(Food-Beverage-News.Com, August 21, 2019 ) The Global Cheese Ingredients Market is projected to reach USD 102.14 Billion by 2022, in terms of value, at a CAGR of 3.24% from USD 87.08 Billion in 2017. The growth of the cheese ingredients market is proportionally dependent upon the growth of the cheese industry. The market is driven by increase in demand for cheese as a key ingredient in the fast food industry. Furthermore, 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. However, there are several restrictions on the levels of contents and their usage in the cheese making process imposed by various regulatory bodies, which act as a restraint for the market growth. Additionally, consumer shift toward the consumption of vegan food products is also expected to affect the market growth.
Browse 128 market data tables 49 figures spread through more than 173 pages and in-depth TOC on “Cheese Ingredients Market- Global Forecast to 2022”
Natural segment, by type, is estimated to be the largest segment in 2017:
On the basis of type, the natural segment is estimated to account for the largest share of the cheese ingredients market in 2017. It is observed to be the most widely used cheese ingredient type for the preparation of traditional cheese. The natural cheese ingredient market is driven mainly due to awareness about rising cases of diseases, rapid urbanization, increase in the number of fast food outlets & food chains, and development of technologies in food processing to upgrade the nutritional benefits of the cheese products.
Milk: The most widely preferred ingredient
The milk segment accounted for the largest share of the cheese ingredients market, in terms of value and volume, in 2016. Milk is the most important ingredient in cheese making accounting for a major share in the total cheese ingredients market. The acquisition of milk-producing companies and alliances/collaborations with local farmers were the strategies adopted by key players to establish their footprint in the market.
Asia Pacific is estimated to be the most lucrative market for cheese ingredients:
In 2017, Asia Pacific is estimated to hold a significant share in the global cheese ingredients market, and is also projected to grow at the highest CAGR during the forecast period. Rapid urbanization in countries such as India, China, Japan, and South Korea, upcoming food joints, and increase in the number of baking & dairy industries are the main factors contributing to the dominance and fast growth of the Asia Pacific region in the global cheese ingredients market. Australia & New Zealand dominated the Asia Pacific region, due to the high consumption of cheese ingredients baking and fat food industries. India is estimated to grow with the fastest CAGR in Asia Pacific region due to increasing urban population in the country.
The global market for cheese ingredients is dominated by large-scale players such as Chr. Hansen Holding (Denmark), Fonterra (New Zealand), DuPont (US), DSM (Netherlands), ADM (US), and Sacco s.r.l. (Italy). Arla foods (Denmark), Saputo Inc. (Canada), Almarai (Saudi Arabia), Alpura (Mexico), and CSK Food Enrichment (Netherlands) are a few other key market players that also have a significant share in the cheese ingredients market.
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