Cheese has taken the lead in driving the dairy market with new food trends. The size of the world cheese market is anticipated to grow by $39.1 billion by 2027. This is being driven by the growth of cheese consumption worldwide and availability of different forms and flavors.
“All dairy dollar investments are moving into the cheese landscape,” said Lucas Fuess, Senior Dairy Analyst at Rabobank.
Consumption of dairy products has reached an all-time high. For cheese consumption alone, the average American consumed 42 pounds per person in 2022, compared to 21.9 pounds in 1980. Michael Dykes, President and CEO from IDFA said, “Dairy is not declining; dairy is growing. We’re simply eating more of our dairy than we’re drinking.”
With the new growth of cheese, more than $5 billion has been put into new dairy plant investments and expansions. Most of those investments are in cheese plants. Plants in the Southwest region are predicted to process more than 20 million pounds of milk per day. This upcoming growth in cheese consumption is the largest growth in cheese processing capacity ever seen in an 18-month window. If this cheese demand continues this trend the country will need a new large plant nearly every year.
Not only are Americans’ consuming lots of cheese, but cheese is also a big source of US dairy exports, according to the US Dairy Export Council. Cheese exports have seen a 13% rise. Among the most popular is shredded cheese, with a stronger demand than other cheese varieties.
For more, visit: The cheese category is fueling investments | Dairy Processing