Press release
Global Cheese Powder Market to be Driven by the Rapidly Growing Fast-Food Industry in the Forecast Period of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 6.7%
In comparison to hard cheese, cheese powder is very easy to handle and store, and it has a longer shelf life, which propels the global cheese powder market forward. This market is driven by factors, namely rapid growth of the global convenience food and fast-food industry, increase in consumer spending, rapid urbanisation, and improved standard of living of the consumers leading to increasing demand for ready to eat meals. Also, the longer shelf life of cheese powders has led to packaged food producers preferring it over the others.
The increasing adoption of cheese among consumers has led to an increased demand for cheese powder. The globalisation of food culture will stimulate preference for exotic flavoured cuisines, thereby fuelling the global industry demand.
Industry Definition and Major Segments
Cheese powder is a nutrient-dense powder made from cheese culture, salt, and other components. The powder has a flavour comparable to ordinary cheese, but it lacks the wetness that regular cheese does. It is usually served with popcorn, vegetables, or other foods and dishes that require a boost of flavour or cheese. It is a widely used condiment and a common salt alternative.
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By type, the market is segmented into:
• Cheddar
• Mozzarella
• Parmesan
• American Cheese
• Blue Cheese
• Others
The major applications of the market are:
• Bakery and Confectionery
• Sweet and Savoury Snacks
• Sauces, Dressings, Dips, and Condiments
• Ready Meals
• Others
Based on source, the market is classified into:
• Conventional
• Organic
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The companies are concentrating on expansions, new product launches, and acquisitions, which is growing the market for cheese powder. Increased disposable income, a busy lifestyle, new product launches, and an increase in the number of working women are other factors driving this market growth. Cheese powder manufacturers' new and innovative product offerings to accommodate changing consumer dietary habits and patterns drive the market for cheese powder.
The same technology that makes milk powder may be used to make cheddar powder. As a result, important players are more likely to create a powder from cheddar than other accessible cheeses due to a lower production cost. Other advantages, like its greater flavour profile, have made it a preferred feedstock for powdered cheese manufacture.
Key Market Players
The major players in the market are Kerry Group Plc, The Kraft Heinz Company, Archer Daniels Midland Company (ADM), Lactosan A/S, and A Food Products Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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