The global cheese market was valued at USD 187.42 billion in 2023 and is projected to grow from USD 191.94 billion in 2024 to USD 287.12 billion by 2032, reflecting a CAGR of 4.61% during the forecast period.
In 2023, Europe dominated the cheese market with a commanding 49.13% share. The U.S. cheese market is also poised for significant growth, projected to reach a valuation of USD 62.66 billion by 2032, fueled by its extensive use in fast food staples like pizza, sandwiches, and other popular dishes.
The growth in global cheese consumption is driven by its versatility and the broad range of cheese varieties available. Moreover, the rising popularity of ethnic cuisines such as Italian and Mexican, where cheese is a central ingredient, further bolsters market expansion.
Information Source: https://www.fortunebusinessinsights.com/cheese-market-104293
List of Key Players Mentioned in the Report:
Market Segmentation:
Longer Shelf Life and Rising Demand for Natural Cheese Propel Market Growth
The cheese market is segmented into processed and natural cheese types. Artisan producers emphasize the use of natural flavorings like herbs, fruits, spices, and nuts, fueling the demand for natural cheese. Conversely, processed cheese remains highly popular in developing regions, including South America, Asia Pacific, and the Middle East & Africa.