The global cheese market revenue is projected to grow at a compound annual growth rate (CAGR) of 4.61%, increasing from USD 187.42 billion in 2023 to USD 287.12 billion by 2032, with an interim valuation of USD 191.94 billion in 2024. This data is sourced from Fortune Business Insights™’s report, Cheese Market, 2024-2032.
The demand for cheese is driven by its widespread availability, versatility, and the growing popularity of ethnic cuisines, such as Mexican and Italian, where cheese plays a central role. Mozzarella and cheddar remain the most widely consumed cheese varieties.
Cheese consumption is on the rise due to its versatility and the wide variety of options available. Additionally, the growing popularity of ethnic cuisines, particularly Italian and Mexican, which incorporate significant amounts of cheese, is further driving the growth of the cheese market.
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List of Key Players Mentioned in the Report:
Segments:
Extended Shelf Life and Increasing Demand for Natural Cheese to Drive Market Growth
Market Segmentation by Type: The cheese market is primarily divided into two segments: processed cheese and natural cheese. Consumer preferences are increasingly shifting toward natural cheese, driven by artisan producers who incorporate herbs, flavors, fruits, spices, and nuts. However, processed cheese continues to enjoy significant popularity, especially in developing regions such as the Middle East and Africa, Asia Pacific, and South America.