The global value of cheese stood at $216bn last year and is expected to rise to $237bn by 2019. But rising competition from small and medium-sized producers in emerging economies is preventing the top five brands Kraft, Philadelphia, President, Sargento and Galbani from maintaining strong growth, Canadean analyst Dhara Badiani said.
Top brands had to target growing markets, such as Brazil, China and India, more effectively now consumers had larger disposable incomes and wanted to eat a western diet. “Western foods, such as pizza, have become popular in many emerging markets in recent years,” Badiani added.