The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Cheese is the largest dairy category globally, showing enormous growth potential in a number of markets, including Brazil and the US. This report gives a global overview of cheese and identifies key factors driving sales, including health, sustainability and convenience, as well as cultural traditions and social factors. Moreover, it delves into the best-performing markets for cheese over the coming years, understanding how these key drivers interact to shape consumption demand.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Cheese is the largest dairy category globally, delivering USD4 billion absolute growth in the historic period. APAC has emerged as the most dynamic region, with Japan and China topping the list. However, Western Europe has shown a sluggish performance, due to the maturity of the market, but also through substitute products gaining popularity in countries such as Finland and Italy, namely plant-based and Asian foods.
Expansion to fast-growing markets is a fundamental part of the strategy of top cheese manufacturers. M&A activities have been pivotal for this purpose, which is the case of the largest cheese player, Groupe Lactalis, which has strengthened its presence in Latin America through the acquisition of a number of dairy players in the region. Expansion of core brands is also at the heart of the strategy of key players such as Groupe Bel, which has extended the presence of flagship brands such as The Laughing Cow and Mini Babybel through innovation and the opening of new factories, such as one in Cote d’ Ivoire.
Cheese consumption has risen to stardom in numerous markets over the last few years, driven by individual preferences and beliefs around health and sustainability, as well as cultural traditions and social and economic factors; all interacting in a complex way to shape its consumption. Cheese health credentials versus its indulgent side, its acceptance as an alternative source of protein, as well as the rise of premium variants and bite-sized offerings, are just a few factors influencing the rise of sales of cheese globally.
The growth potential in cheese is geographically widespread, so understanding the key drivers in each country is essential to succeed. Brazil, Russia, Mexico, the US and France top the list, and while health factors and convenience are common to all of them, there are also opposite factors influencing in different markets, such as premiumisation versus affordability, or local cheeses versus international offerings.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.