Growing Preference for Snacking to Bolster the Cheese Concentrate Market Growth
Prominent players involved in the cheese concentrate market hold a nominal share, as the market is driven by domestic and local market players. Approximately 75% of the market share is captured by regional and local players, and the rest 25% has been captured by prominent market players operating in several regions across the globe. The global cheese concentrate market is expected to further witness fragmentation with the entry of more number of regional players.
A Fact.MR study projects the global cheese concentrate market to grow at a positive CAGR of ~10% in terms of value during the forecast period (2019–2029).
The growth in demand for flavored cheese and growing need for paste cheese concentrates over the past few years has been primarily linked to the rapid advances made in cheese concentrates and the sheer variety of options available to various consumers. There has been a shift in the snacking market, as consumers are inclined towards natural ingredients and flavored cheese concentrates for various dressings. Thus, snacking applications are likely to play a prominent role in amplifying the overall sales of cheese concentrates during the forecast period.
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The Demand for Cheese Concentrate is Flourishing Owing to Easy Blending with Other Ingredients
Cheese concentrates are made from natural ingredients such as milk and whey. Hence, it is known for its health-enhancing functions. Cheese concentrate is used in several low-fat food preparations owing to the declaration of being a clean-label product made totally from natural components. Cheese concentrate is also available in different flavors that are both smooth and consistent, thereby facilitating easy blending with other ingredients and resulting in a finer end product. Cheese concentrate is relatively optimal on the cost front, and can be used in smaller quantities than natural cheese. This makes cheese concentrate the most preferred ingredient for use in food products, which need to incorporate low quantities of cheese to maintain the healthy food tag. The inherent benefits and functionalities of cheese concentrate is one of the main reasons for its increased demand in the food industry.
Powder Form of Cheese Concentrate to Enjoy the Highest Demand
Consumer preference for snacks such as popcorn and chips is likely to surge the demand for the powder form of cheese concentrates across the globe. Based on form, the powder form of cheese concentrate is expected to witness high revenue growth, and is likely to grow at a CAGR of ~8% over the forecast period. However, the paste segment is likely to index a nominal CAGR by 2029. The paste form of cheese concentrate is used in different kinds of sauces and dips. The preference for flavored dips is likely to bolster the demand for cheese concentrate paste during the forecast period.
Food Service and Snacking Applications to Positively Influence the Market
The buyer decision in the cheese concentrate market might be influenced by the various applications of cheese concentrates. Cheese concentrate-flavored paste is added to sauces and dips made of cheese, which is likely to boost the market for cheese concentrates. Thus, there is huge market potential for cheese concentrates due to distinct flavors as well as improved tastes.
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Cheese Concentrate Market – Regional Developments in the Market
Owing to the hectic and rush hour lifestyles in developed regions, consumers are preferring on-the-go food products or food items that are easy to carry or quick to make and consume. As a result, the demand for cheese is gaining traction across all the geographies of the globe. Cheese has been a prominent food item in North America for decades now and is a part of the daily diet of the people living in the region. As cheese has many advantages and health benefits associated with it, consumers in the region prefer adding it to their daily meals and even consume it as a snack for increasing the nutritional value of the food they consume. With consumers becoming more health conscious and having altering taste preferences, cheese concentrate has turned out to be a favored food product in the region.
With the market in Europe and North America moving towards a saturation point, manufacturers of cheese concentrate are looking for regions that will present them lucrative opportunities in the future. The growing cheese market in Latin America will open a plethora of opportunities for market players to capitalize on. Exports of cheese and cheese concentrate from the region are rising and countries leading this consumption are Uruguay, Argentina, Brazil, and Chile. The growing middle class population in the region and changing diet and taste preferences of consumers are primary factors behind the rising consumption of cheese concentrate in Latin America. Cheese concentrate is a cheap substitute for cheese, and can be used in a variety of applications. Although the dairy industry in the region is going through a decline, the consumption of cheese is however stable. This will bode well for the Latin America cheese concentrate market.
Europe is the largest consumer of cheese in the world. Several varieties of cheese are available in the region and the application of cheese is also widespread in the food industry in Europe. The region has special cheese refineries and manufacturing units. The use of cheese and cheese concentrate is high in bakeries and households as cheese forms a crucial part of the daily diet of consumers in Europe. The demand for cheese concentrate is relatively high in countries such as Germany, Denmark, Finland, France, Italy, and the U.K. The growth of the food and beverages industry and the expansion of HoReCa in the region is also expected to have a positive impact on the cheese concentrate market in the region. However, Europe might also fall prey to market saturation and manufacturers need to concentrate on structured R&D initiatives for product innovation.
Japan is slowly emerging as one of the lucrative markets for cheese concentrates with the trend of mild snacking increasing in the region. Moreover, with the trend of drinking gaining traction in Japan, the need for healthy and inexpensive options is also increasing, making cheese concentrate the perfect food ingredient for this purpose. The demand for cheese in Japan is more in households where people enjoy home cooking.
