There are several things to consider for this:
What kind of data do you store? Does it actually make sense, to convert this to a binary format? Will binary format take up less space (the time it takes to read the file is dependent on size)?
Do you have multiple queries for the same file, while the system is running, or do you have to load the file each time someone does a query?
Do you need to efficiently transfer the file between different systems?
All these factors are very important for a decision. The common case is that you only need to load the file once and then do many queries. In that case it hardly matters what format you store the data in, because it will be stored in memory afterwards anyway. Spend more time thinking about good data structures to handle the queries.
Another common case is, that you cannot keep the main application running and hence you cannot keep the file in memory. In that case, get rid of the file and use a database. Any database you can use will most likely be faster than anything you could come up with. However it is not easy to transfer a database between system.
Most likely though, the file format will not be a real issue to consider. I've read quite a few very long CSV files and most often the time it took to read the file was negligible compared to what I needed to do with the data afterwards.