Cheese Powder Market Share, Size, Trends, Industry Analysis Report, By Product (Parmesan, Cheddar, Swiss, Romano, Blue Cheese, Others); By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 117
- Format: PDF
- Report ID: PM1954
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global Cheese Powder market was valued at USD 5.09 billion in 2023 and is expected to grow at a CAGR of 7.7% during the forecast period.
Cheese powder emerges as a more convenient and cost-effective alternative with an extended shelf life for flavoring various products. The global industry is witnessing growth driven by increased consumption of snacks and convenient foods, coupled with a rise in disposable income. During the COVID-19 pandemic, consumer behavior shifted towards stockpiling essential food items and longer shelf-life snacking options such as soups, baking flours, and snack bars. This change in preference towards convenient eating created an opportunity for new entrants to meet the heightened demand, positively impacting the global cheese powder market. However, supply chain disruptions due to lockdowns in various countries affected overall cheese powder production, but a swift return to pre-COVID levels is anticipated as restrictions ease.
Providing a taste akin to fresh cheese, cheese powder serves as a versatile ingredient in an array of food items, including soups, pizzas, seafood, sauces, salads, meats, and canned goods, as well as in seasoned salt and spices. Beyond its culinary uses, cheese powder offers various health advantages, such as regulating blood pressure, enhancing bone health, supporting muscle and nerve function, and boosting immunity. These health benefits are anticipated to drive increased demand for the product in the years to come.
To Understand More About this Research: Request a Free Sample Report
A contributing factor poised to enhance market growth is the increasing consumer awareness of the product's nutritional value, marked by high vitamin and protein content and low-calorie levels. Additionally, manufacturers are concentrating on elevating product quality and flavor within the cheddar cheese powder segment, offering personalized tastes such as sweet, buttery, or savory variations. Companies are also emphasizing durable and appealing packaging to broaden the reach and expansion of their businesses.
Conversely, the presence of a significant number of lactose-intolerant individuals may hinder the global cheese powder market's growth. Moreover, the expanding vegan demographic, driven by individual concerns regarding environmental factors and animal welfare, is anticipated to impede market growth. Nevertheless, the development of organic cheese powder tailored to regional preferences holds the potential to substantially bolster sales within local markets.
Industry Dynamics
Growth Drivers
Increasing Utilization of Cheese in the Food and Beverage Sector
The product has a wide range of applications in the food and beverage industry, driven by consumer preferences for convenience foods. Its extended shelf life positions it as the top choice for packaged food items. Additionally, the ability of cheese powder to enhance taste and flavor contributes to its demand. Furthermore, increased consumer awareness of the product's nutritional value, including high protein and vitamin content and low calories, is anticipated to boost market growth. Manufacturers are also striving to improve product quality and flavors, accompanied by appealing and durable packaging, to enhance the expansion and reach of their businesses.
Report Segmentation
The market is primarily segmented based on product, application, and region.
|
By Product |
By Application |
By Region |
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Product Analysis
The Cheddar Segment Held the Largest Revenue Share in 2022
With a growing presence in the fast-food and convenience food industry, there has been a notable upswing in demand for the product. Cheddar cheese, known for its firm and ripened characteristics, stands out for its prolonged shelf life and distinctive aroma, taste, and flavor, gaining significant recognition, especially in North America and Europe. Furthermore, the increasing preference for premium and specialty flavors is expected to drive the growth of this segment.
Anticipated to be the fastest growing CAGR in the forecast period, the Swiss cheese segment is characterized by its bright, pale yellow hue. Noted for its mild, nut-like, and sweet flavor with a savory undertone, the distinctive taste of Swiss cheese contributes to its popularity among consumers, driving demand within the segment. With a versatile range of applications, it can be incorporated into dips, spreads, appetizers, and other culinary uses. Additionally, Swiss cheese enhances the richness of mayo dips and cream cheeses.
