Cheese Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Cheese is defined as food made from ripened curd of milk separated from the whey.

Sizing and Forecast

The cheese market size has grown strongly in recent years. It will grow from $274.36 billion in 2023 to $296.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to dairy farming, culinary tradition, global cheese production, global export and trade, marketing and branding.

The cheese market size is expected to see strong growth in the next few years. It will grow to $402.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to health-conscious consumer preferences, sustainability and ethical cheese production, artisan and specialty cheeses, digital marketing and e-commerce, global market expansion. Major trends in the forecast period include plant-based and vegan cheeses, aged and artisan cheese, cheese pairing and tasting events, clean label and natural cheeses, cheese boards and charcuterie.

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Segmentation & Regional Insights

The cheese market covered in this report is segmented –

1) By Type: Natural Cheese, Processed Cheese

2) By Product: Mozzarella, Cheddar, Feta, Parmesan, Roquefort, Other Products

3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments Covered: Cow Milk, Sheep Milk, Goat Milk, Buffalo Milk

Asia-Pacific was the largest region in the cheese market in 2023. North America was the second-largest region in the cheese market. The regions covered in the cheese market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing demand for local, sustainable, and organic food production is expected to positively impact the cheese manufacturing market during the forecast period. Organic food production, including organic dairy products, places a strong emphasis on consumer health, environmental protection, and animal welfare. Consumers are now becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognize as healthy. Across Europe, there is a very high import rate (especially for fruits and vegetables), as the rate of production is far lower than the consumer demand for organic produce. For instance, the Organic Trade Organisation, a US-based trade association that represents over 9,500 organic enterprises, reported in June 2022 that organic sales climbed by 2% between the years 2020 and 2021, topping $ 63 billion in comparison to prior years. Furthermore, through 2021, sales of organic dairy products and eggs remained fairly stable, but they still outperformed 2019 sales by roughly 11%. This growing demand for organic products such as cheese offers considerable opportunities for dairy products producers in both developed and developing countries, which is likely to drive the cheese manufacturing industry market during the forecast period.

Key Industry Players

Major companies operating in the cheese market include Groupe Lactalis S.A., Saputo Inc, The Kraft Heinz Company, Fonterra Group Cooperative Limited, Arla Foods amba, Savencia Fromage & Dairy, Frieslandcampina, Alfa SA.B. de C.V., Agropur cooperative, Land O’Lakes Inc., Dairy Farmers of America Inc., Bel Group, Sargento Foods Inc., Tillamook County Creamery Association, Cabot Creamery, Leprino Foods Company, Emmi Group, Glanbia plc, Murray’s Cheese, Cowgirl Creamery, Cypress Grove Chevre Inc., Darigold Inc., DCI Cheese Company, Gossner Foods, Groupe Bel, Marin French Cheese Co., Kraft Foods Group Inc., Alouette Cheese USA LLC, Organic Valley, Sartori Company, Schreiber Foods Inc., Swiss Valley Farms.

The cheese market report table of contents includes: