Cheese Powder Market - Growth, Trends, and Forecast (2020 - 2025).
The cheese powder market is expected to register a CAGR of 7.1% during the forecast period of 2020-2025.
- Cheese powder is a substitute for hard cheese, due to its convenience in handling, shelf life, and storage. Manufacturers are introducing flavors of cheese powder, in order to gain a higher market share. Cheese powders are marketed as reduced-fat or reduced-sodium products, with low-fat and low-salt cheese as the cheese ingredients.
- The cheese powder market is led by the cheddar cheese segment, followed by mozzarella cheese. Its demand is increasing from convenience food manufacturers, due to an increased demand for its flavor in various food products. Soups, sauces, dips, and condiments are the leading segments, in terms of demand.
Key Market Trends
Growing Application of Cheese in Food and Beverage Industry
The product finds a spectrum of applications in the food and beverage industry. The preferences of consumers for convenience foods augment the demand for the product. In addition to this, the elongated shelf life of the product makes it the prime choice for packaged food items. Furthermore, the ability of cheese powder to impart good taste and flavor accounts for its demand. Moreover, the consumers' awareness about the nutrient value of the product, like high protein and vitamin content and low calories, is another factor that is expected to augment the growth of the market. Additionally, the manufacturers are trying to offer better product quality and flavors, along with attractive and durable packaging, in order to augment the growth and scope of their business.
North America Holds Prominent Share in the market studied
North American region is estimated to account for a major share during the forecast period owing to the immense popularity of convenience food products as well as ready-to-eat meals among the consumers as a result of busy work schedule. Moreover, dairy product intake on a large scale along with shifting demographics, hectic lifestyle, and easy access to new food & dairy technologies has boosted the growth of cheese powder market in the European region. Moreover, an increase in the per capita income of the consumers coupled with inflating intake of dairy items as well as altering food preferences will drive the market growth in the Asia Pacific zone. Additionally, a rise in the number of food stalls & outlets set in countries such as China, India, and Japan will provide a boost to the regional market growth.
The key strategies adopted by companies to gain higher revenues are new launches, expansions, acquisitions, and mergers. Some of the major players in the cheese powder market are Dairi Concepts, Kerry Group, ADM (Wild Flavors and Specialty Ingredients), Blue Grass Dairy, and All American Foods, among others.
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