The document summarizes a report on the growth of the cheese industry in the US. It states that the US is the largest producer and consumer of cheese in the world. The value of cheese production in the US is estimated to grow at a CAGR of 4.8% from 2013 to 2019, up from 2.0% CAGR from 2008 to 2013. Per capita cheese consumption in the US is also expected to exceed 36 pounds by 2019. The cheese industry is characterized as innovative with fragmented local leaders and recognized for its strict quality standards.
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Cheese industry in the US
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Growth of Cheese Industry in
the US
๏ต Quest Flash โ July 2014
2. Page 1 ยฉ 2015 dquester. All rights reservedQuest Flash โ Growth of Cheese Industry in the US
Sources: Annual Survey of Manufacturers, US Census Bureau; Agricultural Marketing Resource Center; US Dairy
Export Council (USDEC); Dairy Reporter; Agriview; dquester analysis
Market size
The value of cheese production in the US will grow at a CAGR of 4.8% between
2013-2019.
United States is the largest producer and the largest consumer of cheese in the world. In fact, in
2013, the country became the largest exporter of cheese in the world. dquester estimates that
with continuous product innovation and growth of favorable consumer trends, the value of
cheese production in the US will grow at a CAGR of 4.8% between 2013 and 2019, up from 2.0%
CAGR noted between 2008 and 2013.
37.5
59.5
2008 2009 2010 2011 2012 2013e 2014f 2015f 2016f 2017f 2018f 2019f
CAGR 2008-13: 2.0%
CAGR 2013-19: 4.8%
Total value of shipments is expected to reach
$59.5 bn by 2019
32.8
36.4
2008 2009 2010 2011 2012 2013e 2014f 2015f 2016f 2017f 2018f 2019f
CAGR 2008-13: 0.9%
Per capital consumption is likely to exceed
36lb by 2019
Market characteristics
Innovative
Fragmented
industry with
local leaders
Recognized
for strict
sanitary &
quality
standards
Key driver of
dairy growth
Export
oriented
15.3%
13.5%
13.2% 13.3%
2010 2011 2012 2013e
Gross profit margin has declined but
remains in early double digits
3. Page 2 ยฉ 2015 dquester. All rights reservedQuest Flash โ Growth of Cheese Industry in the US
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