Cheese Market - Global Industry Analysis

Albany, NY -- (SBWire) -- 04/22/2019 --A majority of cuisines today use cheese to make food rich as well as to enhance its nutritional value. Owing to this reason alone, the demand for cheese has witnessed a spike. There has been a considerable rise in the demand and consumption of cheese as the global economy is stabilizing, giving the developing nations a high purchasing power. The global market is also expected to thrive due to product innovations, diversification, and rising health concerns that are expected to create a demand for organic dairy products.

The researchers have thoroughly studied the global cheese market to provide the readers a granular view of the market dynamics governing the overall market. The report includes a SWOT analysis, which highlights the strengths, weaknesses, opportunities, and threats impacting the segments of the global market. For an in-depth understanding of the competitive landscape of the global market, researchers have used Porter's five forces analysis. This market measurement tool sheds light on the bargaining power of suppliers and buyers, it estimates the threat of new entrants, and explains the intensity of competition in the overall market.

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Global Cheese Market: Trends and Opportunities

According to the research report, the global cheese market is expected to reach a value of US$105.13 bn by 2019 as compared to US$79.57 bn in 2012. Analysts predict that the global market will progress at a CAGR of 4.40% between 2013 and 2019. The steady growth of the global market will be attributable to the unstoppable pace of the fast food industry. The emergence quick-service and fast-food industry, which caters to the changing eating habits of people, augurs well for the growth of the global cheese market.

Changing lifestyles and preference for convenience over convention with regards to meals has shaped the fast food industry and augmented the demand for cheese. Thus, a burgeoning demand for food items such as pizzas, burgers, and sandwiches has collectively led to a significant growth of the global cheese market in recent years.

Global Cheese Market: Region-wise Outlook

Geographically, the global cheese market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, the Europe held a dominant share of 38.8% in the global market in 2012 due to high consumption of various types of cheeses. The region witnessed a high demand for unprocessed cheese due to rising health concerns amongst consumers. Furthermore, the unprocessed cheese also offers a better taste, which is a significant factor propelling its demand in the region. Analysts predict North America will follow Europe's lead as the region witnesses usage of cheese in staple diet. A strong presence of players in the region is also anticipated to play a major role in defining the success of cheese market in North America.

The tremendous rise in the fast food industry worldwide, rapid urbanization, changing lifestyles, and increasing disposable income resulting in a rise in the number of people eating outside are some of the major factors that are expected to fuel the growth of the global cheese market throughout the forecast period. Moreover, the growing popularity of cheese among adults as well as kids in developing countries is considered as the biggest opportunity for players operating in the market. In addition, the growing number of distribution channels is projected to boost sales in the global cheese market.

On the flip side, rising health concerns due to an unhealthy diet, short shelf life of the product, and unstable economic conditions across the globe are estimated to hamper the growth of the global cheese market in the coming years.

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By geography, the global cheese market has been classified into North America, Europe, Asia Pacific, and Rest of the World. Among these regions, in 2012, Europe dominated with a 38.8% share in the global cheese market. North America held the second position, holding a 32.7% share in the global cheese market. On the other hand, the Asia Pacific market for cheese is projected to exhibit a 7.90% CAGR between 2013 and 2019. Japan, China, and India are estimated to contribute substantially towards the growth of the market throughout the forecast period.