Cheese Market Projected to Reach 29,398.75 Kilotons by 2023
The global cheese market is forecast to grow by 3.90% annually, reaching 29,398.75 kilotons by 2023. Growth is driven by increasing demand for protein-rich foods and evolving dietary habits.
The global cheese market is projected to reach 29,398.75 kilotons by 2023, expanding at a compound annual growth rate of 3.90% from 2019. According to a report by Market Research Future (MRFR), this growth is fueled by consumer interest in protein-rich foods and shifting dietary patterns.
The increasing population and urbanization contribute to higher demand in the fast-food and processed food sectors where cheese is a key ingredient. The sustained popularity of dishes like pizza and pasta, along with the ready availability of milk, are also significant growth drivers. Fresh cheese and cheddar cheese are expected to maintain their dominant positions.
Whole cow's milk is anticipated to remain the primary source for cheese production, holding over a 65% market share. The application of cheese in fast food snacks and bakery items is also set for considerable expansion. While the perishable nature of cheese presents a challenge, its widespread use across the food industry is expected to mitigate these concerns.
Key players in the global cheese market include Lactosan A/S, Dairiconcepts L.P., Kerry Group Plc, and The Kraft Heinz Co. The market is segmented by source, type, product, and application.