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According to the latest report by IMARC Group, titled “Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global cheese market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global cheese market size reached US$ 83.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 120.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.12% during 2023-2028.
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Cheese is a dairy product that solidifies the milk protein casein obtained from cows, buffalo, goats, or sheep. The color, taste, and texture of the cheese primarily depend on milk, pasteurization, butterfat content, bacteria, mold, processing, and aging. Moreover, it is a rich source of nutrients, such as calcium, phosphorous, zinc, vitamin A and B12, and protein which are vital for building strong bones and muscles. It is available in diverse flavors and textures and has a longer shelf life as compared to other dairy products. Owing to these properties, cheese has become one of the most consumed fermented foods worldwide.
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Global Cheese Market Trends:
The market is primarily driven by the rising number of food chains across the globe. Cheese varieties, such as mozzarella, parmesan, feta, Roquefort, and cheddar, are widely used in various fast-food preparations such as pizzas, sandwiches and wraps. In addition, the increasing trend of westernization is escalating the demand for cheese in emerging economies such as China and India. This can also be attributed to rapid urbanization, the emerging trend of eating out, and the rising consumption of processed foods. Besides this, the leading market players are introducing low- or zero-fat cheese variants to attract health-conscious consumers.
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