New York, April 20, 2023 (GLOBE NEWSWIRE) -- The global Cheese Powder Market was valued at USD 2.1 billion in 2022. this market is estimated to register the highest CAGR of 8.6% Between 2023 and 2032. It is expected to reach USD 4.7 billion by 2032. Cheese powder is mostly used for adding flavors to food or products, enhancing the taste of the food. With the rise in the disposable income of the people and the rise in the consumption of snacks and convenient food, the industry's growth can be seen. It is a most convenient and affordable option, which also have a longer shelf life, for the flavoring of products. Cheese powder can be used in various food products, such as soups, sauces, seafood, etc. In addition, it can have numerous health benefits, including improved bone health and muscle and blood pressure regulations, which can positively affect the market's growth.
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Key Takeaway:
- By product, the cheddar cheese segment dominated the market with a 28.6% share in 2022.
- By application, the ready-to-eat segment held the largest market share at 27% in 2022.
- In 2022, North-America Region dominated the market with the highest revenue share of 38.8%.
- APAC Region had the second-largest revenue share in 2022.
- Europe will likely grow at a significant rate from 2023-2032.
The key market players are focusing on launching new products and expanding the company's portfolios in cheese powder products, which can drive the market's growth. The rise in consumer awareness of the high vitamin, low calories, and high protein content resulted in the market's growth. The rise in the adoption of cheese among consumers has driven the demand for cheese powder in the market.
Factors affecting the growth of the Cheese Powder industry?
There are several factors that can affect the growth of the Cheese Powder industry. Some of these factors include:
- Rise in demand for ready-to-eat products: The rise in the demand for convenience food and ready-to-eat food is the major factor driving the growth of the market.
- Rise in demand for processed food: Consumers have shifted their demand from staple food towards processed and packaged food products in developing countries, due to which the demand for processed food is increasing, resulting in the growth of the market.
- Application in food and beverages: The major application of cheese powder is in the food and beverage industries. Due to its taste and flavor, the growth of the market in the food and beverages industry can be seen.
- Rising awareness about health issues: The overconsumption of cheese powder can create ill health issues, which can be a restraining factor to hinder the growth of the market.
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Top Trends in the Global Cheese Powder Market
The major application of cheese powder is in the food and beverage industries. The longer shelf life of the cheese powder is a great choice for packaged food products. The demand for cheese powder is driven due to its good taste and flavor. The consumer preference for convenience foods augments the demand for the products. Some of the major players are trying to provide better product quality and good flavors, which is the major trend that can propel the development of the market.
Market Growth
The market's growth can be seen with the rise in the demand for ready-to-eat food products. The increase in the adoption of packaged and processed foods propels the market's growth during the forecast period. The rise in the adoption of cheese powder in the food and beverages industry is propelling the market's growth. The ill health effect due to the consumption of cheese powder can hinder the market's growth.
Regional Analysis
North America holds the largest market share and dominates the market's development during the forecast period. The market growth in the region can be seen as the majority of the key players of the market presence in the region. The consumer's hectic lifestyle shifted the consumer's preferences towards RTC and RTE meals, which is driving the growth of the market in the region. The rise in the innovation of products and the popularity of clean-label products are propelling the region's growth. The Europe region is growing at a significant rate during the forecasted period. The rise in the use of cheese powder in restaurants and cafes is fuelling the growth of the market in the region.
Competitive Landscape
Companies are heavily investing in research and development activities to innovate products in the cheese powder market. The market provides many opportunities for new entrants, with the changing consumer preferences and the availability of raw materials. Some key players focus on partnerships and collaboration with other competitors to gain a strong market position.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 2.1 Billion |
| Market Size (2032) | USD 4.7 Billion |
| CAGR (from 2023 to 2032) | 8.6% |
| North America Revenue Share | 38.8% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The major key players in the market, which produce soups, snacks, frozen products, etc., are using cheese in large quantities, propelling global growth. The rise in the demand for convenience food is the primary factor driving the development of the market. With the ability of longer shelf life and easy handling, snacks are a significant application for cheese powder. The rise in awareness about one of the healthy benefits of dry cheese, which includes high protein and calcium, is driving the growth of the market. The rise in the disposable income of individuals, which eventually increases the consumption of ready-to-eat products, is propelling the market's expansion.
Market Restraints
In some countries, government regulations on product approval are the key factor that restraint the growth of the market. Also, the rise in consumer awareness about some of the ill health effects of cheese greatly impacts the growth of the market. Some of the health issues include high cholesterol levels, obesity, heart disease, etc., which is the major condition associated with consuming processed cheese. These are some of the factors which restrain the growth of the market.
Market Opportunities
The rise in the growth of the retail channel, such as supermarkets and hypermarkets in urban areas, is expected to drive the demand for packaged food. However, Consumers have shifted their demand from staple food towards processed and packaged food products in developing countries. With the demand for packaged foods such as bakery, snacks, ready-to-eat products, etc., the need for cheese powder is growing during the forecast period.
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Product Insight
The rise in affiliation of the product in the convenience and fast food market is a factor for the segment's growth. Cheddar cheese holds the largest market share and dominates the growth of the market. Cheddar cheese has gained popularity due to its distinct aroma, flavor, and taste. It is the most popular type of cheese in North America and Europe. The demand for specialty and premium flavors is driving the segment's growth.
Application Insight
The ready-to-eat segment dominates the growth of the market. There is no need for refrigeration for the cheese powder, and it has a consistent quality and can be added in controlled quantities. The segment's growth can be seen as the cheese powder have a longer shelf life, and it can be added to cheddar and other convenience foods, which can help prevent the food for a longer period. Therefore, the snack segment will likely grow significantly during the forecast period.
Recent Development of the Cheese Powder Market
- A new range of high-purity cheese powders was launched by Aarkay Food Products Ltd. in 2021, targeting some products like mayo, dips, and sauces.
- The Land O’Lakes Global Diary Ingredients launched organic white cheddar cheese powder in 2021, focusing on expanding customer relations.
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Market Segmentation
By Products
- Cheddar
- Parmesan
- Mozzarella
- Romano
- Swiss
- Other Products
By Applications
- Snacks
- Bakery & Confectionery
- Dips/Dressings/Dry Mix/Sauces
- Flavors
- Ready to Eat
- Others Applications
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- 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.
- All American Foods
- Dairiconcepts, L.P
- Other Key Players
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- By product, the cheddar cheese segment dominated the market with a 28.6% share in 2022.
- By application, the ready-to-eat segment held the largest market share at 27% in 2022.
- In 2022, North-America Region dominated the market with the highest revenue share of 38.8%.
- APAC Region had the second-largest revenue share in 2022.
- Europe will likely grow at a significant rate from 2023-2032.
The key market players are focusing on launching new products and expanding the company's portfolios in cheese powder products, which can drive the market's growth. The rise in consumer awareness of the high vitamin, low calories, and high protein content resulted in the market's growth. The rise in the adoption of cheese among consumers has driven the demand for cheese powder in the market.
