The global processed cheese market was valued at US$ 32,657.7 Mn in 2016 and is projected to maintain a steady growth rate and register a CAGR of 2.9% from 2017 to 2022. The first three-year cumulative revenue (2017–2019) is projected to be US$ 1,03,482.8 Mn, which is expected to increase rather significantly over the latter part of the three-year forecast period.
Global Processed Cheese Market: Segmental Snapshot
By Type: Types of processed cheese include spreadable processed cheese and un-spreadable processed cheese. Among these types, un-spreadable processed cheese is estimated to register highest CAGR of 2.9%, thereby accounting for highest revenue share compared to spreadable processed cheese segment
By Application: Among the three application segments, which are catering sector, industrial sector, and retail sector, the retail segment is estimated to register highest CAGR of 2.8%, thereby accounting for highest revenue share among the application segments
By Region: Revenue contribution from the market in Asia Pacific is expected to expand at a highest CAGR of over 3.4% over the forecast period.
Global Processed Cheese Market: Competitive Analysis
Key market players profiled include SAVENCIA SA, Bright Food Global, Fonterra Foodservice, The Kraft Heinz Company, Arla Foods amba, Uhrenholt A/S, PT. Mulia Boga Raya (PROCHIZ), Devondale Murray Goulburn, PT Diamond Cold Storage Indonesia.