Global cheese market grows
According to research from Canadean, the global value of cheese stood at $216.3 billion in 2014 and is expected to reach $237.2 billion in 2019.
However, research also found that the cheese market is highly fragmented. The top five brands, Kraft, Philadelphia, President, Sargento and Galbani, together hold less than 10% of the market share.
The growing population in countries such as Brazil, China and India with increasing disposable income means that consumers spend more on processed foods including cheese. “Western foods such as pizza, pasta and sandwiches have become more popular in many emerging markets in recent year,” says Dhara Badiani, analyst at Canadean.
“Hypermarkets and supermarkets are the leading retailer channel for cheese in emerging markets, as they offer a wide range of cheese including multi-brand, private label and specialty products,” Badiani continues.
