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Cheese Ingredients Market Worth $102 Billion by 2022
Illinois Ag Connection - 12/03/2017

Accordding to the report "Cheese Ingredients Market by Cheese Type (Natural (Cheddar, Parmesan, Mozzarella, Gouda), Processed), Ingredient (Milk (Fresh Milk, Powdered Milk, Milk Cream), Cultures, Enzymes (Rennet, Lipase), Additives), and Region - Global Forecast to 2022," published by MarketsandMarkets, the market is projected to reach $102.14 billion by 2022, in terms of value, at a CAGR of 3.24% from $87.08 billion in 2017. The Cheese Ingredients Market is emerging due to increase in demand for fast food and convenience food, growth in health concerns, and rapid urbanization. Use of cheese in ready-to-eat food and fast food is fueling the demand for cheese ingredients in North America and Europe.

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.

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 acquisitions of milk-producing companies and alliances/collaborations with local farmers were the strategies adopted by key players to establish their footprint in the market.

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.

This report includes a study of the product offerings and competitive benchmarking of leading companies. It includes the profiles of leading companies such as Chr. Hansen Holding (Denmark), Fonterra (New Zealand), DuPont (US), DSM (The Netherlands), ADM (US), Arla Foods (Denmark), Dairy Farmers of America (US), Saputo Inc. (Canada), Almarai (Saudi Arabia), Alpura (Mexico), CSK Foods (Netherlands), and Sacco srl (Italy).

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