Mar 07, 2018
Global Cheese Concentrate Market to Witness High Profitability in Processed Cheese Applications: Fact.MR Forecast
by Team Fact.MR
New ingredients are being introduced in the production of dairy derivatives such as cheese concentrates, wherein companies are using innovative ways to reinvent flavors and boost the nutritional content of end-products. Cheese concentrates are among the key dairy spinoffs that have consistently captured consumer interests across regions. Growing demand for milk derivatives in consumer diets has propelled the applications of cheese concentrates, and companies are also extending their product profiles to cater to the taste beds of consumers, particularly in the US and parts of Europe.
Fact.MR foresees a promising growth for the global cheese concentrate market, estimating the market to expand robustly at a volume CAGR of 7.9% during the period, 2017-2026. Food industry players are actively adopting cheese concentrates in low fat applications, enabling them to replace raw and processed cheese cost-effectively. The study estimates that by the end of 2026, the global market for cheese concentrates will touch a valuation of US$ 2.2 billion. The demand for cheese concentrates is pegged to remain predominantly high in Europe and North America.
Dietary Lifestyles of European Consumers to Rev Up Global Cheese Concentrate Consumption
Majority of European dietary lifestyles comprise of a high concentration of milk products such as cheese. France, Finland, Germany and the UK are among the world’s largest consumer marketplaces for cheese and dairy derivatives. The consumption of cheese concentrates is also expected to remain the highest in Europe through 2026. By the end of the forecast period, nearly 95,000 tons of cheese concentrates will be consumed across Europe, making it the largest market in the global landscape. North America is also expected to be at the forefront of global cheese concentrates market expansion through 2026, reflecting a global market volume share of more than 35%.
Market Players to Extend Production of Cheddar & Mozzarella Cheese Concentrates and Capitalize on High Profits Associated with Processed Cheese Applications
The study observes a high consumption of cheddar cheese concentrates in the world. By the end of 2026, more than 35% of cheese concentrates produced in the world will be made of cheddar cheese. The concentrated derivatives of mozzarella cheese are also expected to represent top-selling products in the global cheese concentrate market throughout the forecast period. Collectively, more than 50% of the global cheese concentrates market volumes will be accounted by consumption of cheddar cheese concentrates and mozzarella cheese concentrates.
Key players in the global cheese concentrate market will be eyeing at extending the production to meet these soaring demands. Likewise, companies will also focus on offering cheese concentrates that befit processed cheese applications. Over the forecast period, processed cheese application of cheese concentrates will reflect fastest consumption by registering a volume CAGR of 9.8%, accounting for approximately 30% of global market volumes.
Companies namely, Land O’Lakes, Inc., The Kraft Heinz Company, Archer-Daniels-Midland Company, Dairy Farmers of America, Inc., Bluegrass Dairy & Food, Inc., All American Foods, Inc., Edlong Dairy Technologies, First Choice Ingredients, Clofine Dairy & Food Products, Inc., Commercial Creamery Company, Kerry Plc, Ingredion Inc., and Butter Buds Inc. will be observed as prominent cheese concentrate producers in the world. Majority of these players will be augmenting the production of powdered cheese concentrates in the future. Effectiveness in a range of food applications such as dairy seasonings and flavor enhancers will instrument the growing consumption of powdered cheese concentrates, which is expected to reflect more than 70% global market volume share by 2026-end.