The Cheese Market has a High Potential in Emerging Markets,
Chicago, Dec. 15, 2022 (GLOBE NEWSWIRE) — According to MarketsandMarkets “Cheese Market size is estimated to be valued at USD 88.7 billion in 2021 and is projected to reach USD 105.9 billion by 2026, recording a CAGR of 3.6% during the forecast period.
The cheese market is highly affected by the increasing size of the convenience & fast-food industry and innovative offerings by cheese manufacturers. The growth rate of the fast-food industry is significant owing to the changing lifestyles of people around the globe.
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The growth of the cheese market is brought forth through three major distribution channels: retail, food service, and food manufacturers. The food service industry has been severely changed by the COVID-19 pandemic, where most of the fine dining and casual dining restaurants had to shut down amid the lockdowns. However, there has been steady recovery and improvement, and the sales are now driven by an increase in the consumption of fast-food items, such as pasta, pizza, and burger, in Quick Service Restaurants (QSRs).
The cheese products segment is projected to dominate the market by type. Cheese products include solid and semi-liquid forms, such as slices, blocks, cubes, shredded, and grated, as well as cream cheese and curd cheese. End-user industries prefer cheese products over other forms of cheese due to its convenience in handling, storage, and comparatively longer shelf life. Due to its easy handling and rich flavours, cheese products are used in a wide range of food products, such as ready meals, snacks, bakery products, and the foodservice industry.
The animal source segment in the cheese market is projected to have a larger market size during the forecast period. Animal sourced cheese is a saturated market and accounts for a larger market…
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