Cheese Market to Reach $110.5 Billion by 2021

The global cheese market will be worth $110.5 billion by 2021, expanding at a compound annual growth rate of 6.2 percent, according to A to Z Research. The market was worth $80.5 billion in 2015, with 417 kg of cheese sold. North America accounted for 30.5 percent of the total cheese market in 2015, while Europe accounted for 35.2 percent.

Major drivers going forward include strong demand from dairy and the fast food industry, as well as rapid growth in India and China, which will make Asia Pacific the dominant cheese market by 2021. However, consumer demand for low calorie foods may restrain growth somewhat. Cheddar is the cheese segment with the largest market share, and is expected to be the fastest growing variety through 2021. thank you to Specialty News –