Demand for nutrition-rich food products continues to push demand for cheese concentrates in Asia Pacific. Fermented dairy products such as cheese are turning out to be a vital source of nutrition, and it is highly likely that demand will witness an upsurge in the region during the assessment period. Growing per capita income and expenditure on the dairy products in Asia-Pacific have meant that future prospects of cheese concentrate market will be promising. China’s dominance of the Asia Pacific cheese concentrates market is likely to continue, with India and ASEAN witnessing healthy growth.
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Growing demand for better quality dairy products has been influencing manufacturers in Asia-Pacific to increase cheese concentrate in their upcoming product portfolio. This in turn is likely to create lucrative growth avenues for cheese concentrate market during the forecast period. However, government policies and guidelines with regards to usage of standardized cheese concentrate, resulting in adoption of high cost cheese products, are expected to pose challenges for the cheese concentrate market in Asia-Pacific. Fact.MR finds that technological innovations and increasing consumption of dairy products will continue to stimulate the growth of the cheese concentrate market in Asia-Pacific.
Revenues from cheese concentrates sales in APAC will continue to hold a significant share in the global market, underpinned by increasing demand for processed cheese. Apart from this, efforts are being taken by the manufacturers in developing cheese concentrate products, considering the health benefits for children, need for brand oriented products, and demand for private label cheese. Although APAC will register a relatively faster growth in the cheese concentrate market, North America will continue to hold dominance in terms of revenues, trailed by Europe during the period of forecast.
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Fact.MR study states that cheese concentrate market across the globe will register an impressive 8.4% CAGR during the forecast period, 2017 to 2026.North America’s dominance on cheese concentrate market can be attributed to the region’s position as the largest exporter and producer of cheese, coupled with rapid urbanization and growing disposable income of consumers. Manufacturers in the dairy ingredient market have been taking immense efforts in developing innovative cheese products integrated with improved textures and unique flavors for the purpose of increasing product value. Food industry players have been adopting cheese concentrate for the purpose of low-fat applications, which would help them in replacing processed and raw cheese cost-effectively.
Rapidly increasing demand for milk products in the consumer diet has further driven cheese concentrate applications, resulting in companies extending their product portfolios. High consumption rate of bakery products in Europe has led to significant boost in the region’s cheese concentrate market. In addition, the prime ingredient across bakery industry in Europe turns out to be cheese concentrate. Growing number of health conscious consumers are playing a pivotal role in the growth of cheese concentrate market, thereby creating opportunities for manufacturers to develop cheese with low-fat content and in snack-sized portions. Snacking is witnessed as an emerging theme that enables the key players and manufacturers to launch products in cubed or sliced format.
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