Paneer Market Size, Share, Demand, Companies and Forecast 2024-2032

IMARC Group has recently released a new research study titled "Paneer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the paneer market?

The global paneer market size reached US$ 10.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032.

Global Paneer Market Trends:

The rising popularity of vegetarian and plant-based diets, which has led to increased demand for versatile and high-protein vegetarian foods is acting as another significant growth-inducing factor. Concurrent with this, the increasing global exposure to Indian cuisine, where paneer is a key ingredient is aiding in market expansion, as people around the world become more adventurous with their culinary choices. Furthermore, significant advancements in dairy processing technologies and supply chain efficiencies have led to longer shelf life, enhanced product quality, and easier distribution of paneer, creating a positive outlook for market expansion.

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Factors Affecting the Growth of the Paneer Industry:

Rising awareness about its health and nutritional benefits:

The health and nutritional benefits of paneer contribute significantly to its popularity and market growth. Paneer, a type of fresh cheese common in South Asian cuisine, is rich in proteins, vitamins, and minerals, making it an attractive dietary option for individuals seeking nutritious food choices. Its high protein content, essential for muscle building and repair, along with calcium, which is crucial for bone health, positions paneer as a beneficial addition to various diets. The growing awareness among consumers about the importance of a protein-rich diet and maintaining a healthy lifestyle has led to an increased demand for paneer, particularly among health-conscious individuals and those following vegetarian diets, thereby fuelling the market growth.

Versatility in culinary applications:

The versatility of paneer in culinary applications significantly drives its market. Paneer's ability to blend well with a wide range of flavors and ingredients makes it a favored choice in numerous dishes, spanning from traditional Indian cuisines to innovative fusion foods. Its texture, which can range from soft and fluffy to firm and chewy, allows for diverse culinary uses, including grilling, frying, and as a base for sauces and gravies. This versatility not only makes paneer a staple ingredient in households but also in restaurants and food services that aim to cater to a broad spectrum of tastes and dietary preferences. The culinary flexibility of paneer thus opens up new avenues for its application in food products, contributing to market expansion and product innovation.

The expanding influence of cultural and dietary trends:

The global rise in vegetarianism and veganism, along with a growing inclination towards plant-based diets, has not directly impacted the paneer market, given its dairy origin, but has influenced consumer habits and preferences. In regions with significant vegetarian populations, such as India, paneer serves as an essential source of protein. Moreover, the cross-cultural adoption of ethnic foods has led to an increased familiarity and preference for paneer in Western countries. This trend is supported by the global diaspora from paneer-consuming regions, which has introduced and popularized paneer in new markets. Additionally, the rising interest in cooking and experimenting with diverse cuisines at home, partly fueled by digital media and cooking platforms, has further elevated paneer's status as a versatile and desirable ingredient, propelling the market forward.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Amul [Gujarat Cooperative Milk Marketing Federation (GCMMF)
• Parag Milk Foods Ltd.
• Mother Dairy Fruits & Vegetables Pvt Limited
• Saras (Rajasthan Cooperative Dairy Federation Ltd.
• VRS Foods Limited

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Regional Insights:

• Asia
• Europe
• North America
• Others

Asia's position as the largest market for paneer can primarily be attributed to its deep cultural and culinary roots in the region, where paneer is a staple ingredient in many traditional dishes.

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.