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The rising demand for cheese across various sectors such as quick service restaurants and others is expected to have a positive effect on the industry outlook. With increasing urbanisation and rising disposable incomes across the globe, the fast-food industry is witnessing a healthy growth. The high growth of the fast-food industry is expected to result in increased consumption of cheese in the near future. The expansion of the supermarket and other retail stores is further contributing to the increased demand for cheese. Meanwhile, the easy availability of cheese and cheese-based products through online platforms like Amazon.com, Inc. (NASDAQ: AMZN) is also aiding the industry growth. Until a few years ago, owing to the fear of spoilage and lack of proper logistics and storage facilities, many global players were reluctant to sell their goods in developing countries, however, this trend has changed with the rapid technological advancements in these regions.
Further, the increased penetration of leading companies in Australia and New Zealand is also aiding the cheese market growth. Meanwhile, South-Western Victoria is estimated to witness a high growth rate due to the presence of pioneering water buffalo cheese farm in the region, thus, contributing to the industry growth in Australia.
The growing focus of the leading players on launching new products and improving their portfolio is expected to significantly boost the industry growth over the forecast period. Fonterra Co-operative Group Limited (NZE: FCG), a New Zealand based multinational publicly traded dairy co-operative, is owned by around 10,500 New Zealand farmers. Being the largest company in New Zealand, Fonterra is responsible for approximately 30% of the world's dairy exports. In October 2018, the company relaunched its lactose-free cheese by the name Anchor Cheese. Such developments are expected to have a positive influence on the market growth in the forecast period.
Market Breakup by Type, Product, End Use, Distribution Channel, and Region:
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The major players in the Australia and New Zealand cheese market are Bega Cheese Limited, Saputo Dairy Australia Pty Ltd, Fonterra Co-operative Group Limited, Lion Pty Ltd., Lactalis Australia Ltd., Kraft Foods Limited, and Arla Foods Mayer Australia Pty Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, technological advancements, and capacity expansions of the major players.
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