide. The taste and texture vary depending on the raw material that has been used while preparing the cheese, including the breed and type of the animal producing the milk, climatic and grazing factors, and more. Since cheese makes for close to one-tenth volume of milk, it is highly portable with extended shelf life in comparison.
Top Growth Boosters:
The booming sales of cheese and cheese products could be due to the soaring preference for high protein and low-fat products and the frequent launch of new flavors. Foods and beverages like cheese are increasingly being preferred with read-to-drink cocktails, bagels, and cheesecakes which should also mean substantial revenue generation in the next couple of years.
Surge in disposable income, particularly in developing countries and the rising interest in boosting refinement of palate will heighten the demand for premium items like cheese. Rapid escalation in the number of quick-service restaurants has been favorable for the cheese market. In these food service outlets, cheese has a host of applications including bagels, crackers, and bread. It is also served as a dip for various snacks such as potato chips, salads and more. With the amplified popularity of ready to eat food items like sandwiches and burgers, especially among the youth, the demand for cheese is bound to rise at an incredible rate over the following years.
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Implementation of strict government regulations across a few countries to reduce the sodium content in food products could deter the market growth to some extent.
Some of the Major Contenders in the Global Cheese Industry include:
Most of these companies focus on fostering their geographical reach and launch newer, more advanced products via strategies, such as product launches, collaborations, and partnerships.
COVID 19 Analysis
The Covid-19 outbreak has posed a number of challenges to the food and beverage industry, as the number of cases continue to escalate. The spread of the pandemic has shifted the focus of consumers towards health maintenance, resulting in higher spending on products that claim to have health advantages. This has emerged as a significant marketing opportunity for the major brands in the global market.
Browse In-depth Market Research Report (131 Pages) on Cheese: https://www.marketresearchfuture.com/reports/cheese-market-2213
Sources covered in the MRFR study are buffalo milk, sheep milk, goat milk, skimmed cow milk, whole cow milk, and more. Whole cow milk should capture a growth rate of 4.37% between 2020 and 2027.
Types of cheese are aged-fresh, fresh, Semi-Soft, Soft White, Flavored, and Hard.
Product types are Mozzarella, Cheddar, Blue, American, Parmesan, and more.
Major applications are Processed Foods, Cheese Spreads, Savory Snacks, Cheese Processing, Fast Food Snacks, Cheese Dips, Bakery Foods, Alcohol Accompaniments, and others.
Europe heads the global market with the highest share of over 55% and should achieve a growth rate of 4.63% from 2020 to 2027. The demand for cheese in the region is significantly high, in view of soaring popularity of ready to eat food products. The region’s dominance will remain unbeatable throughout the evaluation period, thanks to the thriving dairy industry in the region. Germany remains the most lucrative market in the region, on account of the evolving eating habits, striking growth of the food and beverage sector and the heightened demand among vegans. The European market is also marked by the presence of several established players like Field Roast, Daiya Foods Inc., Nush Foods and Follow Your Heart that continuously explore innovative ways to up their positions.
Asia Pacific is one of the fastest emerging revenue pockets in the global market. The demand is incredibly high in Japan, China, and a number of South-East Asian economies, which is creating attractive opportunities for international companies. Mounting health concerns in hand with the growing prevalence of hectic lifestyle also drive the sales of cheese products in the region. Significant penetration rate of e-commerce channels, and the emergence of organized and standardized channels in the region also bolster the market share.
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