World Cheese Market to Touch $118 Billion by 2019

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World Cheese MarketGlobal Cheese Industry to grow in over 70 countries

Cheese is a food product derived from milk. It is available in various textures and flavors, forms according to their producing pattern. There are different sorts of cheese in the global market which are manufactured using traditional preparation as well as the modern methods according to the countries it is made in. Cheese in most forms melts at the cooking temperature, the milk used for the preparation is first acidified and then an enzyme Rennet is added to the liquid. The solid from this is taken out separately and they are pressed and formed into the final form. This final product is known as “Cheese”. The origination of cheese is still a mystery as there is no record of where it all began; many countries have their own versions about the topic.

However, it was only in 1815 when the industrial production had begun in the first factory set-up, this was in Switzerland. This production later saw success in the US when in 1851 a dairy farmer, Jesse Williams from the Rome region of New York started a small cheese making unit in the assembly fashion. With the passage of time, plenty such units came up and were a part of many dairy associations. Business wise, the global cheese industry has always been one of the well performing ones. The market size for the industry by 2018 is estimate to expand in more than 70 countries; the global value for the sector which was around $73 bn (billion) is predicted to creep up to a whopping $118.44 bn by the close of 2019. According to the market research report the industry will gross a CAGR growth of 7.3% for the period from 2013 to 2019. Assistance from the global countries regulations and the growing demand added to the perishable nature of the food product is seen as reasons for the strong growth of the industry around the globe.

Italian cheese is ranked as the best quality cheese among all varieties that are available worldwide. This variation of cheese accounts to a chunk 40.5% of the total global demand. However, there are other forms of cheese that cater a 27.7% of the market demand share. Softer form of cheese widely known as Soft Cheese in the market too indicates a power growth at a CAGR of 7.2% for a span of next 6 years. This variant is globally in demand as they are mostly used for special preparations; include big content of Vitamin D thus healthy for bones and skin. Fresh cheese, another variety is equally liked by the consumers. It has a unique taste and freshness compared to the others. This kind of cheese also enjoys a good market as it is likely to rise at a CAGR of 7% for the same period as estimate for the soft cheese.

On consumption basis, cheese has a well spread market all around the globe. Europe and the North America regions amount to have major consumptions, 39% and 33% respectively. According to a market study the APAC countries are the fastest growing areas as the consumption growth rate is accounted. The list includes countries such as India, China and Japan and they clock a CAGR of 7.9% for the periods from 2013-2019. France is the second largest market worldwide following the United States of America which holds the lead position and is expecting a CAGR rise of more than 7.5% during the years 2013-2019. The growing numbers of snack eaters and foodies loving the Mexican and Italian cuisines are found to be the main reasons for the whopping growth.