A significant rise in the demand for processed food and functional food across the globe is expected to boost the growth of the food culture market in the forthcoming years. Moreover, the growing demand for clean-label products among consumers in developed economies is offering a lucrative growth opportunity to the market players.
PORTLAND, Ore., Dec. 15, 2023 /PRNewswire/ -- According to the report published by Allied Market Research, the global food cultures market was estimated at $47.7 billion in 2022 and is expected to hit $75.8 billion by 2032, registering a CAGR of 4.8% from 2023 to 2032. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and enhancing their position in the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $47.6 Billion |
Market Size in 2032 | $75.8 Billion |
CAGR | 4.8 % |
No. of Pages in Report | 400 |
Segments covered | Product, Application, Function, and Region. |
Drivers | • Growth in the demand for processed food • Clean label on food ingredients is grabbing consumer's attention |
Opportunities | • Adoption of sustainable production process for microbial food cultures |
Restraints | • Increase in cost fluctuation for microbial food cultures • Increase in allergy concerns |
The global food cultures market is analyzed across product, application, function, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise strategies based on the highest revenue-generating and fastest-growing segments stated in the report.
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By product, the probiotic cultures segment held the highest share in 2022, garnering more than three-fourths of the global food cultures market revenue. The starter cultures segment, on the other hand, is expected to showcase the fastest CAGR of 6.0% throughout the forecast period.
By application, the dairy segment contributed to around one-third of the global food cultures market share in 2022 and is projected to remain dominant by 2032. The beverages segment would display the fastest CAGR of 5.3% throughout the forecast period.
By function, the preservative segment accounted for the highest share in 2022, generating over two-fifths of the global food cultures market revenue. The flavoring segment, however, is expected to portray the fastest CAGR of 5.4% during the forecast period.
By region, North America held the major share in 2022, garnering more than one-third of the global food cultures market revenue. The Asia-Pacific region would showcase the fastest CAGR of 6.0% from 2023 to 2032. The other provinces studied through the report include Europe, and LAMEA.
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Leading Market Players: -
- Chr. Hansen Holding A/S
- Angel Yeast Co., Ltd.,
- &O Laboratories,
- Lallemand, Inc.,
- Wyeast Laboratories,
- Koninklijke DSM N.V.,
- International Flavors & Fragrances Inc.,
- Lactina Ltd.,
- Dohler GmbH,
- LB Bulgaricum Ltd.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report helps formulate the business performance and developments of the top players.
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