Transparency Market Research announces the publication of a new market research study made available on the company’s website. The research report provides a comprehensive analysis of the global cheese market, including the product segmentation, major growth drivers, restraints, current trends, geographical segmentation, and competitive scenario. The 196-page research report, titled “Global Cheese Market – Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” provides insightful recommendations given by industry experts to guide the major players in formulating their policies and strategies effectively.
The global cheese market is envisaged to witness a sizable rise, due to its popularity on account of its nutritive value, taste, and various gourmet applications. Cheese, due to its texture and aging properties, is witnessing rising demand across the world. On account of factors such as the increased consumption of processed food, the trend of eating out, urbanization, and the rising disposable incomes, the worldwide cheese industry is set to witness considerable growth. Being used in cooking on a wide basis, cheese is expected to be used even more frequently due to the increased number of fast food consumption and changes in eating patterns all over the world.
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The global cheese market is estimated to rise from US$79.57 bn in 2012 to US$105.13 bn by 2019, exhibiting a 4.40% CAGR from 2013 to 2019, says the report. In the last few years, cheese has gained immense popularity, thanks to its nutritional value. Currently, cheese is accepted and consumed as a chief ingredient in cooking. The variations in the texture and taste of cheese, along with its aging and processing techniques, have resulted in a huge variety of high-quality cheeses sold around the world.
The tremendous rise in the fast food industry worldwide, rapid urbanization, changing lifestyles, and increasing disposable income resulting in a rise in the number of people eating outside are some of the major factors that are expected to fuel the growth of the global cheese market throughout the forecast period. Moreover, the growing popularity of cheese among adults as well as kids in developing countries is considered as the biggest opportunity for players operating in the market. In addition, the growing number of distribution channels is projected to boost sales in the global cheese market.
On the flip side, rising health concerns due to an unhealthy diet, short shelf life of the product, and unstable economic conditions across the globe are estimated to hamper the growth of the global cheese market in the coming years.
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By geography, the global cheese market has been classified into North America, Europe, Asia Pacific, and Rest of the World. Among these regions, in 2012, Europe dominated with a 38.8% share in the global cheese market. North America held the second position, holding a 32.7% share in the global cheese market. On the other hand, the Asia Pacific market for cheese is projected to exhibit a 7.90% CAGR between 2013 and 2019. Japan, China, and India are estimated to contribute substantially towards the growth of the market throughout the forecast period.