Cheese global market trends
The global cheese market size is projected to reach US$155.49 billion (AU$210 billion) 2027, exhibiting a CAGR of 3.7% during the forecast period, a report found.
The emergence of vegan cheese products will play an instrumental role in the development of this market, observes Fortune Business Insights in its report.
With consumer food preferences shifting towards vegan food products, several vegan cheese brands are gaining traction in this industry particularly in the North American market. For example, New York-based Treeline Cheese makes 100% dairy-free probiotic cheese varieties. Another such company is Dr. Cow, a vegan cheese company based in New York that makes raw, organic and non-GMO cheeses from Indonesian cashew nuts, Brazilian nuts or Macadamia nuts.
The North American cheese market is expected to expand and grow at a considerable CAGR during the forecast period owing to the surging demand for clean-label and sustainable dairy products. Consumer inclination towards safer, natural and healthier food products over the past few years has impelled companies in the region to develop natural food products, which is feeding the regional market growth. In 2019, the region’s market size stood at US$29.08 billion.
Europe, however, is anticipated to dominate the cheese market share in the forthcoming years due to the well-entrenched foodservice industry in the region. Moreover, increasing consumption of processed cheese and growing demand for vegan milk products will further boost the market prospects in the region. In Asia–Pacific, rising disposable incomes and spreading awareness about the health benefits of cheese will propel the market in the coming years.
A market driver of the cheese sector has and will continue to be the potential benefits of cheese for diabetics, Fortune Business Insights said.
Cheese is claimed to offer health advantages to people with diabetes as it contains not only fats but also proteins and calcium. Proteins, for instance, are critical in balancing the blood glucose spikes that diabetics often experience after eating fatty foods. Most cheeses have a healthy amount of proteins and almost no carbohydrates. For example, 28 g of parmesan cheese contains 10 g of proteins, while cheddar consists of 7 g.
Moreover, academic research has shown that a balanced intake of cheese daily can lower the risk of developing type 2 diabetes.
For example, a study published in the American Journal of Clinical Nutrition in 2012 revealed that eating two cheese slices per day can reduce the risk of diabetes by 12%.
A more recent study conducted by the University of Alberta in Canada in 2019 found that eating regular or low-fat cheeses can aid in regulating blood sugar levels and improve insulin sensitivity. Thus, as awareness about the benefits of cheese for diabetics spreads, its consumption is likely to remain high for the foreseeable future.
Leading companies in the cheese industry are leveraging their distribution channels to improve and expand consumer access to their innovations.
For example, in August 2020, West Australia-based Brownes Dairy announced the production of cheddar cheese from fresh milk procured from dairy farmers in Western Australia. This move is claimed to make Brownes the only dairy company in West Australia to make traditional cheddar cheese from local milk in 14 years.
Another example was California-based Miyoko’s Creamery, which introduced a plant-based mozzarella cheese product in February. The cheese looks and tastes like its regular counterpart and can be used in Italian-style dishes, steak sandwiches, lasagnes and pizzas.
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