Consumption of cheddar cheese in sufficient amounts can be an optimum source of daily nutrition for adult consumers. Increasing influence of dairy products in consumer diets continues to pave way for sales of cheddar cheese products. However, manufacturers of cheddar cheese are expected to witness a sluggish growth in the years to come. Comparative studies that gauge the benefits over health risks of consuming highly processed dairy products such as cheddar cheese will have an assertive impact on the growth of global cheddar cheese market. Companies are expected to shift their focus towards development of new products for cheddar cheese, exploring new ways to improve taste and popularity of this country cheese.
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The report offers an overview of the global cheddar cheese market. This comprises an introduction to the market, along with a standard definition of the product – cheddar cheese. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global cheddar cheese market, the report provides updates about market opportunities, which can benefit leading manufacturers of cheddar cheese. With continuous evolution of the food & beverage sector, keeping a record of latest developments and trends is fundamental for cheddar cheese manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Global Cheddar Cheese Market: Forecast Highlights
- Almost 40% of cheddar cheese produced in the world is sourced from goat milk. This trend will prevail throughout the forecast period, and the global market for cheddar cheese will also witness a gradual uptick in demand for cattle milk-sourced cheddar cheese products.
- Being a refrigerator staple in the UK, Europe will continue to remain the largest market for cheddar cheese through 2022. Increasing diary production, coupled with rising levels of nutrient deficiency among European consumers, will boost the sales of cheddar cheese in Europe throughout the forecast period.
- On the other hand, the Asia-Pacific excluding Japan (APEJ) region will showcase fastest growth for cheddar cheese market. Over the forecast period, the cheddar cheese market in APEJ region will expand at more than 3% CAGR, which is relatively higher growth compared to estimates on lucrative regions such as Europe and North America.
- In 2017, more than US$ 8 Bn worth of cheddar cheese will be sold in the global market in the form of cheese blocks. As the demand for blocks of cheddar cheese rises, that of cheddar cheese sprays declines. The report distinctly projects a listless growth in sales of cheddar cheese sprays through 2022.
- Cheddar cheese sold in food & beverage processing units will contribute to more than US$ 16 Bn revenues by 2022-end. Food & beverage processing will not only be the largest application for cheddar cheese, but will also reflect a relatively speedy growth compared to revenues accounted by Horeca and household applications.
- The report also projects that wholesale trade, distributor sale and direct selling will be collectively viewed as largest sales channel for cheddar cheese, procuring more than one-third of global revenues through 2022.
Wholesale Trade – Largest Sales Channel for Cheddar Cheese
In 2017, over one-third of global revenues will be accounted by direct sales of cheddar cheese. Wholesale, direct selling and distributors will be collectively accountable for procuring highest revenues in the global cheddar cheese market through 2022. Supermarkets will also witness an uptick in cheddar cheese sales, bringing in nearly US$ 8.5 Bn in revenues by the end of 2022.
The report also projects that food & beverage will be the largest application of cheddar cheese, and will contribute nearly US$ 16.5 Bn in global revenues by the end of 2022. In the future, a majority of cheddar cheese will be sourced from goat milk. However, towards the latter half of the forecast period, the global demand for cattle milk-sourced cheddar cheese will witness a surge, albeit, marginal.
Competition Tracking
Key manufacturers of cheddar cheese in the global market are profiled in the report, which include Savencia SA, Sargento Foods Inc., Koninklijke FrieslandCampina N.V, Mondelez International, Inc., Gujarat Cooperative Milk Marketing Federation Ltd., Groupe Lactalis S.A., Fonterra Co-operative Group Limited, Almarai - Joint Stock Company, Arla Foods amba, and Associated Milk Producers, Inc.
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