Global cheese market ‘returns to growth trend’, new figures show

From:FoodBev

The global retail market for cheese returned to growth in 2015, rising by an estimated 1% to reach volume sales of 11.5 million tonnes, according to data from food and drinks industry consultancy Zenith International.

It found that natural cheese was the most popular cheese type, accounting for 83% of total volume and 85% in value, with hard, semi-hard and white cheese most favoured. Processed cheese consumption is more common in developing economies such as Asia Pacific, the Middle East and Africa than in the more developed economies of North America and Europe.

The global market for cheese is highly fragmented, Zenith continued, with the leading five brands – Kraft, Président, The Laughing Cow, Philadelphia and Sargento – holding a combined retail share of 8% by volume. Innovation is rife as manufacturers endeavour to capture share, with new product launches spanning a number of trends including unusual flavour pairings, products tailored towards specific consumption occasions and low-fat cheeses.

“Without a doubt, the level of innovation in the cheese industry has kept the market relevant to today’s consumers, who are looking for variety, convenience and added value,” said Zenith market intelligence director Esther Renfrew. “Our 2016 report serves as an ideal reference for any company seeking to create or expand a presence in the market by examining the latest trends in product development around the world.”

The 2016 Zenith Report on Cheese Innovation identifies ten key trends and themes driving new product development initiatives since 2014 – cooking, dipping, convenience, snacking, spreadables, added protein, indulgence, lactose-free, no-melt and child-oriented. The report also offers an overview of the global cheese market, with market insights covering global and specific country trends as well as challenges and opportunities.

Claims: 
The copyrights of articles in the website belong to authors. Please inform us if there is any violation of intellectual property and we will delete the articles immediately.