Market Trends of Cheese Industry
Rising Demand For Processed Cheese
- Demand for using processed cheese, such as Cheddar, Parmesan, and Romano, has increased in recent years due to factors such as the enhanced shelf-life of the product, the attractive flavor profile of processed cheese, and the versatility it offers at a much more economical price point than other types of cheese present in the market.
- Due to its unique flavor profile, processed cheese is used in local cuisines apart from its regular use in fast food products. Also, the rise in private labels in developing countries and the demand for western cuisine have boosted the demand for processed cheese in the market. According to Statistisches Bundesamt, in 2021, processed cheese consumption amounted to approximately 120.5 thousand tons.
- In addition, with the increasing Internet penetration, the online market for purchasing food items, including cheese, has seen rapid growth globally in the last three to four years. This category has attracted a few vertical specialists like Amazon, Walmart, Carrefour, etc. They are competing for a significant share of the online cheese market while riding the wave of increasing e-retailing growth. As a result of the rising global demand for processed cheese, the product is being manufactured in more places than ever before.
- According to Statistics Canada, processed cheese available for consumption per person in Canada was approximately 1.92 kilograms which was higher than that of the previous year, i.e., 1.89 kilograms in the year 2020.
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North America Holds Prominent Share
- The North American region is the fastest-growing region in the market, owing to the increasing disposable income and expansions of domestic companies. Additionally, the North American cheese market is thriving due to the increased government support and the popularity of various foods that use cheese, such as pizzas, burgers, pasta, and others.
- The cheese processors rely on continuous innovation to remain competitive in domestic and international markets. In 2022, the Honourable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, announced that the Government of Canada would invest up to USD 2,038,092 in Quality Cheese in Vaughan, Ontario, through the Dairy Processing Investment Fund.
- Furthermore, Quality Cheese manufactured popular Italian specialty cheeses and cheese products for the North American market with cow, goat, and buffalo milk. The company was able to meet rising consumer demand for its products by introducing new production lines, cheese cutting, conditioning, ripening equipment, and packaging and storage tools.
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