Asia Pacific Excluding Japan (APEJ) is the third largest consumer of cheese and related products in the world. With the growing acceptance of western culture in the region, the food habits and taste preferences of people are also increasing at an extensive rate. In spite of the growing disposable incomes of people in the region, consumers still look for inexpensive food options. As a result, the demand for cheese concentrate is increasing in several countries in APEJ. Moreover, the growth of the fast food industry and the rising HoReCa sector in the region is likely to trigger the use of cheese concentrates to a significant extent.
The Middle East and Africa is anticipated to present manufacturers of cheese concentrate new and lucrative growth prospects. As the governments in the region are looking forward to generating revenue from other sources apart from oil reserves, a variety of industries are emerging as highly profitable options. One of them is the dairy industry. Countries in the MEA region such as Saudi Arabia, the UAE, and Egypt are inclining towards the consumption of cheese concentrate as these countries have a high tourist footprint and are hubs of several international cuisines. This innovation in regional cuisine has also spurred the demand for cheese concentrate in the region.
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The cheese concentrate market is projected to witness a notable rise in the sales during the forecast period of 2019 to 2029, according to a new Fact.MR study. The study comprises key trends that are currently influencing the growth of the cheese concentrate market. This recently published and insightful report sheds light on prominent dynamics, which are likely to affect the future of the cheese concentrate market. It also sheds light on productive avenues for prominent manufacturing companies as well as emerging players associated with processing and production of cheese concentrates.
This market study provides intricate market intelligence on key revenue growth determinants, challenges, industry trends, and opportunities, which will eventually influence the growth of the cheese concentrate market. The report initially offers an overview of the market, considering current and future food and functional foodstuff industry prospects, to unveil attractive facets pertaining to the acceptance of cheese concentrate across key regional markets.
An in-depth assessment on few cheese concentrate suppliers offered enables report readers to gain detailed insights that have been derived from cheese concentrate supply chain analysis, business performance, and value chain analysis across regional markets. A list of prominent companies operating in the cheese concentrate market has been provided in the report, which adds credibility to this exhaustive research study.
Cheese Concentrate Market: Report Summary and Scope
The study offers detailed intelligence on different factors influencing revenue generation, sales, and demand for cheese concentrate in markets around the world. The opportunity analysis included in the report is useful for readers to comprehend better opportunities in functional and processed food industries.
A detailed forecast for the cheese concentrate market has also been offered by analysts, who have categorized market forecasts concerning a likely scenario, conservative scenario, and an optimistic scenario regarding sales of cheese concentrate during the period of forecast. Price point analysis and assessment by region and different types of cheese concentrate have been included in this robust study. The study also exerts details on aspects impacting pricing strategies of producers and cheese concentrate processors. Categories in the cheese concentrate market are also provided in the form of a table in the report.
Snacks & Savory
Bakery & Confectionery
Sauces, Dressings, Dips & Condiments
Ready Meal Production
Food Service Providers
Supermarkets & Hypermarkets
Other Sales Channel
Cheese Concentrate Market: Analysis on Market Size Evaluation
Current and future prospects of the cheese concentrate market, containing projected values forecast, price index, and analysis on region-wise demand trends have been incorporated in the report. The assessment offered on factors mentioned above is comprehensive and dedicated weighted chapters have been delivered on the same.
Market valuations at the global and regional scale for the cheese concentrate market are offered in terms of “US$ Mn.” Y-o-Y growth comparisons on key cheese concentrate market segments, along with the market attractiveness assessment, quantify various insights that are delivered in the report. Metrics mentioned above are also tracked based on cheese concentrate applications and usage.
Cheese Concentrate Market: Scrutinized Assessment on Regional Segments
Weighted chapters are included in the report on the cheese concentrate market, which impart forecast on regional markets. These chapters illuminate the regional macros (business, economic, and political environment outlook), which are most likely to have significant impact on the growth of the cheese concentrate market in the near future.
Country-specific assessment for the demand for cheese concentrate has been provided for each regional market, along with market size valuation and forecast, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. Y-o-Y growth projections on all regional markets are also incorporated in the report.
Cheese Concentrate Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competition landscape of the cheese concentrate market, which profiles key companies contributing to market expansion. Up-to-date and essential data as well as knowledge related to market players, who predominantly engage in production and distribution of cheese concentrate, have been delivered with the help of a dashboard view. Market share comparison and analysis of these market players offered in the report enable report readers to devise strategic steps for their businesses.
Company profiles have also been incorporated in the report, which exert details such as manufacturing of cheese concentrate, along with a comprehensive SWOT analysis on each player, identified together with the company’s strategies, identification, and analysis. The intensity mapping of players operating in the cheese concentrate market provides actionable intelligence, which helps in understanding the current market status and prospects determining competition levels in the cheese concentrate market. Prominent players operating in the global cheese concentrate market include The Kraft Heinz Company, Land O’ Lakes Inc., Dairy Farmers of America, Inc., Archer Daniels Midland Company, All America Foods Inc., Kerry Group Plc., Commercial Creamery Company, Grozette B.V., First Choice Ingredients, C.P. Ingredients Ltd, Fromatech Ingredients B.V., Kanegrade Ltd, Vika BV, and others.
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