Cheese
is one of the most versatile dairy products world over and its
consumption is driven by the recognition of its vast nutritional
value and its availability in varied textures, aroma, and flavors.
Cheese is either consumed as a standalone food or used in preparing a
range of cuisines in various parts of the world. Changes in dietary
habits and rising popularity of fast food chains have boosted the
evolution of the market. The fast pace of urbanization, increasing
disposable incomes of consumers across developing regions, and a
large number of people dining out are key factors fuelling the growth
of the cheese
market.
In
recent years, dairy manufacturers and companies have made substantial
investments in improving the aging, processing, and cheese making
techniques, giving result to premium quality processes chees, useful
in preparing a variety of regional cuisines. Companies are also
focusing on innovative methods of cheese production that has not only
enhanced the nutritional value but also its appeal among populations
inclined toward a vegan diet. The global cheese market is projected
to rise at a CAGR of 4.40% from 2013 to 2019. Expanding at this pace,
the opportunities of the market is expected to reach US$105.13 bn by
the end of the forecast period.
What
are the factors fuelling the popularity of unprocessed cheese?
Based
on the product, the cheese market is bifurcated into processed and
unprocessed cheese. The market for processed cheese is growing at a
significant pace and currently exceeds that of the unprocessed cheese
segment. The growth of the processed cheese segment is attributed to
the substantial demand for processed cheese across retail chains in
emerging markets such as China and India.
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However,
in the coming years, there is an increasing demand for unprocessed or
natural cheese from developed countries of North America and Europe,
such as the U.S., the U.K., Germany, and Canada. The demand for
all-natural or unprocessed cheese is fuelled by the affinity of
cheese lovers toward the originality of taste.
Cheese
Journeys, creating an awareness of the world’s finest artisan
cheeses, and aimed at creating educational travel experience for food
lovers announced in June, 2017 a tour specifically for cheese-loving
tourists for Labor Day weekend near Philadelphia. Cheese-lovers
taking the tour can sample cheeses in greater Philadelphia region and
the adjoining Chester County. The excursion is scheduled for
September 1 - 4, 2017 and is will be co-hosted by Tenaya Darlington,
and Anna Juhl, the founder of the company. Turophiles taking the tour
will have exposure to the vibrant cheese culture in Southeastern
Pennsylvania. These factors are expected to favorably impact the
growth of the U.S. cheese market.
Which
geographic regions are anticipated to offer promising growth
prospects?
Geographically,
the market is segmented into Asia Pacific, North America, Europe, and
Rest of the World. Of these, Europe leads the global market. The
dominance of the regional market is attributed to the soaring demand
for cheese in several fast food chains and the inclusion of cheese in
daily diet among populations in various European countries. Several
emerging markets in Europe, such as Ukraine, Bulgaria, and Greece,
are poised to grow at a significant pace in the coming years.
Meanwhile,
the Asia Pacific market for cheese is expected to offer lucrative
growth avenues in the coming years. The regional market is forecast
to rise at a CAGR of 7.90% during 2013 - 2019. A major chunk of the
demand comes from countries such as China, India, and Japan. The
growth of the regional market is driven by fast rising disposable
incomes, burgeoning popularity of dairy products, and changing food
habits in emerging nations. The growing number of distribution
channels further bodes well for the regional market.
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