According to the latest report by IMARC Group, titled "Paneer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global paneer market reached a value of US$ 8 Billion in 2017. Paneer, also known as cottage cheese, is a non-melting, unaged farmer cheese made by coagulating milk with a vegetable-derived acid. It is used in the preparation of a variety of culinary snacks and dishes. Paneer generally has a sweetish-acidic flavor, white appearance along with a close-knit texture, and firm, spongy, and cohesive body. It is rich in proteins as well as other essential minerals such as fat, iron, potassium, calcium and magnesium. In addition to this, paneer offers numerous health benefits such as strengthening bones, maintaining blood sugar levels, improving digestion and boosting weight loss. Other than this, as paneer is a coagulated form of casein, it helps in releasing energy at a faster pace as compared to casein. Owing to these properties, paneer is largely preferred amongst bodybuilders, athletes, sprinters and other sports enthusiasts.
As paneer is a rich source of various nutritional elements including thiamine, vitamin B12, riboflavin, pantothenic acid, phosphorus, zinc, selenium, etc., it caters to the different dietary requirements of consumers, thereby contributing to the growth of the market across the globe. Apart from this, there has been a rise in the number of health-conscious consumers who prefer paneer over its alternatives as it helps in forming cartilages, enhancing metabolism, regulating blood pressure and strengthening the immune system. Moreover, the escalating demand for paneer can also be attributed to its easy preparation process which makes it an ideal solution for the consumers who are leading a hectic lifestyle. Due to these factors, the global paneer market is expected to reach a value of US$ 18 Billion by 2023, at a projected CAGR of 14.5% during 2018-2023.
- The market has been analyzed on the basis of regions which include Asia Pacific, North America and Europe. Amongst these, Asia Pacific represents the largest market for paneer, holding the majority of the total market share. This can be mainly attributed to large-scale utilization of paneer in the preparation of numerous traditional cuisines across the region. Additionally, paneer is consumed as a substitute for meat products in countries like India owing to a large vegetarian population.
- The competitive landscape of the global paneer market has also been examined with some of the key players being Amul, Parag Milks Foods, Mother Dairy, Saras, VRS Foods.
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