Cheese Market to Reach Valuation of USD 107.7 Billion by 2028 - Owing to Growing Demands for Specialized Cheese Products, the Market Growth is Fueled

Vantage Market Research

May 17, 2022

From the period of 2022 to 2028, the Global Cheese Market is expected to reach USD 107.7 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 3.20%.

Cheese is used in a wide range of cuisines, recipes, and goods. Cheese is a dairy product formed by coagulating casein, a milk protein often found in cow, buffalo, goat, or sheep milk. It's available in a wide range of flavors, textures, and shapes. Cheese has long been praised for its versatility and long shelf life. Aside from that, it's heavy in minerals like calcium, which is vital for strong bones, and high-quality proteins, which provide essential building blocks for strong muscles. Fast food restaurants are one of the greatest users of Cheese in the world, and the fast-food industry is growing at a healthy rate as the global population and disposable incomes rise.

Key Highlights from the Report

  • The market is divided into Cheese products and Cheese powder based on type. Cheese powder is widely used to give sweet and savory items a Cheese flavor and texture. The most popular Cheese powder snack brands are Cheetos, Burritos, McCain, and Venkys. Cheese powder outperforms other flavors in terms of functionality and quality, as well as being easier to use in a number of snack products. The need for snacks and quick foods has increased as consumers have grown accustomed to fast food and on-the-go items, encouraging corporations to think creatively and strategically when designing snack products.

  • The market is divided into three categories based on distribution channels: retail, foodservice, and food makers. In supermarkets and hypermarkets, extensive product availability and a large choice of product selections are driving sales growth. In the ever-changing supermarket/hypermarket industry, investors rely on buyer preferences to create a seamless shopping experience. Moreover, the online retail business may have increased positively in recent years due to its accessibility. Furthermore, Specialty and convenience stores will grow slowly due to limited discount options.

  • Asia Pacific is the fastest regional segment in terms of growth. As India is currently the world's largest milk producer, the Cheese Market in India has considerable growth potential. Consumers are migrating away from paneer and toward Cheese as the impact of western cuisines grows and disposable incomes rise, increasing Cheese consumption in the country. In addition, manufacturers are offering a variety of flavored Cheese products, such as pepper, garlic, red chili flakes, and oregano pickle, to cater to Indian consumers' diverse tastes and preferences.

Market Dynamics:

Flavor Combinations' Growing Popularity Will Boost Market Growth

Consumer demand for new foreign flavors and cuisines has risen dramatically in recent years. The developing popularity of Cheese taste combinations in many cuisines, such as Italian and Mexican, has hastened the use of numerous types. The constantly expanding foodservice sector has prompted the creation of innovative products, including as powder and creamers, by major product manufacturers, which acts as a driving element. Flavored Cheese is a growing category that caters to modern customer desire for unique flavors including herbal, spicy, and fruit. Globally, the industry is thriving, with new products being introduced to the retail platform as a result of developments and innovations.

Cheese Consumption is Causing Increasing Concern About its Negative Health Implications

The growing consumer awareness of Cheese's negative health impacts is stifling the worldwide Cheese Market's expansion. Obesity, high cholesterol, and heart disease are the most common problems linked to processed Cheese intake. The synthesis of a poisonous alkaloid and toxic amines during the ripening process of Cheese causes alterations in the neurological system, resulting in elevated blood pressure, headaches, palpitations, and migraines. Rennet, preservatives, emulsifiers, and other chemical agents used in the Cheese -making process might cause health problems. In the usual American diet, dairy products, particularly Cheese, are a substantial source of saturated fat. Saturated fats raise the bad LDL cholesterol, which increases the risk of heart disease. However, a new innovative process of producing Cheese is tending to increase the growth of the market.

Cheese Market Size, Share & Trends Analysis Report by Type (Cheese products, Cheese powder), by Application (Bakery & confectionery, Snacks & cereals, Ready meals, Sweet & savory snacks, sauces), by Source (Animal, Plant), by Distribution channel (Retail, Foodservice, Food manufacturers), by Nature (Conventional, Organic), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)