The global cheese powder market size is expected to reach USD 2.15 billion by 2028 according to a new study by Polaris Market Research. The report “Cheese Powder Market Share, Size, Trends, Industry Analysis Report, By Product (Cheddar, Parmesan, Blue, Romano, Swiss, Others); By Application; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing application of the product in the food & beverage industry, along with the growing consumer demand for healthy food products, are some of the key factors that drive the market's growth. The rapid growth in the economy of many countries has resulted in the popularity of packaged and processed food products.
The powder is known to give distinct flavor and taste for many food items, and hence they find applications in varieties of snacks, bakery items, pizza, and beverages. Cheese also has many health benefits such as strong immunity, prevention of osteoporosis, improved dental health, reducing the risk of heart diseases and cancer because of proteins, vitamins (Vitamin D, Vitamin K12), calcium, and conjugated linoleic acid.
The improved economic situation and improved spending power among consumers in emerging economies such as India and China will be a significant boost for the growth of the global market. Consumers prefer packaged foods such as bakery & confectionery products, ready-to-eat meals, and snacks due to the changing lifestyle and hectic schedule.
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Increased preference for authentic flavors and natural ingredients has resulted in various types of cheese in the industry. Parmesan, Cheddar, Swiss, Blue Cheese, and Romano are some of the types of products. Parmesan is a more popular cheese powder due to its shelf life and increased usage in high-quality products. The product has numerous applications, including bakery and confectionery, sauces, dips and condiments, dressings, sweet and savory snacks, and ready meals.
The emergence of the COVID-19 pandemic is expected to augment the growth of the powder industry due to the favorable consumer preference for packaged and processed food items. Packaged foods can be stored for a longer period due to their greater shelf time, making it convenient for consumers to store food items for a longer period during the lockdown imposed in many parts of the world.
Market participants such as Kerry Group PLC, Land O'Lakes, Inc., Kraft Heinz Company, Archer Daniels Midland (Wild Flavors), Lactosan A/S, All American Foods, Kanegrade Limited, Commercial Creamery Company, Aarkay Food Products Ltd., and Dairiconcepts, L.P., are some of the key players operating in the global cheese powder industry.
Polaris Market Research has segmented the cheese powder market report on the basis of type, application, and region:
Cheese Powder, Product Outlook (Revenue - USD Million, 2016 - 2028)
Cheese Powder, Application Outlook (Revenue - USD Million, 2016 - 2028)
Cheese Powder, Regional Outlook (Revenue - USD Million, 2016 - 2028)