Cheese Powder Market by Type (Cheddar, Mozzarella, Parmesan, American, Blue), Application (Bakery & Confectionery, Sweet & Savory Snacks, Sauces, Dressings, Dips, and Condiments, Ready Meals), and Region - Global Forecast to 2022
“Cheese powder market is projected to grow at a CAGR of 6.82%”
The cheese powder market, estimated at USD 406.5 million in 2016, is projected to grow at a CAGR of 6.82%, to reach USD 604.1 million by 2022. The market is primarily driven by factors such as increase in size of the convenience & fast food industry and innovative offerings by cheese powder manufacturers. The growth rate of the fast food industry is significant, owing to the changing lifestyles of people around the globe. Continuous development and innovations among key players is paving new opportunities for the cheese powder market. However, the rise in awareness regarding the ill-effects of cheese is restraining the growth of the market.
“Parmesan cheese powder is projected to grow at the highest CAGR”
On the basis of type, the cheese powder market was led by parmesan cheese powder, followed by blue cheese powder. There has been an increase in demand with regard to fresh and authentic flavors and natural ingredients; and consumers expect high-quality soups, sauces, and dressings for better taste, texture, and appearance. This has led to an increased demand for parmesan cheese powder in the soups, sauces, and dressings industry due its authentic taste.
“Ready meals segment projected to be the fastest-growing during the forecast period“
The ready meals segment is projected to be the fastest-growing during the forecast period. Cheese powders are extensively used in ready meals in order to add a specific cheese flavor to the meal or to enhance the cheese flavor in it. With busy lifestyles of consumers, the popularity and demand for ready meals is rising across regions.
“Asia Pacific: High growth projected in the cheese powder market”
Asia-Pacific is projected to be the fastest-growing market for the period considered for this study, due to the increase in demand for cheese powder from rapidly growing fast food restaurant chains and increasing disposable income. Japan and China are expected to lead the market for cheese powder in the Asia-Pacific region for the next five years, as a result of the expansions and establishments of cheese powder manufacturers, to cater to the needs of the food &beverage processing industry.
Break-up of Primaries:
By Company Type – Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
By Designation – Director Level – 20%, C Level – 40%, and Manager Level – 40%
By Region – North America – 25%, Europe – 50%, and Asia-Pacific – 25%
Leading players profiled in this report:
Land O'lakes, Inc. (U.S.)
Kerry Group PLC (Ireland)
Lactosan A/S (Denmark)
Kraft Foods Group, Inc. (U.S.)
Archer Daniels Midland Company (U.S.)
Aarkay Food Products Ltd. (India)
Dairiconcepts, L.P. (U.S.)
All American Foods (U.S.)
Commercial Creamery Company (U.S.)
Kanegrade Limited (U.K.)
The report segments the cheese powder market on the basis of type, applications, and region. In terms of insights, this research report has focused on various levels of analyses—trade analysis, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global cheese powder market, high-growth regions, countries, government initiatives, drivers, restraints, and opportunities.
Reasons to buy this report:
To get a comprehensive overview of the cheese powder market
To gain wide ranging information about the top players in this industry, their service portfolios and key strategies adopted by them
To gain insights about the major countries/regions in which the cheese powder market is flourishing