Zion Market Research has published a new report titled “Cheese Market (Natural and Processed) by Product (Mozzarella, Cheddar, Feta, Roquefort and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global cheese market was valued at over USD 95.17 billion in 2016, is expected to reach above USD 124.20 billion in 2022 and is anticipated to grow at a CAGR of slightly above 4.57% between 2017 and 2022.
Cheese is the most consumed fermented food worldwide owing to miscellaneous flavors and textures. Cheese can be prepared using cow milk, buffalo milk, and goat milk. However, buffalo milk comprises of huge fat content, the majority of the cheese factories utilize buffalo milk for the production of cheese. Cheese is generally classified based on fermentation type, maturation period and microbes used for curdling. Cheese is chief ingredient in various European dishes; therefore, the cheese market is likely to maintain its market in the coming years.
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Cheese is a vital and an indispensable part of a wide range of the fast food and also a key ingredient for daily meals in some of the regions. Availability of various types of cheese with diverse flavors in a market is expected to drive the market growth in upcoming years. Cheese consists of high protein content which helps in weight gain and building up bone strength. This factor is likely to fuel the growth of the cheese market with the rise in the number of populace adopting diet pattern. On the flip side, cheese encompasses huge fat content which may limit its usage among the obese population which may hamper the growth of cheese market. Nevertheless, increasing cheese demand from emerging economies along with ongoing research for innovative cheese products with high nutrition is expected to thieve the growth of the cheese market in coming forecast period.
The cheese market can be segmented on the basis of type into natural and processed cheese. Natural cheese is the leading segment owing to high demand from consumers due to its novel flavor and texture. Natural cheese accounted for the noteworthy market share in 2015. Processed cheese is likely to flourish the market in the coming years owing to the high use of processed cheese in fast food such as burgers, pizza, hamburgers and the hot dog among others. Some of the well-known products of cheese are mozzarella, cheddar, feta, Roquefort, and others. Cheddar cheese can be granted, liquefied, pieced due to its hard texture along with long shelf life compared to mozzarella. Therefore, cheddar cheese dominated the cheese market with around 30% of the share of the overall cheese market. Feta and Roquefort are liable to prosper the market growth in forecast period owing to intense flavor.
The cheese market as curled by Europe in 2015 owing to huge consumption of cheese in an everyday meal. Europeans totally rely on cheese for their daily protein intake. In Europe, almost 65% of recipes utilize cheese for attaining great taste and texture. These factors are likely to plunge the growth of the cheese market in coming years. North America is the largest cheese producer across a globe. North America held significant share owing to an immense usage of cheese in fast food. Moreover, there has been the intense rise in the fast food chain which may positively influence the growth of the cheese market in the forecast period.
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Asia Pacific is expected to trace the fastest pace in future years. This was mainly attributed to growing absorption of the western fast food trend. India is predicted to hold the major chunk of the total Asia Pacific cheese market share owing to the sharp rise in dairy industry and a presence of top cheese manufacturers in this region. Latin America is likely to explode the cheese market in coming years due to massive augmentation of the dairy industry in Brazil. The Middle East and Africa are expected to witness upright growth in the cheese market owing to growing industrialization in this region.
Mother Dairy, Almarai, Bega Cheese, Cady Cheese Factory, Amul, Parag Milk Foods, Hook’s Cheese Company, Bel Group, Brunkow Cheese Factory, Bletsoe Cheese, Kraft and Burnett Dairy among others are some of the key players in the cheese market.
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