The US cheese market exhibited fluctuating growth from 2013 to 2023, with a notable increase from $39.735 billion in 2013 to $46.712 billion in 2023. The YoY variations highlight significant increases in 2014 (11.78%) and declines in 2015 (-9.7%). In recent years, growth stabilized, with a minor dip in 2022 (-0.22%) and a modest rise in 2023 (1.71%). The 5-year CAGR at the end of 2023 was 1.85%, reflecting overall steady but moderate growth.
Looking ahead, the forecast indicates a continued positive trend, reaching $50.461 billion by 2028, although at a slower 5-year CAGR of 1.2%. Key future trends to monitor include consumer preference shifts towards organic and specialty cheeses, sustainability in production practices, and the impact of economic changes on consumer spending.
