Transparency Market Research has launched a new market report titled "Cheese (American, Italian, Hard, Soft, Fresh and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". According to the report, the demand for cheese is expected to grow at a CAGR of 7.3% in terms of revenue from 2013 to 2019 and a market that was valued at US$72.45 billion in 2012 is expected to reach US$118.44 billion by 2019.
According to the company, the global cheese market witnessed growth in recent years due to a growing fast food industry.
In addition, it believes that the high nutritional value of cheese is another factor contributing towards market growth – but the perishable nature of cheese and stringent government regulations are the major growth barriers to the market. However, product innovation provides a huge opportunity for the market players, the company believes.
In 2012, the global cheese market by product type was dominated by Italian cheese which accounted for 40.5% of the overall share, followed by other types of cheese that accounted for 27.7% of the market share. Soft cheese is expected to grow at a CAGR of 7.2% from 2013 to 2019.
