Paneer Market Size, Share, Growth, And Industry Analysis, By Type (Soft Paneer and Hard Paneer), By Application (Residential Use, Commercial Use, Others (Bakery & Confectionery, Sweet & Savory Snacks, Sauces, Dressings, Dips, and Condiments, Ready Meals, and Other), Regional Insights and Forecast to 2031

Paneer Market Report Overview

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The global Paneer market size was USD 8815.0 million in 2021. As per our research, the market is expected to reach USD 13810.0 million by 2027, exhibiting a CAGR of 7.77% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the Paneer market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels.

Paneer is a fresh farmer cheese made with cow's milk. It is unripened and has a mild flavor and a slightly grainy texture. Paneer is important in Indian cuisine where it is used in dishes such as palak paneer (spinach and paneer), Mattar paneer (peas and paneer), and Kadai paneer (paneer cooked with tomatoes, Bell Peppers, onion, ginger, and garlic). Growing demand for paneer as a low-fat, high-protein substitute for meat and cheese in the worldwide food sector. Consumers in developing nations are becoming more and more able to afford dairy products like paneer due to rising income levels. Indian food is becoming more and more well-liked worldwide, and many of the dishes use paneer cheese. Increased spending by dairy producers on paneer cheese product marketing and innovation. Extending the reach of distribution channels for the export of Indian dairy products, such as paneer, to foreign markets, all this has resulted in the acceleration of paneer market share and revenue systems.

COVID-19 Impact: Pandemic Led To A Decline in the Market Growth

The COVID-19 pandemic and the global lockdown guidelines had an impact on a number of commercial enterprises. Additionally, COVID-19 made it more difficult for people to mobilise for employment, especially farmers. People's incomes and purchasing power have declined as a result. Food insecurity and the number of undernourished people increase as a result of rising food prices. Due to the increasing demand for paneer products following the outbreak, the paneer industry would grow. Large-scale casualties and property destruction were also brought on by the conflict between Russia and Ukraine.  Soy products and paneer saw significant price rises globally as a result. The import and export of paneer have recently faced substantial problems because to rising consumer demand and inadequate infrastructure for production and delivery.

Latest Trends

"Agreement Toward Sustainable Food Management To Increase Productivity"

Cow's milk is used to make the hard paneer, which is consumed in India, Pakistan, and Nepal. It can be fried or grilled, goes well in savoury or sweet dishes, and has a firm texture. Instead of using rennet or other coagulants in its manufacturing, milk is made into a curd by adding an acid (often lemon juice). The surplus water is then squeezed out of the curds by draining and pressing. The shelf life of hard paneer is greater than that of soft or medium-hard paneer.

Paneer Market Segmentation

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• By Type Analysis

By Type, the market is fragmented into Soft Paneer and Hard Paneer amongst which the soft paneer is the leading segment.

• By Application Analysis

By Application, the market is bifurcated into Bakery & Confectionery, Sweet & Savory Snacks, Sauces, Dressings, Dips, and Condiments, Ready Meals, and Other amongst which the leading segment is Ready Meals.

Driving Factors

"Rising Demand of Consumers for the Product to Ampily Market Growth"

The product is anticipated to increase as a result of the growing number of restaurants, food joints, and cafeterias worldwide. Application covers restaurants, food joints, and cafeterias. Because of its rich flavour and ability to be prepared in a variety of ways, paneer is a common ingredient in both Indian and British cuisine. The product can be used in a wide variety of domestic dishes, such as curries, stews, sauces, and dips, as well as other cuisines like biryani recipes, which substitute paneer cubes or fillets for beef mince or meatballs, respectively. The versatile ingredient paneer can be utilised in both savoury and sweet recipes. It is frequently used in Indian cuisine, where it is fried and eaten as a side dish or cooked in curries.

"Consumption of Soft Paneer to Boost Market Growth"

A soft paneer is a fresh form of cheese manufactured from milk. Like tofu, it has a soft, smooth texture. Many different cuisines, including biryani, soups, salads, and many others, require soft paneer. Because of its mild, sweet flavour and the nutty flavour of the cheese, it is highly well-liked by people of all ages, but notably by children and young people around the world. Indian cottage cheese known as medium-hard paneer is produced from cow's milk. It may be used in both sweet and savoury dishes and has a firm, somewhat crumbly texture. It is suitable for grilling and frying. Recipes frequently call for paneer that is medium-hard.

Restraining Factors

"Lack of Regulatory Standards of the Product to Be a Major Restraint"

Lack of regulatory requirements is one of the main obstacles preventing the paneer meal market from expanding. In nations where frameworks based on scientific risk have been established to supervise national food safety rules, this trend is noticeably more pervasive.

Paneer Market Regional Insights

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"Asia Pacific to Dominate the Market Owing to the Product's High Nutrition Aspect"

Europe dominated the global market in terms of revenue with a share owing to the high demand for Indian cheese products from countries like Germany, the U.K., and France on account of their excellent taste and aroma. Moreover, an increasing number of retail stores specializing in selling Indian food products is expected to fuel the regional market growth over the forecast period.

Key Industry Players

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

LIST OF TOP PANEER COMPANIES

• Emmi (Switzerland)
• Bega Cheese (Australia)
• Parag Milk Foods (India)
• Kraft (U.S.)
• Friesland Campina (Netherlands)

Report Coverage

This research profiles a report with extensive studies on paneer market growth that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.