According to global market research company, Euromonitor, the US is the world’s largest market at $22.1bn (€19.9bn) and set to grow to $27bn (€24.3bn) by 2020. This is well ahead of the French cheese market valued at €8.5bn and set to grow to €9.54bn over the same period.
By 2020, Brazil will triple sales to €8.91bn and overtake Italy to become the fifth biggest cheese market in the world.
Between 2015 and 2020, half of the new sales in cheese will come from Latin America, Africa and the Middle East.
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There is also growth in markets like Egypt, Algeria, Saudi Arabia and Mexico are not as high in ranking when it comes to packaged food, but in cheese these countries are becoming markets to watch.
Average yearly cheese consumption per head in Brazil, Mexico and Egypt was 4kg versus 10kg in markets like Germany, which gives growth from lower consumption levels.
These consumption levels are not as low as levels in China as cheese is already part of the consumer’s diet. People do not have to be convinced to buy cheese, but there is potential to grow the consumption level to where it is in developed markets.
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According to global market research company, Euromonitor, the US is the world’s largest market at $22.1bn (€19.9bn) and set to grow to $27bn (€24.3bn) by 2020. This is well ahead of the French cheese market valued at €8.5bn and set to grow to €9.54bn over the same period.
By 2020, Brazil will triple sales to €8.91bn and overtake Italy to become the fifth biggest cheese market in the world.
Between 2015 and 2020, half of the new sales in cheese will come from Latin America, Africa and the Middle East.
There is also growth in markets like Egypt, Algeria, Saudi Arabia and Mexico are not as high in ranking when it comes to packaged food, but in cheese these countries are becoming markets to watch.
Average yearly cheese consumption per head in Brazil, Mexico and Egypt was 4kg versus 10kg in markets like Germany, which gives growth from lower consumption levels.
These consumption levels are not as low as levels in China as cheese is already part of the consumer’s diet. People do not have to be convinced to buy cheese, but there is potential to grow the consumption level to where it is in developed markets.
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