Cheese Concentrate Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

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.

For more extensive insights on the cheese concentrate market, request for a free report sample

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.

For more insights on the competitive landscape of the cheese concentrate market, request for a free report sample here

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.

Request research methodology of this report.