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The global cheese market is primarily being supported by the ever-growing food industry, which is witnessing a healthy growth because of the rapid urbanisation and increasing disposable income around the world. Fast food chains are among the world's largest customers of cheese. The fast food industry's rapid growth is projected to contribute to higher consumption of cheese in the coming years.
The cheese market growth has also been supported by the introduction of healthier cheese option by the key players in the industry. In June 2016, Nestlé (OTCMKTS: NSRGY), one of the key players, supported the guidelines issued by the United States FDA on sodium reduction. As the consumption of cheese has been on the rise due to the increasing demand for fast food, its impact on health also needs to be considered. Nestle took this challenge to create cheese that would be healthier but would not compromise on taste. This initiative has positively impacted the global cheese market in the historical period of 2016-2020. As the demand for the product is witnessing a healthy growth, a wide variety of the product is becoming available on different distribution channels, including e-retail channels like Amazon (NASDAQ: AMZN) and supermarkets like Walmart Inc (NYSE: WMT). The industry is likely to grow further in the coming years due to the increased consumption of cheese boosted by innovative recipes and globalisation of cuisines.
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The major players in the global cheese market are Nestle SA, Danone S.A., Lactalis Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Unilever PLC, Meiji Co., Ltd, Arla Foods Amba, and Gujarat Cooperative Milk Marketing Federation Ltd (Amul), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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