Cheese Powder Market Analysis, Growth, Trends, Share, & Forecast to 2022The cheese powder market was valued at USD 406.6 million in 2016 and is projected to grow at a CAGR of 6.82%, to reach USD 604.1 million by 2022. Cheese powder has witnessed significant demand in recent years due to the increase in the size of the convenience & fast food industry and focus of cheese powder manufacturers on developing innovative offerings. The growth rate in the fast food industry is experiencing a surge due to the changing lifestyles of individuals around the globe. However, increasing awareness pertaining to the adverse effects of cheese on the health of consumers, such as obesity, high cholesterol levels, and heart problems are posing significant challenges in the market.
Rising demand for convenience food and growing fast food industry to drive the global cheese powder demand to touch USD 604.1 million by 2022
Cheese powder is dried/dehydrated cheese in powdered form which has numerous applications in the manufacturing of food products such as sweet and savory snacks, sauces, dressings, dips, and ready-to-eat meals. They enhance the aesthetic appeal and organoleptic properties to products, such as texture and taste. The most widely used cheese powders in the market are cheddar, mozzarella, parmesan, American cheese, and blue cheese.
The global cheese powder market is projected to reach USD 604.1 million by 2022, at a CAGR of 6.82% from 2016 to 2022. The demand for cheese powder is expected to grow, owing to the growth of the fast food industry, globally. The changing dietary preferences of people have led to a significant rise in the consumption of convenience and fast food worldwide, which, in turn, is projected to increase the demand for cheese powder.
Stringent labelling policies and regulations act as the major challenge for the market
The US Government has stringent policies for the labeling of packages containing cheese products. While packaging cheese products, the label must contain the accurate process through which the cheese has been processed and manufactured, such as ‘pasteurized’, ‘processed’, or ‘blended’. It is also necessary that any cheese made from vegetables/ fruits/ meat should be labeled by these items. The regulation states that there should also be a standard font size on the labels, making it easily readable to the consumers. Adhering to various labeling regulations may increase the cost of packaging and labeling, which, in turn, affects the price of the final products. This can lead to low acceptance by consumers, which poses as a challenge for the cheese powder market.
The demand for cheese powder is high in the region, owing to the rising consumption of fast food among people. Kraft Foods Group, Inc. (US) is one of the major producers of cheese powder in the US, and supplies cheese powder to the food manufacturing industry. In 2016, Europe and North America are collectively estimated to account for more than 70% of the global cheese powder production. Countries such as the US and those in the European Union are the largest cheese powder exporters in the world.
Key participants in the cheese powder market are the cheese powder manufacturers, suppliers, and regulatory bodies. The key players that are profiled in the report include Land O’Lakes, Inc. (US), Kraft Foods Group, Inc. (US), Lactosan A/S (Denmark), Kerry Group plc (Ireland), DairiConcept (US), Archer Daniel Midland (US), Aarkay Food Products (India), All American Foods (US), Commercial Creamery Company (US), and Kanegrade Limited (UK).
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Leading cheese powder manufacturers are developing innovative solutions for existing and new applications to drive the industry forward
Bakery & Confectionery
Cheese powder is used to manage the rheology of ingredients during the baking process, and also adds flavors to bakery products such as savory biscuits, and breads. In confectionery, cheese powder is usually used to enhance the organoleptic qualities of food products by providing a cheesy flavor and texture. The highest demand for confectionery comes from developed regions such as North America. Due to an increase in urbanization and changes in food habits of consumers, the demand for bakery and confectionery items with cheese flavors is rising in developing countries such as India, Brazil, and South Africa.
Sweet and savory snacks
Cheese powder is widely used in sweet and savory snacks to induce the cheesy flavor, and to provide a richer mouthfeel. Cheese powder is used in snacks such as popcorn, chips, nachos, and puffed snacks. Some of the popular brands of snacks that use cheese flavors include Cheetos and Doritos. Cheese powder offers better functionality and taste over other flavors, and better convenience for use in a range of snack products. Rising preference for convenience and fast foods, along with the rising consumption of snacks worldwide, is driving the demand for cheese powder in various snacks.
Sauces, dressings, dips and condiments
Cheese powder imparts an enhanced cheese flavor to sauces, dressings, dips, and condiments. This can be done with the use of a single cheese flavor or a mix of many cheese flavors. The use of cheese powder also offers better taste, convenience, and functionality in recipes where high-temperature cooking is required. With the rapidly rising demand for fast foods in Asia Pacific, the demand for cheese powder in sauces, dressings, dips, and condiments is likely to grow at the highest rate, in this region in the future.
Ready meals
Cheese powder is used in ready meals to add a specific cheese flavor to a meal or to enhance its existing flavor. With the growingly busy lifestyles of consumers, the popularity of ready meals is rising in developed countries such as the US, Germany, the UK, and others. This has boosted the demand for cheese powder in ready meals across regions.
Other foods
Other cheese powder applications include processed meat and egg products, creams and desserts, and side dishes. Cheese powder is used as seasoning or as an ingredient in a range of food products. Due to innovative product offerings from cheese powder manufacturers, its applicability is increasing and is likely to cover a broader range of products in the future.
Key questions
- With parmesan cheese powder expected to gain more traction, how will this affect the food industry in the next five years?
- What will be the prominent revenue-generating pockets for the market in the next five years?
- Most of the suppliers have opted for expansion and mergers & acquisition as key strategies, as could be seen from the recent developments. Where will it take the industry in the mid to long term?
- What are the upcoming substitutes and trends that will have a significant impact on the market in the future?
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