Global Cheese Industry Size, Share of Key Players, SWOT Analysis, and Report

Global Cheese Market:

The global cheese market size reached US$ 88.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 143.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032. The emerging technological advancement in cheese production, along with the expanding food service sector, is primarily driving the cheese market growth.

Global Cheese Market Analysis:

• Major Market Drivers: The shifting consumer dietary preferences towards protein-rich and convenient food products are among the primary factors bolstering the cheese market demand. Additionally, the increasing number of culinary shows, effective marketing campaigns, and the inflating influence of social media platforms are also propelling the global cheese industry.
• Key Market Trends: The rising trend of snacking between meals is positively influencing the cheese market share. Apart from this, the introduction of numerous cheese variants, such as flavored, artisanal, and plant-based options, catering to various consumer dietary requirements and preferences, is projected to elevate the cheese market revenue in the coming years.
• Geographical Trends: According to the cheese market research report, Europe exhibits a clear dominance in the market, on account of the wide availability of several cheese options. Besides this, the cultural significance of cheese products in European cuisines is inflating their demand internationally and domestically.
• Competitive Landscape: Some of the global cheese industry size include Arla Foods amba, Dairy Farmers of America Inc., Fonterra Co-operative Group Limited, FrieslandCampina, Lactalis (The Kraft Heinz Company), and Savencia SA, among many others.
• Challenges and Opportunities: One of the primary challenges hampering the cheese market business opportunity is the growing consumption of cheddar cheese, which may pose an increased risk of breast cancer. However, advanced techniques, such as biotechnology and precision fermentation, that help in improving the nutritional attributes of cheese are anticipated to fuel the global market over the forecasted period.
   

Global Cheese Market Trends:

Technological Advancements in Cheese Production

The inflating popularity of specialized proteins in cheese-making processes is one of the key factors propelling the market growth across the globe. For example, micellar casein, owing to its unique functional and structural characteristics, contributes to higher water retention, protein content, heat stability, and nutritional benefits in cheese. Furthermore, key players are also using precision fermentation techniques, thereby acting as another significant growth-inducing factor. For instance, in March 2023, Daiya Foods, a leading plant-based food brand known for its plant-based cheese products, announced an investment in fermentation technology to introduce a plant-based cheese that closely mimics traditional dairy-based cheese. By combining traditional cheese-making methods with modern technology, the company aimed to enhance experience in the plant-based cheese category. Moreover, in August 2023, Agrocorp International developed HerbY-Cheese, which is a nut-free and plant-based cheese range under the brand HerbYvore in Singapore. The company partnered with the Singapore Institute of Technology (SIT) to launch sustainable plant protein extraction methods. In addition to this, the collaboration enabled the successful commercialization and development of HerbY-Cheese, which includes dairy-free alternatives to mozzarella, cheddar, and parmesan. Additionally, HerbY-Cheese is commonly available in selected local establishments and for purchase online, catering to consumers looking for nutritious and sustainable dairy alternatives. In line with this, in March 2023, PlantWise, a plant-based dairy alternative company, introduced vegan cheese shreds, spreads, and cheesy nuggets that taste like dairy cheeses. PlantWise's unique natural fermentation process creates an authentic cheese flavor similar to dairy cheese.

Rising Product Offerings

The introduction of product variants that can be used in preparing many dishes, such as burgers, pizzas, pasta, etc., is elevating the production of cheese across the global market. Leading manufacturers are also developing flavored, artisanal, and plant-based options, which, in turn, represent primary drivers propelling the market growth. For example, in October 2022, Armored Fresh, a subsidiary of Korean company Yangyoo, introduced plant-based cheese in over 100 markets in NYC with plans to expand to New Jersey and nationwide. Additionally, the cheese provides a similar protein content to animal-based cheese and is made from plant-based lactic acid and almond milk. The company raised significant funding and aimed to enter the U.S. market via national grocery retailers.

Increasing Focus on Strategic Approaches

Strategic collaborations and partnerships among the leading companies to boost their brand presence among consumers are positively influencing the cheese market price. For example, in December 2022, Britannia Industries entered into a partnership, with Bel acquiring a 49% stake in Britannia's subsidiary, Britannia Dairy, to capitalize on the growing cheese market in India. Moreover, the collaboration involved selling and producing co-branded products under "The Laughing Cow" and "Britannia" trademarks. Besides this, in February 2021, Heritage Foods entered the cheese product market by launching mozzarella and processed cheese. The company claimed that the variants were made of pure cow milk. The newly launched cheese products introduced by Heritage Foods contain a naturally occurring cheesy flavor suitable for consumption by individuals of all age groups.

Global Cheese Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on source, type, product, format, and distribution channel. 

Breakup by Source:

• Cow Milk
• Buffalo Milk
• Goat Milk
• Others
   

The report has provided a detailed breakup and analysis of the market based on the source. This includes cow milk, buffalo milk, goat milk, and others.

The widespread adoption of conventional cheese that is prepared by using animal-based sources, such as buffalo milk, cow milk, goat milk, and others, is augmenting the global market. The easy availability of cow milk, its mild flavor, its versatile applications, etc., is contributing to the growth of the market. Furthermore, buffalo milk is known for preparing cheese with a unique taste profile, which appeals to individuals who are seeking unique types and distinctive flavors. Apart from this, goat milk offerings cater to those who prefer a nuttier and tangier flavor profile, thereby acting as another significant growth-inducing factor.

