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″, The global cheese ingredients market is projected to reach USD 102.14 Billion by 2022, in terms of value, at a CAGR of 3.24% from USD 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.
The meteoric rise in the fast food industry impacted the demand for cheese ingredients.
The market is driven by increase in demand for cheese as a key ingredient in the fast food industry. Furthermore, factors such as rapid growth in the fast food industry are expected to increase the demand for cheese, subsequently increasing the demand for cheese ingredients. However, there are several restrictions on the levels of contents and their usage in the cheese making process imposed by various regulatory bodies, which act as a restraint for the market growth. Additionally, consumer shift toward the consumption of vegan food products is also expected to affect the market growth.
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Abolition of milk quotas in the European Union to provide significant growth opportunities for cheese ingredient market.
The milk market in EU was regulated by the quota system that was legislated on 2 April 1984, under the Dairy Produce Quota Regulations 1984. Under this system, all the member states of EU were given national milk production quotas and any nation exceeding the limits was liable for a penalty known as ‘super levy’. There were five kinds of quotas: direct sales quota, wholesale quota, purchaser quota, purchaser special quota, and SLOM quota. Such a restriction on the production of milk in the EU had limited the quantity of milk that can be used as an ingredient by the cheese manufacturers. Reduced milk production has also resulted in loss to the European cheese exporters.
Abolition of the milk quotas on 31 March 2015 had outpaced the production and supply of milk in the European region. According to EUROPA, the abolition of milk quotas is expected to increase the milk production by ~5.0%, while lowering the farm milk prices by 10.3%. The cheese manufacturers can now procure the key raw material in higher quantities at a lower price. This provides great opportunity to the cheese manufacturers and farmers to increase their production and generate exports.
The natural cheese segment is projected to grow at the highest rate for the cheese ingredients market during the forecast period.
The global market, based on cheese type, has been segmented into natural cheese (which includes cheddar, parmesan, mozzarella, Gouda, Swiss, blue, ricotta, feta, Romano, and cottage) and processed cheese (which includes restricted-melt, standard-melt, and quick-melt). The natural cheese segment dominated this market in 2016 due to its popularity in the North American and European regions owing to the rise in health awareness among consumers. Furthermore, among the types of natural cheese, the demand for mozzarella cheese is expected to grow in North America owing to growing popularity of Italian dishes such as pizza. This, in turn, is expected to increase the demand for cheese ingredients.
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Asia Pacific is estimated to be the most lucrative market for cheese ingredients
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).
