Growing taste for cheese

IN 2015, the global cheese market was valued at $80.5 billion, while volume was at 417.0 kilo tons, according to a report^* by Zion Research. The firm expects this market to reach $110.5 billion by 2021, growing at a CAGR of 6.2 percent between 2016 and 2021. Demand from the dairy and fast food industries is fueling the growth, according to Zion. 

Cheese makers are looking to increase their production for the Asia Pacific region, which is demonstrating strong growth rate. Zion points out emerging markets such as China and India as contributing to the development in APAC where urbanization, higher disposable incomes, increasing purchasing power, and other factors are shaping the market.

Processed cheese accounts for the larger share of the market and is mostly absorbed by the fast food industry; while demand for unprocessed or natural cheese comes from the dairy industry.

*Cheese (Unprocessed Cheese and Processed Cheese) Market by Types (Mozzarella Cheese and Cheddar Cheese): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021