Food Cultures Market Is Expected to Reach $75.8 Billion by 2032: Says AMR

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Dec 15, 2023, 03:49 ET

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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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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