Cheese Ingredients Market is Expected to Witness Rapid Growth in Coming Years
Speedy growth in fast food
industry and increasing demand for cheese as a key ingredient are some major
growth factors for global cheese ingredients market.
According
to TechSci Research report, “Global Cheese
Ingredients Market By Cheese Type (Natural and Processed), By Ingredient
(Milk, Enzymes, Additives, Cultures and Others), By Region, Forecast & Opportunities,
2025”, the market is anticipated to undergo a robust CAGR during
the forecast period. Key factor driving the growth of global cheese ingredients
market are changing lifestyle pattern which has led to increasing consumption
of fast food where cheese ingredients are widely used. Moreover, growing demand
for convenience food and increasing use of cheese ingredients to enhance the
taste and look of food are also contributing to the global cheese ingredients market
growth. The boom in retail and e-commerce industry is another major factor
fueling the market growth. Also, growing influence and popularity of western
food culture in developing economies are leading to increased consumption of
cheese ingredients. Apart from that, the rapid growth in food industry and
increasing number of fast food chains around the world are expected to foster
the growth of global cheese ingredients market in next five years.
Additionally, thriving cheese industry and growing
popularity of various kinds of cheese among consumers are also contributing to
the growth of global cheese ingredient market. The growing food processing
business in developing countries is also anticipated to propel the cheese
ingredient market growth. Furthermore, manufacturers are now introducing cheese
ingredients with regional flavors which are gaining immense popularity
throughout the world. However, growing consumer awareness towards health
is likely to limit the growth of this market. Moreover, high number of lactose
intolerant people and growing vegan population are poised to hamper the growth
of global cheese ingredient market.
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Global
cheese ingredients market is segmented based on cheese type, ingredient and
region. Based on cheese type, the market can be segmented into natural and
processed cheese. Among them, natural cheese segment held largest market share
until 2019 and is expected to continue its dominance through 2025. Mozzarella,
cheddar, parmesan, ricotta, feta, gouda, swiss, blue and cottage cheese come
under the bracket of natural cheese. The increasing popularity and use of
mozzarella and parmesan cheese are creating their huge demand around the world.
Based
on ingredient, global cheese ingredient market can be categorized into milk,
enzymes, additives, cultures and others. Among them, milk constituted the most
widely used ingredient until 2019 as most of the highly consumed cheese like
mozzarella are prepared from cow and buffalo milk. The segment is expected to
further undergo high CAGR during the forecast period.
Major players operating in the global cheese
ingredients market are Hansen Holding A/S, Fonterra Co-operative Group Limited,
I. du Pont de Nemours and Company, Koninklijke DSM N.V., Archer Daniels Midland
Company, Arla Foods amba, Saputo Inc., Almarai Company, Union de Credito
Alpura, S.A. de C.V., CSK Food Enrichment B.V., Sacco SRL and Dairy Farmers of
America, Inc. Leading market players are adopting growth strategies such as
product innovation, collaborations, mergers & acquisitions and
partnerships.
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“High
consumption of fast food like pizza, hamburger and hotdog in United States and
Canada makes North America a leading market for cheese ingredient manufactures.
However, Asia Pacific is expected to exhibit fastest CAGR through 2025 owing to
increasing number of fast food chains and changing food habits of people.
Moreover, the improving living standard and rise in disposable income in
countries such as India and China are also creating lucrative growth
opportunities for cheese ingredient companies,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Cheese Ingredients Market By Cheese Type
(Natural and Processed), By Ingredient (Milk, Enzymes, Additives, Cultures and
Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of cheese
ingredients market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global cheese ingredients market.
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