The applications of cheese in the culinary traditions around the world are increasing due to its growing popularity among the consumers. Owing to this, the global cheese market is expected to grow at a significant rate in the coming years.
The latest report by IMARC Group titled, “Cheese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global cheese market has grown at a CAGR of 2.1% during 2009-2016, reaching a volume of around 19 Million Tons in 2016. Cheese is made chiefly from four basic ingredients namely, milk, salt, lactic acid bacteria and rennet. However, various combinations of herbs, spices, seasonings and blends are used to create different varieties of cheeses based on the cultural preferences. Some of the most popular cheese varieties available around the world include gouda, cheddar, mozzarella, asiago, feta, gorgonzola and American cheese. According to the report, the market is further expected to at a CAGR of 6.5% during 2017-2022, reaching a volume of around 26 Million Tons by 2022.
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There are a number of factors which are currently driving the growth of the global cheese market. The increasing popularity of cheese among the consumers is the major factor, as a result of which cheese is being used in a number of culinary traditions. Apart from this, considering increasing health awareness among the consumers, cheese makers are introducing new varieties of cheese with enhanced taste and nutritional value. For instance, many varieties of cheeses are a rich source of calcium, high-quality protein, niacin, phosphorus and vitamins A and B12. Owing to this, cheese provides several health benefits including increased absorption of minerals from the digestive tract, strengthening of the skeletal system, prevention from cardiovascular diseases and facilitating a smooth functioning of the nervous system. Apart from this, as cheese is lactose-free it also proves beneficial for those who are lactose intolerant or allergic to milk products. Some of the other factors influencing the growth of the market are rising population, increased disposable incomes, product premiumisation, etc.
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The report has segmented the market on a regional basis. Some of the regions covered in the report include European Union, Latin America, Asia, Eastern Europe, North America and Oceania. Amongst these, the European Union represents the largest producer of cheese, accounting for almost half of the total global production. Apart from this, the report also provides a thorough analysis of the competitive landscape of the market. Some of the major players operating in the market are Lactalis Group, Fonterra, FrieslandCampina, Dairy Farmers of America, Arla Foods, Bongrain SA, Land O’Lakes, Hilmar Cheese Company and MolkereiAmmerland.
This report provides a detailed roadmap for setting up a cheese manufacturing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the essential aspects of the cheese industry. This ranges from a comprehensive view of the global cheese market to minute details of the industry performance, processing & manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the cheese industry in any manner.
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