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Global Cheese Market is Expected to Grow at a CAGR of 7.8% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Cheese Market and Forecast 2021-2026’, the global cheese market reached a value of about USD 75.46 billion in 2020. The market is further anticipated to grow at a CAGR of 7.8% between 2021 and 2026 to reach a value of around USD 109.85 billion by 2026.

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.

Market Analysis by Source, Type, Product, Format, Distribution Channel, and Region:

  • Based on source, the market can be divided into cow milk, buffalo milk, and goat milk, among others.
  • By type, the industry is bifurcated into natural and processed.
  • The major products in the market can be segmented into cheddar cheese, mozzarella and semi soft cheese, parmesan cheese, feta, and swiss cheese, among others.
  • The formats of cheese can be divided into slices, diced/cubes, shredded, blocks, and spreads, among others.
  • The distribution channels in the market include supermarket/hypermarket, convenience stores, specialty stores, and online, among others.
  • The regional markets for cheese include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global cheese market is primarily being driven by the increasing disposable income and rising demand from the food sector.
  • The global cheese market will be powered by the rising consumption in developing markets like China and India in the next few years.
  • The market is also being supported by the expanding organised retail sector.
  • Increased market initiatives taken by various key players, including advertising, is boosting the market growth.
  • The product diversification by various key players in the industry is also aiding the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global cheese market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the sources, types, products, formats, distribution channels, and major regions of cheese.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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