Cheese
is one of the most common dairy products consumed globally. It is
consumed either as processed cheese or unprocessed (Natural) cheese
or as both. The cheese market has seen diversified trends across
different geographies such as North America, Europe, Asia Pacific and
Rest of the World. The global cheese market is expected to witness
rapid changes due to fast changing eating patterns across all the
geographies. Globally, the cheese market is expected to grow
significantly, mainly due to growing demand from emerging markets
such as India, China, and Brazil among others. The growth in
consumption of cheese is attributed to increase in the number of fast
food chains in Asia Pacific and in some parts of Europe. The leading
markets of Europe such as Germany among others are heading to
maturity; however the emerging markets in Europe such as Ukraine,
Bulgaria and Greece among others are expected to witness growth in
demand for cheese. Preference for healthy food is another key factor
that drives the demand for cheese globally.
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The
rise in consumption of cheese is supported by increasing food budget
and growing urbanization in emerging markets in Asia Pacific such as
India and China among others. Moreover the growing preference for
fast food that includes cheese as an important ingredient is expected
to drive the market for the next six years.
The
demand for processed cheese is expected to grow in the markets such
as India and China among others due to increase in the number of fast
food restaurants. Major developed markets such as the U.S., Canada,
Germany and the UK are expected to witness the rising demand for
natural or unprocessed cheese over the next six years. Cheese is
available in almost all the distribution channels such as
Supermarkets/ Hypermarkets, Department store and convenience stores
among others. However, improving lifestyles in emerging countries in
developed countries are expected to support the growth of
supermarkets and hypermarket in the next six years.
The
global cheese market was worth USD 79.57 billion in 2012 and it is
expected to reach USD 105.13 billion in 2019. The cheese
market globally is expected to grow at a CAGR of 4.4%from 2013 to
2019. The growth in the market is mainly attributed to growing demand
for unprocessed or natural cheese in developed markets such as the
U.S., Canada, Germany and the UK among others and for processed
cheese in markets such as India and China among others.
Geographically,
Europe held the largest market share globally followed by North
America in 2012. The demand for cheese in these geographies is driven
by busy lifestyle of people and their dependence on the fast food.
The demand is supported by popularity of the cheese in their daily
diet. European countries produce and export cheese on larger scale
than any other geographies. The consumption of cheese is expected to
increase in geographies such as Asia Pacific and Rest of the World by
2019. In 2012 the Europe and North America together accounted for
more than 70% of the global cheese market; however the percentage
share of these geographies is expected to decline to slightly about
60% in 2019.
The
market size of processed cheese is expected to grow at a higher CAGR
than that of Unprocessed cheese market. However, developed markets
are expected to witness the trend for unprocessed cheese due to its
originality of taste.
The
supermarkets/ hypermarkets are the most preferred distribution
channels and are expected to dominate the distribution share of
cheese by 2019 followed by food grocery and convenience stores.
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