By Application Analysis
The Ready to Eat Segment Accounted for the Highest Market Share During the Forecast Period
With an extended shelf life, cheese powders are suitable for incorporation into Cheddar and convenience foods, ensuring prolonged preservation compared to fresh cheese. Offering consistent quality, they can be added in controlled quantities and do not necessitate refrigeration. Consequently, cheese powders find diverse applications in packaged ready-to-eat foods.
Swift expansion of the snacks segment in the upcoming period, notably fueled by the increasing trend of snacks serving as meal replacements, especially in developed regions witnessing a rise in the working-class population. As per Mondelēz International's 2021 State of Snacking report, a significant 85% of individuals worldwide indulge in at least one snack each day. The elevated sales of popular snacks, including popcorn, pretzels, pasta, chips, and hummus, are driven by the incorporation of whole food ingredients and clean labels, thereby expected to drive the growth of this segment.
Regional Insights
Europe Dominated the Largest Market in 2022
The adoption of processed cheese in restaurants and cafes is driving the growth of the regional market. A 2022 report by the European Food Safety Authority (EFSA) revealed that nearly 50% of people in Europe favor reduced-fat food products. Consequently, diets limiting sugar or fat are highly prevalent in the region. Moreover, manufacturers are anticipated to innovate and introduce new cheese powder products to meet the demands of the growing lactose-intolerant population and cater to the preferences for reduced-sugar foods in the area.
The North American market is poised for expansion in the forecast period, driven by significant dairy product consumption, changing demographics, and easy access to dairy technologies. Furthermore, the growing consumer preference for ready-to-eat food products, driven by busy schedules, is expected to be a key factor propelling the regional market in the coming years.
Key Market Players & Competitive Insights
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- Aarkay Food Products Ltd.
- All American Foods
- Archer Daniels Midland
- Commercial Creamery Company
- Dairiconcepts, L.P
- Kanegrade Limited
- Kerry Group PLC
- Kraft Heinz Company
- Lactosan A/S
- Land O'Lakes, Inc.
Recent Developments
- In March 2023, Kerry Group plc (Ireland) has recently opened the Southern Europe Innovation Centre in Barcelona, Spain, as a testament to their dedication to expanding their footprint in the region and serving customers in Spain, Portugal, Italy, and France. Utilizing state-of-the-art laboratories and technological proficiency at the facility, Kerry is poised to expedite the creation of innovative and customized cheese powder solutions for the area. This expanded product range, coupled with the capacity to address varied consumer preferences, is expected to establish Kerry as a leading force in the South European cheese powder market.
- In October 2022, Fonterra Co-operative Group Limited (New Zealand) has initiated a collaborative venture to strengthen its US Foodservice business by joining forces with Land O'Lakes, Inc. (US), a prominent dairy cooperative in the United States. This strategic alliance in sales and marketing aims to open up new opportunities for Fonterra's Foodservice offerings in the vast US market. While the immediate focus of this partnership revolves around cooking creams, cream cheese, and potentially other categories in the cheese powder market, the broader collaboration with Land O’Lakes has the potential to shape Fonterra's overall presence and capabilities in the US market. This expanded market access and distribution network could indirectly impact the availability and distribution of various dairy products, including cheese powder, as Fonterra strengthens its position in the competitive US Foodservice landscape.
Cheese Powder Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 5.45 billion |
|
Revenue forecast in 2032 |
USD 9.90 billion |
|
CAGR |
7.7% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments Covered |
By Product, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
FAQ's
• The global key market players include The key companies in Cheese Powder Market are Aarkay Food Products Ltd., All American Foods, Archer Daniels Midland, Commercial Creamery Company.
The global Cheese Powder market is expected to grow at a CAGR of 7.7% during the forecast period.
Baking Ingredients Market report covering key segments are product, application, and region.
The key driving factors in Cheese Powder Market are Extended durability, ease of storage, and linked to numerous health benefits.
The global Cheese Powder market size is expected to reach USD 9.90 billion by 2032.
