Demand for Food Cultures Soars as Consumer Inclination for Fermented Food Increases, Finds Fact.MR
Published : 16 Dec 2019 Industry: Food & Beverage
The global food cultures market is projected to grow at a CAGR of over 7% between 2019 and 2027. As consumers become increasingly aware about the quality and health benefits of fermented food products, the increase in the demand for food cultures over the coming year is evident. This will surge sales to over the US$ 2.4 Bn mark in the food cultures market by the end of forecast period.
The global food cultures market is dynamic and constantly evolving with market players leveraging innovations in this space to produce cost effective and value added nutritional products. One third of all such food products uses food cultures as an additive. Over the past three years more than 700 new food products have been launched that are based on food culture. This recent shift in consumer preference for products that are value added and probiotic in their attributes has led to their proliferation on food retail shelves. Food culture suppliers are experiencing this change and are aligning their offerings to meet market requirements.
Key Takeaways of the Food Cultures Market Study
- Bacteria cultivation accounts for ~3/5th market share in global food cultures market due to its significant uses in the dairy industry
- Overall traction of food cultures is growing due to the advantages of extended shelf life and longevity of food products
- Mold is projected to witness strong growth at a CAGR of over 9.5%, supported by the significant consumption of cheese in developed European nations
- Europe holds the leading market share for food cultures due to the increasing consumption of fermented food products in the region. Between one-quarter and one-third of the food consumed in Europe are fermented products.
- South Asia & Oceania will witness a growth rate of over 10% in the food cultures market with considerable potential for new entrants, as the regions harbor a number of local bacterial producers operating in the local market
- Food culture requires a strict growth environment that is sometimes difficult to maintain in the processing plants and hinders the growth of the market for microbial food cultures
“Producers involved in the food cultures market need to go beyond the traditional segments, in order to establish a global business footprint and to improve supply-side disruptions in a high growth market.” Says the Fact.MR analyst
Manufacturers to solidify their Position with Bio-preservation Technologies
The global market for food cultures is highly competitive and is dominated by a number of local and international players who are thriving in a fragmented and unorganized market. In recent years, the consumption of fermented food has grown significantly, giving way to a competitive food cultures industry. Prominent players are emphasizing on bio-preservation technologies to cater to the growing demand of value-added nutritional products across the globe. Most producers of food cultures invest in R&D to market healthy products. In addition, as a part of the inorganic business expansion policy worldwide, acquisition of local players is also increasingly being observed.
Find More Valuable Insights on the Food Cultures Market
Fact.MR, in its new offerings, provides an unbiased analysis of the global market for food cultures, with historical data on demand (2013-2018) and expected projections for the period (2019-2027). The report discloses compelling insights into the demand for food cultures based on type (bacteria, yeast, mold), application (Dairy & Dairy-based Products, Wine & Fermented Beverages, Non-Alcoholic Beverages, Meat and Seafood, Other Applications) across several major regions.
About The Food & Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.