The global cheese concentrates market is set to be valued at USD 1858 million in 2023 and is projected to grow at a CAGR of 5% during the forecast period. The market is expected to reach a valuation of USD 2979.7 million by 2033. Demand for cheese concentrates is anticipated to showcase year-on-year (Y-o-Y) growth of 7.8% in 2022.
| Report Attribute | Details |
|---|---|
| Global Cheese Concentrates Market Estimated Size (2023E) | USD 1858 million |
| Projected Market Valuation (2033F) | USD 2979.7 million |
| Value-based CAGR (2023 to 2033) | 5% |
Highly versatile cheese concentrates can be used in numerous food applications as these products are a cost-effective substitute for natural cheese. The flavor strength of cheese concentrates can be 15 to 20x stronger than that of standard cheese. They are mainly available in powder and paste forms with a shelf life of 6-12 months.
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The global cheese concentrates market exhibited growth at 7.7% CAGR between 2017 and 2021. Increasing demand for unique flavors such as artisanal and international cheese from modern consumers is set to drive the global market.
Also, consumers nowadays are looking for healthy options to maintain their overall health and wellness. They are purchasing low-fat, low-sodium cheese with a clean label and no complex additives. Thus, key players in the cheese concentrate market are making new formulas to attract more consumers.
Spurred by the aforementioned factors, the global cheese concentrates market is anticipated to showcase growth at a CAGR of 7% in the forecast period from 2023 to 2031.
Companies are Developing Unique Dairy Free Cheese Alternatives
Shredded cheese can be spread evenly, thereby providing a consistent texture without issues of clumping or sticking to the food product. Cheese concentrates companies like Ingredion are producing innovative shredded cheese concentrates in the USA for use in salad bars, the food service industry, or at home.
Bakery Sector to Utilize Dairy-Free Cream Cheese Substitutes
Cheese concentrates are extensively used as cheese sauce in ready meals like macaroni & cheese, pasta dishes, soups, and risotto. Being a cost-effective substitute to natural cheese, the United Kingdom bakery sector is likely to use cheese concentrates in various products like breadsticks, bread, cheese croissants, cream rolls, and crackers.
Long Shelf Life of Natural Dairy-Free Cheese Alternatives to Aid Growth
Natural cheese concentrates are exhibiting surging demand in Germany owing to their authentic taste. These are offered in paste form and refrigerated at 3-8°C amid shipping and sorting processes.
Further, natural cheese concentrates have a longer shelf life, as compared to conventional cheese, with a validity of around 12-24 months. These products are mainly converted from natural cheese flavor pastes into powder form by using spray drying technology with a storage temperature of 20-25°C.
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Food Service Providers to Adopt Natural Cheese-based Concentrates
Based on buyers, the food service providers segment is anticipated to remain at the forefront by generating the largest cheese concentrates market share in the forthcoming years. Cheese concentrates, made from natural cheese and dairy ingredients, can provide excellent performance in low-fat applications with an authentic cheese profile and smooth balanced flavors.
The cost-effective production process allows for the reduction or replacement of cheese in a variety of applications with consistent flavor delivery in the food industry, thereby leading to high product demand. Increasing demand for clean-label, low-fat food products across the globe is another crucial factor that would drive the market.
The rising use of cheese concentrates in processed cheese products like cheese croissants, crackers, breadsticks, or artisan bread is also likely to aid growth. Besides, these can be utilized as a white cheese sauce or in pasta dishes, risottos, puffed cheese snacks, popcorn, and seasonings for crisps, nachos, or dips.
Key cheese concentrates manufacturers are aiming to capture more market share with joint ventures, partnerships, and mergers & acquisitions. They are also conducting exhaustive research activities for the development of innovative product lines, supported by governments.
Top cheese concentrates brands are focusing on upgrading and modifying their products with rising demand for new formulations from the food and beverage industry. Increasing cheese concentrates consumption among all age groups would create new growth opportunities for market players.
