The cheese market is expected to expand from US$ 95.0 billion in 2023 to US$ 160.0 billion by 2033.
Demand for processed cheese, such as Cheddar, Parmesan, and Romano, has increased in recent years due to factors such as the product’s improved shelf life, the appealing flavor profile of processed cheese, and the versatility it provides at a lower price point than other types of cheese in the market.
Processed cheese is used in local cuisines, in addition to its normal use in fast food products due to its distinct flavor profile. Furthermore, the rise of private labels in developing nations, as well as the demand for western cuisine, have increased the demand for processed cheese.
With increased internet penetration, the global online market for purchasing food items, including cheese, has grown significantly in the previous three to four years. Moreover, this category has drawn a few vertical specialists, such as Amazon, Walmart, Carrefour, and others. They are contending for a significant portion of the online cheese industry, while riding the rising tide of e-commerce growth. Because of the increased global demand for processed cheese, the product is being produced in more places than ever before.
Key Takeaways:
- The cheese market is expected to expand at a CAGR of 5.4% during the forecast period 2023 to 2033.
- Rising demand for vegan cheese, as well as increased sales of cheese for home applications, are expected to drive the market throughout the forecast period.
- North America dominated the cheese market.
Key Developments
- In March 2021, Dalter Alimentari Spa debuted a new cheese cut, new cheese matchsticks, a market-exclusive cut designed to deliver great results. This product meets the requirements of the food manufacturing and food service industries. It is commonly used as an ingredient in ready meals, salads, soups, and sauces, as well as fillings and stuffing.
- Glanbia completed the acquisition of Foodarom in August 2020. (Germany). Glanbia’s capabilities in tastes and nutritional solutions were strengthened as a result of the acquisition.
- In June 2022, Land O Lakes Cheese released Land O Lakes Shredded Cheese, a cheese line that includes seven cheese products in the grocery store’s dairy case section, in Wisconsin, United States. The cheese supply chain begins with Wisconsin farmers, who provide milk that is sent to the Land O’Lakes Kiel, Wisconsin plant where the cheese is made.
- In May 2021, Arla Foods, a Danish dairy cooperative, invested around US$ 8.2 million in the construction of a new cheese production facility in Japan. Arla announced plans to develop two extra ripening warehouses, new cheese machinery, and a new drainage room at Troldhede Dairy in West Jutland, its home market.
- 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.
Buy now to gain access to detailed information about each segment
Cheese Market by Key Segment
By Nature:
- Organic Cheese
- Conventional Cheese
By Source:
- Dairy-based Cheese
- Plant-based Cheese
By Product Type:
- Mozzarella
- Cheddar
- Pepper Jack
- Parmesan
- Gouda
- Other
By Form:
- Block
- Cube
- Shreds
- Slice
- Spread
- Powder
- Sticks
By End Use:
- Food and Beverage Industry
- HoReCa
- Household Retail
By Sales Channel:
- B2B
- B2C
- Modern Trade
- Convenience Stores
- Traditional Grocery Stores
- Specialty Stores
- Online Retail
- Other Retail Formats
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