The cheese market is expected to expand from US$ 95.0 billion in 2023 to US$ 160.0 billion by 2033.
The product’s longer shelf life, appealing flavour profile, and diversity at a cheaper price point than other cheese kinds on the market have all contributed to a recent increase in demand for processed cheese.
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Key Takeaways:
- The cheese market is expected to expand at a CAGR of 5.4% during the forecast period 2023 to 2033.
- Throughout the forecast period, the market is likely to be driven by rising demand for vegan cheese as well as increased sales of cheese for home applications.
- North America dominated the cheese market.
Key Developments
- Dalter Alimentari Spa unveiled a new cheese cut, new cheese matchsticks, in March 2021, a market-exclusive cut designed to give exceptional results. This product is suitable for the food manufacturing and food service industries. It is frequently used in ready meals, salads, soups, and sauces, as well as fillings and stuffing.
- Glanbia finalised the acquisition of Foodarom (Germany) in August 2020. The acquisition boosted Glanbia’s strengths in flavours and nutritional solutions.
- In Wisconsin, United States, Land O Lakes Cheese debuted Land O Lakes Shredded Cheese, a cheese line that includes seven cheese varieties in the grocery store’s dairy case section, in June 2022. The cheese supply chain starts with Wisconsin farmers who supply milk to the Land O’Lakes Kiel, Wisconsin plant where the cheese is manufactured.
- Arla Foods, a Danish dairy cooperative, will invest around $8.2 million in the construction of a new cheese production facility in Japan in May 2021. Arla announced plans to build two additional ripening warehouses, new cheese machinery, and a new drainage room at its home market, Troldhede Dairy in West Jutland.
- Heritage Foods entered the cheese product market in February 2021, introducing processed and mozzarella cheese. Heritage says that its processed cheese and mozzarella cheese are made from 100% cow milk. The company’s freshly announced cheese products were touted to possess a naturally occurring cheesy flavor suited for ingestion by people of all ages.
- The Kraft Heinz Company announced in November 2021 that it had completed the sale of some assets in its global cheese business, as well as the licensing of certain trademarks. This was done for a Groupe Lactalis affiliate for a total of roughly $3.3 billion. This amounts to roughly US$ 3.2 billion in cash consideration.
- Kraft Heinz is going to launch vegan cheese singles in three flavors in October 2022. This year, Kraft Heinz and food tech firm NotCo may release a dairy-free version of traditional Kraft singles American cheese slices. This is one of the first goods to be released as a part of their collaboration.
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Cheese Market by Key Segment
By Nature:
- Organic Cheese, which caters to health-conscious consumers, is gaining popularity due to its eco-friendly cultivation methods.
- Conventional Cheese remains a staple choice, appealing to traditional tastes and preferences.
By Source:
- Dairy-based Cheese, deriving from milk, continues to dominate the market, valued for its rich taste and texture.
- Plant-based Cheese, crafted from alternative sources, is embraced by the growing vegan and lactose-intolerant consumer base.
By Product Type:
- Mozzarella offers its signature stretchy texture, making it a go-to choice for pizzas and various dishes.
- Cheddar’s sharpness and versatility make it a sought-after option for both snacking and cooking.
- Pepper Jack, known for its spicy kick, adds flavor to sandwiches and Mexican cuisine.
- Parmesan’s robust taste complements pasta, salads, and more.
- Gouda’s smooth and nutty profile makes it a versatile favorite.
- Other diverse cheese varieties continue to captivate adventurous palates.
By Form:
- Block, Cube, Shreds, Slices, Spread, Powder, and Sticks offer convenient options for diverse culinary needs.
By End Use:
- The Food and Beverage Industry integrates cheese in various recipes, enhancing taste and texture.
- HoReCa establishments rely on cheese to elevate their menu offerings.
- Household Retail caters to consumers seeking cheese for personal use and family meals.
By Sales Channel:
- B2B transactions facilitate bulk purchases for industries and businesses.
- B2C interactions engage individual consumers directly.
- Modern Trade, Convenience Stores, Traditional Grocery Stores, and Specialty Stores ensure widespread accessibility.
- Online Retail gains momentum, providing convenient cheese shopping experiences.
- Other Retail Formats offer additional avenues for cheese distribution and availability
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