The latest market report published by Credence Research, Inc. “Global Starter Culture Market– Growth, Future Prospects and Competitive Analysis,2016 – 2024” the starter culture market was valued at USD814.4Mn by value and 1,107.5 kilo ton by volume in 2015, and is expected to reach USD1,426.9 Mn by value and 1,896.1 kilo ton by volume by 2024, expanding at a CAGR of 6.1% by value and 5.8% by volume from 2016 to 2024.
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Starter culture is the key ingredient of various fermentation industries and it is anticipated that starter culture will grow significantly during forecast period due to increase in use of fermented food and beverages, with rampant consumption of alcoholic globally. Starter culture market is segmented on the basis of type of microorganism use such as lactic starter culture and non lactic starter culture. Lactic starter culture further segmented as Cocci and Rods. Non lactic starter culture further segmented as Bacteria (Except Rods and Cocci), Molds and Yeast. Currently Lactic acid starter culture held largest market share as it is a key ingredient of various baked products, probiotics and beverage preparing industries. Global starter culture market categorized on the basis of strain used to initiate fermentation process; currently mix strain starter culture is major revenue generating segment due to its consistency and predictability widely accepted in milk industry especially in cheese manufacturing industries. According to micro-organisms growth temperature global starter culture market segmented as mesophilic starter culture and thermophilic starter culture. Mesophilic starter cultures held the largest share because mesophilic starter cultures are primarily preferred for American-style and specialty cheeses while thermophilc starter cultures are frequently used in Italian-style cheeses. Global starter culture market also categorized on the basis of application of starters such as alcoholic and non-alcoholic product; Non-alcoholic starters is major revenue contributor because it plays important role in manufacturing of cheese, baked and dairy products. In the base year 2015, Europe was observed as the largest regional market followed by North America due to tremendous technological advancement, highest demand for alcoholic beverage in this region, increased use of probiotics and willingness of consumers to pay premium prices for beverages with health benefits are driving the market growth in these region.
Market Competition Assessment:
The Starter culture market is observed as the most competitive and comprises of large number of players. However, the market is dominated by fewplayers such asChr. Hansen A/S, Danisco A/S, and Lasaffre group. Other key players in this market are C.S.K. Food enrichment B.V., D.S.M. Food Specialities, Biena, Lallemand Inc., Wyeast laboratories and others.
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Key Market Movements:
– Change in consumers’ dietary pattern, rising demand for fermented, baked and dairy based products, substantial increase in the demand for alcoholic beverages are key growth driver for the market.
– Increased consumer awareness for preventive and better healthcare, increased use of probiotic drinks, discovery of novel probiotics, would further drive the market during forecast period.
– Discovery of novel probiotics and fermented diary beverages will further influence the demand of the nutritious fermented product.
– As the starter culture does not have specific definitions due to its varied application, so it is difficult to assess uncertainties are associated with it.