Cheese Market Projected to Reach US$ 160.0 Billion by 2033: Strong CAGR 5.4% | Future Market Insights
Posted On August 19, 2023
The cheese market is expected to expand from US$ 95.0 billion in 2023 to US$ 160.0 billion by 2033.
Processed cheese demand has increased in recent years due to factors such as the product’s improved shelf life, the appealing flavour profile of processed cheese, and the versatility it provides at a lower price point than other types of cheese on the market.
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Key Takeaways:
- The cheese market is expected to expand at a CAGR of 5.4% during the forecast period 2023 to 2033.
- Rising demand for vegan cheese, as well as increased sales of cheese for home applications, are expected to drive the market throughout the forecast period.
- North America dominated the cheese market.
Key Developments
- In March 2021, Dalter Alimentari Spa debuted a new cheese cut, new cheese matchsticks, a market-exclusive cut designed to deliver great results. This product meets the requirements of the food manufacturing and food service industries. It is commonly used as an ingredient in ready meals, salads, soups, and sauces, as well as fillings and stuffing.
- Glanbia completed the acquisition of Foodarom in August 2020. (Germany). Glanbia’s capabilities in tastes and nutritional solutions were strengthened as a result of the acquisition.
- In June 2022, Land O Lakes Cheese released Land O Lakes Shredded Cheese, a cheese line that includes seven cheese products in the grocery store’s dairy case section, in Wisconsin, United States. The cheese supply chain begins with Wisconsin farmers, who provide milk that is sent to the Land O’Lakes Kiel, Wisconsin plant where the cheese is made.
- In May 2021, Arla Foods, a Danish dairy cooperative, invested around US$ 8.2 million in the construction of a new cheese production facility in Japan. Arla announced plans to develop two extra ripening warehouses, new cheese…
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