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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