For instance,
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| Who | Change Foods Inc. |
|---|---|
| When | 2020 |
| What | Change Foods Inc., a Palo Alto start-up is focusing on making real cheese without using sheep, cows, or goats. The company has successfully raised D3.1 million from investors which include Plug and Play Ventures and Jeff Dean, a Google senior vice president, is yet to produce its cheese substitute. |
| Who | Formo |
|---|---|
| When | 2021 |
| What | Formo,a German alt-dairy start-up raised D50 million in Series A funding which will be utilized to ‘turbomegacharge’ its progress by hiring additional potential talent, promoting its research and development and marketing capabilities, and clambering up its production capacity. This funding will also assist the Berlin-based start-up to move into a new headquarters. |
| Who | Nobell Foods |
|---|---|
| When | 2021 |
| What | Nobell Foods, an alt-dairy molecular farming start-up has just received D75 million in Series B funding which was led by Bill Gates’s Breakthrough Energy Ventures. With the new funding, the company plans to launch its vegan cheddar and mozzarella cheese by the end of 2022. |
Some of the key players in the cheese concentrate market are:
| Who | Land O Lakes |
|---|---|
| When | June 2022 |
| Strategic Move | Land O Lakes Cheese can now be found in the dairy section of grocery stores with seven novel product launches in selected retailers. Wisconsin farmers supply the milk which is shipped to the Land O’Lakes Kiel, Wisconsin plant, where it is made into award-winning cheese. |
| Who | Archer Daniels Midland Company |
|---|---|
| When | August 2022 |
| Strategic Move | ADM, a global leader in alternative protein and nutrition products and solutions, and Benson Hill, Inc., a food tech company unlocking the natural genetic diversity of plants, strategically partnered to rule inventive soy ingredients that will assist meet the swiftly increasing demand for plant-based proteins. The partnership will assist a variety of plant-based food and beverage markets to meet savory, sweet, and dairy customer needs. |
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 1579.1 million |
| Projected Market Valuation (2032) | USD 3532.9 million |
| Value-based CAGR (2022 to 2032) | 8.4% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2016 to 2021 |
| Market Analysis | Value (USD million) |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East and Africa |
| Key Countries Covered | United States of America, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, and Central Africa |
| Key Segments Covered | Product Type, Form, Buyer, Application, Sales Channel, and Region |
| Key Companies Profiled | Archer Daniels Midland Company; Ingredion Incorporated; Adare Food Ingredients Pvt Ltd; Dale Farm Ltd; C.P. Ingredients Ltd; Land O’ Lakes Inc.; Dairy Farmers of America, Inc.; First Choice Ingredients (DSM); Butter Buds Inc.; GoBia Ltd; Puramio India Pvt Ltd; Jeneil Bioproducts GmbH; Others |
| Report Coverage | Market forecast, company share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, market dynamics and challenges, and strategic growth initiatives |
The market in 2023 is valued at USD 1858 million.
By 2033, the market will expand at a 5% CAGR.
By 2033, the market will reach USD 2979.7 million.
From 2017 to 2021, the global market exhibited a 7.7% CAGR.
Dale Farm Ltd, C.P. Ingredients Ltd, Land O’ Lakes Inc. are some key players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Mozzarella Cheese 5.2. Cheddar Cheese 5.3. Parmesan Cheese 5.4. Swiss Cheese 5.5. Goat Cheese 5.6. Blue Cheese 5.7. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Powder 6.2. Paste / Spread 6.3. Chunk 6.4. Grated 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Buyer 7.1. Commercial Bakers 7.2. Artisan Bakers 7.3. Retail Buyers 7.4. Food Service Providers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Bakery & Confectionery 8.2. Processed Cheese 8.3. Sauces, Dressings, Dips & Condiments 8.4. Dairy & Desserts 8.5. Snacks & Savory Items 8.6. Ready Meal Production 8.7. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 9.1. B2B / HoReCa 9.2. B2C 9.2.1. Hypermarkets /Supermarkets 9.2.2. Convenience Stores 9.2.3. Mom and Pop Stores 9.2.4. Discount Stores 9.2.5. Food Specialty Stores 9.2.6. Independent Small Groceries 9.2.7. Online Retail 9.2.8. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Archer Daniels Midland Company 20.2. Ingredion Incorporated 20.3. Adare Food Ingredients Pvt Ltd 20.4. Dale Farm Ltd 20.5. C.P. Ingredients Ltd 20.6. Land O’ Lakes Inc. 20.7. Dairy Farmers of America, Inc. 20.8. First Choice Ingredients (DSM) 20.9. Butter Buds Inc. 20.10. GoBia Ltd 20.11. Puramio India Pvt Ltd 20.12. Jeneil Bioproducts GmbH 21. Assumptions & Acronyms Used 22. Research Methodology
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Cheese Concentrates Market
