Asian Countries exhibit Promising Future in Food Culture Market
Food culture market is presumed be an evolving market. Different companies in the global market are leveraging different competitive aspects like cost-effectiveness, value addition and taste enhancement in food. This makes the competitive landscape very intense. Different types of food products including lactose-free and plant-based food products are highly demanded in market. Food products rich in probiotic also surge the food culture market. Latest Fact.MR report predicts the global food culture market to exceed the value of US$2.4Bn by the end of year 2027. Technological advancements and scientific advances have popularized bio-protection techniques in starter cultures. These techniques allow the producers in the global market to enhance the shelf life of different food products that can be easily stored and consumed.
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Yeast and bacteria preferred for food culture
Regions like Europe and North America are witnessing increased production of dairy products like curd. Demographic shift is observed towards authentic and organic food products that are laced with all the safety criteria. Fact.MR report projects that the global food cultures market will grow at 7.2% CAGR during the forecast period 2019-2027.
Several industries that deal in fermented food use yeast and bacteria to research on food culture starters. Both bacteria and yeast are known to own 85% of the global market share. Their application in fermented food is on the basis of their positive attributes like enhanced shelf life and longevity. The application has significantly grown in the recent years owing to the accelerating demand for fermented food. Fermented food is primarily demanded by people in western countries for its taste and unique flavors. Major stake holders have acknowledged this growth in demand and are introducing new and different taste and flavors in the food products to gain a greater market penetration.
Europe leads global market in expenditure
Fact.MR report highlights the fact that Europe led the global food cultures market with one-third of the total expenditure in the global market in the year 2018 owing to the enhanced dairy production and easy governing regulations. Asian countries exhibit promising future in food cultures market in the forecast period on the backdrop of major market players concentrated in its developing regions like India and China. Producers in the global market are making huge investments in latest technologies to suffice the growing demand in these regions. One of the US-based companies named DuPont increased the capacity of its plant in Beijing by 112% to gain a greater foot hold in the region.
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Global food cultures market has been highly unorganized till date. Foreign firms are now investing in the markets of developing nations. Major players of food culture market are conducting R&D to come up with great products. Chr. Hansen launched a unique type of first culture that aids the producers to create naturally sweet products. DuPont introduced culture for fermented food that are plant-based. They claim that their new ingredient has the potential to extend the shelf life of food products and beverages that are based on fermented food and plants.