Cheese Market Size, Share, Growth Insights and Forecast to 2032

The global cheese market size was valued at USD 187.42 billion in 2023. The market is expected to expand from USD 191.94 billion in 2024 to USD 287.12 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.61% during the forecast period.

The rise in cheese consumption is attributed to its availability, versatility, and the growing popularity of ethnic cuisines such as Mexican and Italian, which use cheese extensively. Mozzarella and cheddar are the two most widely consumed types of cheese.

This data is sourced from Fortune Business Insights™ in their research report titled “Cheese Market, 2024-2032.”

Information Source: https://www.fortunebusinessinsights.com/cheese-market-104293

Segments:

Longer Shelf Life Increased Demand for Natural Cheese to Propel the Market Growth

On the basis of type, the market is classified into processed and natural. Artisan manufacturers place equal importance on the texture and use of herbs, flavor, fruits, spices, and nuts instead of artificial ingredients for flavoring, thereby increasing the demand for natural cheese. Processed cheese has been highly adopted in developing South America, Asia Pacific, and the Middle East & Africa regions.

Extensive Availability of Animal-based Cheese to Dominate the Market Share

Based on source, the market is bifurcated into plant-based and animal-based. The plant-based segment is segmented into cashew, soya, almond, and others, whereas the animal-based market is cattle, camel, sheep, and goat.

The animal-based segment is anticipated to drive market growth owing to the launch of many attractive packaging and longer shelf life. The plant-based segment is also projected to mark its dominance owing to different varieties.

Increasing Use of Mozzarella in Various Food Products and Cuisines Propels the Sales

According to product type, the market is divided into feta, cheddar, parmesan, mozzarella, and others. The cheese's flavor and texture gets impacted by the type of milk used and the production process.

Among all, mozzarella is anticipated to hold the largest cheese market share as it is widely used for pizza, home-cooked pasta, risotto, and enchiladas.

Availability in Different Forms of Block Cheese Leads to the Market Growth

As per form, the market is divided into the spreadable, block, and others.

Block cheese requires longer ripening periods and is highly nutritious, leading to its higher market share. Block cheese is found in two forms such as hard and soft forms.

Spreadable cheese is gaining popularity among consumers in the market as it can be easily applied to food items such as cakes, snacks, and sandwiches.

Availability of Product and Product Choices to Drive the Market Growth

Based on distribution channel, the market is distributed into specialty stores, online retail, supermarkets/hypermarkets, and convenience stores.

Supermarkets/Hypermarkets segment leads the distribution channel as it allows consumers to purchase their products from a wide range of products and even try the free sample offered in some of these outlets.

The global market is analyzed across Europe, North America, Asia Pacific, South America, and the Middle East & Africa

Report Coverage:

The report offers:

Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into the regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments such as product launches, partnerships, mergers, and acquisitions.

Drivers and Restraints:

Increasing Demand for Plant-based Cheese to Drive the Market Growth

Plant-based cheese, made primarily from cashew, soy, almond, and other non-dairy sources, is gaining popularity due to the rising trend of veganism and increasing demand for plant-based foods. This growing interest in veganism and the expansion of plant-based product offerings are expected to drive market growth for cheese during the forecast period.

However, the market may face challenges due to the health risks associated with casein, a protein found in dairy cheese. Casein allergy can lead to issues such as acne, headaches, inflammation, and rashes, which are likely to hinder market growth.

Regional Insights:

Increasing Investments and Partnerships to Propel Market Growth in Europe

European consumers are increasingly opting for healthy foods to support their well-being and physical health, with a preference for organic and non-GMO products. This trend is positively influencing the cheese industry in the region.

In North America, the demand for nutritious and convenient food products is driving market growth. The region is a significant market, largely fueled by millennials whose evolving snacking and dessert habits contribute to increased cheese consumption.

Competitive Landscape:

Launching of New Products by Key Players to Stay Competitive in the Market

Key industry players are employing diverse competitive strategies, including new product launches, to help market participants create business opportunities. These strategies aim to enhance product reach and expand distribution channels, thereby supporting growth and diversification in the market.

Key Industry Development: