(MENAFN- GlobeNewsWire - Nasdaq) Portland, OR, Oct. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cheese market generated $156.9 billion in 2020, and is expected to reach $199.7 billion by 2030, registering a CAGR of 2.3% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.
Increase in number of quick-service restaurants, rise in demand for protein-rich food, and surge in consumption of organic cheese drive the growth of the global cheese market. However, increase in obesity rates and health concerns along with counterfeiting of cheese hinder the market growth. On the other hand, rise in demand for fortified cheese and sustainable packaging presents new opportunities in the coming years.
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- Production activities of cheese have been stopped partially or completely during the Covid-19 pandemic due to unavailability of raw materials and hindrances in the supply chain.
- The distribution channels such as supermarkets, hypermarkets, specialty stores, and others were closed during the lockdown. This resulted in reduced volumes of sales and overall revenue.
- The demand is estimated to increase during the post-lockdown as distribution channels begin their operations and the supply chain recovers.
The report offers detailed segmentation of the global cheese market based on source, type, product, distribution channel, and region.
Based on source, the cow segment accounted for the largest market share in 2020, contributing to more than four-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the buffalo segment is projected to witness the largest CAGR of 3.6% from 2021 to 2030.
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Based on type, the natural segment contributed to the highest share in 2020, accounting for more than two-thirds of the global cheese market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the processed segment is projected to portray the highest CAGR of 2.8% from 2021 to 2030.
Based on region, Europe contributed to the highest share in 2020, holding around half of the total share, and is estimated to maintain its lead position by 2030. However, Asia-Pacific is expected to register the fastest CAGR of 2.7% during the forecast period.
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Leading players of the global cheese market analyzed in the research include Arla Foods, Fonterra Food, Bel Group, Lactalis Group, Kraft Heinz, Britannia Industries Limited, SAVENCIA SA, Saputo Inc., Associated Milk Producers Inc., and Gujarat Cooperative Milk Marketing Federation Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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