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DUBLIN--(BUSINESS WIRE)--Nov 10, 2022--
The "Cheese Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global cheese market as it emerges from the COVID-19 shut down.
The global cheese market is expected to grow from $192.81 billion in 2021 to $211.02 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The market is expected to grow to $289.57 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%.
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The cheese market consists of sales of cheese by entities (organizations, sole traders, and partnerships) that produce cheese products (except cottage cheese) from raw milk and/or processed milk products, and cheese substitutes from soybean and other non-dairy substances. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
The main types of cheese are natural cheese and processed cheese. Natural cheese is a word that refers to cheese created from milk that has had salt, enzymes, and flavorings added to it. The different types of products include mozzarella, cheddar, feta, parmesan, Roquefort, others and involve various sources such as cow milk, sheep milk, goat milk, buffalo milk. it is distributed through various channels including supermarkets/hypermarkets, convenience stores, e-commerce, others.
Asia Pacific was the largest region in the cheese market in 2021. North America was the second-largest region in the cheese market. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The increasing demand for local, sustainable and organic food production is expected to positively impact the cheese manufacturing market during the forecast period. Organic food production including organic dairy products places a strong emphasis on consumer health, environmental protection, and animal welfare. Consumers now are becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognize as healthy. Across Europe, there is a very high import rate (especially for fruits and vegetables) as the rate of production is far lower than the consumer demands for organic produce.
For instance, according to the Soil Association, sales of organic products in the UK increased by 4.5% in 2019 to reach £2.45 billion. Similarly, sales of organic food in the US increased by 5.9% to reach $47.9 billion, according to the 2019 Organic Industry Survey. This growing demand for organic products such as cheese offers considerable opportunities for dairy products producers in both developed and developing countries, thus likely to drive the cheese manufacturing industry market during the forecast period.
Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.
Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the cheese manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The internet of things (IoT) technology is increasingly being used to track dairy products and ensure safe product handling. IoT technology consists of a network of devices, vehicles, or other items that continuously exchange data and provide insights into a process or system. This technology is being used to track ingredients being used in products.
Equipment connected to the internet in trucks and storage coolers can be used to monitor dairy products and tag them with environmental conditions like temperature or location that provide information about safe product handling during transportation. For instance, the Chinese government implemented the National Food Quality Safety Traceability Platform, using IoT technology to improve the quality and safety of food production supply chains.
For more information about this report visit https://www.researchandmarkets.com/r/6s4lo5
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INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/10/2022 10:16 AM/DISC: 11/10/2022 10:16 AM
http://www.businesswire.com/news/home/20221110005797/en