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Region : Global | Published Date: Upcoming | Report ID: FBI100538| Status : Upcoming
Cheese ingredients are crucial Cheese ingredients market is growing crucially due to rapid shift in eating habits across the globe, especially in Asian countries. Rapid adoption of westernized food culture is leading to tremendous growth of cheese market and hence contributing in the growth of cheese ingredients market. The significance of variety of cheese in different cuisine preparation is fuelling the growth of cheese ingredients market.
Key companies operating in global cheese ingredients market are focusing on innovative product launches and acquistion of small players to expand their product portfolio. Adams Extract, Dr. Oetkar, McCormick, Wilton, and Nielsen Massey are some of the major companies with largest market shares in the global vanilla extracts market.
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Cheese ingredients are items that are required to produce cheese. Milk, enzymes, bacterial culture, and significant additives are the widely used ingredients required to produce cheese. Quality cheese ingredients help make the cheese impart desirable flavors and textures in the cheese produced, hence enhances its overall market value. United States, Italy, Germany, Russia, and France are some of the major cheese consuming countries of the world.
Rapid urbanization across several developing economies, such as China, India, and others is contributing significantly in the growth of cheese ingredients market. Furthermore, growing market for convenience food due to its high demand is further contributing in escalating the cheese ingredients market. Rise in per capita income of population based at developing countries is expected to contribute in fueling the growth of the market during the forecast period.
Major restraining factor for the growth of global cheese ingredients market is rising health consciousness among consumers, and increasing number of obese population across the world. Growing number of vegan population, especially across developed regions can be a major restraining factor in the growth of cheese ingredients market during the forecast period.
Some of the key players that are present in the global cheese ingredients market are DowDuPont, Arla Foods, Archer Daniels Midland Company, Saputo Inc., CSK Food Enrichment, Chr. Hansen Holding A/S, Alpura, Fonterra Co-operative Group, Koninklijke Dsm N.V., and Almarai.
By Cheese Type
· Powdered Milk
· Fresh Milk
· Milk Cream
· Food Colors
· Cheese Salts
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of cheese type, the market is segmented into natural and processed cheese. The natural cheese type segment is anticipated to grow at a crucial pace during the forecast years, due to their wide adoption for traditional cheese preparation, coupled with rising consumer inclination towards natural ingredients due to health benefits offered by them. Escalating diseases contributed by consumption of processed food and development in food processing technologies are further expected to aid the growth of natural segment.
By ingredients, milk segment, followed by enzymes are expected to witness significant growth and hold the major market share, due to use of milk as a primary ingredient in production of different cheese varieties. Increased collaborations between local farmers and major milk and dairy products producing companies is further expected to help in the growth of the segment in the forthcoming years.
Asia Pacific is projected to grow at a significant pace in the global cheese ingredients market and is projected to hold a major market share during the forecast period, due to rapid urbanization in Asian countries such as China, Japan, India, and others, which is leading to increased consumption of cheese ingredients and hence contributing in the growth of the market. According to Dairy Export Council (USDEC), the import value of cheese in china has raised significantly since 2000, where it was valued less than 2,000 metric tons and reached more than 108,000 tons by the year 2017. Presence of emerging cheese producing and consuming countries, such as New Zealand and Australia in Asia Pacific is projected to further propel the growth of the region.