Processed cheeses such as Cheddar, Parmesan, and Romano have seen an increase in popularity in recent years due to factors such as the product longer shelf life, appealing flavor profile, and adaptability at a lower cost than other varieties of cheese which drives the cheese market. Processed cheese, in addition to its constant use in fast food products, is used in local cuisines because of its distinct flavor profile. In addition, the rise of private brands in developing nations, as well as demand for western cuisine, has bolstered the market for processed cheese. In addition, the online market for the buying of food items, including cheese, has grown rapidly in the previous 3-4 years as internet access has increased. This area has attracted a number of vertical experts, like as Amazon, Walmart, Carrefour, and others, who are riding the wave of e-commerce growth and vying for a piece of the online cheese pie. The global fast-food business, often known as Quick Service Restaurants (QSRs), is seeing rapid growth. Cheese is in significant demand as a key ingredient in these industries' numerous food products. As a result, big fast-food franchises such as Domino's Pizza, Inc. (US), Pizza Hut of Yum! Brands (US), and Papa John's International, Inc. are driving up cheese demand (US). Changing lifestyles, such as an increased reliance on ready-made or ready-to-eat meals due to busier schedules and an increase in global demand for packaged goods, have spurred demand for fast food products, which has fueled demand for cheese.

Key Highlights:

• In January 2022, Organic Garage Ltd., one of Canada's leading independent organic grocers, is pleased to announce that its plant-based food company, Future of Cheese Inc., is set to launch its own e-commerce store in the first quarter of this year. , where dairy alternative products will be sold across Canada.
• In November 2022, Plan B Foods, a Mumbai-based food tech company, announced the launch of a vegetarian cheese range with slices for consumers across India. The cheese slices are available in two varieties – Cheddar and Classic – while its other product categories include, Cheddar Block, Mozzarella Block, Parmesan Block, Shreds and Parmesan Seasoning Powder.
• In October 2022, global food Tech Company Armored Fresh announced the U.S. launch of its innovative plant-based cheese products in more than 100 supermarkets throughout New York City.

Region Analysis:

The European cheese market is the world's largest, and despite extremely high per capita consumption, market growth has remained attractive and consistent. Cheese has traditionally had greater export prospects than any other dairy product, because there has always been a high willingness to pay for high-quality European cheese, and the impact of higher raw-material costs is less troublesome. Because of the market's maturity, prominent companies' strategy focus is on consolidating present market positions by purchasing add-ons and facilitating new and creative product development in order to stay ahead of the competition.

Key Development:

• Dalter Alimentari Spa released a new cheese cut product, cheese matchsticks, in March 2021. The needs of the food production and restaurant industries are met by this product. It's commonly used in ready-to-eat meals, pre-made salads, soups, and sauces, as well as fillings and stuffings.
• Glanbia finalised the acquisition of Foodarom in August 2020. (Germany). Glanbia's flavour and nutritional solutions capabilities were strengthened as a result of the acquisition.

Segmentation:

Cheese Market was valued at US$ 97.8 Billion in 2024 and is projected to grow at a CAGR of 3.60% to reach US$ 139.7 Billion by 2034.cheese market has been segmented on the basis of product type, process, source, type, distribution channel and region.

• On the basis of product type, the target market classified into processed cheese, cheese spreads, flavoured cheese, and specialty cheese.
• On the basis of process, the target market categorized into mozzarella, cheddar, feta, roquefort, and others.
• On the basis of source, the target market categorized into animal based and plant based.
• On the basis of process, the target market categorized into processed, natural, block, spreadable and hard & soft cheese.
• On the basis of distribution channel, the target market categorized into supermarkets/hypermarkets, specialty stores, convenience stores and online retail.

Competitive Analysis:                                                                                                  

Key players in the cheese market includes Arla Foods, Bel Group, Fonterra Food, Kraft Heinz, Lactalis Group, SAVENCIA SA, Britannia Industries Limited, Associated Milk Producers Inc., Saputo Inc., and Gujarat Cooperative Milk Marketing Federation Ltd.

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