Cheese ingredients market is projected to reach USD 102.14 billion by 2022, from USD 87.08 billion in 2017, at a CAGR of 3.24%. The market is driven by growth in demand for cheese as a key ingredient in various fast food products.
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The key players in the Cheese Ingredients Market include – Chr. Hansen Holding (Denmark), Fonterra (New Zealand), DuPont (US), DSM (Netherlands), ADM (US), and Sacco s.r.l.
(Italy). Some of the other players in the cheese ingredients market include Arla foods (Denmark), Saputo Inc. (Canada), Almarai (Saudi Arabia), Alpura (Mexico), and CSK Food Enrichment (Netherlands).
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The natural cheese segment accounted for a major share in the cheese ingredients market. The demand for natural cheese is witnessing a rise in developed regions such as North America and Europe.
Rise in awareness about ill-health effects of preservatives & additives used in processed cheese and the high-calorie content of processed cheese are the key factors leading to an increased demand for natural cheese.
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The cultures segment, by ingredient, is projected to grow at the highest CAGR during the forecast period. The cheese manufacturers are increasingly shifting the use of cultures from bulk starter cultures to DVS and other similar technologies.
Their ease of use is the key factor leading to the increased adoption of the DVS technology for milk coagulation in the cheese making process.
Asia Pacificled the global cheese ingredients market in terms of growth rate between 2017 and 2022. The demand for cheese is expected to increase in the Asia Pacific region owing to the impact of western dietary habits, rise in disposable income levels, and changes in lifestyles in countries such as China and India.
Factors such as rapid growth in the fast food industry are expected to increase the demand for cheese, subsequently increasing the demand for cheese ingredients. Furthermore, the cheese manufacturers in this region are increasingly producing processed cheese as the fast food industry in the region demands more of processed cheese due to its longer shelf life and widespread usage.
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- Supply side: Cheese ingredient producers, suppliers, distributors, importers, and exporters
- Demand side: Food & beverage manufacturers, cheese manufacturers, cheese suppliers, and traders
- Regulatory side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
- Other related associations: Research organizations and industry bodies
Unfavorable government regulations, growth in consumer preference for vegan diet, and increase incases of lactose intolerance are the major restraints in the growth of the cheese ingredients market.
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The report analyzes the cheese ingredients market across different cheese types and regions. It aims at estimating the market size and future growth potential of this market across different segments such as cheese type, ingredient, and region.
Furthermore, the report also includes in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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