Published By : 23 Dec 2016 | Published By : QYRESEARCH
With the rise in people consuming fast food on a daily basis and rise in binge eating, the cheese demand across the globe is also rising. The global cheese market is expected to rise in a considerable rate owing to the substantial rise in household budget and changing eating habits. The high consumption of cheese in countries such as China, India, and Brazil, is another important factor for the progress of the global market for cheese. Fondness for healthy cheese is an aspect that producers of cheese are focusing on in order to cater to the needs of the consumers for a healthy diet.
Cheese Manufacturers to Gain Growth Opportunities from Developing Countries
Developing countries are anticipated to exhibit an extensive rise in cheese consumption due to urbanization and changing food and lifestyle preferences along with the growing number of fast food chains. The growing fast food chains in developing countries is anticipated to lift the demand for cheese for it being an essential ingredient in fast foods. Consumers have amplified their food budgets with additional side products. Cheese manufacturers are thus focusing on capitalizing on these opportunities by increasing their distribution chains through several retail and marketing channels which includes supermarkets and hypermarkets.
Health Concerns to Act as Hindrance
With a rapidly changing lifestyle and an exhausting agenda, consumers are becoming choosier about their diet. The dearth of time for physical activities is impelling them to shift towards a healthy diet. Growing awareness about fat intake with the amount of cheese consumed is a major setback for the market’s growth. The low shell life of cheese is another factor that is expected to hinder the growth of the global cheese market.
A few of the chief companies in the global cheese market are Bongrain SA, Royal Frieslandcampina N.V., EMMI, Fromageries Bel S.A., Fonterra Co-Operative Group Ltd, and Mondelez International Group.
The global cheese market is likely to exhibit a 4.40% CAGR from 2013 to 2019 with a valuation of US$105.13 bn in 2019 and rising from a valuation of US$79.57 bn in 2012.