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U.S. Cheese Market to Develop Rapidly at CAGR of about 3.41% by 2023

por em15 Janeiro 2018 459 acessos
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Market Overview: U.S. is the major cheese producing country in the world which alone contribute around 26% of market share in world cheese production. U.S. Cheese market is projected to reach 6787 Kilo Tons by year 2023 with growth rate of 3.41% during the period 2017 to 2023.  Wisconsin and California together holds more than 50% of market share in U.S. cheese production. Wisconsin state alone captures major market share of more than 28% in 2017 and it will grow at the rate of 3.55% during the forecast period as majority of cheese producing plants are located in Wisconsin and California. California will witness significant growth rate during 2017 to 2023 due to increasing milk production in California. Mozzarella will continue to dominate the U.S. Cheese market with more than 50% of market share in 2017. Increasing popularity of pizza and other fast foods is creating huge demand of Mozzarella cheese which will result in faster growth of Mozzarella cheese compare to other cheese types. The production of Cheddar cheese will grow at CAGR of 3.43% during the forecast period. Advancement in manufacturing process and availability of raw material is supporting the growth of various types of cheese that includes Feta, Hispanic, Montery Jack and Cream cheese. Wisconsin is the major cheese producing state of U.S. which captures around 30% of market share in U.S. during 2017. Wisconsin cheese market is projected to reach around 1900 Kilo Tons with growth rate of 3.55% by 2023. In Wisconsin, Mozzarella cheese has large market share in 2017 and it is growing at faster rate compare to other cheese product type. Other Italian cheese mainly includes Provolone, Parmesan and Romano cheese. Other American cheese mainly includes Bergenost, Bloomsdale, Dorset, Cup Cheese and many more. Request a Sample Report @ Key Players: The leading market players in the U.S. Cheese market primarily are Land O'Lakes, Inc., Dairiconcepts L.P., The Kraft Heinz Co., Leprino Foods Company, Associated Milk Producers Inc. Foremost Farms USA Cooperative and Dairy Farmers of America Inc. In 2013, in order to strengthen the company’s portfolio, Land O'Lakes, Inc. acquired a firm named Geosys, which is a company that provides satellite imaging and insights to agribusiness, where as in 2017, Land O'Lakes, Inc. acquired company named Vermont Creamery. In 2013, Dairy Farmers of America Inc. Dairy Maid Dairy., located in Frederick, Maryland, the U.S. Target Audience: Cheese Manufacturers Food Industry Milk Suppliers E-commerce Retailers and wholesalers Traders, importers and exporters Access Report Details @ Key Findings: The U.S. Cheese market is projected to reach 6,787 kilo tons by 2023 of 3.41% In U.S., application of cheese in fast food snacks is projected to reach 1,705 kilo tons by 2023 with CAGR of 4.46% during the forecast period 2017 to 2023 In U.S., majority of cheese is reduced from the skimmed cow milk which contributes 83% of market share in 2017