Apac cheese market to leap to $15.5bn by 2021

By RJ Whitehead

- Last updated on GMT

Apac cheese market to leap to $15.5bn by 2021
The Asia-Pacific cheese market is worth US$8.3bn and is expected to almost double to US$15.5bn by 2021, according to a Research and Markets report. This corresponds to an annualised growth rate of 8.1% over seven years from 2014. 

Asia-Pacific, and particularly China and India, is among the fast growing markets in the global cheese market, especially as a result of the rise of fast-food across the region, for which cheese is a key ingredient. 

This growing preference is being fuelled by rapidly changing lifestyles in the prime markets of India and China, and is expected to play a crucial role in boosting the consumption of cheese over the next few years. 

Asia-Pacific’s most commonly consumed varieties of cheese remain cheddar, parmesan, mozzarella and cheese slices. However, growing disposable income in the region’s prime markets is likely to spur growth in demand for new varieties of cheese over the next few years, the report said. 

Key players mentioned in the study include Kraft Foods, Fonterra, GCMMF, Bright Dairy and Bongrain. 

Related topics: Markets, Cheese, Emerging Markets

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