Published By : 13 Jan 2016 | Published By : QYRESEARCH
Cheese is a commonly used dairy product in many cuisines around the world. It is eaten either on its own or in conjunction with various other types of food such as salads and various types of fast food. The rising demand for fast food is a crucial factor propelling the global cheese market. While unprocessed cheese has remained the leader in the global market due to it being the historically established type of cheese, processed cheese is expected to emerge as the leader in the global cheese market in the coming years due to the strong demand for various processed cheeses in fast food.
Rising urbanization in dynamic economies such as China and India in Asia Pacific, Saudi Arabia in the Middle East, Ukraine and Bulgaria in Eastern Europe, and Brazil and Argentina in Latin America is leading to a high demand for various types of Western fast foods. Western snack items such as burgers, hotdogs, and sandwiches are steadily gaining popularity in these emerging regions, and since cheese, and particularly processed cheese, is a prime ingredient of these preparations, the demand for processed cheese is rising proportionately. Many local players in these emerging regions are also catering to the rising domestic demand by coming up with unprocessed cheese brands.
As a result, the global cheese market is expected to be dominated by the Asia Pacific market in the coming years. Due to rising demand from emerging countries such as China, India, Indonesia, and South Korea, the APAC cheese market is expected to exhibit a higher CAGR than that of the global cheese market till the end of the ongoing decade. Despite the impressive surge expected to be exhibited by the Asia Pacific market, the Europe market for cheese is expected to remain the leader in the global market, due to longstanding traditions of the usage of cheese in several regional cuisines. North America, where the fast food industry has remained strong for several decades, is the second largest regional market for cheese.