Global Cheese Powder Market: Snapshot
The demand for cheese powder has been skyrocketing in the past few years due to its rising demand in wide range of food products. Made with cheese, it has a longer shelf life and a high nutritional value. Today, cheese powder is used for the purpose of adding flavors to instant food items, seasoning food, and adding it to baked food items. All of these factors are expected to propel the market at a CAGR of 7.3% between the forecast years of 2016 and 2024. The report indicates that the global market will reach a valuation of US$481.0 mn by the end of 2024 from US$256.1 in 2015.
Changing Lifestyles Propel Sales of Cheese Powder
The soaring sales of various types of cheese powders can be attributed to the changing lifestyles that are characterized by the lack of time to cook complete and nutritional meals. Fast-paced and hectic lifestyles have left little room for focusing on daily nutrition intake. This factor alone has played a crucial role in defining the success of the global cheese powder market as several consumers are opting for readymade meals, which contain cheese powder. A significant rise in the number of working women has also been a vital component in propelling the growth of the global cheese powder market. Changing lifestyles, rising per capita incomes, and shifting dietary habits are also expected to drive the global cheese powder market throughout the forecast period.
Cheese powder infused products, when consumed in large amounts, have adverse effects on the human health. Excessive consumption of cheese powder leads to obesity, heart disorders, and high cholesterol levels amongst other things. The growing awareness among consumers about the negative effects associated with the same is expected to restrain market’s growth. Despite the challenges, the global cheese powder market does have the opportunity to grow phenomenally in the coming years with intensive product innovation and steadfast marketing strategies.
In terms of products, the global cheese powder market is segmented into parmesan cheese powder, cheddar cheese powder, mozzarella cheese powder, blue cheese powder, and others. The others segment mainly includes American cheese powder, and Gouda cheese powder. On the basis of type, cheddar cheese powder accounted for the largest market share, followed by mozzarella. The demand for cheddar is expected to remain high due to the growing demand for convenience food items. By application, the cheese powder market is segmented into sauces and dips, sweet and savory snacks, bakery, confectionery, ready to eat meals, and other applications. Sauces and dips have the largest share in the cheese powder market in terms of revenue, followed by sweet and savory snacks.
North America to Lead Global Market as Consumers Indulge in Ready-to-Eat Meals
On the basis of geography, the global cheese powder market is categorized into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The report states that North America and Europe will dominate the global as the dependency of consumers on convenience food items continues to remain high. The majority of ready-to-eat meals use cheddar cheese powder. The Asia Pacific cheese powder market will be bolstered by a relatively high percentage of the population consuming products having cheese powder as one of the key ingredients.
The key players operating in the global cheese powder market are Lactosan A/S, Land O’ Lakes, Kerry Group, Aarakay food Products Ltd., Kanegrade Ltd., Archer Daniels Midland Company, All American Foods, Inc., Bluegrass Dairy and Food, Inc., DairiConcepts, L.P., and Krafts Food Group. Most of these companies are focusing on product innovation to gain a competitive edge over other players in the forecast period.
Global Cheese Powder Market: Overview
Cheese powder has occupied a significant position due to its associated product benefits. By product type the market has been categorized into parmesan, cheddar, mozzarella, blue and others which include American cheese, gouda cheese powder and by application the market has been segmented into sauces and dips, sweet and savory snacks, bakery and confectionery and others which includes ready to eat meals, processed cheese. Since there is no standard identity for cheese powder so the quality and taste of the cheese powder may vary.
The market for cheese powder is seen to be growing at a significant rate across all geographical regions. Globally, the market is expanding at a magnifying rate, majorly driven by changing lifestyle, rapid urbanization, rising demand for convenience foods. Asia Pacific is showing the fastest growth due to its growing demand from emerging economies like China, India and Japan due to the improved standard of living.
Global Cheese Powder Market: Drivers and Restraints
One of the main driving factors of cheese powder market is the improvement in the standard of living of the consumers. Due to increase in disposable income there is considerable enhancement in the lifestyle of the people. The increase in number of working women is also one of the main driving factor. The cost of production of cheese powder is low in Asian countries because of the easy availability of the raw material. This has led to large scale production at a competitive cost of cheese powder in the market.
The major restraint of cheese powder is that it has a negative effect on the health. High consumption of cheese powder induced food leads to obesity, high cholesterol and cardiac issues. The consumers are becoming aware of the ill effects which can impede the growth of cheese powder market. Moreover due to the unstable economic condition in some region the customer’s ability to pay for the product is hampered.
Global Cheese Powder Market: Opportunities
The rapidly growing market of processed and packaged food offers several opportunities for the cheese power market. The new launches of this the cheese powder product are opening up new scope for cheese powder market. Due to the introduction of new variety of cheese powder it is likely to attract the customer. The demand for cheese powder as a key ingredient in various food products is rising globally.
Global Cheese Powder Market: Regional Outlook
By geography the cheese powder market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America..North America includesthe U.S. and Rest of North America. Europe includes the U.K., Germany, France, Russia, Italy and Rest of Europe.Asia Pacific includes countries such as India, China, Japan and Rest of Asia Pacific. In addition,. Middle East and Africa includes country such as UAE, South Africa and Rest of Middle East and Africa.Latin America comprise of countries such as Brazil and Rest of Latin America. Geographically, North America has the largest market share but Asia Pacific cheese powder market is experiencing the fastest growth from 2016 to 2024 in global Cheese powder market.
Key Players Mentioned in the Report are:
The key players operating in the global cheese powder market are Lactosan A/S (Denmark), Land O’ Lakes (Arden Hills, Minnesota), Kerry Group(Ireland), Aarakay food Products Ltd. (India), Kanegrade Ltd.(U.K.), Archer Daniels Midland Company(U.S.), All American Foods, Inc. (U.S.), Bluegrass Dairy and Food, Inc.(Glasglow), DairiConcepts, L.P. (U.S.), and Krafts Food Group (U.S.). Most of these manufacturers have explored new market segments through innovative product introductions all over the world for availing a competitive edge by means of combined synergies.
The global agricultural disinfectant market can be segmented as follows;-
Global Cheese Powder Market, by Types
Global Cheese Powder Market, by Application
- Sauces and Dips
- Sweet and Savory Snacks
- Bakery and Confectionery
Global Cheese powderMarket, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa