Cheese Market - How to Leverage on Food & Beverages Industry During COVID-19 Crisis?
The global cheese market size is
projected to reach USD 155.49 billion by 2027, exhibiting
a CAGR of 3.7% during the forecast period. The emergence of
vegan cheese products will play an instrumental role in the development of this
market, observes Fortune Business Insights™ in its report, titled “Cheese
Market Size, Share & COVID-19 Impact Analysis, By Source (Animal-based
and Plant-based), Product Type (Cheddar, Mozzarella, Parmesan, Feta, and
Others), Type (Processed, Natural, Block, Spreadable, and Hard and Soft
Cheese), Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores,
Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027”. With
consumer food preferences steadily shifting towards vegan food products,
several vegan cheese brands are gaining traction in this industry. 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, or Macadamia nuts. Similarly, California-based Miyoko’s Kitchen
makes handcrafted vegan cheese items that are gluten-free and consist of
organic ingredients such as coconut oil and nuts. Thus, the growing
availability of natural cheese varieties is expected to broaden market horizons
in the coming years.
Market Driver
Potential Benefits of Cheese for
Diabetics to Create New Opportunities
Cheese offers many 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, 1
ounce of parmesan cheese contains 10 grams of proteins, while cheddar consists
of 7 grams.
Moreover, academic research has shown
that a balanced intake of cheese daily can lower the risk of developing type2
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.
Regional Insights
North America to Showcase Excellent
Growth Trajectory; Europe to Dominate Market Share
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 USD 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.
Competitive Landscape
Expanding Consumer Access to Novel
Cheese Products to be the End Goal for Key Players
Leading companies in the cheese
industry are leveraging their distribution channels to improve and expand
consumer access to their innovations. To attain this goal, key players are
making strategic investments and partnering with retail outlets to strengthen
the visibility of their products and thus cement their position in the market.
Browse Detailed Summary of Research
Report with TOC:
https://www.fortunebusinessinsights.com/cheese-market-104293
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