Cheese Powder Market to Scale New Growth Heights With 7.5% CAGR by 2025, Based on Rising Share of Working Class Professionals | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, high sales of key snacks such as yogurt, protein bars, and hummus because of their clean labels and whole food ingredients are projected to boost the growth of cheese powder industry.

Cheese Powder Industry Overview

The global cheese powder market size was estimated at USD 1.10 billion in 2018 and is poised to reach USD 1.83 billion by 2025, progressing at a CAGR of 7.5% during the forecast period.

Cheese trade worldwide and the demand from developed markets remained robust; however, cheese demand and prices from developing markets remained weak according to information provided by the U.S. Dairy Export Council. Price drops in recent years, coupled with rising population, booming foodservice sector, and rising disposable income, are anticipated to fuel the demand for the product in developing countries.

Gather more insights about the market drivers, restrains and growth of the Global Cheese Powder Market

Cheese powder manufacturers are focusing on providing personalized flavors in the cheddar cheese powder segment, ranging from sweet and buttery to savory flours. In addition, manufacturers are exploring innovative ingredients to develop new flavor profiles and product offerings.

 

 

Rising consumer focus on nutritional values offered by the product such as low calories and high proteins and vitamins is projected to have a positive impact on the market. However, shift of consumer base towards vegan diet, owing to factors including animal rights and environment protection, is poised to hinder the growth of the market over the forecast period.

Initiatives taken by manufacturers to offer novel flavors, better quality, and attractive packaging are likely to bode well for the market over the forecast period. These products can be fortified with vitamin D, calcium, and DHA, which can improve their nutritional values.

 

Cheese Powder Market Segmentation

Based on the Application Insights, the market is segmented into snacks, bakery & confectionery, dips/dressings/dry mix/sauces, flavors, ready to eat and others

Snack sales amounted to USD 374 billion in 2014 and increased at over 2.0% y-o-y through 2018. The sales grew more than two times faster in developing regions, owing to rise in per capita disposable incomes, presenting a potential opportunity for the industry. Snacks as meal replacements are a growing opportunity in developed regions, owing to increase in working class people.
According to data reported by SPINS, more than 90.0% of adults are snacking daily and the industry offers huge opportunities for product manufacturers. High sales of key snacks such as yogurt, protein bars, and hummus because of their clean labels and whole food ingredients are projected to boost the growth of snacks segment in the cheese powder market.
Application of the product is ready to eat foods and snacks are poised to rise at a high rate during the forecast period. People worldwide are gradually inclining towards baked goods and that is a big win for the baking industry. Hence, product demand in the bakery & confectionery products, both at domestic and industrial levels, is likely to create opportunities for manufacturers during the forecast period.

 

Based on the Product Insights, the market is segmented into cheddar, parmesan, blue cheese, romano, swiss and others

Cheddar cheese is hard, ripened cheese with a long shelf life and has gained popularity because of its distinct taste, flavor, and aroma. It is highly popular in Europe and North America. Surging demand for specialty and premium flavors is likely to escalate the growth of this segment.
Cheese manufacturers are focusing on providing personalized flavors in the cheddar cheese powder segment, ranging from sweet and buttery to savory flours. In addition, manufacturers are exploring innovative ingredients to develop new flavor profiles and product offerings.
In the coming years, cheese manufacturers predict that cheddar cheese sprinkled with chili and ghost pepper is expected to be an everyday product by 2025.
“Swissness” remained a crucial selling trend as customer’s demand good quality and authentic cheese products. The concept is estimated to remain strong along with sustainability and provenance. Companies are focusing on various strategies, owing to increasing demand along with rising competition for shelf space in retail and grocery stores. As a result, manufacturers are anticipated to increase the emphasis on domestically produced brands over the forecast period.

 

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

 

The market in North America is expected to have a relatively sluggish growth during the forecast period. North America and Europe are the largest cheese consuming regions in the world, both in terms of value and volume. In 2018, they accounted for over three quarter of the global revenue. Dairy product consumption estimates and annual per capita milk show that per capita consumption of cheese products is increasing despite their saturated markets.
More than 274,000 European food and drink companies produce a wide range of foods, satisfying evolving needs of 500 million European consumers every day. The European food and drink industry is highly fragmented and is dominated by various small and medium enterprises. SMEs account for more than 50.0% of the total European market.
In Europe, diets that limit the amount of fat or sugar are most common. More than 20.0% of Europeans are sugar conscious and prefer low amount of fats in their diets. Also, rise in the number of lactose intolerants is also anticipated to compel manufacturers to provide innovative products in order to serve this part of population.
Changing demographics, busy lifestyles, and increasing access to technology are estimated to augment the market in this region. Cheese powders have become an essential ingredient in both domestic and industrial sector owing to its smell and high nutritional content. Spiraling demand for the product is impelling manufacturers to acquire more shelf space, which has resulted in increased cost of the product and can be a threat in the coming years

 

Market Share Insights:

November 2019: First Choice Ingredients, Germantown launched a toasted cheese line that includes toasted cheddar and toasted parmesan concentrate in powder form.
April 2017:  Fonterra owned New Zealand Milk Products (NZMP) launched a Tasty Cheese Powder made from natural cheese and milk solids that can be used in variety of convenience food applications.

 

Key Companies Profile:

The industry is highly competitive in nature. It offers various opportunities for new entrants owing to continuous shift in consumer preferences and easy raw material availability. Lactosan launched new products in order to increase calcium levels in their offerings, which have six times more nutrients in comparison to other products.

Some prominent players in the global cheese powder market include

Land O’Lakes, Inc.
Kerry Group PLC
Kraft Heinz Company
Lactosan A/S
Archer Daniels Midland
Commercial Creamery Company
Kanegrade Limited
Aarkay Food Products Ltd.

 

Order a free sample PDF of the Cheese Powder Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

 

Web: https://www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/cheese-powder-market