Breakup by Type:

• Natural
• Processed
   

Natural cheese holds the largest share of the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes natural and processed. According to the report, natural cheese accounted for the largest market share.

The increasing consumer awareness towards dairy as a nutritious snack, along with the escalating demand for organic and lactose-free cheese, is propelling the market growth in this segmentation. For example, according to Agriculture and Agri-Food Canada, the unprocessed cheese, or natural cheese segment, dominates the Western European market, constituting 87% of retail sales. Furthermore, the rising consumer preference for clean-label products will continue to stimulate the segmentation growth in the coming years.

Breakup by Product:

• Mozzarella
• Cheddar 
• Feta
• Parmesan
• Roquefort
• Others
   

Mozzarella represents the most popular product

The report has provided a detailed breakup and analysis of the market based on the product. This includes mozzarella, cheddar, feta, parmesan, roquefort, and others. According to the report, mozzarella accounted for the largest market share. 

The rising adoption of convenience food products is propelling the demand for mozzarella, thereby positively influencing the market growth in this segmentation. Moreover, it is extensively utilized in numerous cuisines, including American, Italian, and fusion dishes, thereby making it a versatile ingredient for modern and traditional recipes. Apart from this, continuous expansion of the quick-service restaurant (QSR) industry will continue to stimulate the growth of the market in this segmentation over the foreseeable future.

Breakup by Format:

• Slices
• Diced/Cubes
• Shredded
• Blocks
• Spreads
• Liquid
• Others
   

The report has provided a detailed breakup and analysis of the market based on the format. This includes slices, diced/cubes, shredded, blocks, spreads, liquid, and others.

Sliced cheese is a popular choice, as it offers convenience for sandwiches and burgers. Besides this, shredded cheese is adopted in baking and cooking, adding flavor to dishes. In contrast, blocks of cheese are versatile and can be sliced or grated as needed, often used for culinary or entertaining purposes, thereby representing another major growth factor. Apart from this, cheese spreads are generally enjoyed on crackers or as sandwich fillings and offer a creamy texture. Moreover, liquid cheese, also known as cheese sauce, serves as dipping and a topping for several dishes, including chips, nachos, fries, etc., thereby driving the global market in this segmentation.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others
   

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, convenience stores, specialty stores, online, and others.

The rising at-home cooking experiences are escalating the demand for cheese via hypermarkets and supermarkets. Moreover, retailers in several markets are revitalizing their specialty cheese programs by diversifying their offerings. Some of them are emphasizing on domestic cheese, owing to stable pricing compared to fluctuating import prices. For example, the rising variety in retail in the U.S. includes U.S. versions of European favorite cheese, thereby minimizing shipping costs. Furthermore, retailers are conducting in-store promotions, cheese display spaces, and organizing themed events to boost the sales of artisanal cheese.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Others
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • Iran
  • United Arab Emirates
  • Others
     

Europe exhibits a clear dominance in the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others); and the Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, and others). According to the report, Europe accounted for the largest market share.

The Europe cheese market is primarily propelled by the easy availability of numerous cheese options across the region. Moreover, the wide presence of key online cheese retailers, such as Love Cheese, Italia Regina, La Gourmeta, Frank and Sal, etc., is also acting as another significant growth-inducing factor. Besides this, cheese is produced in Europe, mainly in Italy, France, Germany, and the Netherlands. These countries collectively covered 39.53% volume of the overall cheese consumed in the region in 2022. Furthermore, cheese is highly valued among consumers in France, owing to its diverse flavor and the social aspect it offers. In fact, almost 40% of individuals use cheese every day, and over 95% have included it in their regular diet. Apart from this, the inflating popularity of regional Italian cuisines that are prepared by adopting parmesan, mozzarella, and pecorino cheese is expected to stimulate the Europe cheese market in the coming years.

Competitive Landscape:

At present, key players in the market are implementing various strategies to solidify their positions. They are expanding their range of products to cater to diverse consumer preferences and introducing new flavors, textures, and packaging sizes to capture a wider market share. Moreover, companies are embracing sustainability by adopting eco-friendly production methods, reducing waste, and implementing responsible sourcing of ingredients that resonate with environmentally conscious consumers. Besides this, they are using digital platforms and social media to create engaging campaigns that resonate with their target audience and use visually appealing content and storytelling to enhance their brand image. Along with this, key players are establishing and maintaining high-quality standards and investing in quality control processes to ensure consistent taste, texture, and safety across their products, thus propelling market growth.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Arla Foods amba
• Dairy Farmers of America Inc.
• Fonterra Co-operative Group Limited
• FrieslandCampina
• Lactalis (The Kraft Heinz Company)
• Savencia SA
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Global Cheese Market News:

• April 2024: Lifeway Foods, Inc., a leading U.S. supplier of kefir and fermented probiotic products, announced that its Farmer Cheese was named a winner in Good Housekeeping ‘s 2024 best snack awards.
• April 2024: Crystal Farms Dairy Co. is launching ten new items in the cheese aisle. With a focus on bold flavors like unique shredded blends and Ghost Pepper and nutritious on-the-go snacks, including Gouda Snack Cubes.
• March 2024: Kraft Natural Cheese, a leading dairy brand, announced the launch of Kraft Signature Shreds. This new product innovation offers consumers a restaurant-style, thick-cut, unique, natural shredded cheese to elevate their homemade meals with satisfying flavor.

Cheese Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cheese market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global cheese market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cheese industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.