The global cheese market is expected to exhibit a steady CAGR of 4.40% from 2013 to 2019, according to research released recently by leading market intelligence company Transparency Market Research (TMR). The cheese market was valued at US$79.5 billion in 2012 and is expected to rise in valuation to US$105.1 billion by the end of the forecast period.
According to TMR analysts, the prime drivers of the global cheese market are the increase in the number of fast food chains around the world and the increase in the financial ability of consumer to spend on fine foods such as cheese. On the other hand, the short shelf life of cheese will count against the global cheese market in its trajectory in the coming years.