Cheese Production in the US - Market Research Report

Say cheese: Boosting exports and per capita disposable income will drive revenue expansion

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Cheese producers have seen revenue expansion through the end of 2023 as a result of slightly higher per capita dairy consumption and overall boosting milk prices. Perhaps most notably, cheese producers have performed steadily during the global outbreak of COVID-19, which pushed up demand for packed and processed foods as more consumers stayed and worked at home in an effort to reign in the spread of coronavirus. However, amid strengthening milk prices, cheese production profit has been pressured despite swelling sales and revenue. A jump in cheese production revenue has been bolstered as consumption and price have continued to move together, while swelling per capita disposable income has led consumers to trade up on cheese products. Revenue is expected to expand at a CAGR of 3.5% $68.1 billion, shaking off the decline from 2018 and 2021. In 2020 specifically, revenue surged 9.8% as demand from grocery stores surged amid the pandemic. Cheese production revenue is anticipated to inch up 0.1% in 2023 alone. Cheese producers manufacture cheese products from raw milk and processed milk products.