PUBLISHER: DataM Intelligence | PRODUCT CODE: 1372579
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1372579
Global Food Cultures Market reached US$ 1.7 billion in 2022 and is expected to reach US$ 2.8 billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.
The rise of technology is driving the global food cultures market. Online food delivery services, food blogging, and social media platforms are transforming consumers to discover, and order food leading to an increased interest in food trends. Consumers have dietary preferences and restrictions, such as veganism, gluten-free, and keto diets. Food companies are offering a wider range of products that cater to these individual preferences.
North America has a significant and diverse consumer base with a growing interest in health and wellness is increasing the demand for food products that incorporate food cultures including probiotics and fermentation, which is propelling the growth of the market. Food manufacturers in the region are quick to recognize the potential of food cultures in meeting consumer preferences for healthier products.
For instance, on February 23, 2022, Good Culture, the clean-label cultured foods brand credited with revolutionizing cottage cheese, announced the completion of $64 million fund in Series C funding. The funding round was led by Manna Tree, with participation from SEMCAP Food & Nutrition and celebrity investor Kristen Bell, a superfan of the brand.
As more consumers prioritize health and wellness, there is a shift in their preferences toward healthier and more nutritious foods is influencing the food cultures market as manufacturers are developing and promoting products that align with these preferences. The health and wellness trend is a global expansion prompting food culture companies to expand their market presence internationally to cater to the growing demand for healthier food options worldwide.
For instance, on September 19, 2023, Dsm-Firmenich, a renowned global player in the fields of nutrition, health, and beauty, launched DelvoFresh Pioneer, an innovative line of starter cultures tailored for the creation of exceptionally mild yogurts. These cultures offer remarkable pH stability during production and throughout the product's shelf life, effectively meeting the demands of yogurt manufacturers for premium ingredients and a consistently mild flavor that endures over time.
Globalization is leading to a mixing of culinary traditions and tastes, resulting in diverse consumer preferences presenting opportunities for the food cultures market to cater to a wide range of tastes and dietary preferences, thereby expanding its market growth. Food culture companies are capitalizing on the global interest in different cuisines by expanding their products to markets. They are adapting their cultures to suit culinary traditions, broadening their market presence.
Globalization is rising to fusion foods that blend elements from various culinary traditions. Food cultures are used to create these fusion products, catering to consumers who seek unique and culturally diverse dining experiences. As consumers explore global cuisines, there is a growing demand for authentic flavors and traditional food preparation methods. Food cultures are ensuring the authenticity of cultured foods from different regions, thereby driving their market demand.
Supply chain challenges, such as delays in the availability of essential ingredients and disruptions in production processes, can hinder the timely production of food cultures. This can result in shortages in the market, leading to uncertainty for food manufacturers. Supply chain disruptions often lead to increased costs for transportation, storage, and procurement of raw materials and manufacturers potentially reducing the affordability of their products in the market.
Supply chain challenges can divert resources and attention away from research and development efforts. Food cultures companies have to allocate more resources to address supply chain issues, limiting their ability to innovate and introduce new products to the market. Supply chain disruptions can create uncertainty in the market, making it difficult for food cultures companies to plan and forecast their production and distribution and reducing market stability.
Price fluctuations in key ingredients and raw materials used in food cultures production can create cost uncertainty for manufacturers leading to challenges in budgeting and financial planning, potentially impacting their ability to invest in research and development and expand their market presence. Manufacturers absorb these increased costs, which can affect profitability, and pass them on to customers, potentially making their products less competitive in the market.
Price fluctuations can make consumers more price-sensitive. They seek lower-priced alternatives and reduce their consumption of products that rely heavily on food cultures, which can impact overall market demand. In a market with price fluctuations, competition can intensify as companies vie to maintain and gain market share. This competition can put pressure on profit margins, making it difficult for food cultures companies to maintain healthy profitability.
The global food cultures market is segmented based on microorganism type, product type, function and application, and region.
Starter cultures are versatile and find application in various food and beverage products and are contributing to segment dominance in the market. The dairy industry, in particular, relies heavily on starter cultures. Yogurt, cheese, and other dairy products require specific strains of bacteria to initiate fermentation, making the starter cultures segment a substantial part of the overall food cultures market.
Starter cultures play a pivotal role in ensuring consistency and quality in fermented food products. Food manufacturers prioritize these attributes to meet consumer expectations, making starter cultures a crucial element of the market. Advancements in biotechnology and microbiology are leading to the development of specialized starter cultures. These innovations cater to the specific needs of food manufacturers, enhancing the attractiveness of the segment in the market.
North America is dominating the global food cultures market. The region had a substantial and diverse consumer base with a strong appetite for food products that incorporate food cultures. The region boasts an advanced and sophisticated food and beverage industry. Food manufacturers in the region are recognizing the potential of food cultures in meeting consumer preferences for healthier and more natural products, which is significantly bolstering the market.
The health and wellness trend is a market-impacting force in the region, with consumers seeking products that support gut health, immunity, and overall well-being. Food cultures, known for their probiotic properties, are perfectly aligned with these trends, further supporting their adoption in the market. North America is witnessing extensive innovation in the development of new food products that incorporate food cultures coupled with a wide range of products and is propelling market growth.
The pandemic disrupted global supply chains and has affected the availability of ingredients and raw materials. Food cultures production was impacted, which has led to delays and shortages in the market. Restaurant closures and reduced food service operations led to a decline in demand for food cultures used in commercial food preparation, negatively impacting the market.
However, the pandemic heightened awareness of health and wellness and has led to increased demand for immune-boosting products. Probiotic-rich foods, which often rely on food cultures, saw a surge in demand, which has positively impacted the market. Lockdowns and restaurant closures prompted a surge in home cooking. As people experimented with making their own fermented foods and sourdough bread, there was a boost in demand for food cultures for homemade applications.
The conflict disrupted supply chains, especially as Ukraine, a major supplier of grains and dairy products, faced challenges in production and export. This led to shortages of key ingredients, impacting production capacity and market availability. Supply disruptions led to price volatility for agricultural commodities and ingredients used in food cultures. Fluctuating prices affected production costs, which, in turn, impacted product pricing in the market.
Geopolitical tensions created uncertainty in international trade and diplomatic relations. Food cultures companies involved in global trade faced challenges related to trade restrictions and tariffs, affecting their market strategies and competitiveness. The conflict had varying regional impacts on the food cultures market. Regions closer to the conflict experienced more significant disruptions in supply chains and trade, which affected local markets.
The major global players in the apricot oil market include Kerry Group PLC, Koninklijke DSM NV, DuPont de Nemours, Inc., Corbion NV, Cargill, Incorporated, Lallemand Inc., CSK Food Enrichment USA Inc., Chr. Hansen Holding A/S and International Flavors & Fragrances Inc.
The global food cultures market report would provide approximately 58 tables, 58 figures, and 186 Pages.
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