The latest report by IMARC Group, titled "Paneer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", finds that the reached a volume of around 1.8 Million Tons in 2018, exhibiting a CAGR of 6.1% during 2011-2018. Paneer refers to a fresh, non-melting and unsalted white cheese which does not require aging or culturing. It is obtained by coagulating milk with a vegetable-derived acid and is characterized by a spongy and cohesive body with a close-knit texture and sweetish-acidic flavor. Paneer is rich in proteins, minerals, fats, iron, potassium, calcium and magnesium owing to which its consumption on a regular basis strengthens bones, maintains blood sugar levels and fluid balance, improves digestion, and helps in weight loss. Apart from this, as paneer is a coagulated form of casein which is a slow-digesting protein, it releases energy gradually. Owing to the numerous health benefits offered by paneer, it is preferred by athletes, bodybuilders, sprinters and other sports enthusiasts.
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Due to the presence of varied nutrients in paneer like riboflavin, zinc, selenium, pantothenic acid, thiamine, phosphorus and vitamin B12, it aids in enhancing metabolism, regulating blood pressure, forming cartilages and strengthening the immune system. Due to these benefits, a growing number of health-conscious consumers is favoring paneer over its alternatives, thereby triggering the growth of the market across the globe. Moreover, owing to hectic lifestyles and altering food habits, the working population is shifting towards easy-to-prepare food products. As paneer is an extremely versatile ingredient, has an easy preparation process and saves cooking time, it is gaining traction globally. Looking forward, the global paneer market is anticipated to grow at a CAGR of 5.8% during 2019-2024, reaching a volume of 2.5 Million Tons by 2024.
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On a geographical front, the global paneer market has been categorized into Asia Pacific, North America and Europe. Amongst these, Asia Pacific represents the leading market for paneer, accounting for the majority of the global share. This can be mainly attributed to the large-scale utilization of paneer in the preparation of numerous traditional food items across the region. Additionally, paneer is consumed as a substitute for meat products in countries like India owing to a huge vegetarian population.The competitive landscape of the paneer industry is highly fragmented due to the presence of numerous unorganized players. Some of the key players include Amul, Mother Dairy, Saras, VRS Foods and Parag Milks Foods.
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