Cheese Market Growth & Trends

According to a recent report published by Grand View Research, Inc., the global cheese market is projected to attain a value of USD 283.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2030. This forecasted expansion is driven by several influential factors, including evolving consumer preferences, an increasing demand for plant-based cheese alternatives, the emergence of innovative and unique cheese varieties, and a growing consumer inclination toward exploring culinary experiences inspired by international food trends.

Modern consumers are displaying a pronounced interest in diverse, bold, and exotic flavors, thereby accelerating demand for healthier, artisanal, and environmentally sustainable cheese options. As sustainability continues to gain momentum across the food industry, innovations are being introduced to mitigate the environmental impact associated with traditional cheese production. One such innovation includes the use of specialized protein blends like micellar casein, which not only enhances sustainability by minimizing waste during whey separation but also contributes functional benefits such as higher protein content, improved moisture retention, thermal stability, and added nutritional value to cheese products.

In pursuit of market growth and product diversification, companies are increasingly engaging in strategic collaborations and joint ventures. A notable example occurred in December 2022, when Britannia Industries announced its ambition to grow its cheese business fivefold through a joint venture with Bel Group, a France-based dairy producer. As part of the agreement, Bel acquired a 49% stake in Britannia’s subsidiary, Britannia Dairy, marking a concerted effort to tap into the expanding cheese market in India.

This strategic alliance aims to manufacture and distribute co-branded cheese products under the widely recognized trademarks "Britannia" and "The Laughing Cow," thereby enriching Britannia’s cheese portfolio and increasing accessibility for Indian consumers. At the retail level, supermarkets and specialty stores are revamping their cheese offerings, with a renewed emphasis on premium, niche, and artisanal cheeses. In particular, stable domestic cheese pricing—especially in comparison to the fluctuating costs of imported varieties—has motivated retailers to focus on promoting local and domestic cheese options.

In the United States, the cheese retail landscape continues to grow, with American producers creating localized versions of popular European cheeses. This not only helps reduce shipping and import costs but also offers consumers fresh and affordable alternatives. Retailers are also investing in strategic merchandising techniques to stimulate interest in specialty cheeses—this includes improved product displays, themed in-store events, and targeted promotional campaigns.

Cheese Market Report Highlights

• In 2023, the cheddar cheese segment commanded a 36.50% share of global market revenue. This dominance is largely due to its high demand and versatility, as cheddar is extensively used in a variety of dishes, including sandwiches, burgers, baked goods, and snacks, making it a popular choice among both consumers and culinary professionals.
• The plant-based cheese segment is forecasted to expand at a robust CAGR of 12.5% from 2024 to 2030. This surge in demand is primarily attributed to the growing shift toward plant-based dietary preferences, spurred by heightened health consciousness and environmental concerns.
• The increasing prevalence of lactose intolerance, along with the expanding base of vegan and flexitarian consumers, is fueling interest in dairy-free cheese alternatives, creating opportunities for innovation and product development in the plant-based segment.
• The processed cheese segment is expected to grow at a CAGR of 4.0% during the forecast period. The appeal of processed cheese slices lies in their convenience and ease of use, catering to consumer demand for quick meals, snacks, and ready-to-cook products.
• The business-to-consumer (B2C) distribution channel accounted for 50% of the market share in 2023. This high share is driven by the growing preference for high-quality, diverse cheese options available through hypermarkets, supermarkets, and specialty retail stores, along with the rise in home cooking trends.
• In 2023, Europe held a significant 35.16% share of the global market revenue, owing to the region’s strong demand for plant-based cheese alternatives, which aligns with the health-conscious mindset of European consumers and the region’s growing emphasis on sustainable food production.
• In August 2023, Agrocorp International launched HerbY-Cheese, a plant-based and nut-free cheese range, under its HerbYvore brand in Singapore. This launch followed a strategic partnership with the Singapore Institute of Technology (SIT) to develop eco-friendly plant protein extraction technologies, resulting in the successful creation of the product.
• The HerbY-Cheese line includes dairy-free versions of cheddar, mozzarella, and parmesan, designed to appeal to health-conscious consumers seeking sustainable, nutritious, and allergen-friendly cheese alternatives. These products are currently available through online channels and select retail outlets within Singapore.

Get a preview of the latest developments in the Cheese Market? Download your FREE sample PDF copy today and explore key data and trends

Cheese Market Segmentation

Grand View Research has segmented the global cheese market on the basis of product, source, type, distribution channel, and region:

Cheese Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Cheddar
• Mozzarella
• Parmesan
• Blue Cheese
• Others

Cheese Source Outlook (Revenue, USD Billion, 2018 - 2030)

• Animal-based
  • Cow Milk Cheese
  • Goat Milk Cheese
  • Sheep Milk Cheese
• Plant-based
  • Soy-based
  • Cashew-based
  • Almond-based
  • Coconut-based
  • Others

Cheese Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Natural
• Processed
  • Slices
  • Block
  • Spreads
  • Others

Cheese Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• B2C/Retail
  • Hypermarkets & Supermarkets
  • Specialty Stores
  • Online
  • Others
• B2B
  • Food Service
  • Food & Beverage Processing
    • Snacks
    • Sauces, Dressings, Dips, & Condiments
    • Bakery & Confectionery
    • Ready Meals
    • Others

Cheese Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa
  • Saudi Arabia

Key Players in Cheese Market

• Arla Foods Group
• Fonterra Co-operative Group Limited
• Glanbia plc
• Saputo Cheese USA Inc.
• Bel Brands USA, Inc.
• FrieslandCampina
• Daiya Foods, Inc.
• Kite Hill
• Lactalis International
• Sargento Foods Inc.

Order a free sample PDF of the Market Intelligence Study, published by Grand View Research.